By William Gullotti
Buffalo, N.Y., July 19 – UBS AG, London Branch priced $1.62 million of trigger callable contingent yield notes due July 17, 2025 linked to the stock performance of Occidental Petroleum Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.7% if the stock’s closing level is at least 60% of its initial level on the corresponding observation date.
The notes will be callable at par plus any coupon otherwise due on any quarterly observation date after six months.
If the notes are not called and the stock finishes at or above its 60% trigger level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the stock’s decline from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying stock: | Occidental Petroleum Corp.
|
| Amount: | $1,616,000
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| Maturity: | July 17, 2025
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| Coupon: | 11.7% per year, payable quarterly if the stock closes at or above its coupon barrier level on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless the stock finishes below its trigger level, in which case investors will be fully exposed to the stock’s decline from initial level
|
| Call option: | At par plus any coupon otherwise due on any quarterly observation date after six months
|
| Initial level: | $61.32
|
| Coupon barrier level: | $36.79; 60% of initial level
|
| Trigger level: | $36.79; 60% of initial level
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| Pricing date: | July 12
|
| Settlement date: | July 17
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.75%
|
| Cusip: | 90279GYL7
|
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