By Wendy Van Sickle
Columbus, Ohio, April 4 – UBS AG, London Branch priced $6 million of trigger autocallable contingent yield notes due March 31, 2022 linked to the lesser performing of the VanEck Vectors Gold Miners ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.35% if each ETF closes at or above its coupon barrier level, 65% of its initial level, on the observation date for that quarter.
The notes will be called at par if each ETF closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless either ETF finishes below the 65% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing ETF.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying ETFs: | VanEck Vectors Gold Miners ETF and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $6 million
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| Maturity: | March 31, 2022
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| Coupon: | 12.35%, payable quarterly if each ETF closes at or above coupon barrier on observation date
|
| Price: | Par
|
| Call: | At par plus contingent coupon if both ETFs close at or above initial levels on any quarterly observation date other than the final one
|
| Payout at maturity: | Par unless either ETF closes below downside threshold, in which case 1% loss for each 1% decline of worse performing ETF
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| Initial levels: | $23.01 for Gold Miners, $30.62 for Oil & Gas
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| Coupon barriers: | $14.96 for Gold Miners, $19.90 for Oil & Gas; 65% of initial levels
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| Downside thresholds: | $14.96 for Gold Miners, $19.90 for Oil & Gas; 65% of initial levels
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| Pricing date: | March 27
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| Settlement date: | March 29
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2.85%
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| Cusip: | 90270KYV5
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