Published on 2/1/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $850,000 capped buffer enhanced contingent notes on index, ETF
Chicago, Feb. 1 – UBS AG, London Branch priced $850,000 of 0% capped buffer enhanced contingent absolute return securities due July 15, 2025 linked to the worst performing of the S&P 500 index and the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
At maturity, if both assets finish positive investors will receive par plus the return of the lesser performing asset capped at 10%.
Investors will receive par plus double the absolute return of the worse performer if that asset finishes below its initial level and above the 80% downside threshold.
Otherwise, investors will have a 1% loss for each 1% decline beyond the 20% buffer.
UBS Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Capped buffer enhanced contingent absolute return securities
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Underlying assets: | S&P 500 index, Invesco QQQ Trust, Series 1
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Amount: | $850,000
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Maturity: | July 15, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus return of lesser performer capped at 10% if both assets finish positive; par plus double absolute vale of worse performer if final level is below initial level but above downside threshold level; otherwise, 1% loss for each 1% decline of worse performer beyond 20% buffer
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Call option: | Non-callable
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Initial levels: | $408.50 for fund, 4,783.45 for index
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Downside threshold levels: | $326.80 for fund, 3,826.76 for index; 80% of initial levels
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Buffer: | 20%
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Pricing date: | Jan. 10
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Settlement date: | Jan. 16
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 0.75%
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Cusip: | 90279WE26
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