Published on 12/11/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $750,000 trigger autocallable contingent yield notes on three stocks
Chicago, Dec. 11 – UBS AG, London Branch priced $750,000 of trigger autocallable contingent yield notes due May 7, 2026 linked to the least performing of the stocks of Apple Inc., Walt Disney Co. and Lowe’s Cos., Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at the rate of 12% per year if each stock closes at or above its coupon barrier, 60% of its initial level, on any related observation date.
The notes will be automatically called at par plus the coupon if the shares of each stock close at or above 95% of their initial share prices 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, 60% 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 contingent yield notes
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Underlying stocks: | Apple Inc., Walt Disney Co. and Lowe’s Cos., Inc.
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Amount: | $750,000
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Maturity: | May 7, 2026
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Coupon: | 12% per year, paid monthly, if each stock closes at or above its coupon barrier on any related observation date
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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 95% of its initial level on any monthly call observation date starting after three months
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Initial levels: | $167.45 for Apple, $100.86 for Disney, $205.31 for Lowe’s
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Coupon barrier levels: | $100.47 for Apple, $60.52 for Disney, $123.19 for Lowe’s; 60% of initial levels
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Downside threshold levels: | $100.47 for Apple, $60.52 for Disney, $123.19 for Lowe’s; 60% of initial levels
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Call levels: | $159.08 for Apple, $95.82 for Disney, $195.04 for Lowe’s; 95% of initial levels
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Pricing date: | May 3, 2023
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Settlement date: | May 8, 2023
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 3.25%
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Cusip: | 90279GGM5
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