Chicago, Dec. 9 – UBS AG, London Branch priced $505,000 of trigger autocallable contingent yield notes with memory interest due April 11, 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 monthly coupon at the rate of 9% per year if the stock closes at or above its coupon barrier, 75% of its initial level, on any related observation date. Previously unpaid coupons will also be paid.
The notes will be automatically called at par plus coupon if the shares of the stock close at or above initial share price, on any quarterly call observation date after six months.
If the notes are not called and the final share price 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 declines from its initial share price, payable in shares or cash at option of the issuer.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes with memory interest
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| Underlying stock: | Apple Inc.
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| Amount: | $505,000
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| Maturity: | April 11, 2024
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| Coupon: | 9% per year, paid monthly, if the stock closes at or above its coupon barrier on any related observation date; previously unpaid coupons will also be paid
|
| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless the stock finishes below downside threshold level, in which case 1% loss for each 1% decline from initial level, 5.7123 shares or cash at option of the issuer
|
| Call: | Automatically at par plus coupon if the stock closes at or above initial level on any quarterly call observation date after six months
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| Initial level: | $175.06
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| Coupon barrier level: | $131.30; 75% of initial level
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| Downside threshold: | $122.54; 70% of initial level
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| Strike date: | April 5
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| Pricing date: | April 6
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| Settlement date: | April 11
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90279DZ25
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