New Issue: UBS prices $500,000 trigger yield notes tied to Cleveland-Cliffs, U.S. Steel

Chicago, May 1 – UBS AG, London Branch priced $500,000 of 16.25% trigger yield notes due Dec. 30, 2022 linked to the performance of the common stocks of Cleveland-Cliffs Inc. and U.S. Steel Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the final level of any underlier is less than 50% of the initial level, in which case investors will be fully exposed the decline of the worst performer from its initial level, payable as shares.

UBS Securities LLC and UBS Investment Bank are the underwriters.

Issuer:	UBS AG, London Branch
Issue:	Trigger yield notes
Underlying stocks:	Cleveland-Cliffs Inc. and U.S. Steel Corp.
Amount:	$500,000
Maturity:	Dec. 30, 2022
Coupon:	16.25% annual rate, payable monthly
Price:	Par
Payout at maturity:	Par unless any underlier finishes below trigger level, in which case investors will be fully exposed to the decline of the worst performer from its initial level, payable as shares
Initial levels:	$23.45 for Cleveland, $25.00 for U.S. Steel
Trigger levels:	$11.73 for Cleveland, $12.50 for U.S. Steel; 50% of initial levels
Share delivery amounts:	42.6439 for Cleveland, 40 for U.S. Steel
Strike date:	June 1, 2022
Pricing date:	June 2, 2022
Settlement date:	June 7, 2022
Underwriters:	UBS Securities LLC and UBS Investment Bank
Fees:	0.2%
Cusip:	90279FGG0

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