By Wendy Van Sickle
Columbus, Ohio, Nov. 4 – UBS AG, London Branch priced $5 million of trigger autocallable contingent yield notes due Nov. 2, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.1% if the index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the coupon if the index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par plus the coupon unless the index finishes below the 70% downside threshold, in which case investors will lose 1% for each 1% decline of the index from its initial level.
UBS Securities LLC is the agent.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying index: | S&P 500 index
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| Amount: | $5 million
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| Maturity: | Nov. 2, 2023
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| Coupon: | 7.1%, payable quarterly if the index closes at or above coupon barrier on related observation date
|
| Price: | Par of $10
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| Call: | At par plus coupon if the index closes at or above initial level on any quarterly observation date after one year
|
| Payout at maturity: | Par plus coupon if index closes above downside threshold; otherwise 1% for each 1% decline of index from initial level
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| Initial level: | 3,269.96
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| Coupon barrier: | 2,288.97, 70% of initial level
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| Downside threshold: | 2,288.97, 70% of initial level
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| Pricing date: | Nov. 2
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| Settlement date: | Nov. 5
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| Agent: | UBS Securities LLC
|
| Fees: | 1.5%
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| Cusip: | 90277R221
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