By Wendy Van Sickle
Columbus, Ohio, Feb. 17 – UBS AG, London Branch priced $1.81 million of trigger autocallable contingent yield notes due Feb. 7, 2024 linked to the shares of Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
A contingent interest payment based on an annual rate of 7.5% will be paid monthly if the fund closes above its 70% downside threshold level on the related determination date.
The notes will be called at par plus accrued interest if the shares close at or above the initial share price on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par unless the final price of the fund is less than 70% of the initial share price, in which case investors will receive par plus the return.
UBS Securities LLC and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying fund: | Financial Select Sector SPDR fund
|
| Amount: | $1,806,000
|
| Maturity: | Feb. 7, 2024
|
| Coupon: | 7.5% annual rate, payable monthly if fund closes above downside threshold level on related determination date
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than downside threshold level, in which case par plus the return
|
| Call: | Automatically at par plus accrued interest if shares close at or above initial share price on any quarterly observation date after six months
|
| Initial share price: | $30.04
|
| Downside threshold level: | $21.03, 70% of initial price
|
| Pricing date: | Feb. 3
|
| Settlement date: | Feb. 5
|
| Underwriters: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 0.25%
|
| Cusip: | 90276BQD8
|
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