By William Gullotti
Buffalo, N.Y., June 20 – UBS AG, London Branch priced $1.36 million of trigger callable contingent yield notes due June 18, 2025 linked to the VanEck Vectors Gold Miners ETF, 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% if the ETF’s closing level is at least 71.7% of its initial level on the relevant observation date.
The notes will be callable at par plus any coupon due on any quarterly observation date.
If the notes are not called and the ETF finishes at or above its 71.7% trigger level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will receive a number of shares per note equal to $1,000 divided by the ETF’s initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger callable contingent yield notes
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Underlying fund: | VanEck Vectors Gold Miners ETF
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Amount: | $1.36 million
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Maturity: | June 18, 2025
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Coupon: | 15% per year, payable quarterly if the ETF closes at or above its coupon barrier level on the corresponding observation date
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Price: | Par
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Payout at maturity: | Par plus final coupon if the ETF finishes at or above trigger level; otherwise, receive 32.3729 shares per note
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Call option: | At par plus any coupon due on any quarterly observation date
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Initial level: | $30.89
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Coupon barrier level: | $22.15; 71.7% of initial level
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Trigger level: | $22.15; 71.7% of initial level
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Pricing date: | June 13
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Settlement date: | June 16
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.75%
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Cusip: | 90279GUB3
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