Published on 11/10/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.9 million trigger contingent yield notes linked to three stocks
Chicago, Nov. 10 – UBS AG, London Branch priced $1.9 million of trigger contingent yield notes due Nov. 13, 2026 linked to the least performing of the U.S. Bancorp, Western Alliance Bancorporation and Zions Bancorporation NA, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 24.3% per year if each stock’s closing level remains at or above its coupon barrier, 70% of its initial level on the related observation date.
If the notes are not called and each stock finishes at or above its downside threshold, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing stock’s final level is below its initial level.
UBS Securities LLC and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
|
Issue: | Trigger contingent yield notes
|
Underlying stocks: | U.S. Bancorp, Western Alliance Bancorporation and Zions Bancorporation NA
|
Amount: | $1,901,000
|
Maturity: | Nov. 13, 2026
|
Coupon: | 24.3% per year, payable monthly if each stock closes at or above its coupon barrier on related observation date
|
Price: | Par
|
Payout at maturity: | If each stock finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing stock’s final level is below initial level
|
Initial levels: | $34.81 for U.S. Bancorp, $46.83 for Western, $34.10 for Zions
|
Coupon barriers: | $24.37 for U.S. Bancorp, $32.78 for Western, $23.87 for Zions, or 70% of initial levels
|
Downside thresholds: | $24.37 for U.S. Bancorp, $32.78 for Western, $23.87 for Zions, or 70% of initial levels
|
Pricing date: | Nov. 7
|
Settlement date: | Nov. 10
|
Underwriters: | UBS Securities LLC and UBS Investment Bank
|
Fees: | 0.5%
|
Cusip: | 90279WNZ3
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.