By Sarah Lizee
Olympia, Wash., July 8 – UBS AG, London Branch priced $6.14 million of trigger autocallable contingent yield notes due June 29, 2023 linked to the common stock of Blackstone Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10% per year if the shares close at or above the coupon barrier, 55.5% of the initial share price, on the observation date for that period.
The notes will be automatically called at par of $10 if the shares close at or above the initial share price on any quarterly observation date after six months.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 55.5% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stock: | Blackstone Group Inc.
|
| Amount: | $6,138,500
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| Maturity: | June 29, 2023
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| Contingent coupon: | 10%, payable quarterly if stock closes at or above coupon barrier level on related observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless stock finishes below downside threshold, in which case 1% loss for each 1% decline from initial price
|
| Call: | Automatically at par if the shares close at or above the initial share price on any quarterly observation date after six months
|
| Initial price: | $54.35
|
| Coupon barrier: | $30.16, 55.5% of initial price
|
| Downside threshold: | $30.16, 55.5% of initial price
|
| Pricing date: | June 26
|
| Settlement date: | June 30
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90281K494
|
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