By Kiku Steinfeld
Chicago, May 22 – UBS AG, London Branch priced $932,000 of trigger autocallable contingent yield notes with memory interest due Jan. 16, 2026 linked to the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 10.25% per year if the shares close at or above the coupon barrier, 60% of the initial share price, on the relevant observation date, in which case investors will also receive any previously unpaid coupons.
The notes will be automatically called at par plus the coupon and any previously unpaid coupon if the shares close at or above the initial share price, on any quarterly observation date after six months.
If the fund finishes above the downside threshold level, 60% of the initial share price, the payout at maturity will be par the plus the coupon and any unpaid coupons. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes with memory interest
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| Underlying fund: | VanEck Gold Miners ETF
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| Amount: | $932,000
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| Maturity: | Jan. 16, 2026
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| Contingent coupon: | 10.25% annual rate, payable quarterly if fund closes at or above coupon barrier level on related observation date; coupon payment events will include previously unpaid coupons, if any
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| Price: | Par
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| Payout at maturity: | If fund finishes at or above downside threshold, par plus coupon and any unpaid coupons; otherwise, full exposure to decline of fund from initial price
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| Call: | Automatically at par plus coupon and any previously unpaid coupon if fund closes at or above initial level on any quarterly observation date after six months
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| Initial price: | $32.65
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| Coupon barrier: | $19.59; 60% of initial price
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| Downside threshold: | $19.59; 60% of initial price
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| Pricing date: | Jan. 13, 2023
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| Settlement date: | Jan. 19, 2023
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 2.5%
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| Cusip: | 90279FP70
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