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UBS eyes trigger autocallable contingent yield notes on stocks
By Sarah Lizee
Olympia, Wash., Jan. 16 – UBS AG, London Branch plans to price trigger autocallable contingent yield notes due Feb. 2, 2023 linked to the common stocks of Delta Air Lines, Inc., Home Depot, Inc., Intel Corp. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 10.2% per year if the shares of each stock close at or above the coupon barrier level, 60% of the initial share prices, on the observation date for that month.
The notes will be automatically called at par plus any coupon due if the shares of each stock close at or above 95% of its initial share price on any quarterly call observation date.
If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 60% 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.
The notes will price on Jan. 28.
The Cusip number is 90270K2F5.
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