Published on 3/31/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $634,000 trigger autocallable yield notes on two stocks
By Kiku Steinfeld
Chicago, April 1 – UBS AG, London Branch priced $634,000 of trigger autocallable yield notes due July 3, 2025 linked to the common stocks of FedEx Corp. and U.S. Bancorp, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a coupon at the rate of 10.15% per year.
The notes will be automatically called at par if the shares of each stock closes at or above 95% of its initial share price on any monthly call observation date after three 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
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| Issue: | Trigger autocallable yield notes
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| Underlying stocks: | FedEx Corp. and U.S. Bancorp
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| Amount: | $634,000
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| Maturity: | July 3, 2025
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| Contingent coupon: | 10.15%, paid monthly
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| Price: | Par
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| 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
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| Call: | Automatically at par due if each stock closes at or above 95% of initial level on any monthly call observation date after three months
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| Initial levels: | $247.90 for FedEx, $33.04 for Bancorp
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| Downside thresholds: | $123.95 for FedEx, $16.52 for Bancorp; 50% of initial levels
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| Pricing date: | June 30, 2023
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| Settlement date: | July 6, 2023
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3%
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| Cusip: | 90279GSK6
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