By Wendy Van Sickle
Columbus, Ohio, Aug. 6 – UBS AG, London Branch priced $10.29 million of contingent income autocallable securities due Aug. 2, 2024 linked to the common stock of Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annual rate of 8.5% if the stock finishes above its 75% coupon barrier on the corresponding observation date.
The notes will be automatically called at par of $10 plus the contingent coupon if the shares close at or above the initial share price on any quarterly determination date other than the first and final ones.
If the final share price is greater than or equal to the downside threshold level, 75% of initial level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will be exposed to the stock’s decline from its initial share price.
UBS Securities LLC is the agent and Morgan Stanley Wealth Management is the dealer.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
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| Underlying stock: | Wells Fargo & Co.
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| Amount: | $10,286,480
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| Maturity: | Aug. 2, 2024
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| Coupon: | 8.5% per year, payable quarterly if shares close at or above coupon barrier level on the relevant observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus the final coupon unless stock finishes below downside threshold level, in which case investors will be exposed to the stock’s decline from its initial share price
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly determination date other than the first and final
|
| Initial share price: | $45.94
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| Coupon barrier: | $34.46; 75% of initial share price
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| Downside threshold: | $34.46; 75% of initial share price
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| Pricing date: | July 30
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| Settlement date: | Aug. 4
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| Agent: | UBS Securities LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 90279B498
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