By Wendy Van Sickle
Columbus, Ohio, March 4 – UBS AG, London Branch priced $12 million of trigger autocallable contingent yield notes due Feb. 10, 2027 linked to the least performing of the SPDR S&P Biotech ETF and the SPDR S&P MidCap 400 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 10.25% per year if each ETF closes at or above its coupon barrier, 60% of its initial level, on the related observation date.
The notes will be automatically called at par plus a coupon if the shares of each ETF close at or above its initial share price on any quarterly call observation date after six months.
If the notes are not called and the final share price of each ETF is greater than or equal to the downside threshold level, 60% of the initial share price, the payout at maturity will be par plus any final coupon.
Otherwise, investors will be fully exposed to the losses of the laggard ETF.
UBS Securities LLC 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: | SPDR S&P Biotech ETF and SPDR S&P MidCap 400 ETF trust
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| Amount: | $12 million
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| Maturity: | Feb. 10, 2027
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| Coupon: | 10.25%, paid quarterly, if each ETF closes at or above its coupon barrier on any related observation date; previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | Par plus any final coupon unless any ETF finishes below downside threshold level, in which case full exposure to loss of laggard ETF
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| Call: | Automatically at par plus coupon if each ETF closes at or above initial level on any quarterly call observation date after six months
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| Initial levels: | $87.97 for Biotech, $505.01 for SPDR S&P MidCap 400
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| Coupon barrier levels: | 60% of initial levels
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| Downside thresholds: | 60% of initial levels
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| Pricing date: | Feb. 5
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| Settlement date: | Feb. 8
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 2%
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| Cusip: | 36267H385
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