UBS to price contingent income autocalls on NIKE, Walmart

By Sarah Lizee

Olympia, Wash., July 20 – UBS AG, London Branch plans to price contingent income autocallable securities due July 27, 2023 linked to the common stocks of NIKE, Inc. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 10.25% per year if each stock closes at or above the coupon barrier, 70% of the initial share price, on the observation date for that quarter.

The notes will be automatically called at par of $10 if the stocks close at or above their initial share prices on any quarterly observation except the final one.

The payout at maturity will be par unless either stock finishes below its 70% downside threshold level, in which case investors will receive a number of shares of the lesser performing stock equal to $1,000 divided by the initial share price, payable in cash.

UBS Securities LLC is the underwriter. Morgan Stanley Wealth Management is the dealer.

The notes will price on July 24.

The Cusip number is 90281K635.

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