Published on 2/14/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.47 million trigger callable contingent yield notes on indexes, fund
By Wendy Van Sickle
Columbus, Ohio, Feb. 14 – UBS AG, London Branch priced $1.47 million of trigger callable contingent yield notes due Feb. 12, 2026 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10.15 % if each underlier’s closing level is greater than or equal to its 70% coupon barrier level on the corresponding observation date.
The notes may be called at par on any monthly observation date after six months.
If the worst performer finishes above its 70% downside threshold level, the payout will be par. 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 assets: | Nasdaq-100 index, Russell 2000 index, Energy Select Sector SPDR fund
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Amount: | $1.47 million
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Maturity: | Feb. 12, 2026
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Coupon: | 10.15% per year, payable monthly if each underlier closes at or above its coupon barrier level on the relevant observation date
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Price: | Par
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Payout at maturity: | If each underlier finishes at or above final barrier level, par plus final coupon; otherwise, full exposure to the decline of the worst performer from its initial level
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Call option: | At par on any monthly observation date after six months
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Initial levels: | $83.31 for fund, 2,009.992 for Russell, 17,962.4 for Nasdaq
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Coupon barrier levels: | $58.32 for fund, 1,406.994 for Russell, 12,573.68 for Nasdaq; 70% of initial levels
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Trigger levels: | $58.32 for fund, 1,406.994 for Russell, 12,573.68 for Nasdaq; 70% of initial levels
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Pricing date: | Feb. 9
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Settlement date: | Feb. 14
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 2.25%
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Cusip: | 90279W2Y9
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