New Issue: UBS prices $1.72 million trigger autocallable contingent yield notes on Citigroup, PNC

By Wendy Van Sickle

Columbus, Ohio, April 2 – UBS AG, London Branch priced $1.72 million of trigger autocallable contingent yield notes due March 31, 2021 linked to the common stocks of Citigroup Inc. and PNC Financial Services Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 8.8% per year if the shares of each stock close at or above the coupon barrier level, 67.5% of the initial share price, on the observation date for that quarter.

After six months, the notes will be automatically called at par of $10 if the shares of each stock close at or above the initial share price on any observation date other than the final one.

If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 67.5% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price of the lesser performing stock is less than the initial share price.

UBS Financial Services Inc. and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes
Underlying stock:	PNC Financial Services Group, Inc. and Citigroup Inc.
Amount:	$846,000
Maturity:	March 31, 2021
Contingent coupon:	8.8%, payable quarterly if each stock closes at or above coupon barrier level on observation date for that quarter
Price:	Par of $10
Payout at maturity:	Par unless either stock finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard stock from initial level
Call:	After six months, automatically at par if each stock closes at or above initial level on any quarterly observation date other than the final one
Initial price:	$153.01 for PNC, $69.78 for Citigroup
Coupon barrier:	$103.28 for PNC, $47.10 for Citigroup, 67.5% of initial price
Downside threshold:	$103.28 for PNC, $47.10 for Citigroup, 67.5% of initial price
Pricing date:	March 23
Settlement date:	March 28
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2.5%
Cusip:	90270KQP7

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