By Angela McDaniels
Tacoma, Wash., Nov. 17 – UBS AG, London Branch priced $21.62 million of trigger autocallable contingent yield notes due Oct. 29, 2026 linked to Brent crude oil, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 14.6% per year if Brent crude oil closes at or above the downside threshold level, 60% of the initial price, on the observation date for that quarter.
After six months, the notes will be automatically called at par of $10 if Brent crude oil closes at or above the initial price on any quarterly observation date.
If the notes are not called and the final price is greater than or equal to the downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final price is less than the initial price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying commodity: | Brent crude oil
|
| Amount: | $21,616,000
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| Maturity: | Oct. 29, 2026
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| Coupon: | 14.6% per year, payable quarterly if Brent crude oil closes at or above downside threshold level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and final price is greater than or equal to downside threshold level, par; otherwise, 1% loss for every 1% that final price is less than initial price
|
| Call: | After six months, automatically at par if Brent crude oil close at or above initial price on any quarterly observation date
|
| Initial price: | $87.93
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| Downside threshold: | $52.76, or 60% of initial share price
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90301Q166
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