By William Gullotti
Buffalo, N.Y., Dec. 19 – UBS AG, London Branch priced $4.83 million of trigger autocallable contingent yield notes due Dec. 18, 2025 linked to the least performing of the Financial Select Sector SPDR Fund and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 11.15% per year if each ETF closes at or above its coupon barrier, 65% of its initial level, on the related observation date.
The notes will be automatically called at par plus coupon if the shares of each ETF close at or above its initial share price on any quarterly call observation date after six months.
If the notes are not called and the final share price of each ETF is greater than or equal to the downside threshold level, 65% of the initial share price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will receive a number of shares per note of the worst performer equal to $1,000 divided by that ETF’s initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying ETFs: | SPDR S&P Regional Banking ETF, Financial Select Sector SPDR Fund
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| Amount: | $4,825,000
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| Maturity: | Dec. 18, 2025
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| Coupon: | 11.15% per year, paid quarterly, if each ETF closes at or above its coupon barrier on any related observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any ETF finishes below downside threshold level, in which case receive a number of shares of the worst performer equal to that ETF’s equity ratio
|
| Call: | Automatically at par plus coupon if each ETF closes at or above initial level on any quarterly call observation date after six months
|
| Initial levels: | $37.57 for Financial Sector, $53.82 for Regional Banking
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| Coupon barrier levels: | $24.42 for Financial Sector, $34.98 for Regional Banking; 65% of initial levels
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| Downside thresholds: | $24.42 for Financial Sector, $34.98 for Regional Banking; 65% of initial levels
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| Equity ratios: | 26.617 for Financial Sector, 18.5805 for Regional Banking; share delivery per note
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| Strike date: | Dec. 14
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| Pricing date: | Dec. 15
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| Settlement date: | Dec. 20
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1.75%
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| Cusip: | 90279WWT7
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