By Sarah Lizee
Olympia, Wash., Aug. 21 – UBS AG London Branch priced $1 million of 0% capped buffer gears due Aug. 24, 2023 linked to an equally-weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the common stocks Citigroup Inc., Goldman Sachs Group, Inc. and Wells Fargo & Co.
If the basket finishes at or above its initial level, the payout at maturity will be par plus 1.2 times the basket gain, up to a maximum return of par plus 60%.
If the basket falls by no more than 10%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the basket beyond the 10% buffer.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG London Branch
|
| Issue: | Capped buffer gears
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| Underlying basket: | Citigroup Inc., Goldman Sachs Group, Inc. and Wells Fargo & Co.; equally weighted
|
| Amount: | $1 million
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| Maturity: | Aug. 24, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket finishes at or above its initial level, par plus 1.2 times return up to maximum return of par plus 60%; if basket falls by up to 10%, par; otherwise, 1% loss for each 1% decline of basket beyond the 10% buffer
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| Initial levels: | $50.29 for Citi, $203.02 for Goldman, $24.07 for Wells
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| Buffer level: | 90% of initial basket level
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| Pricing date: | Aug. 19
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| Settlement date: | Aug. 24
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2.85%
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| Cusip: | 90276BFS7
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