By William Gullotti
Buffalo, N.Y., Sept. 20 – UBS AG, London Branch priced $5.62 million of trigger autocallable contingent yield notes with memory coupon due Sept. 18, 2025 linked to the common stock of Devon Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 13.7% per year if the shares close at or above the coupon barrier, 60% of the initial share price, on the relevant observation date, in which case investors will also receive any previously unpaid coupons.
The notes will be automatically called at par plus the coupon if the shares close at or above the initial share price on any quarterly observation date after six months.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 60% of the initial share price, the payout at maturity will be par plus all unpaid coupons.
Otherwise, investors will receive a number of shares equal to $1,000 divided by the stock’s initial price or, at the issuer’s option, the cash equivalent.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes with memory coupon
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| Underlying stock: | Devon Energy Corp.
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| Amount: | $5,624,000
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| Maturity: | Sept. 18, 2025
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| Contingent coupon: | 13.7%, payable quarterly if stock closes at or above coupon barrier level on related quarterly observation date; coupon payment events will include previously unpaid coupons, if any
|
| Price: | Par
|
| Payout at maturity: | Par plus all unpaid coupons unless stock finishes below downside threshold, in which case receive 20.1288 shares per note or, at the issuer’s option, the cash equivalent
|
| Call: | Automatically at par plus coupon if stock closes at or above initial price on any quarterly observation date after six months
|
| Initial price: | $49.68
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| Coupon barrier: | $29.81; 60% of initial price
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| Downside threshold: | $29.81; 60% of initial price
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| Pricing date: | Sept. 15
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| Settlement date: | Sept. 20
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.75%
|
| Cusip: | 90279WDQ4
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