By Jennifer Chiou
New York, Sept. 30 – UBS AG, London Branch priced $21,327,120 of trigger phoenix autocallable optimization securities due Sept. 30, 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.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each index closes at or above its coupon barrier level, 64.68% of its initial level, on an observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called and each index finishes at or above its 50% trigger level, the payout at maturity will be par.
Otherwise, investors will be exposed to any losses of the worst-performing index.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Trigger phoenix autocallable optimization securities
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Underlying indexes: | MSCI Emerging Markets and Russell 2000
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Amount: | $21,327,120
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Maturity: | Sept. 30, 2024
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Coupon: | 8% annualized for each quarter that each index closes at or above coupon barrier level on quarterly observation date
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Price: | Par
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Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, full exposure to losses of worst-performing index
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Call: | At par if each index closes at or above initial level on any quarterly observation date after one year
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Initial levels: | 1,023.91 for MSCI EM and 1,119.331 for Russell
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Coupon barriers: | 662.26 for MSCI EM and 723.983 for Russell; 64.68% of initial levels
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Trigger levels: | 511.96 for MSCI EM and 559.666 for Russell; 50% of initial levels
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Pricing date: | Sept. 26
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Settlement date: | Sept. 30
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 3.5%
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Cusip: | 90273L690
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