By Kiku Steinfeld
Chicago, Jan. 12 – UBS AG, London Branch priced $780,000 of trigger autocallable yield notes due May 1, 2024 linked to the stock performance of Alcoa Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annual rate of 13.4%.
The notes will be called at par plus the coupon on any quarterly observation date starting after six months if the stock closes above its initial level.
If the notes are not called and the stock finishes at or above its 50% trigger level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the stock’s decline from its initial level, payable in 282.0874 shares or cash at the issuer’s option.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable yield notes
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| Underlying stock: | Alcoa Corp.
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| Amount: | $780,000
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| Maturity: | May 1, 2024
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| Coupon: | 13.4% per year, payable monthly
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| Price: | Par of $10,000
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| Payout at maturity: | Par unless the stock finishes below its trigger level, in which case investors will be fully exposed to the stock’s decline from initial level, payable in 282.0874 shares or cash at the issuer’s option
|
| Call: | At par plus the coupon on any quarterly observation date starting after six months if stock closes above initial level
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| Initial level: | $35.45
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| Trigger level: | $17.73; 50% of initial level
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| Pricing date: | April 26, 2023
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| Settlement date: | May 1, 2023
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1%
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| Cusip: | 90279GFF1
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