By William Gullotti
Buffalo, N.Y., June 13 – UBS AG, London Branch priced $1.2 million of 0% buffer absolute return notes due June 7, 2024 linked to the relevant nearby wheat futures contracts, according to an 424B2 filing with the Securities and Exchange Commission.
If the final level is greater than the initial level, the payout at maturity will be par.
If the commodity declines but finishes at or above buffer level, 70% of the initial level, the payout will be par plus the absolute value of the commodity’s return. Otherwise, investors will lose 1% for every 1% that the commodity declines beyond 30%.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Buffer absolute return notes
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| Underlying commodity: | Wheat futures contracts
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| Amount: | $1.2 million
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| Maturity: | June 7, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level is greater than initial level, par; if final level is less than or equal to initial level but greater than or equal to buffer level, par plus absolute value of commodity’s return; otherwise, 1% loss for every 1% that commodity declines beyond 30%
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| Initial level: | $10.875
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| Buffer level: | $7.6125; 70% of initial level
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| Pricing date: | May 31
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| Settlement date: | June 7
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90279FFA4
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