Published on 5/18/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $60,000 trigger autocallable contingent yield notes on three stocks
Chicago, May 18 – UBS AG, London Branch priced $60,000 of trigger autocallable contingent yield notes due July 2, 2025 linked to the least performing of the common stocks of American Express Co., Home Depot, Inc. and Wendy’s Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at the rate of 13% per year if each stock closes at or above its coupon barrier, 55% 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 55% 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: | American Express Co., Home Depot, Inc. and Wendy’s Co.
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| Amount: | $60,000
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| Maturity: | July 2, 2025
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| Coupon: | 13% 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: | $144.29 for AmEx, $282.69 for Home Depot, $19.03 for Wendy’s
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| Coupon barrier levels: | $79.36 for AmEx, $155.48 for Home Depot, $10.47 for Wendy’s; 55% of initial levels
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| Downside thresholds: | $79.36 for AmEx, $155.48 for Home Depot, $10.47 for Wendy’s; 55% of initial levels
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| Pricing date: | June 27, 2022
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| Settlement date: | June 30, 2022
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3%
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| Cusip: | 90279FFE6
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