New Issue: UBS prices $6.88 million contingent income autocalls on three funds

By Wendy Van Sickle

Columbus, Ohio, April 14 – UBS AG, London Branch priced $6.88 million of contingent income autocallable securities due April 13, 2027 linked to the least performing of the Financial Select Sector SPDR fund, Industrial 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 quarterly coupon at an annual rate of 10.7% if each fund closes at or above its 70% coupon barrier on the corresponding observation date.

The notes will be called at par of $10 plus the contingent coupon if all funds close at or above their respective initial share price on any quarterly determination date after six months.

If all funds finish at or above their respective downside threshold level, 65% of initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.

UBS Securities LLC is the agent and Morgan Stanley Wealth Management is the dealer.

Issuer:	UBS AG, London Branch
Issue:	Contingent income autocallable securities
Underlying funds:	Financial Select Sector SPDR fund, Industrial Select Sector SPDR fund, Technology Select Sector SPDR fund
Amount:	$6,884,000
Maturity:	April 13, 2027
Coupon:	10.7% per year, payable quarterly if all funds close at or above coupon barrier level on the relevant observation date
Price:	Par of $10
Payout at maturity:	Par unless the worst performing fund finishes below downside threshold level, in which case investors will be exposed to the worst performer’s decline from its initial share price
Call:	At par plus contingent coupon if all funds close at or above initial share price on any quarterly determination date after six months
Initial levels:	$37.89 for Financial Select, $99.60 for Industrial Select, $152.41 for Technology Select
Coupon barriers:	$26.52 for Financial Select, $69.72 for Industrial Select, $106.69 for Technology Select; 70% of initial share price
Downside thresholds:	$24.63 for Financial Select, $64.74 for Industrial Select, $99.07 for Technology Select; 65% of initial share price
Pricing date:	April 8
Settlement date:	April 13
Agent:	UBS Securities LLC
Dealer:	Morgan Stanley Wealth Management
Fees:	2%
Cusip:	9026MP270

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