Published on 4/12/2022 in the Prospect News Structured Products Daily.
New Issue: UBS prices $2 million 10.55% airbag yield notes on General Electric
By Wendy Van Sickle
Columbus, Ohio, April 12 – UBS AG, London Branch priced $2 million of 10.55% annualized airbag yield notes due Jan. 13, 2023 linked to the common stock of General Electric Co., 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 General Electric 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
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Issue: | Airbag yield notes
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Underlying stock: | General Electric Co.
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Amount: | $2 million
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Maturity: | Jan. 13, 2023
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Coupon: | 10.55% per year, payable monthly
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Price: | Par of $1,000
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Payout at maturity: | Par unless final share price is less than conversion price, in which case 12.4208 General Electric shares
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Initial share price: | $89.46
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Conversion price: | $80.51, 90% of initial price
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Pricing date: | April 8
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Settlement date: | April 13
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Underwriters: | UBS Financial Services Inc. and UBS Securities Inc.
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Fees: | 0.75%
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Cusip: | 9026MP346
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