By Wendy Van Sickle
Columbus, Ohio, March 29 – UBS AG, London Branch priced $4.56 million of trigger autocallable contingent yield notes due March 23, 2023 linked to an equally weighted basket of the common stocks of American Airlines Group Inc., Southwest Airlines 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 an annualized rate of 12.75% if the basket closes at or above its 55% coupon barrier on the related quarterly observation date.
The notes will be called at par of $10 plus accrued interest if the basket closes at or above the initial basket level 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 basket is less than the 55% downside threshold, in which case investors will be fully exposed to the basket level decline.
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
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| Underlying stocks: | American Airlines Group Inc., Southwest Airlines Co., United Airlines Holdings, Inc., equally weighted
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| Amount: | $4.56 million
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| Maturity: | March 23, 2023
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| Coupon: | 12.75% annualized, payable each quarter that basket closes at or above coupon barrier on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par unless final basket level is less than downside threshold, in which case full exposure to losses
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| Call: | Automatically at par plus accrued interest if basket closes at or above initial share price on any quarterly observation date after six months
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| Initial share price: | $24.70 for American, $60.94 for Southwest, $60.82 for United
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| Coupon barrier: | 55% of initial level
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| Downside threshold: | 55% of initial level
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 2.35%
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| Cusip: | 90276BUV3
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