By Wendy Van Sickle
Columbus, Ohio, May 26 – UBS AG, London Branch priced $1.55 million of buffer autocallable contingent yield notes due May 5, 2026 linked to the least performing of the SPDR S&P Regional Banking ETF and the SPDR S&P Metals & Mining ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 6.65% per year if each of the underlying funds close at or above the coupon barrier, 75% of the initial price, on the related observation date.
The notes will be automatically called at par if the shares of both funds close at or above their initial prices on any quarterly observation date after 12 months.
If the notes are not called and the final share price of both funds is greater than or equal to the 80% downside threshold levels, the payout at maturity will be par. Otherwise, investors will be exposed to the decline of the worst performer beyond the 20% buffer.
UBS Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Buffer autocallable contingent yield notes
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Underlying funds: | SPDR S&P Regional Banking ETF and SPDR S&P Metals & Mining ETF
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Amount: | $1.55 million
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Maturity: | May 5, 2026
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Contingent coupon: | 6.65% annual rate, payable monthly if each fund closes at or above coupon barrier on observation date for that period
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Price: | Par
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Payout at maturity: | Par unless worst performing fund finishes below downside threshold level, in which case 1% loss for each 1% decline of worst performer beyond 20% buffer
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Call: | Automatically at par if each fund closes at or above initial levels on any quarterly observation date after 12 months
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Initial levels: | $68.39 for Regional Banking, $40.46 for Metals
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Coupon barrier levels: | $51.29 for Regional Banking, $30.35 for Metals; 75% of initial levels
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Downside threshold levels: | $54.71 for Regional Banking, $32.37 for Metals; 80% of initial levels
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Pricing date: | April 30
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Settlement date: | May 5
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 4.25%
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Cusip: | 90276BB51
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