Published on 7/5/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $25,000 phoenix autocallable notes with memory interest on Disney
Chicago, July 5 – UBS AG, London Branch priced $25,000 phoenix autocallable notes with memory interest due July 26, 2023 linked to Walt Disney Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the interest barrier level, 58.91% of the initial level, on a quarterly observation date, the notes will pay a contingent coupon for that quarter at an annual 12% rate, plus any previously unpaid contingent interest payments.
The notes will be called at par plus 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 if the stock finishes below the 58.91% trigger level, in which case investors will be fully exposed to the losses of the stock.
UBS Investment Bank is the agent. J.P. Morgan Securities LLC is the placement agent.
| Issuer: | UBS AG, London Branch
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| Issue: | Phoenix autocallable notes with memory interest
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| Underlying stock: | Walt Disney Co.
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| Amount: | $25,000
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| Maturity: | July 26, 2023
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| Coupon: | 12% annual rate paid quarterly, plus any previously unpaid coupons, if stock closes at or above interest 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 losses of stock
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| Call: | At par plus coupon if stock closes at or above initial level on a quarterly observation date
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| Initial price: | $95.86
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| Interest barrier level: | $56.47, 58.91% of initial price
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| Trigger level: | $56.47, 58.91% of initial price
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| Pricing date: | July 8, 2022
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| Settlement date: | July 13, 2022
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| Agent: | UBS Investment Bank
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| Placement agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 90279FLU3
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