By Wendy Van Sickle
Columbus, Ohio, June 2 – UBS AG, London Branch priced $2.77 million of trigger autocallable contingent yield notes due May 15, 2024 linked to the common shares of C3.ai, Inc. according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 15.85% per year if the shares close at or above the downside threshold level, 60% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par if shares close at or above 80% of the initial share price on any quarterly 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, the payout at maturity will be par. Otherwise, investors will be fully exposed to the loss.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying stock: | C3.ai, Inc.
|
Amount: | $2,772,000
|
Maturity: | May 15, 2024
|
Contingent coupon: | 15.85%, payable quarterly if stock closes at or above downside threshold on observation date for that quarter
|
Price: | Par
|
Payout at maturity: | Par unless stock finishes below downside threshold level, in which case full exposure to loss
|
Call: | At par if stock closes at or above initial level on any quarterly observation date after six months
|
Initial price: | $53.65
|
Call level: | $42.92, 80% of initial price
|
Downside threshold: | $32.19, 60% of initial price
|
Pricing date: | May 10
|
Settlement date: | May 13
|
Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
Fees: | 2.5%
|
Cusip: | 90276BE25
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.