Published on 2/11/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $566,000 buffer autocallable contingent yield notes on four stocks
Chicago, Feb. 11 – UBS AG London Branch priced $566,000 of buffer autocallable contingent yield notes due May 29, 2026 linked to the stock performance of Apple Inc., Amazon.com, Inc., Alphabet Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.5% if each stock closes at or above its 60% coupon barrier on the relevant observation date.
The notes will be called at par plus coupon if each stock closes at or above its initial level on any monthly quarterly date after one year.
The payout at maturity will be par unless any stock finishes below its 80% buffer level, in which case investors will lose 1% for every 1% the worst performing stock declines beyond 20%.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Buffer autocallable contingent yield notes
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| Underlying stocks: | Apple Inc., Amazon.com, Inc., Alphabet Inc. and Microsoft Corp.
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| Amount: | $566,000
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| Maturity: | May 29, 2026
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| Coupon: | 11.5%, payable quarterly if each stock closes at or above coupon barrier on observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below buffer level, in which case 1% loss for each 1% decline of the worst performing stock beyond buffer
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| Call: | Automatically at par plus coupon if each stock closes at or above its initial level on any monthly review date after one year
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| Initial levels: | $172.99 for Apple, $115 for Amazon, $124.35 for Alphabet, $325.92 for Microsoft
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| Coupon barriers: | $103.79 for Apple, $69 for Amazon, $74.61 for Alphabet, $195.55 for Microsoft; 60% of initial levels
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| Buffer levels: | $138.39 for Apple, $92 for Amazon, $99.48 for Alphabet, $260.74 for Microsoft; 80% of initial levels
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| Pricing date: | May 25, 2023
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| Settlement date: | May 31, 2023
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 3%
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| Cusip: | 90279GHA0
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