By William Gullotti
Buffalo, N.Y., Aug. 21 – UBS AG, London Branch priced $3.75 million of 0% bearish capped buffer gears due May 17, 2024 linked inversely to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index declines, investors will gain 3% for every 1% decline of the index, subject to a maximum return of par plus 29%.
If the index finishes flat or gains by no more than 8%, the payout will be par.
Otherwise, investors will lose 1% for each 1% gain of the index above the 108% threshold level, with losses capped at 92%.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Bearish capped buffer gears
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| Underlying index: | S&P 500 index
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| Amount: | $3.75 million
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| Maturity: | May 17, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If index declines, gain 3% for every 1% decline, capped at par plus 29%; par if index finishes flat or gains by up to 8%; otherwise, 1% loss for each 1% gain above threshold level, with losses capped at 92%
|
| Initial level: | 4,437.86
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| Threshold level: | 4,792.89; 108% of initial level
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| Pricing date: | Aug. 15
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| Settlement date: | Aug. 18
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.75%
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| Cusip: | 90289Y439
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