By Wendy Van Sickle
Columbus, Ohio, April 6 – UBS AG, London Branch priced $500,000 of trigger autocallable contingent yield notes due March 22, 2024 linked to the common stock of Dick's Sporting Goods, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 15% per year if Dick's shares close at or above the downside threshold level, 70% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par if Dick's shares close at or above 90% of the initial share price on any quarterly observation date after six months.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | Dick's Sporting Goods, Inc.
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| Amount: | $500,000
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| Maturity: | March 22, 2024
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| Contingent coupon: | 15%, payable quarterly if stock closes at or above downside threshold on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless stock finishes below downside threshold level, in which case full exposure to loss
|
| Call: | At par if stock closes at or above 90% of initial level on any quarterly observation date after six months
|
| Initial price: | $80.58
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| Call threshold: | $72.52, 90% of initial price
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| Downside threshold: | $56.41, 70% of initial price
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| Pricing date: | March 19
|
| Settlement date: | March 24
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2.755%
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| Cusip: | 90276BUP6
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