New Issue: UBS prices $2.13 million trigger autocallable contingent yield notes on stocks

By Wendy Van Sickle

Columbus, Ohio, April 7 – UBS AG, London Branch priced $2.13 million of trigger autocallable contingent yield notes due March 30, 2023 tied to the common stocks of Lowe’s Cos., Inc., Microsoft Corp. and FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 13.25% per year if the shares of each stock close at or above the coupon barrier level, 60% of the initial share price, on the observation date for that quarter.

After six months, the notes will be automatically called at par 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, 60% 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 least performing stock is less than the initial share price.

UBS Securities LLC and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes
Underlying stocks:	Lowe’s Cos., Inc., Microsoft Corp. and FedEx Corp.
Amount:	$2.13 million
Maturity:	March 30, 2023
Contingent coupon:	13.25%, payable quarterly if each stock closes at or above coupon barrier level on observation date for that quarter
Price:	Par
Payout at maturity:	Par unless any 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:	$88.11 for Lowe’s, $125.60 for FedEx, $156.11 for Microsoft
Coupon barrier:	$52.87 for Lowe’s, $75.36 for FedEx, $93.67 for Microsoft; 60% of initial levels
Downside threshold:	$52.87 for Lowe’s, $75.36 for FedEx, $93.67 for Microsoft; 60% of initial levels
Pricing date:	March 26
Settlement date:	March 31
Agents:	UBS Securities LLC and UBS Investment Bank
Fees:	3.5%
Cusip:	90270KM57

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