By Wendy Van Sickle
Columbus, Ohio, Dec. 20 – UBS AG, London Branch priced $2.9 million of trigger autocallable contingent yield notes due Dec. 19, 2024 linked to the common stocks of Intel Corp., Microsoft Corp. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8.3% per year if the shares of each stock close at or above the coupon barrier level, 50% of the initial share prices, on the observation date for that quarter.
The notes will be automatically called at par plus any coupon due if the shares of each stock close at or above its initial share price on any quarterly call observation date after one year.
If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 50% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing stock is less than its initial share price.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stocks: | Intel Corp., Microsoft Corp. and Apple Inc.
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| Amount: | $2.9 million
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| Maturity: | Dec. 19, 2024
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| Contingent coupon: | 8.3%, payable quarterly if each stock closes at or above coupon barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard stock from initial level
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| Call: | Automatically at par plus any coupon due if each stock closes at or above initial level on any quarterly call observation date after a year
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| Initial levels: | $57.70 for Intel, $161.71 for Microsoft and $279.86 for Apple
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| Coupon barriers: | $28.85 for Intel, $97.03 for Microsoft and $139.93 for Apple; 50% of initial levels
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| Downside thresholds: | $20.08 for Intel, $97.03 for salesforce.com and $55.74 for Apple; 50% of initial levels
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| Pricing date: | Dec. 16
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| Settlement date: | Dec. 19
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3.35%
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| Cusip: | 90270KY78
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