New Issue: UBS sells $4.22 million trigger autocallable contingent yield notes on ETFs

By Kiku Steinfeld

Chicago, Oct. 28 – UBS AG, London Branch priced $4.22 million of trigger autocallable contingent yield notes due Oct. 18, 2024 linked to the SPDR S&P 500 ETF trust, the iShares Russell 2000 ETF and the Invesco QQQ trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 7% if each ETF closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.

The notes will be redeemed at par plus the coupon if all ETFs close above their initial levels on any monthly observation date after six months.

The payout at maturity will be par plus the coupon unless any ETF finishes below its 60% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing ETF, payable in shares or, at the issuer’s option, the cash equivalent.

UBS Securities LLC and UBS Financial Services Inc. are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes
Underlying ETFs:	SPDR S&P 500 ETF trust, iShares Russell 2000 ETF, Invesco QQQ trust, series 1
Amount:	$4,223,000
Maturity:	Oct. 18, 2024
Coupon:	7%, payable monthly if each ETF closes at or above coupon barrier on observation date
Price:	Par
Call:	At par plus the coupon if all ETFs close above their initial levels on any monthly observation date after six months
Payout at maturity:	Par plus the coupon if each ETFs finish above 60% of initial level; otherwise, 1% loss for each 1% decline of the worst performing ETF, payable in shares or, at issuer’s option, cash
Initial levels:	$225.16 for Russell, $368.94 for QQQ, $445.87 for S&P
Coupon barriers:	$135.10 for Russell, $221.36 for QQQ, $267.52 for S&P, 60% of initial levels
Downside thresholds:	$135.10 for Russell, $221.36 for QQQ, $267.52 for S&P, 60% of initial levels
Equity ratios:	4.4413 for Russell, 2.7105 for QQQ, 2.2428 for S&P
Pricing date:	Oct. 15
Settlement date:	Oct. 20
Agents:	UBS Securities LLC and UBS Financial Services Inc.
Fees:	0.25%
Cusip:	90279DKH8

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