$9,644,000 Contingent Income Auto-Callable Securities with 6-Month Initial Non-Call Period Based on the worst performing of the common stock of Amazon.com, Inc. and the American depositary receipts of Alibaba Group Holding Limited due December 05, 2023, priced on November 30, 2020, were issued by UBS AG London Branch. The pricing supplement for this note (CUSIP: 90278R460) can be found here. The notes had a $10 face value and paid a quarterly coupon of $0.17875, so long as the notes had not been called and Alibaba and Amazon all closed above 50% of their November 30, 2020 closing prices on a determination date. If Alibaba and Amazon closed below 50% of their November 30, 2020 closing prices on a determination date, the notes did not pay a coupon. If not previously called, at maturity, the notes returned $10 in principal if Alibaba and Amazon all closed on the final determination date on November 30, 2023 and above 50% of their November 30, 2020 closing prices. If on November 30, 2023 Alibaba and Amazon closed below 50% of their November 30, 2020 closing prices, the notes paid reduced principal euqal to $10 multiplied by the lowest ratio of Alibaba and Amazon November 30, 2023 closing prices to their November 30, 2020 closing prices. The notes have matured. They paid five coupons totaling $0.53625 and $2.84 repayment per $10 note. Investors thus suffered capital losses of $7.16 and net losses of $6.62.† In the aggregate, investors in this note suffered $6,901,964 in capital losses and $6,384,804 in net losses. See Table 1 and Figure 1.
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