By Kiku Steinfeld
Chicago, Jan. 25 – UBS AG, London Branch priced $1.7 million of trigger autocallable contingent yield notes due Jan. 19, 2024 linked to the common stock of General Motors Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 11.5% per year if General Motors shares close at or above the downside threshold level, 60% of the initial share price, on the observation date for that month.
The notes will be automatically called at par if General Motors shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par. Otherwise, investors will receive a number of shares of General Motors stock equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stock: | General Motors Co.
|
| Amount: | $1.7 million
|
| Maturity: | Jan. 19, 2024
|
| Contingent coupon: | 11.5%, payable monthly if stock closes at or above downside threshold on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below downside threshold level, in which case 19.4062 General Motors shares or cash
|
| Call: | At par if stock closes at or above initial level on any quarterly observation date
|
| Initial price: | $51.53
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| Downside threshold: | $30.92, 60% of initial price
|
| Pricing date: | Jan. 14
|
| Settlement date: | Jan. 20
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.6%
|
| Cusip: | 90276BMZ3
|
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