By William Gullotti
Buffalo, N.Y., Dec. 14 – UBS AG, London Branch priced $1 million of step down trigger autocallable notes due Dec. 11, 2026 linked to the least performing of the Invesco S&P 500 Equal Weight ETF, the SPDR S&P 500 ETF Trust and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 9% annualized call premium if all three ETFs close at or above their call levels on any quarterly observation date after one year. Call level starts at 100% of initial level and steps down by 5% after each subsequent valuation.
The notes will be called at par plus the 27% final premium of all three ETFs finish at or above their downside threshold levels on the final call date.
If any ETF finishes below its downside threshold, investors will lose 1% for each 1% decline of the worst performing ETF from its initial level.
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 funds: | Invesco S&P 500 Equal Weight ETF, SPDR S&P 500 ETF Trust, Utilities Select Sector SPDR Fund
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| Amount: | $1 million
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| Maturity: | Dec. 11, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 27% unless any ETF finishes below downside threshold level, in which case 1% loss for each 1% decline of worse performing ETF from initial level
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| Call: | At par plus a 9% annualized call premium if all ETFs close at or above call level on any quarterly valuation date after one year; call level starts at initial level and steps down by 5% after each subsequent valuation
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| Initial levels: | $150.57 for Invesco, $460.20 for SPDR S&P, $63.41 for Utilities
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| Downside thresholds: | $90.34 for Invesco, $276.12 for SPDR S&P, $38.05 for Utilities; 60% of initial levels
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| Pricing date: | Dec. 8
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| Settlement date: | Dec. 13
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.1%
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| Cusip: | 90279WUD4
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