Published on 4/19/2022 in the Prospect News Structured Products Daily.
New Issue: UBS sells $3.1 million 24.5% trigger autocallable yield notes with knock-in monitoring
By William Gullotti
Buffalo, N.Y., April 19 – UBS AG, London Branch priced $3.1 million of trigger autocallable yield notes with daily close monitoring knock-in due April 18, 2023 linked to the stock performance of Snap Inc. and Snowflake Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid quarterly.
The notes will be automatically called at par plus a fixed coupon if each stock closes at or above its initial level on any quarterly valuation date after six months.
If the notes have not been called, the payout at maturity will be par unless any stock closes below its 50% knock-in level during the life of the notes and any stock finishes below its initial level, in which case investors will receive a number of shares of the worst performer equal to $1,000 divided by that stock’s initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable yield notes with daily close monitoring knock-in
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| Underlying stocks: | Snap Inc., Snowflake Inc.
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| Amount: | $3,085,000
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| Maturity: | April 18, 2023
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| Coupon: | 24.5% per annum, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below its knock-in level during the life of the notes and any stock finishes below its initial level, in which case investors will receive a number of shares of the worst performer equal to its equity ratio
|
| Call option: | Automatically par plus coupon if each stock closes at or above its initial level on any quarterly valuation date after six months
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| Initial levels: | $34.68 for Snap, $214.41 for Snowflake
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| Knock-in levels: | $17.34 for Snap, $107.21 for Snowflake; 50% of initial levels
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| Equity ratios: | 28.8351 for Snap, 4.664 for Snowflake; shares delivered per note
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| Strike date: | April 13
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| Pricing date: | April 14
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| Settlement date: | April 20
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.15956%
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| Cusip: | 90279D6A9
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