Published on 4/24/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $498,000 trigger autocallable contingent yield notes on three stocks
Chicago, April 24 – UBS AG, London Branch priced $498,000 of trigger autocallable contingent yield notes due May 30, 2025 linked to the stock performance of Walt Disney Co., Intel Corp. and Lowe’s Cos., Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at the rate of 14.5% per year if each stock closes at or above its coupon barrier, 60% of its initial level, on the corresponding observation date.
The notes will be automatically called at par plus the coupon if the shares of each stock closes at or above its initial share price on any quarterly call observation date after six months.
If the worst performer finishes above its 60% downside threshold, the payout will be par plus the coupon. Otherwise, investors will be fully exposed to the losses of the worst performer.
UBS Securities LLC 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 stocks: | Walt Disney Co., Intel Corp. and Lowe’s Cos., Inc.
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| Amount: | $498,000
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| Maturity: | May 30, 2025
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| Coupon: | 14.5% per year, paid monthly, if each stock closes at or above its coupon barrier on the related observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if all stocks close above downside threshold; otherwise, full exposure to losses of worst performer
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call observation date after six months
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| Initial levels: | $103.26 for Disney, $42.20 for Intel, $188.55 for Lowe’s
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| Coupon barrier levels: | $61.96 for Disney, $25.32 for Intel, $113.13 for Lowe’s; 60% of initial levels
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| Downside thresholds: | $61.96 for Disney, $25.32 for Intel, $113.13 for Lowe’s; 60% of initial levels
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| Pricing date: | May 25, 2022
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| Settlement date: | May 31, 2022
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3%
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| Cusip: | 90279FAP6
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