Chicago, March 18 – UBS AG, London Branch priced $2.59 million of 0% step-down trigger autocallable notes due March 9, 2027 linked to the least performing of the Industrial Select Sector SPDR Fund and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
After six months, the notes will be automatically called at par plus 10.9% per year if each ETF closes at or above its call level on any quarterly observation date. The call level starts as the initial level. It steps down to 95% of the initial level on June 4, 2025 and again to 90% on June 4, 2026.
The maturity date premium is 32.7%.
If the notes are not subject to an automatic call, that means the final level of at least one ETF will be less than its call level, 90% of its initial level. If the worst performer finishes between 75% and 90% of its initial level, the payout at maturity will be par.
Otherwise, investors will be exposed to the decline of the lesser-performing ETF from its initial level, payable in shares.
UBS Investment Bank and UBS Securities LLC are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Step-down trigger autocallable notes
|
| Underlying ETFs: | Industrial Select Sector SPDR Fund and Utilities Select Sector SPDR Fund
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| Amount: | $2,591,000
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| Maturity: | March 9, 2027
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 32.7% if called; par if worst performer finishes between 75% and 90% of initial level; otherwise, full exposure to losses of worst performer, payable in shares
|
| Call: | After six months, at par plus 10.9% per year if each ETF closes at or above its call level on any quarterly observation date, call level starts at initial level and reduces to 95% on June 4, 2025 and to 90% on June 4, 2026
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| Initial levels: | $121.96 for industrial, $62.76 for utilities
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| Downside thresholds: | $91.47 for industrial, $47.07 for utilities, 75% of initial levels
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| Share delivery amounts: | 8.1994 for industrial, 15.9337 for utilities
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| Pricing date: | March 4
|
| Settlement date: | March 7
|
| Agents: | UBS Investment Bank and UBS Securities LLC
|
| Fees: | 2%
|
| Cusip: | 90279W5Q3
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