Chicago, May 1 – UBS AG, London Branch priced $385,000 phoenix autocallable notes with memory coupon due June 28, 2023 linked to Visa Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the trigger level, 80% of the initial level, on any quarterly observation date, the notes will pay a contingent coupon at an annual rate of 15.71%. Previously unpaid contingent coupons, if any, will be paid whenever a contingent coupon is paid.
The notes will be called at par plus the coupon if the shares close at or above the initial share price on any quarterly observation date other than the final date.
The payout at maturity will be par plus the final coupon and any previously unpaid coupons if the stock finishes above at or above the 80% trigger level. Otherwise, investors will be fully exposed to the decline of the stock from its initial share price.
UBS Investment Bank and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Phoenix autocallable notes with memory coupon
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| Underlying stock: | Visa Inc.
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| Amount: | $385,000
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| Maturity: | June 28, 2023
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| Coupon: | 15.71% per year, if stock closes at or above trigger level on quarterly observation date; coupon payment events will include any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above trigger level, par plus final coupon and any previously unpaid coupons; otherwise, lose 1% for every 1% decline in share price from initial price
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| Call: | At par plus coupon and any unpaid coupons if stock closes at or above initial level on any quarterly observation date
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| Initial price: | $199.51
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| Interest barrier level: | $159.61; 80% of initial price
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| Trigger level: | $159.61; 80% of initial price
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| Pricing date: | June 10, 2022
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| Settlement date: | June 15, 2022
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| Placement agents: | UBS Investment Bank and J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 90279FGT2
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