UBS AG - Final Initial Index Levels for the UBS Autocallable Note UBS007, linked to SPX, UKX, SX5E, and NKY Indices, due 2031
What this filing means
UBS AG has fixed the starting levels for its autocallable note UBS007, due 2031, after averaging each underlying index across four pricing dates from 17 July to 16 October 2026. The final initial levels are 7,624.99 for the S&P 500, 10,754.68 for the FTSE 100, 6,322.11 for the EURO STOXX 50 and 65,705.48 for the Nikkei 225. These are the reference points against which the note's future barrier and autocall tests will be measured.
This note pays out depending on whether four stock-market indices stay above certain levels. To judge that later, everyone first needs a starting score — and this notice supplies it, averaging each index over four dates. Nothing is being paid or decided today; it simply locks in the baseline the note will be measured against for the rest of its life.
Bear case
- Missing evidence: no coupon, barrier, autocall trigger, participation factor or maturity value is restated here, so the note's economics cannot be assessed from this filing.
AI-generated summary by SENS-AI, based on the original JSE SENS filing.
SENS-AI conclusion
A mechanical step in the life of a structured note, not an economic event. The averaging is complete and the four initial index levels are now fixed, which is the baseline every later barrier and autocall test will be measured against. Nothing here changes the note's payoff terms, its coupon or the issuer's credit standing, and no investor decision turns on it. So what: nothing changes today; the note's economics will be settled by the index levels at each future observation date, not by this baseline.
Future notices on the observation dates are where the market will see whether the indices sit above or below the note's barrier and autocall triggers.
Evidence from the filing
The notice is the completion of a previously announced averaging process.
“Further to the initial announcement dated 03 August 2026, Noteholders are advised that the arithmetic averaging process in respect of the underlying indices has been completed.”
The initial levels are arithmetic averages of four pricing dates.
“In accordance with the Terms and Conditions of the Notes, the Initial Level of each Index was determined as the arithmetic average of the Index Closing Levels on the four Pricing Dates set out below.”
The note's identity and maturity.
“Final Initial Index Levels for the UBS Autocallable Note linked to SPX, UKX, SX5E, and NKY Indices, due 2031 – Series 26.”
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