New Issue: UBS sells $300,000 trigger return optimization securities on SPDR S&P 500 ETF

By Sarah Lizee

Olympia, Wash., March 16 – UBS AG, London Branch priced $300,000 of trigger return optimization securities due March 13, 2025 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF closes at or above the initial price, the payout at maturity will be par plus 1.5 times any gain in the ETF capped at 54.32%.

If the ETF falls by up to 40%, the payout will be par.

Otherwise, investors will be fully exposed to the decline of the ETF.

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

Issuer:	UBS AG, London Branch
Issue:	Trigger return optimization securities
Underlying ETF:	SPDR S&P 500 ETF Trust
Amount:	$300,000
Maturity:	March 13, 2025
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the ETF closes at or above the initial price, par plus 1.5 times any gain in the ETF capped at 54.32%; if the ETF falls by up to 40%, par; otherwise, investors will be fully exposed to the decline of the ETF
Initial share price:	$274.23
Trigger level:	$164.54, 60% of initial level
Pricing date:	March 9
Settlement date:	March 11
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2.5%
Cusip:	90289C130

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