New York, July 21 – UBS AG, London Branch priced $1 million of trigger autocallable contingent yield notes due July 19, 2022 linked to the lesser performing of the SPDR S&P Biotech exchange-traded fund and the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.025% if both ETFs close at or above their coupon barriers, 60% of their initial levels, on the observation date for that quarter.
The notes will be called at par if both ETFs close at or above their initial levels on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless either ETF finishes below the downside threshold level, 60% of the initial level, in which case investors will lose 1% for every 1% decline of the worse performing ETF.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying ETFs: | SPDR S&P Biotech exchange-traded fund and Financial Select Sector SPDR fund
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| Amount: | $1 million
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| Maturity: | July 19, 2022
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| Coupon: | 8.025%, payable quarterly if both ETFs close at or above coupon barriers on quarterly observation date
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| Price: | Par of $1,000
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| Call: | At par if both ETFs close at or above their initial levels on any quarterly observation date after six months
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| Payout at maturity: | Par plus final coupon unless either ETF finishes below downside threshold level, in which case 1% loss for every 1% decline of the worse performing ETF
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| Initial levels: | $79.07 for SPDR Biotech, $24.92 for Financial Select
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| Coupon barriers/downside thresholds: | $47.44 for SPDR Biotech, $14.95 for Financial Select; 60% of initial levels
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| Pricing date: | July 14
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| Settlement date: | July 19
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| Underwriters: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 2.85%
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| Cusip: | 90270KLK3
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