By Sarah Lizee
Olympia, Wash., June 9 – UBS AG, London Branch priced $14.09 million of contingent income autocallable securities due June 8, 2023 linked to the common stock of Goldman Sachs Group, 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 10.5% per year if the shares close at or above the coupon barrier, 60% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par of $10 if the shares close at or above the initial share price on any quarterly observation except the final one.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 60% of the initial share price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the stock.
UBS Securities LLC is the underwriter. Morgan Stanley Wealth Management is the dealer.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Goldman Sachs Group, Inc.
|
| Amount: | $14,088,600
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| Maturity: | June 8, 2023
|
| Contingent coupon: | 10.5%, payable quarterly if stock closes at or above coupon barrier level on related quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless stock finishes below downside threshold, in which case investors will be fully exposed to the decline of the stock
|
| Call: | Automatically at par if stock closes at or above initial price on any quarterly observation date except final one
|
| Initial price: | $217.92
|
| Coupon barrier: | $130.75, 60% of initial price
|
| Downside threshold: | $130.75, 60% of initial price
|
| Pricing date: | June 5
|
| Settlement date: | June 10
|
| Underwriter: | UBS Securities LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 90281K106
|
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