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UBS plans to price contingent income autocallables linked to gold ETF
By Sarah Lizee
Olympia, Wash., Jan. 13 – UBS AG London Branch plans to price contingent income autocallable securities due Jan. 20, 2023 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8% per year if the ETF closes at or above its trigger level, 75% of its initial share price, on each day during that quarter.
The notes will be automatically called at par if the ETF closes at or above its initial share price on any quarterly determination date other than the final one.
The payout at maturity will be par unless the ETF finishes below its trigger level, 75% of its initial share price, in which case investors will lose 1% for every 1% that the ETF declines.
UBS Securities LLC is the agent. Morgan Stanley Wealth Management is the dealer.
The notes will price on Jan. 17.
The Cusip number is 90281G196.
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