New Issue: UBS sells $2.34 million trigger autocallable memory yield notes on index, ETF

By William Gullotti

Buffalo, N.Y., June 1 – UBS AG, London Branch priced $2.34 million of trigger autocallable contingent yield notes with memory interest due May 29, 2026 linked to the performance of the SPDR S&P Oil & Gas Exploration & Production ETF and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a semiannual coupon at the rate of 17.5% per year if each underlier closes at or above its coupon barrier, 70% of its initial level, on any related observation date. Previously unpaid coupons, if any, will be automatically included whenever a coupon payment is made.

The notes will be automatically called at par plus coupon and any unpaid coupons if each underlier closes at or above its initial level on any semiannual call observation date after one year.

If the notes are not called and the final level of each underlier is greater than or equal to the downside threshold level, 70% of the initial level, the payout at maturity will be par plus all unpaid coupons.

Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level.

UBS Securities LLC and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes with memory interest
Underlying assets:	SPDR S&P Oil & Gas Exploration & Production ETF, S&P 500 index
Amount:	$2,344,000
Maturity:	May 29, 2026
Coupon:	17.5% per year, paid semiannually, if each underlier closes at or above its coupon barrier on any related observation date; coupon payment events will automatically include any previously unpaid coupons
Price:	Par
Payout at maturity:	Par plus final coupon and any previously unpaid coupons if each underlier finishes at or above downside threshold; otherwise, 1% loss for each 1% decline of worst performer from initial level
Call:	Automatically at par plus coupon if each underlier closes at or above initial level on any semiannual call observation date after one year
Initial levels:	$125.50 for ETF, 4,145.58 for S&P
Coupon barrier levels:	$87.85 for ETF, 2,901.91 for S&P; 70% of initial levels
Downside thresholds:	$87.85 for ETF, 2,901.91 for S&P; 70% of initial levels
Pricing date:	May 23
Settlement date:	May 26
Agents:	UBS Securities LLC and UBS Investment Bank
Fees:	None
Cusip:	90279GJZ3

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