Published on 4/25/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $501,000 capped trigger gears tied to Russell 2000
By Kiku Steinfeld
Chicago, April 25 – UBS AG, London Branch priced $501,000 of 0% capped trigger gears due July 30, 2026 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 2 times any gain of the index, capped at par plus 50%.
If the index falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the index declines below the initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Capped trigger gears
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Underlying index: | Russell 2000 index
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Amount: | $501,000
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Maturity: | July 30, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus 2 times return of the index, capped at par plus 50%; if the index falls by up to 20%, par; otherwise, 1% loss for every 1% that the index declines below the initial level
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Initial level: | 1,954.896
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Downside threshold: | 1,563.917, 80% of initial level
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Pricing date: | July 28, 2023
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Settlement date: | Aug. 2, 2023
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 0.6%
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Cusip: | 90279GM89
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