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Published on 7/12/2017 in the Prospect News Structured Products Daily.

UBS to price trigger autocallable contingent yield notes tied to funds

By Devika Patel

Knoxville, Tenn., July 12 – UBS AG plans to price trigger autocallable contingent yield notes due July 19, 2022 linked to the SPDR S&P Biotech exchange-traded fund and the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8.025% if each fund closes at or above its coupon barrier, 60% of its initial level, on the observation date for that quarter.

The notes will be called at par plus the coupon if each fund closes at or above its initial level on any quarterly observation date other than the final one beginning Jan. 16, 2018.

The payout at maturity will be par unless any fund finishes below the downside threshold level, 60% of the initial level, in which case investors will lose 1% for every 1% loss of the worse performing fund.

UBS Financial Services Inc. and UBS Investment Bank are the agents.

The notes (Cusip: 90270KLK3) will price on July 14 and settle on July 19.


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