By Susanna Moon
Chicago, May 14 - UBS AG, London Branch priced $1.79 million of trigger phoenix autocallable optimization securities due May 16, 2024 linked to the MSCI Emerging Markets index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.63% if each component closes at or above its coupon barrier, 70% of its initial level, on an observation date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if each component closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called and each index finishes at or above its coupon barrier level, the payout at maturity will be par plus the contingent coupon.
If either index finishes below its coupon barrier level but each index finishes at or above its trigger level, 50% of the initial level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying indexes: | MSCI Emerging Markets and Euro Stoxx 50
|
| Amount: | $1,788,000
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| Maturity: | May 16, 2024
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| Coupon: | 7.63% per year, payable quarterly if each component closes at or above its coupon barrier on a quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above its coupon barrier level, par plus contingent coupon; if either index finishes below its coupon barrier level but each index finishes at or above its trigger level, par; investors will be exposed to decline of worst performing component if either index dips below trigger level
|
| Call: | At par plus contingent coupon if each component closes at or above its initial level on any quarterly observation date after one year
|
| Initial levels: | 1,006.95 for MSCI EM, 3,184.09 for Euro Stoxx
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| Coupon barrier levels: | 704.87 for MSCI EM, 2,228.86 for Russell; 70% of initial levels
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| Trigger levels: | 503.48 for MSCI EM, 1,592.05 for Russell; 50% of initial levels
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| Pricing date: | May 9
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| Settlement date: | May 16
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| Agent: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 3.5%
|
| Cusip: | 90272X273
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