UBS to price trigger callable contingent yield notes on three ETFs

By Sarah Lizee

Olympia, Wash., Feb. 26 – UBS AG, London Branch plans to price trigger callable contingent yield notes due Sept. 1, 2022 linked to the worst performing of the Xtrackers Harvest CSI 300 China A-Shares ETF, the iShares Russell 2000 ETF and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 6.35% if each ETF’s closing level is at least 60% of its initial level on every trading day during that quarter.

The notes will be callable in whole but not in part on any quarterly observation date other than the final one at par of $10 plus any coupon.

If the notes are not called and each ETF finishes at or above its 60% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing ETF’s final level is below its initial level.

UBS Securities LLC is the agent. Morgan Stanley Wealth Management is the dealer.

The notes will price on Feb. 28.

The Cusip number is 90281G816.

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