New Issue: UBS prices $584,000 trigger autocallable contingent yield notes on stocks

By Sarah Lizee

Olympia, Wash., July 22 – UBS AG, London Branch priced $584,000 of trigger autocallable contingent yield notes due July 20, 2023 tied to the common stocks of Bristol-Myers Squibb Co., Honeywell International Inc. and U.S. Bancorp, according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at the rate of 12.5% per year if the shares of each stock close at or above the coupon barrier level, 50% of the initial share price, on the observation date for that month.

After six months, the notes will be automatically called at par if the shares of each stock close at or above the initial share price on any quarterly observation date other than the final one.

If the notes are not called and the final share price of each stock is greater than or equal to the downside threshold level, 50% 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 of the least performing stock is less than the initial share price.

UBS Securities LLC and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes
Underlying stocks:	Bristol-Myers Squibb Co., Honeywell International Inc. and U.S. Bancorp
Amount:	$584,000
Maturity:	July 20, 2023
Contingent coupon:	12.5%, payable monthly if each stock closes at or above coupon barrier level on observation date for that month
Price:	Par
Payout at maturity:	Par unless either stock finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard stock from initial level
Call:	After six months, automatically at par if each stock closes at or above initial level on any quarterly observation date other than the final one
Initial price:	$60.39 for Bristol, $155.00 for Honeywell, $36.03 for U.S.
Coupon barrier:	$30.20 for Bristol, $77.50 for Honeywell, $18.02 for U.S.; 50% of initial levels
Downside threshold:	$30.20 for Bristol, $77.50 for Honeywell, $18.02 for U.S.; 50% of initial levels
Pricing date:	July 17
Settlement date:	July 22
Agents:	UBS Securities LLC and UBS Investment Bank
Fees:	3.5%
Cusip:	90276BEJ8

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