Published on 9/25/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $656,000 trigger callable contingent yield notes on three car stocks
Chicago, Sept. 25 – UBS AG, London Branch priced $656,000 of trigger callable contingent yield notes due Sept. 25, 2025 linked to the worst performing of the stocks of Ford Motor Co., General Motors Co. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 25% if each stock’s closing level is at least 50% of its initial level on the observation date for that month.
The notes will be callable at par plus any coupon otherwise due on any monthly observation date after six months.
If the notes are not called and each stock finishes at or above its 50% trigger level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% that the least-performing stock’s final level is below its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger callable contingent yield notes
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| Underlying stocks: | Ford Motor Co., General Motors Co. and Tesla, Inc.
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| Amount: | $656,000
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| Maturity: | Sept. 25, 2025
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| Coupon: | 25% per year, payable monthly if each stock closes at or above its coupon barrier level on the observation date for that month
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any stock finishes below its trigger level, in which case full exposure to the losses of the worst performing stock
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| Call option: | At par plus any coupon otherwise due on any monthly observation date after six months
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| Initial levels: | $13.09 for Ford, $39.06 for GM, $308.73 for Tesla
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| Coupon barrier levels: | $6.55 for Ford, $19.53 for GM, $154.37 for Tesla; 50% of initial levels
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| Trigger levels: | $6.55 for Ford, $19.53 for GM, $154.37 for Tesla; 50% of initial levels
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| Pricing date: | Sept. 20, 2022
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| Settlement date: | Sept. 23, 2022
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1.25%
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| Cusip: | 90279FTE1
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