Published on 11/6/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $848,000 16.5% trigger autocallable yield notes tied to three stocks
By Kiku Steinfeld
Chicago, Nov. 6 – UBS AG, London Branch priced $848,000 of 16.5% trigger autocallable yield notes due July 10, 2024 linked to the stock performance of Apple Inc., Berkshire Hathaway Inc. and Bank of America 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 monthly valuation date after three months.
If the notes have not been called and each stock finishes at or above its 70% 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 Financial Services Inc. 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., Berkshire Hathaway Inc. and Bank of America Corp.
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| Amount: | $848,000
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| Maturity: | July 10, 2024
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| Coupon: | 16.5% 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 par plus coupon if each stock closes at or above its initial level on any monthly valuation date after three months
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| Initial levels: | $165.63 for Apple, $27.98 for BofA, $309.07 for Berkshire
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| Downside thresholds: | $115.94 for Apple, $19.59 for BofA, $216.35 for Berkshire; 70% of initial levels
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| Pricing date: | April 4, 2023
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| Settlement date: | April 10, 2023
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1%
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| Cusip: | 90279GAJ8
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