Published on 2/27/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.66 million trigger autocallable contingent yield notes on three stocks
By Kiku Steinfeld
Chicago, Feb. 28 – UBS AG, London Branch priced $1.66 million of trigger autocallable contingent yield notes due Sept. 12, 2024 linked to the least performing of the common stocks of Ford Motor Co., Lyft, Inc. and Uber Technologies, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at the rate of 11.9% per year if each stock closes at or above its coupon barrier, 60% of its initial level, on any related observation date.
The notes will be automatically called at par plus the coupon if the shares of each stock close at or above 90% of its initial share price on any quarterly call observation date.
If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 60% of the initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% decline of the least performing stock, paid in shares of cash at the issuer’s option.
UBS Securities LLC 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 stocks: | Ford Motor Co., Lyft, Inc. and Uber Technologies, Inc.
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| Amount: | $1,655,000
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| Maturity: | Sept. 12, 2024
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| Coupon: | 11.9% per year, paid monthly, if each stock closes at or above its coupon barrier on any related observation date
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| Price: | Par
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| Payout at maturity: | Par plus any coupon due unless any stock finishes below downside threshold level, in which case investors will investors will lose 1% for every 1% decline of the least performing stock, paid in shares of cash at the issuer’s option
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| Call: | Automatically at par plus coupon if each stock closes at or above 90% of initial level on any quarterly call observation date
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| Initial levels: | $12.76 for Ford, $50.51 for Lyft, $40.35 for Uber
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| Coupon barrier levels: | $7.66 for Ford, $30.31 for Lyft, $24.21 for Uber; 60% of initial levels
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| Downside thresholds: | $7.66 for Ford, $30.31 for Lyft, $24.21 for Uber; 60% of initial levels
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| Share delivery per note: | 78.3699 for Ford, 19.7981 for Lyft, 24.7831 for Uber
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| Pricing date: | Sept. 9
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| Settlement date: | Sept. 14
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 4%
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| Cusip: | 90279DGL4
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