By Kiku Steinfeld
Chicago, Dec. 12 – UBS AG, London Branch priced $500,000 of trigger autocallable yield notes due April 17, 2025 linked to the stock performance of Discover Financial Services, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at the annual rate of 7.4%.
The notes will be automatically called at par if the stock closes at or above the initial share price on any quarterly call observation date after six months.
If the notes are not called and the final share price of the stock is greater than or equal to the downside threshold level, 60% of the initial share price, the payout at maturity will be par. Otherwise, investors receive a number of shares equal to $10,000 divided by 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 yield notes
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| Underlying stock: | Discover Financial Services
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| Amount: | $500,000
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| Maturity: | April 17, 2025
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| Contingent coupon: | 7.4%, paid monthly
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| Price: | Par of $10,000
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| Payout at maturity: | Par unless the stock finishes below downside threshold level, in which case receive 89.4214 shares per note
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| Call: | Automatically at par if the stock closes at or above initial level on any quarterly call observation date after six months
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| Initial level: | $111.83
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| Downside threshold: | $67.10; 60% of initial level
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| Pricing date: | April 12, 2022
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| Settlement date: | April 18, 2022
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 2%
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| Cusip: | 90279D5H5
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