UBS plans trigger phoenix autocallables on Euro Stoxx, Hang Seng China

By Marisa Wong

Madison, Wis., Jan. 2 - UBS AG, London Branch plans to price trigger phoenix autocallable optimization securities due Jan. 17, 2024 linked to the Euro Stoxx 50 index and the Hang Seng China Enterprises index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its coupon barrier, 70% of its initial level, on a quarterly observation date, the issuer will pay a contingent coupon at the rate of 7.6% to 8.1% per year. Otherwise, no coupon will be paid for that quarter.

The notes will be automatically called at par of $10 plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date after one year.

If the notes are not called and each index finishes at or above its trigger level, 50% of its initial level, the payout at maturity will be par plus the contingent coupon, if any. If either index finishes below the trigger level, investors will be exposed to the decline of the least-performing index.

UBS Financial Services Inc. and UBS Investment Bank are the underwriters.

The notes will price on Jan. 10 and settle on Jan. 15.

The Cusip number is 90271T166.

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