By Angela McDaniels
Tacoma, Wash., April 25 – UBS AG, London Branch priced $1.5 million of trigger autocallable contingent yield notes due July 23, 2024 linked to the common stock of Devon Energy 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 15.4% per year if Devon Energy shares close at or above the downside threshold level, 65% of the initial share price, on the observation date for that month.
The notes will be automatically called at par of $10 if Devon Energy shares close at or above the initial share price on any monthly observation date.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
UBS Financial Services Inc. 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 stock: | Devon Energy Corp.
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Amount: | $1.5 million
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Maturity: | July 23, 2024
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Coupon: | 15.4% per year, payable monthly if Devon Energy shares close at or above downside threshold level on observation date for that month
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Price: | Par
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Payout at maturity: | If final share price is greater than or equal to the downside threshold level, par; otherwise, 1% loss for every 1% that final share price is less than initial share price
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Call: | Automatically at par if Devon Energy shares close at or above initial share price on any monthly observation date
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Initial share price: | $48.92
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Downside threshold: | $31.80, or 65% of initial share price
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Strike date: | July 17, 2023
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Pricing date: | July 18, 2023
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Settlement date: | July 20, 2023
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.25%
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Cusip: | 90289Y249
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