By Wendy Van Sickle
Columbus, Ohio, May 9 – UBS AG, London Branch priced $20 million of buffered contingent income autocallable securities with memory coupon and downside leverage due May 5, 2023 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund closes at or above the downside threshold level, 80% of the initial share price, on the observation date for that month, the notes will pay a contingent payment that month at an annualized rate of 10.05%, plus any previously unpaid coupons.
The notes will be called at par plus the contingent coupon if the fund close at or above the initial share price on any monthly determination date other than the final determination date.
If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will receive 3.034 shares of the fund.
UBS Securities LLC is the agent and Morgan Stanley Wealth Management is the dealer.
| Issuer: | UBS AG, London Branch
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| Issue: | Buffered contingent income autocallable securities with memory coupon and downside leverage
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| Underlying fund: | SPDR S&P 500 ETF Trust
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| Amount: | $20 million
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| Maturity: | May 5, 2023
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| Coupon: | 10.05% per year, payable monthly if fund close at or above downside threshold level on the observation date for that month, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 3.034 shares of the fund
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| Call: | At par plus contingent coupon if fund close at or above initial share price on any monthly determination date other than final determination date
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| Initial share price: | $412.00
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| Downside threshold: | $329.60, 80% of initial share price
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| Pricing date: | April 29
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| Settlement date: | May 5
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| Agent: | UBS Securities LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.2%
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| Cusip: | 90279FBD2
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