By Kiku Steinfeld
Chicago, May 26 – UBS AG, London Branch priced $900,000 of trigger callable contingent yield notes due July 24, 2025 linked to the stock performance of Signature Bank, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 15.5% if the stock’s closing level is at least 50% of its initial level on the corresponding observation date.
The notes will be callable at par plus any coupon otherwise due on any monthly observation date after one year.
If the notes are not called and the stock finishes at or above its 50% trigger level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be exposed to the decline of the stock.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger callable contingent yield notes
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| Underlying stock: | Signature Bank
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| Amount: | $900,000
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| Maturity: | July 24, 2025
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| Coupon: | 15.5% per year, payable monthly if the stock closes at or above its coupon barrier level on the relevant observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless the stock finishes below its trigger level, in which case investors will be exposed to the decline of the stock
|
| Call option: | At par plus any coupon otherwise due on any monthly observation date after one year
|
| Initial level: | $127.79
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| Coupon barrier level: | $63.90; 50% of initial level
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| Trigger level: | $63.90; 50% of initial level
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| Pricing date: | Jan. 20, 2023
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| Settlement date: | Jan. 25, 2023
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1%
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| Cusip: | 90279F2T7
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