UBS plans trigger phoenix autocallables on Euro Stoxx 50, S&P 500

By Toni Weeks

San Luis Obispo, Calif., May 19 – UBS AG, London Branch plans to price trigger phoenix autocallable optimization securities due May 30, 2025 linked to the least performing of the Euro Stoxx 50 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7% to 7.5% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter. The exact coupon will be set at pricing.

The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date beginning after one year.

If the notes are not called and each index finishes at or above its 70% coupon barrier level, the payout at maturity will be par plus the contingent coupon.

If either index finishes below the 70% barrier but each index finishes at or above the trigger level, 50% of the initial level, the payout will be par.

Otherwise, investors will be fully exposed to any losses of the worst-performing index.

The notes (Cusip: 90274T494) are expected to price May 27 and settle May 29.

UBS Financial Services Inc. and UBS Investment Bank are the agents.

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