UBS plans airbag performance notes linked to SPDR S&P 500 fund

By Susanna Moon

Chicago, June 1 - UBS AG, London Branch plans to price 0% airbag performance notes due June 30, 2022 linked to the SPDR S&P 500 exchange-traded fund trust, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.8 times to 2 times any fund gain.

If the fund finishes at or above the 50% conversion level, the payout will be par.

If the shares end below the conversion price, the payout will be a number of trust shares equal to par divided by the conversion price, which will be 50% of the initial share price.

UBS Financial Services Inc. and UBS Investment Bank are the underwriters.

The notes will price on June 26 and settle on June 29.

The Cusip number is 90268U341.

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