Published on 4/4/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $3.69 million 16% trigger autocallable yield notes on three stocks
By William Gullotti
Buffalo, N.Y., April 4 – UBS AG, London Branch priced $3.69 million of 16% trigger autocallable yield notes due April 1, 2027 linked to the stock performance of Dollar General Corp., Pinduoduo Inc. and Zscaler, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly.
The notes will be automatically called at par plus a fixed coupon if each stock closes at or above its initial level on any monthly valuation date after six months.
If the notes have not been called and each stock finishes at or above its 50% downside threshold, the payout at maturity will be par plus the final fixed coupon.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable yield notes
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| Underlying stocks: | Dollar General Corp., Pinduoduo Inc., Zscaler, Inc.
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| Amount: | $3,685,000
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| Maturity: | April 1, 2027
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| Coupon: | 16% per annum, payable monthly
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above its downside threshold, par plus final fixed coupon; otherwise, full exposure to decline of worst performer from initial level
|
| Call option: | Automatically par plus coupon if each stock closes at or above its initial level on any monthly valuation date after six months
|
| Initial levels: | $154.21 for Dollar General, $116.66 for Pinduoduo, $193.48 for Zscaler
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| Downside thresholds: | $77.11 for Dollar General, $58.33 for Pinduoduo, $96.74 for Zscaler; 50% of initial levels
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| Pricing date: | March 27
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| Settlement date: | April 2
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.25%
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| Cusip: | 9026745F3
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