New Issue: UBS prices $2.77 million contingent income autocallables with memory on Russell, S&P

By William Gullotti

Buffalo, N.Y., Aug. 31 – UBS AG, London Branch priced $2.77 million of contingent income autocallable securities with memory coupon due Aug. 21, 2025 linked to the performance of the Russell 2000 index and the S&P 500 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 9% if each index closes at or above its 70% coupon barrier on the corresponding observation date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.

The notes will be called at par plus the contingent coupon if the worst performing index closes at or above initial level on any quarterly determination date after six months.

If the final index level of each index is greater than or equal to the downside threshold level, 70% of initial level, the payout at maturity will be par plus all unpaid coupons.

Otherwise, investors will be exposed to the decline of the worst performer from its initial level.

UBS Securities LLC is the agent and Morgan Stanley Wealth Management is the dealer.

Issuer:	UBS AG, London Branch
Issue:	Contingent income autocallable securities with memory coupon
Underlying indexes:	Russell 2000 index, S&P 500 index
Amount:	$2,768,000
Maturity:	Aug. 21, 2025
Coupon:	9% per year, payable quarterly if each index closes at or above coupon barrier level on the relevant observation date; coupon payment events will automatically include any previously unpaid coupons
Price:	Par
Payout at maturity:	Par plus the final coupon unless worst performing index finishes below downside threshold level, in which case investors will be exposed to the worst performer’s decline from its initial level
Call:	At par plus contingent coupon if each index closes at or above initial level on any quarterly determination date after six months
Initial levels:	1,859.421 for Russell, 4,369.71 for S&P
Coupon barriers:	1,301.595 for Russell, 3,058.8 for S&P; 70% of initial levels
Downside thresholds:	1,301.595 for Russell, 3,058.8 for S&P; 70% of initial levels
Pricing date:	Aug. 18
Settlement date:	Aug. 23
Agent:	UBS Securities LLC
Dealer:	Morgan Stanley Wealth Management
Fees:	1%
Cusip:	90279G4P1

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