New Issue: UBS prices $3.27 million trigger phoenix autocallables linked to Euro Stoxx, Hang Seng

By Angela McDaniels

Tacoma, Wash., Jan. 14 - UBS AG, London Branch priced $3.27 million of trigger phoenix autocallable optimization securities due Jan. 17, 2024 linked to the Euro Stoxx 50 index and the Hang Seng China Enterprises index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 7.9% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.

Beginning one year after issuance, the notes will be automatically called at par of $10 plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date.

If the notes are not called and each index finishes at or above its trigger level, 50% of its initial level, the payout at maturity will be par plus the contingent coupon, if any. If either index finishes below its trigger level, investors will be fully exposed to the decline of the least-performing index.

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

Issuer:	UBS AG, London Branch
Issue:	Trigger phoenix autocallable optimization securities
Underlying indexes:	Euro Stoxx 50 and Hang Seng China Enterprises
Amount:	$3,276,000
Maturity:	Jan. 17, 2024
Coupon:	7.9% per year, payable quarterly if each index closes at or above coupon barrier on observation date for that quarter
Price:	Par
Payout at maturity:	If each index finishes at or above trigger level, par plus contingent coupon if any; otherwise, full exposure to decline of least-performing index
Call:	Beginning after one year, notes will be automatically called at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
Initial index levels:	3,104.15 for Euro Stoxx 50 and 10,164.68 for Hang Seng
Coupon barriers:	2,172.91 for Euro Stoxx 50 and 7,115.28 for Hang Seng, 70% of initial levels
Trigger levels:	1,552.08 for Euro Stoxx 50 and 5,082.34 for Hang Seng, 50% of initial levels
Pricing date:	Jan. 10
Settlement date:	Jan. 15
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	3.5%
Cusip:	90271T166

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