New Issue: UBS sells $2.16 million trigger autocallable contingent yield notes with memory on ETFs

By William Gullotti

Buffalo, N.Y., March 28 – UBS AG, London Branch priced $2.16 million of trigger autocallable contingent yield notes with memory interest due March 28, 2024 linked to the least performing of the SPDR S&P 500 ETF Trust, the Financial Select Sector SPDR Fund and Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at the rate of 12% per year if each ETF closes at or above its coupon barrier, 75% of its initial level, on any related observation date. Contingent coupon payments will include any previously unpaid coupons.

The notes will be automatically called at par plus the coupon if the shares of each ETF close at or above initial share price on any quarterly call observation date.

If the notes are not called and the final share price of each ETF is greater than or equal to the coupon barrier, the payout at maturity will be par plus all unpaid coupons.

If the worst performer finishes below the coupon barrier but at or above its downside threshold level, 60% of the initial share price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial share price.

UBS Securities LLC and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes with memory interest
Underlying ETFs:	SPDR S&P 500 ETF Trust, Financial Select Sector SPDR Fund, Technology Select Sector SPDR Fund
Amount:	$2,161,000
Maturity:	March 28, 2024
Coupon:	12% per year, paid monthly, if each ETF closes at or above its coupon barrier on any related observation date; coupon payment events will automatically include any previously unpaid coupons
Price:	Par
Payout at maturity:	Par plus final coupon and any previously unpaid coupons if each ETF finishes at or above coupon barrier; if the worst performer finishes below coupon barrier but at or above downside threshold, par; otherwise, 1% loss for every 1% decline of worst performer from initial level
Call:	Automatically at par plus coupon if each ETF closes at or above initial level on any quarterly call observation date
Initial levels:	$443.80 for S&P Trust, $38.71 for Financial, $154.30 for Technology
Coupon barrier levels:	$332.85 for S&P Trust, $29.03 for Financial, $115.73 for Technology; 75% of initial levels
Downside thresholds:	$266.28 for S&P Trust, $23.23 for Financial, $92.58 for Technology; 60% of initial levels
Pricing date:	March 23
Settlement date:	March 28
Agents:	UBS Securities LLC and UBS Investment Bank
Fees:	0.25%
Cusip:	90279D2Q8

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