New Issue: UBS prices $2.95 million trigger autocallable contingent yield notes on three tech stocks

By William Gullotti

Buffalo, N.Y., Oct. 28 – UBS AG, London Branch priced $2.95 million of trigger autocallable contingent yield notes due Oct. 25, 2024 linked to the least performing of the stocks of Apple Inc., Alphabet Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at the rate of 9.5% per year if each stock closes at or above its coupon barrier, 60% of its initial level, on the corresponding observation date.

The notes will be automatically called at par plus coupon if the shares of each stock closes 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 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 level.

UBS Securities LLC and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes
Underlying stocks:	Apple Inc., Alphabet Inc., Microsoft Corp.
Amount:	$2,945,000
Maturity:	Oct. 25, 2024
Coupon:	9.5% per year, paid quarterly, if each stock closes at or above its coupon barrier on the related observation date
Price:	Par
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
Call:	Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call observation date after six months
Initial levels:	$148.69 for Apple, $2,751.33 for Alphabet, $309.16 for Microsoft
Coupon barrier levels:	$89.21 for Apple, $1,650.80 for Alphabet, $185.50 for Microsoft; 60% of initial levels
Downside thresholds:	$89.21 for Apple, $1,650.80 for Alphabet, $185.50 for Microsoft; 60% of initial levels
Pricing date:	Oct. 22
Settlement date:	Oct. 27
Agents:	UBS Securities LLC and UBS Investment Bank
Fees:	None
Cusip:	90279DLU8

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