Published on 11/4/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $99,970 9.54% trigger yield optimization notes on Target
By Kiku Steinfeld
Chicago, Nov. 6 – UBS AG, London Branch priced $99,970.2 of 9.54% trigger yield optimization notes due Oct. 10, 2024 linked to the common stock of Target Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The face amount of each note is $165.24, which is equal to the initial share price of Target stock.
Interest is payable monthly.
The payout at maturity will be par unless the final price of Target stock is less than 80% of the initial share price, in which case investors will be exposed to the share price decline from the initial price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Trigger yield optimization notes
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Underlying stock: | Target Corp. (NYSE: TGT)
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Amount: | $99,970.2
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Maturity: | Oct. 10, 2024
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Coupon: | 9.54%, payable monthly
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Price: | Par of $165.24
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Payout at maturity: | Par unless the final price of Target stock is less than 80% of the initial share price, in which case investors will be exposed to the share price decline from the initial price
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Initial share price: | $165.24
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Trigger price: | $132.19, 80% of initial price
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Pricing date: | April 5, 2023
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Settlement date: | April 10, 2023
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.19%
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Cusip: | 90286J765
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