Published on 11/22/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $900,000 trigger autocallable contingent yield notes on United Airlines
By Kiku Steinfeld
Chicago, Nov. 22 – UBS AG, London Branch priced $900,000 of trigger autocallable contingent yield notes due March 26, 2025linked to the common stock of United Airlines Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 21.15% if the stock closes at or above its coupon barrier level, 60% of its initial level, on the related monthly observation date.
The notes will be called at par plus the coupon if the stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless the stock finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the stock from its initial level, payable in 244.7980 shares or cash at option of issuer.
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 stock: | United Airlines Holdings, Inc.
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| Amount: | $900,000
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| Maturity: | March 26, 2025
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| Coupon: | 21.15% annual rate, payable each month that stock closes at or above coupon barrier on observation date for that month
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| Price: | Par of $10,000
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| Call: | At par plus coupon if stock closes at or above initial level on any quarterly observation date after six months
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| Payout at maturity: | Par unless stock finishes below downside threshold, in which case 1% loss for each 1% decline from initial level, 244.7980 shares or cash at option of issuer
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| Initial level: | $40.85
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| Downside threshold/coupon barrier: | $24.51, 60% of initial level
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| Pricing date: | March 21, 2022
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| Settlement date: | March 24, 2022
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2%
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| Cusip: | 90279D2N5
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