By Kiku Steinfeld
Chicago, Dec. 12 – UBS AG, London Branch priced $173,000 of trigger callable contingent yield notes due April 17, 2024 linked to the performance of the KraneShares Global Carbon Strategy ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 14% if the fund’s closing level is at least 70% of its initial level on the corresponding observation date.
The notes will be callable at par on any quarterly observation date.
If the notes are not called and the fund finishes at or above the 70% coupon barrier, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% that the fund’s final level is below its initial level, payable in 21.1015 shares or cash at option of the issuer.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying fund: | KraneShares Global Carbon Strategy ETF
|
| Amount: | $173,000
|
| Maturity: | April 17, 2024
|
| Coupon: | 14% per year, payable quarterly if the fund closes at or above its coupon barrier on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon if fund finishes at or above coupon barrier; otherwise, full exposure to losses, payable in 21.1015 shares or cash at option of the issuer
|
| Call option: | At par on any quarterly observation date
|
| Initial level: | $47.39
|
| Coupon barrier level: | $33.17; 70% of initial level
|
| Trigger level: | $33.17; 70% of initial level
|
| Pricing date: | April 12, 2022
|
| Settlement date: | April 18, 2022
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.75%
|
| Cusip: | 90279D5L6
|
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