New Issue: UBS prices $1.6 million trigger contingent yield notes with memory on Nasdaq, Russell, S&P

By William Gullotti

Buffalo, N.Y., May 16 – UBS AG, London Branch priced $1.6 million of trigger contingent yield notes with memory interest due May 14, 2027 linked to the performance of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent monthly coupon at a rate of 8.1% per year if each index closes at or above its coupon barrier, 80% of its initial level, on the observation date for that period. Previously unpaid coupons, if any, will be automatically included whenever a contingent coupon is paid.

If each index finishes at or above its coupon barrier, the payout at maturity will be par plus all unpaid coupons.

If the worst performer finishes below its coupon barrier but finishes at or above its 70% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performer’s final level is below its initial level.

UBS Securities LLC and UBS Investment Bank are the underwriters.

Issuer:	UBS AG, London Branch
Issue:	Trigger contingent yield notes with memory interest
Underlying indexes:	Nasdaq-100 index, Russell 2000 index, S&P 500 index
Amount:	$1.6 million
Maturity:	May 14, 2027
Coupon:	8.1% per year, payable monthly if each index closes at or above its coupon barrier on observation date for that period; coupon payment events will automatically include any previously unpaid coupons
Price:	Par
Payout at maturity:	If each index finishes at or above coupon barrier, par plus all unpaid coupons; if the worst performer finishes below its coupon barrier but at or above its downside threshold, par; otherwise, 1% loss for every 1% that the worst performer declines from its initial level
Initial levels:	11,967.56 for Nasdaq, 1,718.144 for Russell, 3,935.18 for S&P
Coupon barriers:	9,574.05 for Nasdaq, 1,374.515 for Russell, 3,148.14 for S&P; 80% of initial levels
Downside thresholds:	8,377.29 for Nasdaq, 1,202.701 for Russell, 2,754.63 for S&P; 70% of initial levels
Pricing date:	May 11
Settlement date:	May 16
Underwriters:	UBS Securities LLC and UBS Investment Bank
Fees:	0.25%
Cusip:	90279FAC5

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