Published on 3/21/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.52 million capped buffer Gears linked to basket of seven stocks
By William Gullotti
Buffalo, N.Y., March 21 – UBS AG London Branch priced $3.52 million of 0% capped buffer Gears due March 19, 2026 linked to an equally weighted basket of seven stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the common stocks of Advanced Micro Devices, Inc., DuPont de Nemours, Inc., Intel Corp., Micron Technology, Inc., Qualcomm Inc., Qorvo, Inc. and Taiwan Semiconductor Manufacturing Co., Ltd.
If the basket finishes at or above its initial level, the payout at maturity will be par plus double the basket gain, up to a maximum return of par plus 37.15%.
If the basket falls by no more than 10%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the basket beyond 10%.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG London Branch
|
| Issue: | Capped buffer Gears
|
| Underlying basket: | Advanced Micro Devices, Inc., DuPont de Nemours, Inc., Intel Corp., Micron Technology, Inc., Qualcomm Inc., Qorvo, Inc., Taiwan Semiconductor Manufacturing Co., Ltd.; equally weighted
|
| Amount: | $3,518,500
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| Maturity: | March 19, 2026
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| Coupon: | 0%
|
| Price: | Par of $10
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| Payout at maturity: | If basket finishes at or above its initial level, par plus two times return up to maximum return of par plus 37.15%; if basket falls by up to 10%, par; otherwise, 1% loss for each 1% decline of basket beyond 10%
|
| Initial levels: | $191.06 for AMD, $73.43 for DuPont, $42.64 for Intel, $93.25 for Micron, $167.20 for Qualcomm, $111.85 for Qorvo, $136.98 for Taiwan Semiconductor
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| Buffer level: | 90% of initial basket level
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| Pricing date: | March 15
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| Settlement date: | March 20
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90303D551
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