By Wendy Van Sickle
Columbus, Ohio, May 18 – UBS AG, London Branch priced $2.5 million of trigger autocallable contingent yield notes due May 16, 2019 linked to the SPDR S&P Biotech exchange-traded fund and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.2% if each fund closes at or above its coupon level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each fund closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless either fund finishes below the 70% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing fund.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying funds: | SPDR S&P Biotech exchange-traded fund and Energy Select Sector SPDR fund
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| Amount: | $2.5 million
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| Maturity: | May 16, 2019
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| Coupon: | 11.2%, payable quarterly if each fund closes at or above coupon barrier on observation date
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| Price: | Par of $10
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| Call: | At par plus contingent coupon if each fund closes at or above initial level on any quarterly observation date other than the final one
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| Payout at maturity: | Par unless either fund closes below 70% trigger level, in which case 1% loss for each 1% decline of worse performing fund
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| Initial levels: | $70.03 for Biotech, $67.75 for Energy Select
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| Coupon/trigger level: | $49.02 for Biotech, $47.43 for Energy Select, 70% of initial levels
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| Pricing date: | May 12
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| Settlement date: | May 17
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2.35%
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| Cusip: | 90270KJS9
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