Published on 11/9/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $791,000 trigger autocallable contingent yield notes on three stocks
By Kiku Steinfeld
Chicago, Nov. 9 – UBS AG, London Branch priced $791,000 of trigger autocallable contingent yield notes due April 15, 2026 linked to the stock performance of Berkshire Hathaway Inc., Goldman Sachs Group, Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at the rate of 12.55% 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 100% of its initial share price on any monthly call date after three months.
If the notes are not called and the final share price of each stock is greater than or equal to its downside threshold level, 60% of the initial share price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be exposed to the losses of the worst performing stock.
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: | Berkshire Hathaway Inc., Goldman Sachs Group, Inc. and Microsoft Corp.
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| Amount: | $791,000
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| Maturity: | April 15, 2026
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| Coupon: | 12.55% 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 final coupon if each stock finishes at or above its downside threshold level; otherwise, investors will be exposed to the losses of the worst performing stock
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| Call: | Automatically at par plus coupon if each stock closes at or above 100% of its initial level on any monthly call date after three months
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| Initial levels: | $312.62 for Berkshire, $324.96 for Goldman, $289.39 for Microsoft
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| Coupon barrier levels: | $187.57 for Berkshire, $194.98 for Goldman, $173.63 for Microsoft, 60% of initial levels
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| Downside thresholds: | $187.57 for Berkshire, $194.98 for Goldman, $173.63 for Microsoft, 60% of initial levels
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| Pricing date: | April 10, 2023
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| Settlement date: | April 13, 2023
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3.25%
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| Cusip: | 90279GBH1
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