By Kiku Steinfeld
Chicago, July 26 – UBS AG, London Branch priced $484,000 of trigger autocallable contingent yield notes due May 31, 2024 linked to the common stock of Freeport-McMoRan Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 15.5% if the stock closes at or above its coupon barrier level, 60% of its initial level, on the related quarterly observation date.
The notes will be called at par plus the coupon if the stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the stock finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the stock from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stock: | Freeport-McMoRan Inc.
|
| Amount: | $484,000
|
| Maturity: | May 31, 2024
|
| Coupon: | 15.5%, payable each quarter that stock closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par of $1,000
|
| Call: | At par plus coupon if stock closes at or above initial level on any quarterly observation date
|
| Payout at maturity: | Par unless stock finishes below downside threshold, in which case 1% loss for each 1% decline from initial level
|
| Initial level: | $42.72
|
| Downside threshold/coupon barrier: | $25.63, 60% of initial level
|
| Pricing date: | May 28
|
| Settlement date: | June 3
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90276BK28
|
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