By Kiku Steinfeld
Chicago, Nov. 17 – UBS AG, London Branch priced $1.2 million of trigger autocallable contingent yield notes due March 21, 2024 l linked to an equally weighted basket consisting of the VanEck Agribusiness ETF, the Energy Select Sector SPDR Fund and the SPDR S&P Metals & Mining ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 10.5% per year if the basket closes at or above its 75% coupon barrier on the related quarterly observation date.
The notes will be automatically called at par plus coupon 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 plus the final coupon if the basket finishes at or above the 75% downside threshold. Otherwise, investors will lose 1% for every 1% decline of the basket from initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying ETFs: | VanEck Agribusiness ETF, Energy Select Sector SPDR Fund and SPDR S&P Metals & Mining ETF; equally weighted
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| Amount: | $1,200,010
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| Maturity: | March 21, 2024
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| Coupon: | 10.5% per year, paid quarterly, if each ETF closes at or above its coupon barrier on any related observation date
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| Price: | Par of $10
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| Payout at maturity: | Par plus final coupon if final basket level is greater than or equal to downside threshold; otherwise, full exposure to losses
|
| Call: | Automatically at par plus coupon if the basket closes at or above the initial basket level on any quarterly observation date after six months
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| Initial levels: | $99.10 for VanEck, $71.49 for Energy, $55.86 for Metals
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| Coupon barrier level: | 75% of initial level
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| Downside threshold: | 75% of initial level
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| Pricing date: | March 16
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| Settlement date: | March 21
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.5%
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| Cusip: | 90290V705
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