Chicago, July 24 – UBS AG, London Branch priced $25 million of 0% exchangeable notes due July 20, 2028 linked to the common stock of Applied Materials, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be the greater of par and the arithmetic mean of the conversion values on the five consecutive trading days ending July 14, 2028.
On each valuation date, the conversion value is equal to the share exchange amount multiplied by the closing share price on that valuation date.
The share exchange amount, 6.00839258, is equal to $1,000 divided by the initial share price divided by the conversion premium amount of 1.15. The share exchange amount will be adjusted for any regular cash dividends that exceed or fall short of the target cash dividend, which starts at $0.32 and steadily moves up to $0.36414.
UBS Securities LLC and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
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| Issue: | Exchangeable notes
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| Underlying stock: | Applied Materials, Inc.
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| Amount: | $25 million
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| Maturity: | July 20, 2028
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| Coupon: | 0%
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| Price: | Par of $1,085.80
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| Payout at maturity: | Greater of par and the arithmetic mean of the conversion values on five trading days ending July 14, 2028
|
| Initial share price: | $144.7251
|
| Conversion value: | Share exchange amount multiplied by the closing share price on that valuation date
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| Share exchange amount: | 6.00839258, which is equal to $1,000 divided by the initial share price divided by the conversion premium amount
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| Conversion premium amount: | 1.15
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| Target cash dividend: | Varies, starts at $0.32 but goes up to $0.36414
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| Pricing date: | July 14
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| Settlement date: | July 20
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| Underwriters: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 0%
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| Cusip: | 90279GE54
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