By Kiku Steinfeld
Chicago, May 22 – UBS AG, London Branch priced $380,000 of trigger phoenix autocallable optimization securities due July 23, 2024 linked to the common stock of Exxon Mobil Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If Exxon Mobil stock closes at or above the trigger price – 69.5% of the initial share price – on a bimonthly observation date, the issuer will pay a contingent coupon for the corresponding two months at the rate of 10%. Otherwise, no coupon will be paid for those two months.
If the shares close at or above the initial price on any bimonthly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Exxon Mobil shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Exxon Mobil Corp. (NYSE: XOM)
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| Amount: | $380,000
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| Maturity: | July 23, 2024
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| Coupon: | 10%, payable bimonthly if stock closes at or above trigger price on observation date for the corresponding two month period
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| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon if Exxon Mobil shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | Automatically at par plus contingent coupon if Exxon Mobil shares close at or above initial price on a bimonthly observation date
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| Initial share price: | $110.61
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| Trigger price: | $76.87, 69.5% of initial price
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| Pricing date: | Jan. 18, 2023
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| Settlement date: | Jan. 20, 2023
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| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.5%
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| Cusip: | 90286F169
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