Published on 2/11/2024 in the Prospect News Structured Products Daily.
New Issue: UBS sells $253,000 trigger autocallable yield notes tied to three stocks
Chicago, Feb. 11 – UBS AG, London Branch priced $253,000 of 18.5% trigger autocallable yield notes due May 22, 2025 linked to the stock performance of MetLife, Inc., Palantir Technologies Inc. and Warner Bros. Discovery, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly.
The notes will be automatically called at par plus the fixed coupon if each stock closes at or above its initial level on any quarterly valuation date after six months.
If the notes have not been called and each stock finishes at or above its 50% downside threshold, the payout at maturity will be par plus the final fixed coupon.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level, with the fixed coupon.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable yield notes
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| Underlying stocks: | MetLife, Inc., Palantir Technologies Inc. and Warner Bros. Discovery, Inc.
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| Amount: | $253,000
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| Maturity: | May 22, 2025
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| Coupon: | 18.5% per annum, payable monthly
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above its downside threshold, par plus final fixed coupon; otherwise, full exposure to decline of worst performer from initial level with final coupon
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| Call option: | Automatically par plus coupon if each stock closes at or above its initial level on any quarterly valuation date starting after six months
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| Initial levels: | $51.58 for MetLife, $11.71 for Palantir, $12.20 for WB
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| Downside thresholds: | $25.79 for MetLife, $5.86 for Palantir, $6.10 for WB; 50% of initial levels
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| Strike date: | May 19, 2022
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| Pricing date: | May 22, 2023
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| Settlement date: | May 25, 2023
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.75%
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| Cusip: | 90279GKW8
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