By Wendy Van Sickle
Columbus, Ohio, March 17 – UBS AG, London Branch priced $16.51 million of 0% trigger autocallable notes due March 8, 2023 linked to the SPDR S&P MidCap 400 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 11.5% per year if the ETF closes 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, 75% 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 Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable notes
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| Underlying ETF: | SPDR S&P MidCap 400 ETF trust
|
| Amount: | $16,511,030
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| Maturity: | March 8, 2023
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| Coupon: | 0%
|
| Price: | Par
|
| 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 plus 11.5% per year if ETF closes at or above initial value on any quarterly observation date
|
| Initial value: | $457.09
|
| Downside threshold: | $342.82, 75% of initial value
|
| Pricing date: | March 3
|
| Settlement date: | March 8
|
| Agents: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 90278X590
|
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