By Wendy Van Sickle
Columbus, Ohio, Oct. 28 – UBS AG, London Branch priced $6.1 million of trigger autocallable contingent yield notes due Oct. 26, 2023 linked to the common stock of Comcast 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 8% if the stock closes at or above its coupon barrier level, 62% of its initial level, on the related quarterly observation date.
The notes will be called at par plus the coupon if the stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless the stock finishes below its 62% downside threshold level, in which case investors will lose 1% for each 1% decline of the stock from its initial level.
UBS Financial Services Inc. 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 stock: | Comcast Corp.
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Amount: | $6,097,500
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Maturity: | Oct. 26, 2023
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Coupon: | 8% annual rate, payable each quarter that stock closes at or above coupon barrier on observation date for that quarter
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Price: | Par
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Call: | At par plus the coupon if stock closes at or above initial level on any quarterly observation date after six months
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Payout at maturity: | Par unless stock finishes below downside threshold, in which case 1% loss for each 1% decline from initial level
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Initial level: | $45.06
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Downside threshold/coupon barrier: | $27.94; 62% of initial level
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Pricing date: | Oct. 23
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Settlement date: | Oct. 28
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2%
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Cusip: | 90278R163
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