Chicago, Sept. 27 – UBS AG, London Branch priced $559,000 phoenix autocallable notes with memory interest due Feb. 8, 2024 linked to Lyft, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the coupon barrier level, 65% of the initial level, on a quarterly observation date, the notes will pay a contingent coupon for that quarter at an annualized rate of 20.05%, plus any previously unpaid contingent coupon 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 unless the stock finishes below the 65% trigger level, in which case investors will be fully exposed to the stock decline.
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 notes with memory interest
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| Underlying stock: | Lyft, Inc.
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| Amount: | $559,000
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| Maturity: | Feb. 8, 2024
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| Coupon: | 20.05% annualized, plus any previously unpaid coupons, if stock closes at or above coupon barrier level on quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par if stock finishes at or above trigger level; otherwise, full exposure to loss
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| Call: | At par if stock closes at or above initial level on a quarterly observation date
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| Initial price: | $37.68
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| Coupon barrier/trigger level: | $24.49, 65% of initial price
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| Pricing date: | Feb. 4
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| Settlement date: | Feb. 9
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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: | 1.5%
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| Cusip: | 90279DXT8
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