By Wendy Van Sickle
Columbus, Ohio, April 1 – UBS AG, London Branch priced $3 million of trigger autocallable yield notes due April 1, 2027 linked to the least performing of the common stocks of Apple Inc., American Express Co., and Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a coupon at the rate of 10% per year.
The notes will be automatically called at par if the shares of each stock closes at or above its initial share price on any quarterly call observation date after a year.
If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 50% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing stock is less than its initial share price.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable yield notes
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| Underlying stocks: | Apple Inc., American Express Co., and Bank of America Corp.
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| Amount: | $3 million
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| Maturity: | April 1, 2027
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| Contingent coupon: | 10% annual rate, paid quarterly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard stock from initial level
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| Call: | Automatically at par due if each stock closes at or above initial level on any quarterly call observation date after a year
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| Initial levels: | $178.96 for Apple, $190.94 for American Express, $43.44 for Bank of America
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| Downside thresholds: | $89.48 for Apple, $95.47 for American Express, $21.72 for Bank of America; 50% of initial levels
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| Pricing date: | March 29
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| Settlement date: | March 31
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3.35%
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| Cusip: | 90279DV60
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