Published on 12/13/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $220,000 phoenix autocallable notes with memory on Oracle
By Kiku Steinfeld
Chicago, Dec. 13 – UBS AG, London Branch priced $220,000 phoenix autocallable notes with memory interest due May 2, 2023 linked to Oracle Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the coupon barrier level, 75% of the initial level, on a quarterly observation date, the notes will pay a contingent coupon for that quarter at an annualized rate of 10.8%, 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 if the stock finishes above at or above the 75% trigger level; otherwise, investors will be fully exposed to the decline of the stock.
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: | Oracle Corp.
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| Amount: | $220,000
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| Maturity: | May 2, 2023
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| Coupon: | 10.8% 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, investors will be fully exposed to the decline of the stock
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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: | $79.45
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| Coupon barrier/trigger level: | $59.59, 75% of initial price
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| Pricing date: | April 14, 2022
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| Settlement date: | April 20, 2022
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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%
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| Cusip: | 90279D5R3
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