Published on 12/19/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $13.56 million trigger autocallable contingent yield notes on two indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 19 – UBS AG, London Branch priced $13.56 million of trigger autocallable contingent yield notes due Dec. 20, 2028 linked to the least performing of the Russell 2000 index and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.47% if each index closes at or above its coupon barrier level, 70% of its initial level, on the relevant observation date.
The notes will be called at par of $10 plus the coupon if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon, if any, if each index finishes at or above its downside threshold, 60% of its initial level.
Otherwise, investors will lose 1% for each 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 contingent yield notes
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Underlying indexes: | Russell 2000 index, Euro Stoxx 50 index
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Amount: | $13,562,920
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Maturity: | Dec. 20, 2028
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Coupon: | 7.47% annual rate, payable quarterly if each index closes at or above coupon barrier level on observation date
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Price: | Par of $10
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Payout at maturity: | If each index finishes at or above downside threshold, par plus final coupon, if any; otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level
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Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date after six months
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Initial levels: | 1,985.127 for Russell, 4,549.44 for Stoxx
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Coupon barriers: | 1,389.589 for Russell, 3,184.61 for Stoxx, 70% of initial levels
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Downside thresholds: | 1,191.076 for Russell, 2,729.66 for Stoxx, 60% of initial levels
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Pricing date: | Dec. 15
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Settlement date: | Dec. 20
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2.25%
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Cusip: | 90301Q513
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