Chicago, March 29 – UBS AG, London Branch priced $3.25 million of trigger autocallable contingent yield notes due Feb. 29, 2024 linked to the common stock of Viatris Inc, according to a 424B2 filing with the Securities and Exchange Commission.
If Viatris stock closes at or above the coupon barrier level – 50% of the initial share price – on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the annual rate of 10.25%. Otherwise, no coupon will be paid that quarter.
If the shares close at or above the initial price on a quarterly observation date after six months, the notes will be called at par plus the contingent coupon.
If the notes are not called and Viatris shares finish at or above the 50% downside threshold level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stock: | Viatris Inc (Nasdaq: VTRS)
|
| Amount: | $3,250,000
|
| Maturity: | Feb. 29, 2024
|
| Coupon: | 10.25%, payable quarterly if stock closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if Viatris shares finish at or above downside threshold level; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if Viatris shares close at or above initial price on a quarterly observation date after six months
|
| Initial share price: | $15.30
|
| Coupon barrier level: | $7.65, 50% of initial price
|
| Downside threshold level: | $7.65, 50% of initial price
|
| Pricing date: | Feb. 24
|
| Settlement date: | Feb. 26
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2.5%
|
| Cusip: | 90276BRN5
|
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