Kiku Steinfeld
Chicago, May 5 – UBS AG, London Branch priced $2.6 million of trigger autocallable contingent yield notes with memory coupon due April 20, 2022 linked to the common stock of Uber Technologies, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 11% per year if the shares close at or above the coupon barrier, 70% of the initial share price, on the observation date for that quarter, in which case investors will also receive any previously unpaid coupons.
The notes will be automatically called at par of $10 if the shares close at or above the initial share price on any quarterly observation date other than the final one.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 70% 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 is less than the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes with memory coupon
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| Underlying stock: | Uber Technologies, Inc.
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| Amount: | $2.6 million
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| Maturity: | April 20, 2022
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| Contingent coupon: | 11%, payable quarterly if stock closes at or above coupon barrier level on related quarterly observation date, in which case investors will also receive any previously unpaid coupons
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| Price: | Par of $10
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| Payout at maturity: | Par unless stock finishes below downside threshold, in which case 1% loss for each 1% decline from initial price
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| Call: | Automatically at par if stock closes at or above initial price on any quarterly observation date other than final one
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| Initial price: | $59.23
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| Coupon barrier: | $41.46, 70% of initial price
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| Downside threshold: | $41.46, 70% of initial price
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| Pricing date: | April 15
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| Settlement date: | April 19
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 3%
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| Cusip: | 90276BYQ0
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