Published on 4/25/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $300,000 trigger return optimization securities linked to Kinder Morgan
New York, April 25 – UBS AG, London Branch priced $300,000 of trigger return optimization securities due April 29, 2025 linked to the common stock of Kinder Morgan, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Kinder Morgan stock closes at or above the initial price, the payout at maturity will be par plus 1.5 times any gain in common stock of Kinder Morgan capped at 16.79%.
Investors will receive par if the stock declines but finishes above the 80% trigger level and will share in any losses if it closes below the trigger level.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Trigger return optimization securities
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Underlying stock: | Kinder Morgan, Inc. (NYSE: KMI)
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Amount: | $300,000
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Maturity: | April 29, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.5 times any gain in common stock of Kinder Morgan, capped at 16.79%; par if stock declines but finishes above the trigger level; otherwise, exposure to any losses
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Initial share price: | $18.81
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Trigger level: | $15.05, 80% of initial price
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Pricing date: | April 24
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Settlement date: | April 26
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1%
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Cusip: | 90307G170
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