New Issue: UBS prices $2 million 10.85% airbag yield notes on Bank of America

By Wendy Van Sickle

Columbus, Ohio, April 12 – UBS AG, London Branch priced $2 million of 10.85% annualized airbag yield notes due Jan. 13, 2023 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Bank of America shares equal to $1,000 divided by the conversion price. The conversion price is 90% of the initial share price.

UBS Financial Services Inc. and UBS Securities Inc. are the underwriters.

Issuer:	UBS AG, London Branch
Issue:	Airbag yield notes
Underlying stock:	Bank of America Corp.
Amount:	$2 million
Maturity:	Jan. 13, 2023
Coupon:	10.85% per year, payable monthly
Price:	Par of $1,000
Payout at maturity:	Par unless final share price is less than conversion price, in which case 28.2087 Bank of America shares
Initial share price:	$39.39
Conversion price:	$35.45, 90% of initial price
Pricing date:	April 8
Settlement date:	April 13
Underwriters:	UBS Financial Services Inc. and UBS Securities Inc.
Fees:	0.75%
Cusip:	9026MP361

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