By Kiku Steinfeld
Chicago, Aug. 3 – UBS AG, London Branch priced $5 million of 11.3% airbag autocallable yield notes due July 28, 2021 linked to the common stock of Bank of America Corp., according to a 424B2 filed with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called automatically at par if the shares close at or above the initial share price on any monthly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, 80% of the initial share price, in which case the payout will be a number of shares equal to $1,000 divided by the conversion price.
The agents are UBS Financial Services Inc. and UBS Investment Bank.
Issuer: | UBS AG, London Branch
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Issue: | Airbag autocallable yield notes
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Underlying index: | Bank of America Corp.
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Amount: | $5 million
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Maturity: | July 28, 2021
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Coupon: | 11.3%, payable monthly
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Price: | Par of $10
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Payout at maturity: | Par unless the final share price is less than the conversion price, 80% of the initial share price, in which case the payout will be 50.9424 BofA shares
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Call: | Automatically at par if the shares close at or above the initial share price on any monthly observation date
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Initial level: | $24.54
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Conversion level: | $19.63, 80% of initial level
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Pricing date: | July 24
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Settlement date: | July 28
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Agent: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 0.25%
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Cusip: | 90281K742
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