By William Gullotti
Buffalo, N.Y., June 9 – UBS AG, London Branch priced $700,000 of trigger autocallable contingent yield notes due May 17, 2024 linked to the least performing of the common stock of Wayfair Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a coupon at the rate of 10% per year if the stock closes at or above its coupon barrier, 50% of its initial level, on any related observation date.
The notes will be automatically called at par plus coupon if the shares of the stock close at or above its call level, 90% of initial share price, on any monthly call observation date after six months.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 50% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price declines from its initial share price.
UBS Securities LLC 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 stock: | Wayfair Inc.
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Amount: | $700,000
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Maturity: | May 17, 2024
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Coupon: | 10% per year, paid monthly, if the stock closes at or above its coupon barrier on any related observation date
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Price: | Par
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Payout at maturity: | Par unless the stock finishes below downside threshold level, in which case 1% loss for each 1% decline from initial level
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Call: | Automatically at par plus coupon if the stock closes at or above the call level, 90% of initial level, on any monthly call observation date after six months
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Initial level: | $300.00
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Call threshold level: | $270.00; 90% of initial level
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Coupon barrier level: | $150.00; 50% of initial level
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Downside threshold: | $150.00; 50% of initial level
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Pricing date: | May 14
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Settlement date: | May 19
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 2.75%
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Cusip: | 90276BH97
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