By William Gullotti
Buffalo, N.Y., July 7 – UBS AG, London Branch priced $4 million of contingent income autocallable securities with daily coupon observation due July 3, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annual rate of 8.3% if the index closes at or above its 75% coupon barrier on every trading day during the corresponding observation period.
The notes will be called at par plus any contingent coupon otherwise due if the index closes at or above its initial level on any quarterly determination date after six months.
If the final level is greater than or equal to the downside threshold level, 75% of initial level, the payout at maturity will be par plus any final contingent coupon due.
Otherwise, investors will be fully exposed to the decline of the index 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 daily coupon observation
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| Underlying index: | S&P 500 index
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| Amount: | $4 million
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| Maturity: | July 3, 2025
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| Coupon: | 8.3% per year, payable quarterly if index closes at or above coupon barrier level on each trading day during the corresponding observation period
|
| Price: | Par
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| Payout at maturity: | Par plus any final coupon due unless index finishes below downside threshold level, in which case full exposure to index decline
|
| Call: | At par plus any coupon due if index closes at or above initial level on any quarterly determination date after six months
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| Initial level: | 3,785.38
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| Coupon barrier: | 2,839.04; 75% of initial level
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| Downside threshold: | 2,839.04; 75% of initial level
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agent: | UBS Securities LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
|
| Cusip: | 90279FLA7
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