By Angela McDaniels
Tacoma, Wash., June 30 – UBS AG, London Branch priced $7.81 million of trigger phoenix autocallable notes due June 28, 2024 linked to the worst performing of the MSCI Emerging Markets index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its coupon barrier, 70% of its initial level, on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the rate of 7.2% per year. Otherwise, no coupon will be paid that quarter.
Beginning one year after issuance, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly observation date.
If the notes are not called and each index finishes at or above its trigger level, 50% of its initial level, the payout at maturity will be par. Otherwise, investors will be exposed to the decline of the worst-performing index from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable notes
|
| Underlying indexes: | MSCI Emerging Markets and Russell 2000
|
| Amount: | $7,814,740
|
| Maturity: | June 28, 2024
|
| Coupon: | If each index closes at or above coupon barrier level on quarterly observation date, coupon paid that quarter at rate of 7.2% per year
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, full exposure to decline of worst-performing index from initial level
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly observation date beginning one year after issuance
|
| Initial levels: | 1,046.81 for MSCI EM and 1,180.709 for Russell 2000
|
| Coupon barriers: | 732.77 for MSCI EM and 826.496 for Russell 2000; 70% of initial levels
|
| Trigger levels: | 523.41 for MSCI EM and 590.355 for Russell 2000; 50% of initial levels
|
| Pricing date: | June 26
|
| Settlement date: | June 30
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 3.5%
|
| Cusip: | 90272X869
|
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