By Wendy Van Sickle
Columbus, Ohio, Jan. 14 – UBS AG, London Branch priced $3.2 million of contingent income autocallable securities due July 14, 2023 linked to the worst performing of the stocks of ViacomCBS Inc. and Fox Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9.5% if each stock closes at or above its coupon barrier, 60% of its initial level, on the determination date for that period.
The notes will be called at par plus the contingent coupon if each stock closes above its initial level on any quarterly redemption date.
The payout at maturity will be par unless any stock finishes below its 60% downside threshold, in which case investors will be fully exposed to any losses of the worst performing stock.
UBS Securities LLC is the agent. Morgan Stanley Smith Barney LLC is the distributor.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying stocks: | ViacomCBS Inc. and Fox Corp.
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| Amount: | $3,201,500
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| Maturity: | July 14, 2023
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| Coupon: | 9.5% per year, payable each quarter if each stock closes at or above coupon barrier on determination date for that period
|
| Price: | Par of $10
|
| Payout at maturity: | If final share price of least performing stock is greater than or equal to downside threshold level, par; otherwise, full exposure to decline of worst performer
|
| Call: | Par plus the contingent coupon if each stock closes above its initial level on any quarterly redemption date
|
| Initial share prices: | $41.06 for ViacomCBS, $29.70 for Fox
|
| Coupon barriers: | $24.64 for ViacomCBS, $17.82 for Fox; 60% of initial share prices
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| Downside thresholds: | $24.64 for ViacomCBS, $17.82 for Fox; 60% of initial share prices
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| Pricing date: | Jan. 11
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| Settlement date: | Jan. 14
|
| Agent: | UBS Securities LLC
|
| Distributor: | Morgan Stanley Smith Barney LLC
|
| Fees: | 2.5%
|
| Cusip: | 90278R726
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