Chicago, Feb. 27 – UBS AG, London Branch priced $295,000 of trigger callable contingent yield notes due May 15, 2024 linked to the stock performance of Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.4% if the stock’s closing level is at least 65% of its initial level on the corresponding observation date.
The notes will be callable at par plus any coupon otherwise due on any quarterly observation date after six months.
If the notes are not called and the stock finishes at or above its 65% trigger level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the stock’s decline from its initial level, payable as shares of Wells Fargo.
UBS Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger callable contingent yield notes
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Underlying stock: | Wells Fargo & Co.
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Amount: | $295,000
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Maturity: | May 15, 2024
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Coupon: | 11.4% per year, payable quarterly if the stock closes at or above its coupon barrier level on the relevant observation date
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Price: | Par
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Payout at maturity: | Par plus final coupon unless the stock finishes below its trigger level, in which case investors will be fully exposed to the stock’s decline from initial level, payable as 23.2126 shares of Wells Fargo
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Call option: | At par plus any coupon otherwise due on any quarterly observation date
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Initial level: | $43.08
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Coupon barrier level: | $28.00; 65% of initial level
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Trigger level: | $28.00; 65% of initial level
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Pricing date: | May 10, 2022
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Settlement date: | May 13, 2022
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 1.75%
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Cusip: | 90279FBZ3
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