New Issue: UBS prices $21.71 million trigger autocallable contingent yield notes on two ETFs

By Wendy Van Sickle

Columbus, Ohio, April 19 – UBS AG, London Branch priced $21.71 million of trigger autocallable contingent yield notes due April 17, 2025 linked to the least performing of the Invesco QQQ trust, series 1 and the iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at the rate of 8.26% per year if each ETF closes at or above its coupon barrier, 70% of its initial level, on the related observation date.

The notes will be automatically called at par plus coupon if the shares of each ETF close at or above its initial share price on any quarterly call observation date after six months.

If the notes are not called and the final share price of each ETF is greater than or equal to the downside threshold level, 70% of the initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing ETF is less than its initial share price.

UBS Investment Bank and UBS Financial Services Inc. are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes
Underlying ETFs:	Invesco QQQ trust, series 1, iShares Russell 2000 Value ETF
Amount:	$21,710,600
Maturity:	April 17, 2025
Coupon:	8.26% per year, paid quarterly, if each ETF closes at or above its coupon barrier on any related observation date
Price:	Par of $10
Payout at maturity:	Par plus final coupon unless any ETF finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard ETF from initial level
Call:	Automatically at par plus coupon if each ETF closes at or above initial level on any quarterly call observation date after six months
Initial levels:	$338.43 for QQQ, $157.94 for Russell 2000 Value
Coupon barrier levels:	$236.90 for QQQ, $110.56 for Russell 2000 Value; 70% of initial levels
Downside thresholds:	$236.90 for QQQ, $110.56 for Russell 2000 Value; 70% of initial levels
Pricing date:	April 14
Settlement date:	April 20
Agents:	UBS Investment Bank and UBS Financial Services Inc.
Fees:	2%
Cusip:	9026MP379

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