Published on 3/27/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2.63 million trigger callable contingent yield notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, March 27 – UBS AG, London Branch priced $2.63 million of trigger callable contingent yield notes due March 21, 2024 linked to the performance of the stocks of Apple Inc., Intel Corp. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 15.75% if each stock’s closing level is at least 60% of its initial level on the corresponding observation date.
After six months, the notes will be callable at par on any monthly observation date.
If the notes are not called and each stock finishes at or above its 60% trigger level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the least-performing stock’s final level is below its initial level.
UBS Financial Services Inc. 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 stocks: | Apple Inc., Intel Corp., Microsoft Corp.
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| Amount: | $2.63 million
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| Maturity: | March 21, 2024
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| Coupon: | 15.75% per year, payable monthly if each stock closes at or above its coupon barrier on the relevant observation date
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless any stock finishes below its trigger level, in which case full exposure to the losses of the worst performing stock
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| Call option: | At par on any monthly observation date after six months
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| Initial levels: | $155.00 for Apple, $29.81 for Intel, $279.43 for Microsoft
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| Coupon barrier levels: | $93.00 for Apple, $17.89 for Intel, $167.66 for Microsoft; 60% of initial levels
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| Trigger levels: | $93.00 for Apple, $17.89 for Intel, $167.66 for Microsoft; 60% of initial levels
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| Pricing date: | March 17
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| Settlement date: | March 22
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90279GAH2
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