New Issue: UBS prices $2.54 million buffer gears linked to UnitedHealth, Cigna

By William Gullotti

Buffalo, N.Y., March 9 – UBS AG, London Branch priced $2.54 million of 0% buffer gears due March 6, 2025 linked to the stock performance of UnitedHealth Group Inc. and Cigna Corp., according to a 424B2 filing with the Securities and Exchange Commission.

UBS divided the issuance into three tranches with identical terms for $740,000 (Cusip: 90279F6P1), $795,000 (Cusip: 90279F6M8) and $1 million (Cusip: 90279F6N6).

The payout at maturity will be par plus 1.6 times any gain in the least performing stock.

Investors will receive par if the worst performer falls by up to 10% and will lose 1% for every 1% decline of the worst performer beyond 10%.

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

Issuer:	UBS AG, London Branch
Issue:	Buffer gears
Underlying stocks:	UnitedHealth Group Inc., Cigna Corp.
Amount:	$2,535,000
Maturity:	March 6, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.6 times any gain in the least performing stock; par if worst performer falls by up to 10%; otherwise, 1% loss for every 1% decline of worst performer beyond 10%
Initial levels:	$478.56 for UnitedHealth, $286.97 for Cigna
Downside thresholds:	$430.70 for UnitedHealth, $258.27 for Cigna; 90% of initial levels
Strike date:	March 3
Pricing date:	March 6
Settlement date:	March 9
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	0.5%
Cusips:	90279F6M8, 90279F6N6, 90279F6P1

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