Published on 6/29/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $921,000 trigger autocallable contingent yield notes with memory on stocks
By Kiku Steinfeld
Chicago, June 29 – UBS AG, London Branch priced $921,000 of trigger autocallable contingent yield notes with memory interest due Feb. 6, 2026 linked to the common stocks of Goldman Sachs Group, Inc., Amazon.com, Inc. and Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 17.4% if each stock closes at or above its coupon barrier level, 70% of its initial level, on the related monthly observation date, in which case any previously unpaid coupons will also be paid.
The notes will be called at par plus the coupon and any previously unpaid coupons if each stock closes at or above its initial level on any monthly observation date after three months.
The payout at maturity will be par plus any previously unpaid coupons unless any stock finishes below its 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the lesser performing stock from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying stocks: | Amazon.com, Inc., Boeing Co. and Goldman Sachs Group, Inc.
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| Amount: | $921,000
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| Maturity: | Feb. 6, 2026
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| Coupon: | 17.4%, payable each month that each stock closes at or above coupon barrier on observation date for that month, in which case any previously unpaid coupons will also be paid
|
| Price: | Par
|
| Call: | At par plus coupon and any previously unpaid coupons if each stock closes at or above initial level on any monthly observation date after three months
|
| Payout at maturity: | Par plus any previously unpaid coupons unless any stock finishes below downside threshold, in which case 1% loss for each 1% decline of lesser performing stock from initial level
|
| Initial levels: | $103.39 for Amazon, $206.01 for Boeing, $369.95 for Goldman
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| Coupon barriers: | $72.37 for Amazon, $144.21 for Boeing, $258.97 for Goldman; 70% of initial levels
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| Downside thresholds: | $72.37 for Amazon, $144.21 for Boeing, $258.97 for Goldman; 70% of initial levels
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| Pricing date: | Feb. 3, 2023
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| Settlement date: | Feb. 8, 2023
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 3.2%
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| Cusip: | 90279F3D1
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