By William Gullotti
Buffalo, N.Y., May 6 – UBS AG, London Branch priced $2.98 million of trigger autocallable contingent yield notes due April 20, 2023 linked to the common stock of the Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at a rate of 11.83% per year if the stock closes at or above its coupon barrier level, 60% of its initial level, on the related quarter observation date.
The notes will be called at par plus any coupon due on any quarterly observation date if the stock closes above its initial level on the related observation date.
The payout at maturity will be par of $10 plus unless the stock finishes at or below the downside threshold level, 60% of the initial level, in which case investors will be fully exposed to the loss.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stock: | Ford Motor Co.
|
| Amount: | $2,980,000
|
| Maturity: | April 20, 2023
|
| Coupon: | 11.83% per year, payable quarterly if the stock closes at or above its coupon barrier on the related quarter observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus final coupon unless stock finishes below downside threshold, in which case full exposure to loss
|
| Call: | At par plus any coupon on any quarterly observation date if stock finishes above initial level on related observation date
|
| Initial stock level: | $12.23
|
| Coupon barrier level: | $7.34, 60% of initial level
|
| Downside threshold level: | $7.34, 60% of initial level
|
| Pricing date: | April 16
|
| Settlement date: | April 19
|
| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 90278Y234
|
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