New Issue: UBS prices $950,000 trigger autocallable contingent yield notes with memory on ETFs

By Kiku Steinfeld

Chicago, April 10 – UBS AG, London Branch priced $950,000 of trigger autocallable contingent yield notes with memory interest due Dec. 21, 2023 linked to the least performing of the iShares Russell 2000 ETF, the Invesco QQQ Trust, Series 1 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 monthly coupon at the rate of 12.1% per year if each ETF closes at or above its coupon barrier, 65% of its initial level, on the related observation date. Contingent coupon payments will include any previously unpaid coupons.

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.

If the notes are not called and the final share price of each ETF is greater than or equal to its downside threshold level, 65% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% loss of the least performing ETF.

UBS Securities LLC and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes with memory interest
Underlying ETFs:	iShares Russell 2000 ETF, Invesco QQQ Trust, Series 1, SPDR S&P 500 ETF trust
Amount:	$950,000
Maturity:	Dec. 21, 2023
Coupon:	12.1% per year, paid monthly plus any previously unpaid coupons, if each ETF closes at or above its coupon barrier on any related observation date
Price:	Par
Payout at maturity:	Par if each ETF finishes at or above downside threshold; otherwise, 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
Initial levels:	$174.37 for Russell, $274.25 for QQQ, $383.27 for SPDR
Coupon barrier levels:	$113.34 for Russell, $178.26 for QQQ, $249.13 for SPDR; 65% of initial levels
Downside thresholds:	$113.34 for Russell, $178.26 for QQQ, $249.13 for SPDR; 65% of initial levels
Pricing date:	Dec. 16
Settlement date:	Dec. 21
Agents:	UBS Securities LLC and UBS Investment Bank
Fees:	0.2%
Cusip:	90279FH79

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