Published on 4/22/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $4.63 million trigger autocallable contingent yield notes on four stocks
By Wendy Van Sickle
Columbus, Ohio, April 22 – UBS AG, London Branch priced $4.63 million of trigger autocallable contingent yield notes due Feb. 27, 2025 linked to the least performing of the common stocks of Alphabet Inc., Amazon.com, Inc., Apple Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a coupon at the rate of 13.25% per year if each stock closes at or above its coupon barrier, 60% of its initial level, on any related observation date.
The notes will be automatically called at par if the shares of each stock close at or above its initial share price on any quarterly call observation date after six months.
If the notes are not called and the final share price of each 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 will lose 1% for every 1% that the final share price of the least performing stock is less than its 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
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| Underlying stocks: | Alphabet Inc., Amazon.com, Inc., Apple Inc., Netflix, Inc.
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| Amount: | $4,522,000
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| Maturity: | Feb. 27, 2025
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| Coupon: | 13.25% per year, paid quarterly, if each stock closes at or above its coupon barrier on any related observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard stock from initial level
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| Call: | Automatically at par if each stock closes at or above initial level on any quarterly call observation date after six months
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| Initial levels: | $2,551.70 for Alphabet, $2,896.54 for Amazon.com, $160.07 for Apple, $367.46 for Netflix
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| Coupon barrier levels: | $1,531.02 for Alphabet, $1,737.92 for Amazon.com, $96.04 for Apple, $220.48 for Netflix; 60% of initial levels
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| Downside thresholds: | $1,531.02 for Alphabet, $1,737.92 for Amazon.com, $96.04 for Apple, $220.48 for Netflix; 60% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3%
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| Cusip: | 90279DC87
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