By Wendy Van Sickle
Columbus, Ohio, April 4 – UBS AG, London Branch priced $30 million of trigger autocallable contingent yield notes due March 31, 2027 linked to the least performing of the SPDR S&P 500 ETF trust and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 8.07% 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 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 the final coupon. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing ETF is less than its initial share price.
The notes are guaranteed by Citigroup Inc.
UBS Investment Bank and UBS Financial Services Inc. 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 500 ETF trust, SPDR S&P Regional Banking ETF
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| Amount: | $29,996,840
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| Maturity: | March 31, 2027
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| Coupon: | 8.07% per year, paid quarterly, if each ETF closes at or above its coupon barrier on any related observation date
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| Price: | Par of $10
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| Payout at maturity: | Par plus final coupon unless any ETF finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard ETF from initial level
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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: | $461.55 for 500, $72.42 for Regional Banking
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| Coupon barrier levels: | $276.93 for 500, $43.45 for Regional Banking; 60% of initial levels
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| Downside thresholds: | $276.93 for 500, $43.45 for Regional Banking; 60% 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 Investment Bank and UBS Financial Services Inc.
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| Fees: | 2.25%
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| Cusip: | 9026MP171
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