Published on 9/30/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $740,000 trigger autocallable contingent yield notes on Tesla
By Kiku Steinfeld
Chicago, Sept. 30 – UBS AG, London Branch priced $740,000 of trigger autocallable contingent yield notes due Feb. 6, 2025 linked to the least performing of the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at the rate of 21% per year if the stock closes at or above its coupon barrier, 60% of its initial level, on any related observation date.
The notes will be automatically called at par plus coupon if the shares of the stock close at or above initial share price, on any quarterly call observation date after one year.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 60% of the initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the final share price declines from its initial share price, payable as 10.7383 shares or cash at the issuer’s option.
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: | Tesla, Inc.
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| Amount: | $740,000
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| Maturity: | Feb. 6, 2025
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| Coupon: | 21% per year, paid monthly, if the stock closes at or above its coupon barrier on any related observation date
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| Price: | Par of $10,000
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| Payout at maturity: | Par plus the final coupon unless the stock finishes below downside threshold level, in which case 1% loss for each 1% decline from initial level, payable as 10.7383 shares or cash at the issuer’s option
|
| Call: | Automatically at par plus coupon if the stock closes at or above initial level, on any quarterly call observation date after one year
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| Initial level: | $931.25
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| Coupon barrier level: | $558.75; 60% of initial level
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| Downside threshold: | $558.75; 60% of initial level
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| Pricing date: | Feb. 1
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| Settlement date: | Feb. 4
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 2%
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| Cusip: | 90279DXE1
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