New Issue: UBS sells $1.3 million trigger autocallable contingent yield notes on three stocks

By Wendy Van Sickle

Columbus, Ohio, Nov. 21 – UBS AG, London Branch priced $1.3 million of trigger autocallable contingent yield notes due Nov. 20, 2025 linked to the least performing of the stocks of AT&T Inc., Kroger Co. and United Airlines Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at the rate of 18.3% per year if each stock closes at or above its coupon barrier, 60% of its initial level, on any related observation date.

The notes will be automatically called at par plus the coupon if the shares of each stock close at or above their initial share prices on any quarterly call observation date after 12 months.

If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 60% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing stock is less than its initial share price.

UBS Securities LLC and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes
Underlying stocks:	AT&T Inc., Kroger Co. and United Airlines Holdings, Inc.
Amount:	$1.3 million
Maturity:	Nov. 20, 2025
Coupon:	18.3% per year, paid quarterly, if each stock closes at or above its coupon barrier on any related observation date
Price:	Par
Payout at maturity:	Par unless any stock finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard stock from initial level
Call:	Automatically at par if each stock closes at or above initial level on any quarterly call observation date starting after 12 months
Initial levels:	$15.88 for AT&T, $42.66 for Kroger, $39.28 for United
Coupon barrier levels:	$9.53 for AT&T, $23.60 for Kroger, $23.57 for United; 60% of initial levels
Downside threshold levels:	$9.53 for AT&T, $23.60 for Kroger, $23.57 for United; 60% of initial levels
Pricing date:	Nov. 16
Settlement date:	Nov. 21
Agents:	UBS Securities LLC and UBS Investment Bank
Fees:	0.4%
Cusip:	90279WRB2

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