Published on 10/27/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $1.65 million 14.4% trigger autocallable yield notes tied to three stocks
By William Gullotti
Buffalo, N.Y., Oct. 27 – UBS AG, London Branch priced $1.65 million of 14.4% trigger autocallable yield notes due Oct. 23, 2026 linked to the stock performance of Amazon.com, Inc., Berkshire Hathaway Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly.
The notes will be automatically called at par plus a fixed coupon if each stock closes at or above its initial level on any monthly valuation date after six months.
If the notes have not been called and each stock finishes at or above its 60% downside threshold, the payout at maturity will be par plus the final fixed coupon.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable yield notes
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Underlying stocks: | Amazon.com, Inc., Berkshire Hathaway Inc., Tesla, Inc.
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Amount: | $1.65 million
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Maturity: | Oct. 23, 2026
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Coupon: | 14.4% per annum, payable monthly
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Price: | Par
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Payout at maturity: | If each stock finishes at or above its downside threshold, par plus final fixed coupon; otherwise, full exposure to decline of worst performer from initial level
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Call option: | Automatically par plus coupon if each stock closes at or above its initial level on any monthly valuation date after six months
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Initial levels: | $125.17 for Amazon, $335.86 for Berkshire Hathaway, $211.99 for Tesla
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Downside thresholds: | $75.10 for Amazon, $201.52 for Berkshire Hathaway, $127.19 for Tesla; 60% of initial levels
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Pricing date: | Oct. 20
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Settlement date: | Oct. 25
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.25%
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Cusip: | 90279WJZ8
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