New York, June 2 – UBS AG, London Branch priced $430,000 of trigger phoenix autocallable optimization securities due June 6, 2023 linked to the common stock of Helmerich & Payne, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Helmerich stock closes at or above the trigger price – 70% of the initial share price – on a half yearly observation date, the issuer will pay a contingent coupon for that half year at the rate of 19.98%. Otherwise, no coupon will be paid that half year.
If the shares close at or above the initial price on a half yearly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Helmerich shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Helmerich & Payne, Inc. (NYSE: HP)
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| Amount: | $430,000
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| Maturity: | June 6, 2023
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| Coupon: | 19.98%, payable half yearly if stock closes at or above trigger price on observation date for that half year
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if Helmerich shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | Automatically at par plus contingent coupon if Helmerich shares close at or above initial price on a half yearly observation date
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| Initial share price: | $30.06
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| Trigger price: | $21.04, 70% of initial price
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| Pricing date: | June 1
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| Settlement date: | June 3
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| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.75%
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| Cusip: | 90287H321
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