UBS plans buffer autocallable contingent yield notes on two ETFs

By Sarah Lizee

Olympia, Wash., July 11 – UBS AG London Branch plans to price buffer autocallable contingent yield notes with memory interest due July 29, 2022 linked to the lesser performing of the SPDR S&P Biotech ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 9% if each asset closes at or above its 80% coupon barrier on the review date for that quarter, plus any previously unpaid coupons.

The notes will be called at par if each asset closes at or above 95% of its initial level on any monthly review date after six months.

The payout at maturity will be par unless either asset finishes below its 80% buffer level, in which case investors will be exposed to any losses of the worse performing asset beyond 20%.

UBS Securities LLC and UBS Investment Bank are the agents.

The notes will price on July 26.

The Cusip number is 90270KG29.

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