New Issue: UBS sells $1.19 million trigger autocallable contingent yield notes with memory on stocks

By Kiku Steinfeld

Chicago, Oct. 13 – UBS AG, London Branch priced $1.19 million of trigger autocallable contingent yield notes with memory interest due Feb. 23, 2024 linked to the least performing of the common stocks of Sysco Corp. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at the rate of 22% per year if each stock closes at or above its coupon barrier, 80% of its initial level, on any related observation date. Contingent coupon payments will include any previously unpaid coupons.

The notes will be automatically called at par if the shares of each stock close at or above its initial share price on any monthly call observation date after six months.

If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 60% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least performing stock falls from its initial level, payable in stock or in cash at the issuer’s option.

UBS Securities LLC and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes with memory interest
Underlying stocks:	Sysco Corp., Tesla, Inc.
Amount:	$1.19 million
Maturity:	Feb. 23, 2024
Coupon:	22% per year, paid monthly, if each stock closes at or above its coupon barrier on any related observation date; coupon payment events will include previously unpaid coupons, if any
Price:	Par
Payout at maturity:	Par unless any stock finishes below downside threshold level, in which case 1% loss for each 1% decline of least performer falls from its initial level, payable in stock or in cash at the issuer’s option
Call:	Automatically at par if the shares of each stock close at or above its initial share price on any monthly call observation date after six months
Initial levels:	$83.55 for Sysco, $856.98 for Tesla
Coupon barrier levels:	$66.84 for Sysco, $685.58 for Tesla; 80% of initial levels
Downside thresholds:	$50.13 for Sysco, $514.19 for Tesla; 60% of initial levels
Equity ratios:	11.9689 for Sysco, 1.1669 for Tesla
Pricing date:	Feb. 18
Settlement date:	Feb. 24
Agents:	UBS Securities LLC and UBS Investment Bank
Fees:	0.25%
Cusip:	90279DZC3

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