By Susanna Moon
Chicago, July 16 - UBS AG, London Branch priced $5.21 million of 0% trigger phoenix autocallable optimization securities due July 18, 2023 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its 65% coupon barrier level on any quarterly observation date, the notes will pay an annualized contingent coupon of 8% for that quarter.
If each index closes at or above its initial level on any observation date after one year, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called the payout at maturity will be par plus the contingent coupon unless either index finishes below its 50% trigger level, in which case investors will be exposed to any losses of the least performing index.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $5,214,000
|
| Maturity: | July 18, 2023
|
| Coupon: | % per year, payable quarterly if both indexes close at or above trigger price on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if both indexes finish at or above trigger level; otherwise, full exposure to decline of least performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on a quarterly observation date after one year
|
| Initial index levels: | 1,036.52 | for Russell and 1,680.19 for S&P
|
| Coupon barrier levels: | 673.74 for Russell and 840.1 for S&P; 65% of initial levels
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| Trigger levels: | 518.26 for Russell and 1,092.12 for S&P; 50% of initial levels
|
| Pricing date: | July 12
|
| Settlement date: | July 17
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 3.5%
|
| Cusip: | 90271L288
|
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