Chicago, Oct. 25 – UBS AG, London Branch priced $2.93 million of trigger autocallable contingent yield notes due March 27, 2026 linked to the worst performing of the common stocks of MetLife, Inc. and Lincoln National Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 9.5% per year if the shares of both stocks close at or above the coupon barrier, 55% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par if the shares of both stocks close at or above the initial share price on any quarterly observation date after one year.
If the notes are not called and the final share price of the worst performer is greater than or equal to the downside threshold level, 55% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price of the worst performer is less than the initial share price.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stocks: | MetLife, Inc. and Lincoln National Corp.
|
| Amount: | $2,925,000
|
| Maturity: | March 27, 2026
|
| Contingent coupon: | 9.5%, payable quarterly if each stock closes at or above coupon barrier level on related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless worst performing stock finishes below downside threshold, in which case 1% loss for each 1% decline from initial price
|
| Call: | Automatically at par if each stock closes at or above initial price on any quarterly observation date after one year
|
| Initial prices: | $58.51 for Lincoln, $58.54 for MetLife
|
| Coupon barrier levels: | $32.18 for Lincoln, $32.20 for MetLife; 55% of initial levels
|
| Downside threshold levels: | $32.18 for Lincoln, $32.20 for MetLife; 55% of initial levels
|
| Pricing date: | March 24
|
| Settlement date: | March 26
|
| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 3.35%
|
| Cusip: | 90276BUZ4
|
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