By William Gullotti
Buffalo, N.Y., Dec. 13 – UBS AG, London Branch priced $1.89 million of 9.25% trigger callable yield notes due Feb. 28, 2024 linked to the SPDR S&P MidCap 400 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any monthly call date after three months.
The payout at maturity will be par unless the ETF finishes below its 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the ETF.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable yield notes
|
| Underlying fund: | SPDR S&P MidCap 400 ETF Trust
|
| Amount: | $1,892,000
|
| Maturity: | Feb. 28, 2024
|
| Coupon: | 9.25% per year, payable monthly
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless ETF finishes below downside threshold, in which case 1% loss for each 1% decline of ETF
|
| Call option: | At par on any monthly evaluation date after three months
|
| Initial level: | $465.10
|
| Downside threshold: | $325.57; 70% of initial level
|
| Pricing date: | Nov. 23
|
| Settlement date: | Nov. 29
|
| Underwriter: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1%
|
| Cusip: | 90289V732
|
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