By William Gullotti
Buffalo, N.Y., March 30 – UBS AG, London Branch priced $1.96 million of trigger callable contingent yield notes due March 28, 2024 linked to the stock performance of FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.4% if the stock’s closing level is at least 70% of its initial level on the corresponding observation date.
The notes will be callable at par plus any coupon otherwise due on any quarterly observation date other than the final.
If the notes are not called and the stock finishes at or above its 70% trigger level, the payout at maturity will be par plus the final coupon. Otherwise, investors will receive a number of shares equal to $1,000 divided by the stock’s initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying stock: | FedEx Corp.
|
| Amount: | $1,964,000
|
| Maturity: | March 28, 2024
|
| Coupon: | 11.4% per year, payable quarterly if the stock closes at or above its coupon barrier level on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless the stock finishes below its trigger level, in which case investors will receive 4.4138 shares per note
|
| Call option: | At par plus any coupon otherwise due on any quarterly observation date other than the final
|
| Initial level: | $226.56
|
| Coupon barrier level: | $158.59; 70% of initial level
|
| Trigger level: | $158.59; 70% of initial level
|
| Pricing date: | March 25
|
| Settlement date: | March 30
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.75%
|
| Cusip: | 90279DT63
|
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