By Taylor Fox
New York, Feb. 22 – UBS AG, London Branch priced $500,000 of trigger autocallable contingent yield notes due Jan. 30, 2024 linked to the American Depositary Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 12% per year if the shares close at or above the downside threshold level, 60% of the initial share price, on the observation date for that month.
The notes will be automatically called at par if the shares close at or above the initial share price on any monthly observation date after three months.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the stock from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | Alibaba Group Holding Ltd.
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| Amount: | $500,000
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| Maturity: | Jan. 30, 2024
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| Contingent coupon: | 12% annual rate, payable monthly if stock closes at or above downside threshold on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below downside threshold level, in which case 1% loss for each 1% decline from stock’s initial level
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| Call: | At par if stock closes at or above initial level on any monthly observation date after three months
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| Initial price: | $258.62
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| Downside threshold: | $155.17, 60% of initial price
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| Pricing date: | Jan. 22
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| Settlement date: | Jan. 25
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.7%
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| Cusip: | 90276BNY5
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