By William Gullotti
Buffalo, N.Y., Feb. 22 – UBS AG, London Branch priced $8.05 million of contingent income autocallable securities due Feb. 20, 2026 linked to the stock performance of American Express Co. and Discover Financial Services, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annual rate of 14.8% if each stock closes at or above its 70% coupon barrier on every trading day during the corresponding observation period.
The notes will be called at par of $10 plus any contingent coupon otherwise payable if each stock closes at or above its initial share price on any quarterly determination date after six months.
If the final share price of each stock is greater than or equal to the downside threshold level, 60% of initial level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial share price.
UBS Securities LLC is the agent and Morgan Stanley Wealth Management is the dealer.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
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| Underlying stocks: | American Express Co., Discover Financial Services
|
| Amount: | $8,045,000
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| Maturity: | Feb. 20, 2026
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| Coupon: | 14.8% per year, payable quarterly if each stock closes at or above coupon barrier level on each trading day during the corresponding observation period
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless the worst performing stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline of that stock from its initial share price
|
| Call: | At par plus any contingent coupon otherwise due if each stock closes at or above its initial share price on any quarterly determination date after six months
|
| Initial share prices: | $180.67 for AmEx, $115.25 for Discover
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| Coupon barriers: | $126.47 for AmEx, $80.68 for Discover; 70% of initial share prices
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| Downside thresholds: | $108.40 for AmEx, $69.15 for Discover; 60% of initial share prices
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| Pricing date: | Feb. 15
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| Settlement date: | Feb. 21
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| Agent: | UBS Securities LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
|
| Cusip: | 90289W532
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