Published on 2/15/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $938,000 trigger autocallable contingent yield notes on three stocks
Chicago, Feb. 15 – UBS AG, London Branch priced $938,000 of trigger autocallable contingent yield notes due Jan. 7, 2027 linked to the least performing of the stocks of Eli Lilly and Co., NIKE, Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at the rate of 20% per year if each stock closes at or above its coupon barrier, 70% of its initial level, on the related observation date.
The notes will be automatically called at par plus the coupon if the shares of each stock close at or above their initial share prices on any monthly call observation date after six months.
If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 60% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing stock is less than its initial share price.
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: | Eli Lilly and Co., NIKE, Inc. and Tesla, Inc.
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Amount: | $938,000
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Maturity: | Jan. 7, 2027
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Coupon: | 20% 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 unless any stock finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard stock from initial level
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Call: | Automatically at par if each stock closes at or above initial level on any monthly call observation date starting after six months
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Initial levels: | $614.50 for Lilly, $102.30 for NIKE, $237.93 for Tesla
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Coupon barrier levels: | $430.15 for Lilly, $71.61 for NIKE, $166.55 for Tesla; 70% of initial levels
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Downside threshold levels: | $368.70 for Lilly, $61.38 for NIKE, $142.76 for Tesla; 60% of initial levels
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Pricing date: | Jan. 4
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Settlement date: | Jan. 9
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 3%
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Cusip: | 90279WC93
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