Published on 11/6/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $825,000 trigger autocallable contingent yield notes on three stocks
By Kiku Steinfeld
Chicago, Nov. 6 – UBS AG, London Branch priced $825,000 of trigger autocallable contingent yield notes due April 9, 2026 linked to the stock performance of Advanced Micro Devices, Inc., Intel Corp. and Verizon Communications Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at the rate of 19% per year if each stock closes at or above its coupon barrier, 60% of its initial level, on the corresponding observation date.
The notes will be automatically called at par plus coupon if the shares of each stock closes at or above 90% of its initial share price on any quarterly call date.
If the notes are not called and the final share price of each stock is greater than or equal to its downside threshold level, 60% of the initial share price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be exposed to the losses of the worst performing stock.
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: | Advanced Micro Devices, Inc., Intel Corp. and Verizon Communications Inc.
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Amount: | $825,000
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Maturity: | April 9, 2026
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Coupon: | 19% per year, paid monthly, if each stock closes at or above its coupon barrier on the related observation date
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Price: | Par
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Payout at maturity: | Par plus final coupon if each stock finishes at or above its downside threshold level; otherwise, investors will be exposed to the losses of the worst performing stock
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Call: | Automatically at par plus coupon if each stock closes at or above 90% of its initial level on any quarterly call date
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Initial levels: | $92.56 for AMD, $32.83 for Intel, $40.11 for Verizon
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Coupon barrier levels: | $55.54 for AMD, $19.70 for Intel, $19.70 for Verizon, 60% of initial levels
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Downside thresholds: | $55.54 for AMD, $19.70 for Intel, $19.70 for Verizon, 60% of initial levels
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Pricing date: | April 5, 2023
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Settlement date: | April 11, 2023
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 3.5%
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Cusip: | 90279GBM0
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