Published on 9/29/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $1.27 million trigger autocallable contingent yield notes on three stocks
By Kiku Steinfeld
Chicago, Sept. 29 – UBS AG, London Branch priced $1.27 million of trigger autocallable contingent yield notes due Feb. 5, 2024 linked to the least performing of the common stocks of American Express Co., Walt Disney Co. and ConocoPhillips, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 16% per year if each stock closes at or above its coupon barrier, 70% of its initial level, on the corresponding observation date.
The notes will be automatically called at par plus coupon if the shares of each stock closes 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, 70% of the initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing stock is less than its initial level, payable in shares or in cash at the option of the issuer.
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: | American Express Co., Walt Disney Co. and ConocoPhillips
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| Amount: | $1.27 million
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| Maturity: | Feb. 5, 2024
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| Coupon: | 16% per year, paid quarterly, if each stock closes at or above its coupon barrier on the related observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any stock finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard stock from initial level, payable in shares or in cash at the option of the issuer
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call observation date after six months
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| Initial levels: | $179.82 for Amex, $88.62 for Conoco, $142.97 for Disney
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| Coupon barrier levels: | $125.87 for Amex, $62.03 for Conoco, $100.08 for Disney; 70% of initial levels
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| Downside thresholds: | $125.87 for Amex, $62.03 for Conoco, $100.08 for Disney; 70% of initial levels
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| Equity ratios: | 5.5611 for Amex, 11.2841 for Conoco, 6.9945 for Disney
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 3
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1.75%
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| Cusip: | 90279DB54
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