By Wendy Van Sickle
Columbus, Ohio, June 14 – UBS AG, London Branch priced $1.25 million of 0% trigger autocallable contingent yield notes due June 17, 2019 linked to the iShares U.S. Telecommunications exchange-traded fund, the SPDR S&P Bank exchange-traded fund and the Energy 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 7.6% if each ETF closes at or above its barrier, 65% of its initial level, on the observation date for that quarter.
The notes will be called at par if each ETF closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless any ETF finishes below the downside threshold level, 65% of the initial level, in which case investors will lose 1% for every 1% decline of the worst 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: iShares U.S. Telecommunications exchange-traded fund, SPDR S&P Bank exchange-traded fund and Energy Select Sector SPDR fund
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| Amount: | $1.25 million
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| Maturity: | June 17, 2019
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| Coupon: | 7.6%, payable quarterly if each ETF closes at or above barrier on quarterly observation date
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| Price: | Par of $10
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| Call: | At par if each ETF closes at or above its initial level on any quarterly observation date after six months
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| Payout at maturity: | Par plus final coupon unless any ETF finishes below downside threshold level, in which case 1% loss for every 1% decline of the worst performing ETF
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| Initial levels: | $33.88 for Telecom, $43.94 for Bank, $66.89 for Energy
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| Barrier/thresholds: | $22.02 for Telecom, $28.56 for Bank, $43.48 for Energy; 65% of initial levels
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| Pricing date: | June 12
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| Settlement date: | June 15
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| Underwriters: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 2.35%
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| Cusip: | 90270KKG3
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