Published on 9/12/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $500,000 trigger autocallables linked to FedEx, JPMorgan
By Angela McDaniels
Tacoma, Wash., Sept. 12 – UBS AG, London Branch priced $500,000 of trigger autocallable contingent yield notes due Sept. 6, 2024 linked to lesser performing of the common stocks of FedEx Corp. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 11.3% per year if each stock closes at or above its coupon barrier level, 60% of its initial share price, on the observation date for that month.
After three months, the notes will be automatically called at par if each stock closes at or above its initial share price on any monthly observation date.
If the notes are not called and the lesser performing stock’s final share price is greater than or equal to its downside threshold level, 60% of its initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the lesser performing stock’s final share price is less than its initial share price.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stocks: | FedEx Corp. and JPMorgan Chase & Co.
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| Amount: | $500,000
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| Maturity: | Sept. 6, 2024
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| Coupon: | Each month, notes pay contingent coupon at rate of 11.3% per year if each stock closes at or above coupon barrier level on observation date for that month
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| Price: | Par
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| Payout at maturity: | If notes are not called and lesser performing stock’s final share price is greater than or equal to downside threshold level, par; otherwise, 1% loss for every 1% that lesser performing stock’s final share price is less than initial share price
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| Call: | After three months, automatically at par if each stock closes at or above initial share price on any monthly observation date
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| Initial share prices: | $208.72 for FedEx and $113.71 for JPMorgan
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| Coupon barriers: | $125.23 for FedEx and $68.23 for JPMorgan, or 60% of initial share prices
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| Downside thresholds: | $125.23 for FedEx and $68.23 for JPMorgan, or 60% of initial share prices
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| Pricing date: | Sept. 2, 2022
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| Settlement date: | Sept. 8, 2022
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3%
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| Cusip: | 90279FRJ2
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