Published on 5/24/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $683,000 trigger autocallable yield notes on three stocks
Chicago, March 24 – UBS AG, London Branch priced $683,000 of trigger autocallable yield notes due April 3, 2023 linked to the least performing of the common stocks of Apple Inc., Berkshire Hathaway Inc., and Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a coupon at the rate of 15% per year.
The notes will be automatically called at par if the shares of each stock closes at or above 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, 70% 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: | Apple Inc., Berkshire Hathaway Inc., and Bank of America Corp.
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| Amount: | $683,000
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| Maturity: | April 3, 2023
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| Contingent coupon: | 15% annual rate, 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 if each stock closes at or above initial level on any monthly call observation date after three months
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| Initial levels: | $139.23 for Apple, $273.49 for Berkshire Hathaway, $31.86 for Bank of America
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| Downside thresholds: | $97.46 for Apple, $191.44 for Berkshire Hathaway, $22.30 for Bank of America; 70% of initial levels
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| Pricing date: | June 29, 2022
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| Settlement date: | July 5, 2022
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1%
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| Cusip: | 90279FHP9
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