By Kiku Steinfeld
Chicago, April 26 – UBS AG, London Branch priced $4.8 million of trigger autocallable contingent yield notes due April 5, 2023 linked to an equally weighted basket of the Energy Select Sector SPDR fund and the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8.3% per year if the basket closes at or above the downside threshold level, 75% of the initial level, on the observation date for that quarter.
The notes will be automatically called at par if the basket closes at or above the initial level on any quarterly observation date
If the notes are not called and the final level is greater than or equal to the downside threshold level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying basket: | Energy Select Sector SPDR fund and Financial Select Sector SPRD fund
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| Amount: | $4.8 million
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| Maturity: | April 5, 2023
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| Contingent coupon: | 8.3%, payable quarterly if basket closes at or above downside threshold on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless basket finishes below downside threshold level, in which case full exposure to loss
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| Call: | At par if basket closes at or above initial level on any quarterly observation date
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| Initial level: | $49.06 for Energy fund, $34.05 for Financial fund
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| Threshold level: | 75% of initial basket level
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| Pricing date: | April 1
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| Settlement date: | April 6
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.5%
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| Cusip: | 90278Y150
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