By William Gullotti
Buffalo, N.Y., July 2 – UBS AG, London Branch priced $3.37 million of trigger autocallable contingent yield notes due July 1, 2022 linked to the performance of ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at the rate of 7.25% per year if the ETF closes at or above its coupon barrier, 65% of its initial level, on any related observation date.
The notes will be automatically called at par if the shares of the ETF close at or above initial share price, on any quarterly call observation date.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 65% 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 fund: | ARK Innovation ETF
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Amount: | $3,365,000
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Maturity: | July 1, 2022
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Coupon: | 7.25% per year, paid quarterly, if the ETF closes at or above its coupon barrier on any related observation date
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Price: | Par of $10
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Payout at maturity: | Par unless the ETF 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 if the ETF closes at or above initial level, on any quarterly call observation date
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Initial levels: | $130.23
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Coupon barrier level: | $84.65; 65% of initial level
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Downside threshold: | $84.65; 65% of initial level
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Pricing date: | June 28
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Settlement date: | June 30
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 90279B258
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