By Tali Rackner
Minneapolis, April 9 – UBS AG, London Branch priced $9.37 million of trigger autocallable contingent yield notes due April 9, 2020 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.95% if the fund closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes will be called at par if the fund closes at or above its initial price on any quarterly observation date after six months.
The payout at maturity will be par unless the fund finishes below the 75% downside threshold, in which case investors will lose 1% for each 1% decline.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying fund: | SPDR S&P 500 ETF Trust
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| Amount: | $9,365,500
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| Maturity: | April 9, 2020
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| Coupon: | 7.95%, payable quarterly if the fund closes at or above 75% coupon barrier on observation date
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| Price: | Par of $10
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| Call: | At par plus contingent coupon if the fund closes at or above initial price on any quarterly observation date after six months
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| Payout at maturity: | Par unless the fund closes below 75% downside threshold, in which case 1% loss for each 1% decline
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| Initial price: | $263.56
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| Barrier/downside threshold: | $197.67; 75% of initial price
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| Pricing date: | April 4
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| Settlement date: | April 9
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.5%
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| Cusip: | 90280Y867
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