New Issue: UBS prices $5 million airbag in-digital securities linked to S&P 500

By William Gullotti

Buffalo, N.Y., May 10 – UBS AG, London Branch priced $5 million of 0% airbag in-digital securities due Feb. 29, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final level of the index is greater than or equal to its digital barrier, 80% of its initial level, the payout at maturity will be par of $10 plus 14.75%.

Otherwise, investors will lose 1.25% for every 1% that the index declines below 20%.

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

Issuer:	UBS AG, London Branch
Issue:	Airbag in-digital securities
Underlying index:	S&P 500 index
Amount:	$5 million
Maturity:	Feb. 29, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If final level of the index is greater than or equal to digital barrier, par plus 14.75%; otherwise, 1.25% loss for every 1% that index declines below 20%
Initial level:	4,183.96
Digital barrier:	3,347.17; 80% of initial level
Strike date:	April 27
Pricing date:	April 28
Settlement date:	April 29
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	0.64%
Cusip:	9026MP569

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