Published on 9/4/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $370,000 trigger autocallable notes on basket of airline stocks
By Kiku Steinfeld
Chicago, Sept. 6 – UBS AG, London Branch priced $370,000 of 0% trigger autocallable notes due Jan. 26, 2027 linked to an equally-weighted basket consisting of Alaska Air Group, Inc., Delta Air Lines, Inc., Southwest Airlines Co. and United Airlines Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at 9.05% yearly if the basket closes at or above its initial level on any annual observation date starting Jan. 27, 2023. If the notes are not called and the basket finishes at or above its trigger level, 60% of the initial level, the payout at maturity will be par. Otherwise, investors will be exposed to the decline of the basket from the initial level.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable notes
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| Underlying stocks: | Alaska Air Group, Inc., Delta Air Lines, Inc., Southwest Airlines Co. and United Airlines Holdings, Inc., equally-weighted
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| Amount: | $370,000
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| Maturity: | Jan. 26, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par if basket finishes at or above trigger level; otherwise, full exposure to decline
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| Call: | Automatically at 9.05% yearly if the basket closes at or above its initial level on any annual observation date starting Jan. 27, 2023
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| Initial basket level: | $52.02 for Alaska, $37.86 for Delta, $43.37 for Southwest, $41.65 for United
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| Trigger level: | 60% of initial level
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| Pricing date: | Jan. 21, 2022
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| Settlement date: | Jan. 26, 2022
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| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 3.75%
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| Cusip: | 90279DUJ3
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