By Marisa Wong
Los Angeles, Oct. 28 – UBS AG, London Branch priced $12,198,280 of trigger autocallable contingent yield notes due Oct. 26, 2023 linked to the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at a rate of 9.14% per year if the ETF closes at or above the coupon barrier, 60% of the initial value, on the observation date for that quarter.
The notes will be automatically called at par of $10 if the ETFcloses at or above the initial value on any quarterly observation date.
If the notes are not called and the ETF finishes at or above the downside threshold level, 60% of the initial value, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final value is less than the initial value.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying ETF: | iShares Silver Trust
|
| Amount: | $12,198,280
|
| Maturity: | Oct. 26, 2023
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| Contingent coupon: | 9.14%, payable each quarter that ETF closes at or above coupon barrier on related quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless ETF finishes below downside threshold, in which case 1% loss for each 1% decline from initial value
|
| Call: | Automatically at par if ETF closes at or above initial value on any quarterly observation date
|
| Initial value: | $22.94
|
| Coupon barrier: | $13.76, 60% of initial value
|
| Downside threshold: | $13.76, 60% of initial value
|
| Pricing date: | Oct. 23
|
| Settlement date: | Oct. 28
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90278R130
|
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