Published on 4/18/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $530,000 trigger autocallable contingent yield notes on three tech stocks
By Kiku Steinfeld
Chicago, April 18 – UBS AG, London Branch priced $530,000 of trigger autocallable contingent yield notes due Dec. 23, 2027 linked to the stock performance of Amazon.com, Inc., Microsoft Corp. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at the rate of 13% per year if each stock closes at or above its coupon barrier, 50% of its initial level, on the corresponding observation date.
The notes will be automatically called at par plus the coupon if the shares of each stock closes at or above its initial share price on any quarterly call observation date after one year.
If the worst performer finishes above its 50% downside threshold, the payout will be par plus the coupon. Otherwise, investors will be fully exposed to the losses of the worst performer, payable in shares or cash at the option of the issuer.
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: | Amazon.com, Inc., Microsoft Corp., Apple Inc.
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| Amount: | $530,000
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| Maturity: | Dec. 23, 2027
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| Coupon: | 13% 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 all stocks close above downside threshold; otherwise, full exposure to losses of worst performer, payable in shares or cash at the option of the issuer
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call observation date after one year
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| Initial levels: | $132.30 for Apple, $85.19 for Amazon, $241.80 for Microsoft
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| Coupon barrier levels: | $66.15 for Apple, $42.60 for Amazon, $120.90 for Microsoft; 50% of initial levels
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| Downside thresholds: | $66.15 for Apple, $42.60 for Amazon, $120.90 for Microsoft; 50% of initial levels
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| Equity ratios: | 7.5586 for Apple, 11.7385 for Amazon, 4.1356 for Microsoft
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 23
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90279FJ51
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