Published on 8/2/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $2.24 million buffer autocallable contingent yield notes on four stocks
Chicago, Aug. 2 – UBS AG, London Branch priced $2.24 million of buffer autocallable contingent yield notes due July 30, 2026 linked to the least performing of the stocks of Apple Inc., Amazon.com, Inc., Alphabet Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly at a 10.75% annual rate if all four stocks close above the 60% coupon barrier level on the related observation date.
The notes will be automatically called at par if each stock closes at or above its initial level on any quarterly valuation date after one year.
If the notes have not been called and each stock finishes at or above its 80% downside threshold, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond the 20% buffer.
UBS Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
|
Issue: | Buffer autocallable contingent yield notes
|
Underlying stocks: | Apple Inc., Amazon.com, Inc., Alphabet Inc. and Microsoft Corp.
|
Amount: | $2,239,000
|
Maturity: | July 30, 2026
|
Coupon: | 10.75% per annum, payable monthly if all four stocks close above coupon barrier levels on related observation date
|
Price: | Par
|
Payout at maturity: | If each stock finishes at or above its downside threshold, par; otherwise, 1% loss for each 1% decline beyond 20% buffer
|
Call option: | Automatically at par if each stock closes at or above its initial level on any quarterly valuation date after one year
|
Initial levels: | $194.50 for Apple, $128.15 for Amazon, $129.66 for Alphabet and $337.77 for Microsoft
|
Coupon barrier levels: | $116.70 for Apple, $76.89 for Amazon, $77.80 for Alphabet and $202.66 for Microsoft; 60% of initial levels
|
Downside thresholds: | $155.60 for Apple, $102.52 for Amazon, $103.73 for Alphabet and $270.22 for Microsoft, or 80% of initial levels
|
Pricing date: | July 26
|
Settlement date: | July 31
|
Agents: | UBS Securities LLC and UBS Investment Bank
|
Fees: | 3%
|
Cusip: | 90279GXC8
|
|
© 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.