By William Gullotti
Buffalo, N.Y., Oct. 27 – UBS AG, London Branch priced $1.8 million of trigger autocallable contingent yield notes with memory interest due April 24, 2025 linked to the least performing of the common stocks of Hershey Co. and Exxon Mobil Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 10% per year if each stock closes at or above its coupon barrier, 60% 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 stock close at or above its initial share price on any quarterly call observation date.
If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 60% of the initial share price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% that the final share price of the least performing stock is less than its initial share price.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes with memory interest
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| Underlying stocks: | Hershey Co., Exxon Mobil Corp.
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| Amount: | $1.8 million
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| Maturity: | April 24, 2025
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| Coupon: | 10% per year, paid quarterly, if each stock closes at or above its coupon barrier on any related observation date; coupon payment events will include previously unpaid coupons, if any
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any stock finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard stock from initial level
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call observation date
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| Initial levels: | $190.94 for Hershey, $111.08 for Exxon Mobil
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| Coupon barrier levels: | $114.56 for Hershey, $66.65 for Exxon Mobil; 60% of initial levels
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| Downside thresholds: | $114.56 for Hershey, $66.65 for Exxon Mobil; 60% of initial levels
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| Pricing date: | Oct. 20
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| Settlement date: | Oct. 25
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1.85%
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| Cusip: | 90279WMY7
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