By Taylor Fox
New York, Nov. 23 – UBS AG, London Branch priced $157,000 of trigger return optimization securities due Nov. 8, 2022 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund closes at or above the initial price, the payout at maturity will be par plus two times any gain capped at par plus 35.32%.
If the fund declines but finishes above 67% of its initial level, investors will receive par.
Otherwise, investors will lose 1% for each 1% decline from the fund’s initial level.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger return optimization securities
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| Underlying fund: | VanEck Vectors Gold Miners ETF
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| Amount: | $157,000
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| Maturity: | Nov. 8, 2022
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| Coupon: | 0%
|
| Price: | Par of $10
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| Payout at maturity: | Par plus two times any gain, capped at 35.32%; par if fund declines but not more than 67% of initial level; otherwise, exposure to any losses
|
| Initial share price: | $39.37
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| Trigger level: | $26.38, 67% of initial level
|
| Pricing date: | Nov. 3
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| Settlement date: | Nov. 5
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 90282E216
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