By Wendy Van Sickle
Columbus, Ohio, Dec. 4 – UBS AG, London Branch priced $10 million phoenix autocallable buffer notes with memory coupon due Dec. 7, 2021 linked to JD.com, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the trigger level, 80% of the initial level, on a monthly observation date, the notes will pay a contingent coupon for that month at an annualized rate of 15.25%, plus any previously unpaid contingent interest payments.
The notes will be called at par if the shares close at or above the initial share price on any observation date other than the final date.
The payout at maturity will be par plus the final coupon and any previously unpaid coupons unless the stock finishes below the trigger level, in which case investors will lose 1.25% for every 1% loss of the stock beyond 20%.
UBS Investment Bank is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Phoenix autocallable buffer notes with memory coupon
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| Underlying stock: | JD.com, Inc.
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| Amount: | $10 million
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| Maturity: | Dec. 7, 2021
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| Coupon: | 15.25% annualized, plus any previously unpaid coupons, if stock closes at or above trigger level on monthly observation date
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon and previously unpaid coupons if stock finishes at or above trigger level; otherwise, 1.25% loss for every 1% decline beyond 20%
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| Call: | At par plus contingent coupon and previously unpaid coupons if stock closes at or above initial level on a monthly observation date
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| Initial price: | $85.360
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| Trigger level: | $68.29, 80% of initial price
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| Pricing date: | Dec. 2
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| Settlement date: | Dec. 7
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| Underwriter: | UBS Investment Bank
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| Placement agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 90276BLR2
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