E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 2/1/2024 in the Prospect News Structured Products Daily.

New Issue: UBS sells $1.34 million trigger autocallable contingent yield notes on four stocks

By Wendy Van Sickle

Columbus, Ohio, Feb. 1 – UBS AG, London Branch priced $1.34 million of trigger autocallable contingent yield notes due Jan. 31, 2029 linked to the least performing of the stocks of CrowdStrike Holdings, Inc., Nvidia Corp., Palo Alto Networks, Inc. and Snowflake Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at the rate of 17.5% per year if each stock closes at or above its coupon barrier, 50% of its initial level, on the related observation date.

The notes will be automatically called at par plus the coupon if the shares of each stock close at or above their initial share prices on any monthly call observation date after six months.

If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 50% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing stock is less than its initial share price.

UBS Securities LLC and UBS Investment Bank are the agents.

Issuer:UBS AG, London Branch
Issue:Trigger autocallable contingent yield notes
Underlying stocks:CrowdStrike Holdings, Inc., Nvidia Corp., Palo Alto Networks, Inc. and Snowflake Inc.
Amount:$1,336,000
Maturity:Jan. 31, 2029
Coupon:17.5% per year, paid monthly, if each stock closes at or above its coupon barrier on the related observation date
Price:Par
Payout at maturity:Par unless any stock finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard stock from initial level
Call:Automatically at par if each stock closes at or above initial level on any monthly call observation date starting after six months
Initial levels:$290.31 for CrowdStrike, $610.31 for Nvidia, $342.44 for Palo Alto, $202.51 for Snowflake
Coupon barrier levels:$145.16 for CrowdStrike, $305.16 for Nvidia, $171.22 for Palo Alto, $101.26 for Snowflake; 50% of initial levels
Downside threshold levels:$145.16 for CrowdStrike, $305.16 for Nvidia, $171.22 for Palo Alto, $101.26 for Snowflake; 50% of initial levels
Pricing date:Jan. 26
Settlement date:Jan. 31
Agents:UBS Securities LLC and UBS Investment Bank
Fees:4.25%
Cusip:90279WM84

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.