Published on 2/3/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $500,000 trigger autocallable contingent yield notes on stocks, ETF
By Kiku Steinfeld
Chicago, Feb. 3 – UBS AG, London Branch priced $500,000 of trigger autocallable contingent yield notes due Nov. 7, 2024 linked to the least performing of the shares of Generac Holdings Inc., Meta Platforms, Inc. and iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at the rate of 27.1% per year if each asset closes at or above its coupon barrier, 60% of its initial level, on the related observation date.
The notes will be automatically called at par plus coupon if each asset closes at or above its initial level on any monthly call observation date after one year.
If the notes are not called and the final level of each asset is greater than or equal to the 50% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level, payable in shares or in 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 contingent yield notes
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| Underlying assets: | Generac Holdings Inc., Meta Platforms, Inc. and iShares Silver Trust
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| Amount: | $500,000
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| Maturity: | Nov. 7, 2024
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| Coupon: | 27.1% per year, paid monthly, if each asset closes at or above its coupon barrier on any related observation date
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| Price: | Par
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| Payout at maturity: | If each asset finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline of laggard asset from initial level, payable in shares or in cash at the issuer’s option
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| Call: | Automatically at par plus coupon if each asset closes at or above initial level on any monthly call observation date after one year
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| Initial levels: | $101.39 for Generac, $101.39 for Meta, $17.94 for ETF
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| Coupon barrier levels: | $60.83 for Generac, $53.35 for Meta, $10.76 for ETF; 60% of initial levels
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| Downside thresholds: | $50.70 for Generac, $44.46 for Meta, $8.97 for ETF; 50% of initial levels
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| Equity ratios: | 9.8629 for Generac, 11.2473 for Meta, 55.7414 for ETF
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| Pricing date: | Nov. 4, 2022
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| Settlement date: | Nov. 8, 2022
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3.5%
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| Cusip: | 90279FYA3
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