By William Gullotti
Buffalo, N.Y., June 15 – UBS AG, London Branch priced $1 million of step down trigger autocallable notes due June 13, 2025 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an 8.3% annualized call premium if the index closes at or above call level on any quarterly observation date after one year. Call level starts at 100% of initial level and decreases by 3.75% per subsequent observation date.
The notes will be called at par plus the 24.9% final premium if the index finishes at or above the downside threshold level.
Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Step down trigger autocallable notes
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| Underlying index: | S&P 500 index
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| Amount: | $1 million
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| Maturity: | June 13, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 24.9% unless the index finishes below downside threshold level, in which case 1% loss for each 1% decline from initial level
|
| Call: | At par plus 8.3% annualized call premium if the index closes at or above call level on any quarterly observation after one year; call level starts at 100% of initial level and decreases by 3.75% per subsequent observation date
|
| Initial level: | 3,900.86
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| Downside thresholds: | 2,730.6; 70% of initial level
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| Pricing date: | June 10
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| Settlement date: | June 15
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 0.25%
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| Cusip: | 90279FGF2
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