Chicago, Dec. 2 – UBS AG, London Branch priced $1.34 million phoenix autocallable buffer notes with memory interest due April 5, 2023 linked to Bank of America 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 11.93%, 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 quarterly observation date other than the final date.
The payout at maturity will be par unless the stock finishes below the 75% buffer level, in which case investors will lose 1.3333% for every 1% that the stock declines beyond 25%.
UBS Investment Bank is the underwriter. J.P. Morgan Securities LLC is the agent.
| Issuer: | UBS AG, London Branch
|
| Issue: | Phoenix autocallable buffer notes with memory interest
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| Underlying stock: | Bank of America Corp.
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| Amount: | $1,335,000
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| Maturity: | April 5, 2023
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| Coupon: | 11.93% 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
|
| Payout at maturity: | Par if stock finishes at or above buffer level; otherwise, 1.3333% loss for every 1% that stock declines beyond 25%
|
| Call: | At par if stock closes at or above initial level on a quarterly observation date
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| Initial price: | $42.90
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| Coupon barrier/buffer level: | $32.18, 75% of initial price
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Underwriter: | UBS Investment Bank
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| Placement agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
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| Cusip: | 90279D2D7
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