By Susanna Moon
Chicago, March 8 – UBS AG, London Branch priced $566,000 of trigger autocallable contingent yield notes due Feb. 19, 2021 linked to American Express Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if the stock closes at or above its 68% coupon barrier on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless the stock finishes below its 68% downside threshold, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | American Express Co. (Symbol: AXP)
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| Amount: | $566,000
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| Maturity: | Feb. 19, 2021
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| Coupon: | 7% annualized, payable quarterly if stock closes at or above 68% coupon barrier on review date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If stock finishes at or above 68% downside threshold, par; otherwise, 1% loss for each 1% decline
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| Call : | At par if stock closes at or above its initial level on any quarterly determination date after six months
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| Initial level: | $96.79
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| Downside threshold: | $65.82, 68% of initial level
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| Pricing date: | Feb. 16
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| Settlement date: | Feb. 22
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2%
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| Cusip: | 90280Y412
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