By Wendy Van Sickle
Columbus, Ohio, March 19 – UBS AG, London Branch priced $8.05 million of autocallable contingent income autocallable securities due March 6, 2024 linked to the stocks of Lyft, Inc. and Uber Technologies, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent income at the rate of 10.5% per year if the least-performing stock closes at or above its trigger price, 60% of its initial price, on the observation date for that quarter.
The notes will be called at par if the least-performing stock closes at or above its initial price on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless the least-performing stock finishes below its trigger price, in which case investors will be fully exposed to the decline.
UBS Securities LLC. is the agent. Morgan Stanley Smith Barney LLC is acting as distributor.
| Issuer: | UBS AG, London Branch
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| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Lyft, Inc. and Uber Technologies, Inc.
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| Amount: | $8.05 million
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| Maturity: | March 6, 2024
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| Coupon: | 10.5%, payable quarterly if least-performing stock closes at or above trigger price on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless least-performing stock finishes below trigger price, in which case full exposure to decline of least-performing stock
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| Call: | At par if least-performing stock closes at or above initial price on any quarterly observation date
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| Initial share prices: | $57.34 for Lyft and $54.40 for Uber
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| Trigger price: | $34.40 for Lyft and $32.64 for Uber, 60% of initial share price
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| Pricing date: | March 1
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| Settlement date: | March 4
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| Agent: | UBS Securities LLC
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| Distributor: | Morgan Stanley Smith Barney LLC
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| Fees: | 2.5%
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| Cusip: | 90278X533
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