Published on 5/23/2023 in the Prospect News Structured Products Daily.
New Issue: UBS sells $511,000 trigger autocallable contingent yield notes on three stocks
By Kiku Steinfeld
Chicago, May 23 – UBS AG, London Branch priced $511,000 of trigger autocallable contingent yield notes due April 23, 2024 linked to the least performing of the common stocks of Berkshire Hathaway Inc., Goldman Sachs Group, Inc. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 11% per year if the least-performing stock closes at or above its coupon barrier, 70% of its initial share price, on the related observation date.
The notes will be automatically called at par if the least-performing stock closes at or above its initial share price on any monthly call observation date after six months.
If the notes are not called and the final share price of the least-performing stock is greater than or equal to that stock’s downside threshold level, 70% of its initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing stock’s final share price is less than its initial share price.
UBS Financial Services Inc. 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: | Berkshire Hathaway Inc., Goldman Sachs Group, Inc. and Walmart Inc.
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| Amount: | $511,000
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| Maturity: | April 23, 2024
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| Contingent coupon: | 11%, payable monthly if least-performing stock closes at or above coupon barrier level on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless least-performing stock finishes below downside threshold level, in which case 1% loss for each 1% that least-performing stock declines from initial price
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| Call: | Automatically at par if least-performing stock closes at or above initial share price on any monthly observation date after six months
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| Initial price: | $308.30 for Berkshire, $349.09 for Goldman, $140.84 for Walmart
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| Coupon barrier: | $215.81 for Berkshire, $244.36 for Goldman, $98.59 for Walmart, 70% of initial price
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| Downside threshold: | $215.81 for Berkshire, $244.36 for Goldman, $98.59 for Walmart, 70% of initial price
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| Pricing date: | Jan. 18, 2023
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| Settlement date: | Jan. 23, 2023
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2.5%
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| Cusip: | 90279F2H3
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