Published on 3/4/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $6.8 trigger callable contingent yield notes on Nasdaq, Russell, Dow
Chicago, March 4 – UBS AG, London Branch priced $6.8 of trigger callable contingent yield notes due Feb. 26, 2027 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 8.85% if each index’s closing level is at least 60% of its initial level on the corresponding observation date.
The notes will be callable at par on any monthly observation date starting after three months.
If the notes are not called and each index finishes at or above its 60% trigger level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% that the worst performer’s final level is below its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $6,804,000
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| Maturity: | Feb. 26, 2027
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| Coupon: | 8.85% per year, payable monthly if each index closes at or above its coupon barrier on the relevant observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if each index finishes at or above trigger level; otherwise, full exposure to the decline of the worst performing index from initial level
|
| Call option: | At par on any monthly observation date starting after three months
|
| Initial levels: | 17,937.61 for Nasdaq, 2,016.688 for Russell, 39,131.53 for Dow
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| Coupon barrier levels: | 10,762.57 for Nasdaq, 1,210.013 for Russell, 23,478.92 for Dow; 70% of initial levels
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| Trigger levels: | 10,762.57 for Nasdaq, 1,210.013 for Russell, 23,478.92 for Dow; 70% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.7%
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| Cusip: | 90279W6H2
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