By William Gullotti
Buffalo, N.Y., Nov. 21 – UBS AG, London Branch priced $1.93 million of trigger autocallable contingent yield notes due Nov. 20, 2026 linked to the least performing of the Technology Select Sector SPDR Fund and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 8.1% per year if each ETF closes at or above its coupon barrier, 70% of its initial level, on the related observation date.
The notes will be automatically called at par plus coupon if the shares of each ETF close at or above its initial share price on any quarterly call observation date after six months.
If the notes are not called and the final share price of each ETF 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 of the least performing ETF 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 ETFs: | SPDR S&P 500 ETF Trust, Technology Select Sector SPDR Fund
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| Amount: | $1,926,750
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| Maturity: | Nov. 20, 2026
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| Coupon: | 8.1% per year, paid quarterly, if each ETF closes at or above its coupon barrier on any related observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus final coupon unless any ETF finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard ETF from initial level
|
| Call: | Automatically at par plus coupon if each ETF closes at or above initial level on any quarterly call observation date after six months
|
| Initial levels: | $182.80 for Technology, $450.79 for S&P ETF
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| Coupon barrier levels: | $127.96 for Technology, $315.55 for S&P ETF; 70% of initial levels
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| Downside thresholds: | $127.96 for Technology, $315.55 for S&P ETF; 70% of initial levels
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| Pricing date: | Nov. 17
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| Settlement date: | Nov. 22
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 2%
|
| Cusip: | 90301Q349
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