New Issue: UBS prices $5.47 million trigger callable contingent yield notes on indexes, ETF

By William Gullotti

Buffalo, N.Y., March 12 – UBS AG, London Branch priced $5.47 million of trigger callable contingent yield notes due Nov. 29, 2027 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10.35% if each underlier’s closing level is greater than or equal to its 70% coupon barrier level on the corresponding observation date.

The notes may be called at par on any quarterly observation date after six months.

If the notes are not called and each underlier finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.

If the worst performer finishes below its coupon barrier but at or above its 60% trigger level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the worst performer’s final level is below its initial level.

UBS Financial Services Inc. and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger callable contingent yield notes
Underlying assets:	S&P 500 index, Russell 2000 index, Utilities Select Sector SPDR Fund
Amount:	$5,473,000
Maturity:	Nov. 29, 2027
Coupon:	10.35% per year, payable quarterly if each underlier closes at or above its coupon barrier level on the relevant observation date
Price:	Par
Payout at maturity:	If each underlier finishes at or above coupon barrier level, par plus final coupon; if worst performer finishes below its coupon barrier but at or above its trigger level, par; otherwise, full exposure to the decline of the worst performer from its initial level
Call option:	At par on any quarterly observation date after six months
Initial levels:	$61.96 for ETF, 2,016.688 for Russell, 5,088.8 for S&P
Coupon barrier levels:	$43.37 for ETF, 1,411.682 for Russell, 3,562.16 for S&P; 70% of initial levels
Trigger levels:	$37.18 for ETF, 1,210.013 for Russell, 3,053.28 for S&P; 60% of initial levels
Pricing date:	Feb. 23
Settlement date:	Feb. 28
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	0.3%
Cusip:	90279W7C2

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