Published on 1/28/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $700,000 trigger callable contingent yield notes on Russell, S&P
By Kiku Steinfeld
Chicago, Jan. 29 – UBS AG, London Branch priced $700,000 of trigger callable contingent yield notes due June 13, 2024 linked to the performance of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 13.3% if each index’s closing level is at least 85% of its initial level on the corresponding observation date.
The notes will be callable at par on any quarterly observation date.
If the notes are not called and each index finishes at or above its 80% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index
|
| Amount: | $700,000
|
| Maturity: | June 13, 2024
|
| Coupon: | 13.3% per year, payable monthly if each index closes at or above its coupon barrier on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its trigger level, in which case full exposure to the losses of the worst performing index
|
| Call option: | At par on any quarterly observation date
|
| Initial levels: | 4,298.86 for S&P, 1,865.706 for Russell
|
| Coupon barrier levels: | 3,654.03 for S&P, 1,585.850; 85% of initial levels
|
| Trigger levels: | 3,439.09 for S&P, 1,492.565 for Russell; 80% of initial levels
|
| Pricing date: | June 9, 2023
|
| Settlement date: | June 14, 2023
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 0.65%
|
| Cusip: | 90279GSS9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
