UBS eyes trigger autocallable contingent yield notes on two ETFs

By Sarah Lizee

Olympia, Wash., March 26 – UBS AG, London Branch plans to price trigger autocallable contingent yield notes due March 31, 2022 linked to the lesser performing of the VanEck Vectors Gold Miners ETF and the shares of the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 12.35% if each ETF closes at or above its coupon barrier level, 65% of its initial level, on the observation date for that quarter. The exact coupon will be set at pricing.

The notes will be called at par plus the contingent coupon if each ETF closes at or above its initial level on any quarterly observation date other than the final one.

The payout at maturity will be par unless either ETF finishes below the 65% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing ETF.

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

The notes will price March 27.

The Cusip number is 90270KYV5.

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