By Wendy Van Sickle
Columbus, Ohio, March 1 – UBS AG, London Branch priced $2 million of step down trigger autocallable notes due Feb. 26, 2027 linked to the performance of Occidental Petroleum Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an 18.3% annualized call premium if the stock closes at or above the call level on any monthly observation date after 13 months. The call level starts at 100% of the initial share price and decreases by 1% per subsequent observation date.
If the notes are not called, the payout at maturity will be par if the stock finishes at or above the downside threshold level.
Otherwise, investors will lose 1% for each 1% decline of the stock from its initial share price.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Step down trigger autocallable notes
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| Underlying stock: | Occidental Petroleum Corp.
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| Amount: | $2 million
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| Maturity: | Feb. 26, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par if notes are not called and stock finishes at or above downside threshold; otherwise, 1% loss for each 1% decline from initial share price
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| Call: | At par plus 18.3% annualized call premium if stock closes at or above call level on any monthly observation date after 13 months; call level starts at 100% of initial level and decreases by 1% per subsequent observation date
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| Initial share price: | $59.22
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| Downside threshold: | $35.53, 60% of initial level
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| Pricing date: | Feb. 24
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| Settlement date: | March 1
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.6%
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| Cusip: | 90279F5B3
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