Published on 4/24/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $890,000 phoenix autocallables with memory linked to NIKE
Chicago, April 24 – UBS AG, London Branch priced $890,000 of phoenix autocallable notes with memory interest due May 30, 2025 linked to the common stock of NIKE, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If NIKE stock closes at or above the trigger price – 80% of the initial share price – on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the rate of 14.75%. Previously unpaid coupons will also be paid.
If the shares close at or above the initial price on a quarterly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and NIKE shares finish at or above the 80% trigger price, the payout at maturity will be par plus any contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
J.P. Morgan Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
|
Issue: | Phoenix autocallable notes with memory interest
|
Underlying stock: | NIKE, Inc. (NYSE: NKE)
|
Amount: | $890,000
|
Maturity: | May 30, 2025
|
Coupon: | 14.75% annual rate, payable quarterly if stock closes at or above interest barrier price on observation date for that quarter; previously unpaid coupons will also be paid
|
Price: | Par
|
Payout at maturity: | Par plus contingent coupon if NIKE shares finish at or above trigger price; otherwise, par plus stock return
|
Call: | Automatically at par plus contingent coupon if NIKE shares close at or above initial price on a quarterly observation date
|
Initial share price: | $108.20
|
Interest barrier level: | $86.56, 80% of initial price
|
Trigger price: | $86.56, 80% of initial price
|
Pricing date: | May 25, 2022
|
Settlement date: | May 31, 2022
|
Agents: | J.P. Morgan Securities LLC and UBS Investment Bank
|
Fees: | 2%
|
Cusip: | 90279FET4
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.