New Issue: UBS sells $2.56 million trigger autocallable contingent yield notes with memory on indexes

By William Gullotti

Buffalo, N.Y., March 22 – UBS AG, London Branch priced $2.56 million of trigger autocallable contingent yield notes with memory interest due March 21, 2024 linked to the performance of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a monthly coupon at the rate of 13% per year if each index closes at or above its coupon barrier, 80% of its initial level, on any related observation date. Coupon payment events will automatically include any previously unpaid coupons.

The notes will be automatically called at par plus coupon if each index closes at or above its initial level on any quarterly call observation date after six months.

If the notes are not called and each index finishes at or above its coupon barrier, the payout at maturity will be par plus all unpaid coupons.

If the worst performer finishes below its coupon barrier but at or above the 70% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level.

UBS Securities LLC and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes with memory interest
Underlying indexes:	Nasdaq-100 index, Russell 2000 index, S&P 500 index
Amount:	$2,563,000
Maturity:	March 21, 2024
Coupon:	13% per year, paid monthly, if each index closes at or above its coupon barrier on any related observation date; coupon payments will include any previously unpaid coupons
Price:	Par
Payout at maturity:	If each index finishes at or above coupon barrier level, par plus all unpaid coupons; if the worst performer finishes below its coupon barrier but at or above its downside threshold, par; otherwise, full exposure to decline of worst performer from its initial level
Call:	Automatically at par plus coupon if each index closes at or above initial level on any quarterly call observation date after six months
Initial levels:	14,420.08 for Nasdaq, 2,086.143 for Russell, 4,463.12 for S&P
Coupon barrier levels:	11,536.06 for Nasdaq, 1,668.914 for Russell, 3,570.5 for S&P; 80% of initial levels
Downside thresholds:	10,094.06 for Nasdaq, 1,460.3 for Russell, 3,124.18 for S&P; 70% of initial levels
Pricing date:	March 18
Settlement date:	March 23
Agents:	UBS Securities LLC and UBS Investment Bank
Fees:	0.4%
Cusip:	90279DR65

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