By William Gullotti
Buffalo, N.Y., April 25 – UBS AG, London Branch priced $1.1 million of trigger autocallable contingent yield notes with memory coupon due April 24, 2025 linked to the common stock of Block, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at the rate of 12% per year if the shares close at or above the coupon barrier, 60% of the initial share price, on the relevant observation date, in which case investors will also receive any previously unpaid coupons.
The notes will be automatically called at par plus the coupon if the shares close at or above call level, 80% of initial share price, on any monthly observation date after three months.
If the notes are not called and the final share price is greater than or equal to the coupon barrier, the payout at maturity will be par plus all unpaid coupons.
If the stock closes below its coupon barrier but at or above downside threshold level, 50% 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: | Block, Inc.
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| Amount: | $1.1 million
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| Maturity: | April 24, 2025
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| Contingent coupon: | 12%, payable monthly if stock closes at or above coupon barrier level on related monthly observation date; coupon payment events will include previously unpaid coupons, if any
|
| Price: | Par
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| Payout at maturity: | If the stock finishes at or above coupon barrier, par plus all unpaid coupons; if the stock finishes below coupon barrier but at or above downside threshold, par; otherwise, full exposure to share price decline from initial price
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| Call: | Automatically at par plus coupon if stock closes at or above call level on any monthly observation date after three months
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| Initial price: | $125.62
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| Call level: | $100.50; 80% of initial price
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| Coupon barrier: | $75.37; 60% of initial price
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| Downside threshold: | $62.81; 50% of initial price
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| Pricing date: | April 19
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| Settlement date: | April 22
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 3.5%
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| Cusip: | 90279D5E2
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