Published on 12/5/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $570,000 trigger autocallable contingent yield notes on Tesla
By Kiku Steinfeld
Chicago, Dec. 5 – UBS AG, London Branch priced $570,000 of trigger autocallable contingent yield notes due April 4, 2024 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
A contingent interest payment based on an annual rate of 20% will be paid monthly if the stock closes above its 60% downside threshold level on the related determination date.
The notes will be called at par if the shares close at or above the initial share price on any quarterly call observation date after one year.
If the notes are not called, the payout at maturity will be par unless the final price of the stock is less than 60% of the initial share price, in which case investors will receive par plus the return payable as 9.1409 shares.
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 stock: | Tesla, Inc.
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Amount: | $570,000
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Maturity: | April 4, 2024
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Coupon: | 20% annual rate, payable monthly if stock closes above downside threshold level on related determination date
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Price: | Par of $10,000
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Payout at maturity: | Par unless final share price is less than downside threshold level, in which case par plus the return payable as 9.1409 shares
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Call: | Automatically at par if shares close at or above initial share price on any quarterly call observation date after one year
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Initial share price: | $1,093.99
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Coupon barrier level: | $656.39, 60% of initial price
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Downside threshold level: | $656.39, 60% of initial price
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Pricing date: | March 30
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Settlement date: | April 4
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 1.75%
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Cusip: | 90279DV86
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