By Wendy Van Sickle
Columbus, Ohio, May 26 – UBS AG, London Branch priced $4.13 million of trigger autocallable contingent yield notes due May 24, 2028 linked to the lesser performing of the Energy Select Sector SPDR fund and the Dow Jones Industrial Average ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.1% if each ETF closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.
The notes will be redeemed at par plus the coupon if each ETF closes at or above its initial level on any quarterly observation date after six months.
If each ETF finishes at or above its 60% downside threshold, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable contingent yield notes
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Underlying ETFs: | Energy Select Sector SPDR fund, Dow Jones Industrial Average ETF Trust
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Amount: | $4.13 million
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Maturity: | May 24, 2028
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Coupon: | 12.1% annual rate, payable quarterly if each ETF closes at or above coupon barrier on observation date
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Price: | Par of $10
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Payout at maturity: | Par plus the coupon if each ETF finishes at or above downside threshold; otherwise, 1% loss for each 1% decline of the worst performer from initial level
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Call: | At par plus the coupon if each ETF closes at or above initial level on any quarterly observation date after six months
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Initial levels: | $334.19 for Dow Jones ETF, $79.64 for Energy fund
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Coupon barriers: | $200.51 for Dow Jones ETF, $47.78 for Energy fund; 60% of initial levels
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Downside thresholds: | $200.51 for Dow Jones ETF, $47.78 for Energy fund; 60% of initial levels
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Pricing date: | May 22
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Settlement date: | May 25
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 2.25%
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Cusip: | 90289X530
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