By Marisa Wong
Los Angeles, March 8 – UBS AG, London Branch priced $23.27 million of trigger autocallable contingent yield notes due March 8, 2024 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 8% if the stock closes at or above its 63.55% coupon barrier on the related quarterly observation date.
The notes will be called at par plus accrued interest if the shares close at or above the initial share price on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par unless the final price of the stock is less than the 63.55% downside threshold, in which case investors will be fully exposed to the share price decline.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stock: | Apple Inc. (Symbol: AAPL)
|
| Amount: | $23,267,400
|
| Maturity: | March 8, 2024
|
| Coupon: | 8% annualized, payable each quarter that stock closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than downside threshold, in which case full exposure to losses
|
| Call: | Automatically at par plus accrued interest if shares close at or above initial share price on any quarterly observation date after six months
|
| Initial share price: | $121.42
|
| Coupon barrier: | $77.16, 63.55% of initial price
|
| Downside threshold: | $77.16, 63.55% of initial price
|
| Pricing date: | March 5
|
| Settlement date: | March 10
|
| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90278X624
|
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