New Issue: UBS sells $422,000 trigger autocallable contingent yield notes with memory on stocks

By Kiku Steinfeld

Chicago, July 18 – UBS AG, London Branch priced $422,000 of trigger autocallable contingent yield notes with memory interest due Feb. 20, 2025 linked to the least performing of the common stocks of Airbnb, Inc., Lyft, Inc. and Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at the rate of 30.05% per year if each stock closes at or above its coupon barrier, 50% of its initial level, on any related observation date. Previously unpaid coupons, if any, will be automatically included whenever a contingent payment is made.

The notes will be automatically called at par plus the coupon if the shares of each stock close at or above its initial share price on any quarterly call observation date after six months.

If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 50% of the initial share price, the payout at maturity will be par plus the final coupon and any previously unpaid coupons. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing stock is less than its initial share price.

UBS Securities LLC and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes with memory interest
Underlying stocks:	Airbnb, Inc., Lyft, Inc. and Ford Motor Co.
Amount:	$422,000
Maturity:	Feb. 20, 2025
Coupon:	30.05% per year, paid monthly, if each stock closes at or above its coupon barrier on any related observation date; coupon payment events will automatically include any previously unpaid coupons
Price:	Par
Payout at maturity:	Par plus final coupon and any unpaid coupons unless any stock finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard stock from initial level
Call:	Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call observation date after six months
Initial levels:	$120.87 for Airbnb, $12.97 for Ford, $10.76 for Lyft
Coupon barrier levels:	$60.44 for Airbnb, $6.49 for Ford, $5.38 for Lyft; 50% of initial levels
Downside threshold levels:	$60.44 for Airbnb, $6.49 for Ford, $5.38 for Lyft; 50% of initial levels
Pricing date:	Feb. 15, 2023
Settlement date:	Feb. 21, 2023
Agents:	UBS Securities LLC and UBS Investment Bank
Fees:	1.9%
Cusip:	90279F3T6

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