Published on 12/14/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $488,000 trigger autocallable yield notes on three stocks
By Kiku Steinfeld
Chicago, Dec. 14 – UBS AG, London Branch priced $488,000 of trigger autocallable yield notes due April 29, 2025 linked to the least performing of the common stocks of Home Depot, Inc., Starbucks Corp. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a coupon at the rate of 13.15% per year.
The notes will be automatically called at par if the shares of each stock closes at or above 90% the initial share price on any monthly call observation date after six months.
If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 50% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing stock is less than its initial share price.
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 stocks: | Home Depot, Inc., Starbucks Corp. and Tesla, Inc.
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| Amount: | $488,000
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| Maturity: | April 29, 2025
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| Contingent coupon: | 13.15% annual rate, paid monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard stock from initial level
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| Call: | Automatically at par if each stock closes at or above 90% of its initial level on any monthly call observation date after six months
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| Initial levels: | $301.64 for Home Depot, $109.29 for Starbucks, $162.55 for Tesla
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| Downside thresholds: | $150.82 for Home Depot, $54.65 for Starbucks, $81.28 for Tesla, 50% of initial levels
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| Pricing date: | April 24, 2023
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| Settlement date: | April 27, 2023
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3%
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| Cusip: | 90279GER6
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