Published on 2/18/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $935,000 trigger autocallable contingent yield notes on index, ETF
By Kiku Steinfeld
Chicago, Feb. 19 – UBS AG, London Branch priced $935,000 of trigger autocallable contingent yield notes due June 26, 2026 linked to the worst performing of the Nasdaq-100 index and the SPDR S&P Homebuilders ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 13.15% if each underlier’s closing level is greater than or equal to its 70% coupon barrier level on the corresponding observation date.
The notes will be called at par on any semiannual observation date starting after one year if both assets close above their initial levels.
If the notes are not called and each underlier finishes at or above its 70% trigger 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 autocallable contingent yield notes
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| Underlying assets: | Nasdaq-100 index, SPDR S&P Homebuilders ETF
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| Amount: | $935,000
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| Maturity: | June 26, 2026
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| Coupon: | 13.15% per year, payable semiannually 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 trigger level, par; otherwise, full exposure to the decline of the worst performer from its initial level
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| Call: | At par on any semiannual observation date starting after one year if both assets close above initial levels
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| Initial levels: | 14,891.48 for index, $76.86 for ETF
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| Trigger levels: | 10,424.04 for index, $53.80 for ETF; 70% of initial levels
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| Pricing date: | June 23, 2023
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| Settlement date: | June 28, 2023
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| Pricing date: | June 23, 2023
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| Settlement date: | June 28, 2023
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0%
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| Cusip: | 90279GPG8
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