Published on 4/3/2024 in the Prospect News Structured Products Daily.
New Issue: UBS prices $250,000 trigger autocallable contingent yield notes on stocks
By Kiku Steinfeld
Chicago, April 3 – UBS AG, London Branch priced $250,000 of trigger autocallable contingent yield notes due July 12, 2028 linked to the stock performance of Microsoft Corp., Alphabet Inc., Apple Inc. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at the rate of 10.55% per year if each stock closes at or above its coupon barrier, 60% of its initial level, on the corresponding observation date.
The notes will be automatically called at par plus coupon if the shares of each stock closes at or above its initial share price on any monthly call observation date starting after 12 months.
If the notes are not called and the final share price of each stock is greater than or equal to its 50% downside threshold, the payout at maturity will be par plus any final coupon.
Otherwise, investors will be fully exposed to the losses of the worst performer.
UBS Securities LLC 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 stocks: | Microsoft Corp., Alphabet Inc., Apple Inc. and Visa Inc.
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| Amount: | $250,000
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| Maturity: | July 12, 2028
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| Coupon: | 10.55% per year, paid monthly, if each stock closes at or above its coupon barrier on the related observation date
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| Price: | Par
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| Payout at maturity: | Par plus any final coupon if each stock finishes at or above its downside threshold; otherwise, full exposure to losses of worst performer
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any monthly call observation date starting after 12 months
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| Initial levels: | $190.68 for Apple, $120.14 for Alphabet, $337.22 for Mastercard, $236.45 for Visa
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| Coupon barrier levels: | $114.41 for Apple, $72.08 for Alphabet, $202.33 for Mastercard, $141.87 for Visa; 60% of initial levels
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| Downside thresholds: | $95.34 for Apple, $60.07 for Alphabet, $168.61 for Mastercard, $118.23 for Visa; 50% of initial levels
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| Pricing date: | July 7, 2023
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| Settlement date: | July 12, 2023
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 4%
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| Cusip: | 90279GWT2
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