By Susanna Moon
Chicago, June 30 – UBS AG, London Branch priced $3.67 million of trigger phoenix autocallable optimization securities due June 30, 2025 linked to the worst performing 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 of 8% per year if each index closes at or above its coupon barrier level, 70% 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 price on any quarterly observation date after one year.
If each index finishes at or above the coupon barrier, the payout at maturity will be par plus the final contingent coupon.
If either index falls below the coupon barrier but each index finishes at or above the 50% trigger level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses of the worse performing index.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlyings: | Russell 2000 index and S&P 500 index
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| Amount: | $3,668,000
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| Maturity: | June 30, 2025
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| Coupon: | 6.6% per year if each index closes at or above its barrier level on any quarterly observation date
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above the coupon barrier, par plus the final contingent coupon; if either index falls below the coupon barrier but each index finishes at or above trigger level, par; otherwise, full exposure to any losses of worse performing index
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| Call: | At par if each index closes at or above its initial price on any quarterly observation date after one year
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| Initial levels: | 1,279.794 for Russell, 2,101.49 for S&P
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| Coupon barriers: | 70% of initial level
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| Trigger levels: | 50% of initial level
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| Pricing date: | June 26
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| Settlement date: | June 30
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| Agent: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 3.5%
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| Cusip: | 90274T825
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