Published on 5/22/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $713,000 trigger callable contingent yield notes linked to four stocks
By Angela McDaniels
Tacoma, Wash., May 22 – UBS AG, London Branch priced $713,000 of trigger callable contingent yield notes due June 5, 2025 linked to the common stocks of Apple Inc., Amazon.com, Inc., Meta Platforms, Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 20% per year if each stock closes at or above its coupon barrier, 70% of its initial share price, on the review date for that month.
Beginning after 12 months, the notes are callable at par monthly.
The payout at maturity will be par unless the least-performing stock finishes below its downside threshold, 60% of its initial share price, in which case investors will lose 1% for every 1% that the least-performing index declines from 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 callable contingent yield notes
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| Underlying indexes: | Apple Inc., Amazon.com, Inc., Meta Platforms, Inc. and Alphabet Inc.
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| Amount: | $713,000
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| Maturity: | June 5, 2025
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| Coupon: | 20% per year, payable monthly if each stock closes at or above coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless least-performing stock finishes below downside threshold, in which case 1% loss for every 1% that least-performing index declines from initial share price
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| Call option: | Beginning after 12 months, callable at par monthly
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| Initial share prices: | $151.21 for Apple, $2,510.22 for Amazon, $198.86 for Meta and $2,352.45 for Alphabet
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| Coupon barriers: | $105.85 for Apple, $1,757.15 for Amazon, $139.20 for Meta and $1,646.72 for Alphabet, or 70% of initial share prices
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| Downside thresholds: | $90.73 for Apple, $1,506.13 for Amazon, $119.32 for Meta and $1,411.47 for Alphabet, or 60% of initial share prices
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| Pricing date: | June 2, 2022
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| Settlement date: | June 7, 2022
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.4%
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| Cusip: | 90279FFT3
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