By Cady Vishniac
Detroit, Dec. 24 – UBS AG, London Branch priced $2.33 million of trigger callable contingent yield notes due Dec. 23, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at a rate of 6% per year if the index closes at or above its coupon barrier level, 70% of its initial level, on the related semiannual observation date.
The notes may be called at par plus any coupon due on any semiannual observation date prior to the final valuation date.
The payout at maturity will be par plus unless the index finishes at or below the downside threshold level, 70% of the initial level, in which case investors will lose 1% for every 1% decline of the index from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying index: | S&P 500 index
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| Amount: | $2,334,000
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| Maturity: | Dec. 23, 2024
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| Coupon: | 6% per year, payable semiannually if the index closes at or above its coupon barrier on the related semiannual observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless index finishes below downside threshold, in which case 1% loss for each 1% drop below initial level
|
| Call option: | At par plus any coupon on any semiannual observation date prior to final valuation date
|
| Initial index level: | 3,709.41
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| Coupon barrier/downside threshold: | 2,596.59, 70% of initial level
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| Pricing date: | Dec. 18
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| Settlement date: | Dec. 23
|
| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | None
|
| Cusip: | 90276BLM3
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