New Issue: UBS prices $15.4 million trigger autocallable contingent yield notes on stock basket

By Wendy Van Sickle

Columbus, Ohio, March 11 – UBS AG, London Branch priced $15.4 million of trigger autocallable contingent yield notes due Feb. 27, 2023 linked to an equally weighted basket of the common stocks of Amgen Inc., Cisco Systems, Inc., Chevron Corp., Dow Inc., International Business Machines Corp., Coca-Cola Co., 3M Co., Pfizer Inc., Verizon Communications Inc. and Exxon Mobil Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 8.6% if the basket closes at or above its 80% coupon barrier on the related quarterly observation date.

The notes will be called at par plus accrued interest if the basket closes at or above the initial basket level on any quarterly observation date after six months.

If the notes are not called, the payout at maturity will be par unless the final price of the basket is less than the 80% downside threshold, in which case investors will be fully exposed to the basket level decline.

UBS Securities LLC and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes
Underlying stocks:	Amgen Inc., Cisco Systems, Inc., Chevron Corp., Dow Inc., International Business Machines Corp., Coca-Cola Co., 3M Co., Pfizer Inc., Verizon Communications Inc. and Exxon Mobil Corp., equally weighted
Amount:	$15.4 million
Maturity:	Feb. 27, 2023
Coupon:	8.6% annualized, payable each quarter that basket closes at or above coupon barrier on observation date for that quarter
Price:	Par
Payout at maturity:	Par unless final basket level is less than downside threshold, in which case full exposure to losses
Call:	Automatically at par plus accrued interest if basket closes at or above initial share price on any quarterly observation date after six months
Initial share price:	$231.69 for Amgen, $45.68 for Cisco, $95.80 for Chevron, $60.39 for Dow, $118.99 for IBM, $50.11 for Coca-Cola, $176.54 for 3M, $34.44 for Pfizer, $56.45 for Verizon, $52.37 for Exxon
Coupon barrier:	80% of initial level
Downside threshold:	80% of initial level
Pricing date:	Feb. 19
Settlement date:	Feb. 25
Agents:	UBS Securities LLC and UBS Investment Bank
Fees:	1.25%
Cusip:	90278X509

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