By Angela McDaniels
Tacoma, Wash., May 9 – UBS AG, London Branch priced $1.5 million of 0% capped buffered dual directional notes with downside leverage factor due May 22, 2020 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus the lesser of the ETF return and 7%.
If the ETF return is zero or negative and the decline from the initial level to the final level is 14.25% or less, the payout will be par plus the absolute value of the ETF return.
If the ETF return is negative and the decline is more than 14.25%, investors will lose 1.1662% for every 1% that the ETF declines beyond 14.25%.
J.P. Morgan Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Capped buffered dual directional notes with downside leverage factor
|
| Underlying ETF: | iShares MSCI Emerging Markets ETF
|
| Amount: | $1.5 million
|
| Maturity: | May 22, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF return is positive, par plus lesser of ETF return and 7%; if ETF return is zero or negative and decline from initial level to the final level is 14.25% or less, par plus absolute value of ETF return; otherwise, 1.1662% loss for every 1% that ETF declines beyond 14.25%
|
| Initial share price: | $42.46
|
| Final share price: | Average of ETF’s closing share prices on five trading days ending May 19, 2020
|
| Pricing date: | May 7
|
| Settlement date: | May 10
|
| Agents: | J.P. Morgan Securities LLC and UBS Investment Bank
|
| Fees: | 1%
|
| Cusip: | 90270KD55
|
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