By Marisa Wong
Morgantown, W.Va., Dec. 21 – UBS AG, London Branch priced $158,000 of 0% airbag performance notes due Dec. 29, 2020 linked to the Technology Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.
If the fund’s return is positive, the payout at maturity will be par plus 116.45% of the return.
If the fund’s return is zero or negative and the final level is greater than the conversion level, 90% of the initial level, the payout will be par.
If the final level is less than the conversion level, investors will receive a number of fund shares equal to $1,000 divided by the conversion level.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Airbag performance securities
|
| Underlying fund: | Technology Select Sector SPDR fund
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| Amount: | $158,000
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| Maturity: | Dec. 29, 2020
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If fund’s return is positive, par plus 116.45% of fund return; if fund’s return is zero or negative and greater than or equal to negative 10%, par; if final level is less than 90% of initial level, 26.0824 shares
|
| Initial price: | $42.60
|
| Conversion price: | $38.34, 90% of initial price
|
| Pricing date: | Dec. 21
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| Settlement date: | Dec. 24
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 3.5%
|
| Cusip: | 90275M399
|
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