Published on 1/12/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $715,000 9.5% trigger autocallable yield notes on four tech stocks
By Kiku Steinfeld
Chicago, Jan. 12 – UBS AG, London Branch priced $715,000 of 9.5% trigger autocallable yield notes due April 30, 2026 linked to the performance of the stocks of Apple Inc., Amazon.com, Inc., Alphabet Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly.
The notes will be automatically called at par plus a fixed coupon if each stock closes at or above its initial level on any quarterly valuation date after six months.
If the notes have not been called and each stock finishes at or above its 50% downside threshold, the payout at maturity will be par plus the final fixed coupon.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable yield notes
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| Underlying stocks: | Apple Inc., Amazon.com, Inc, Alphabet Inc. and Microsoft Corp.
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| Amount: | $715,000
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| Maturity: | April 30, 2026
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| Coupon: | 9.5% per annum, payable monthly
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above its downside threshold, par plus final fixed coupon; otherwise, full exposure to decline of worst performer from initial level
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| Call option: | Automatically at par plus coupon if each stock closes at or above its initial level on any quarterly valuation date after six months
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| Initial levels: | $163.77 for Apple, $104.61 for Amazon, $104.61 for Alphabet, $275.42 for Microsoft
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| Downside thresholds: | $81.89 for Apple, $51.29 for Amazon, $52.31 for Alphabet, $137.71 for Microsoft, 50% of initial levels
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| Pricing date: | April 25, 2023
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| Settlement date: | April 28, 2023
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3%
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| Cusip: | 90279GCE7
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