By William Gullotti
Buffalo, N.Y., June 22 – UBS AG, London Branch priced $3 million of 0% trigger absolute return digital securities due June 27, 2024 linked to Apple Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock finishes at or above its initial level, the payout at maturity will be par plus 5%.
If the stock declines but finishes at or above its 65% downside threshold, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger absolute return digital securities
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| Underlying stock: | Apple Inc.
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| Amount: | $3 million
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| Maturity: | June 27, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If stock finishes at or above initial level, par plus 5%; if stock declines but finishes at or above downside threshold, par plus absolute return; otherwise, full exposure to share price decline from initial price
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| Initial share price: | $186.01
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| Downside threshold: | $120.91; 65% of initial price
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| Strike date: | June 15
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| Pricing date: | June 16
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| Settlement date: | June 21
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1%
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| Cusip: | 90289X753
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