New Issue: UBS sells $1.01 million trigger autocallable contingent yield notes with memory on ETFs

By Kiku Steinfeld

Chicago, June 21 – UBS AG, London Branch priced $1.01 million of trigger autocallable contingent yield notes with memory interest due June 13, 2024 linked to the SPDR S&P Regional Banking ETF, the iShares Russell 2000 ETF and the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon plus any previously unpaid coupons at an annual rate of 7.75% if each ETF closes at or above its coupon barrier, 75% of its initial level, on the observation date for that period.

The notes will be redeemed at par plus the coupon if all ETFs close above their initial levels on any quarterly observation date after six months.

The payout at maturity will be par unless any ETF finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing ETF from its initial level, payable in shares or cash at the option of the issuer.

UBS Securities LLC and UBS Financial Services Inc. are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes with memory interest
Underlying ETFs:	SPDR S&P Regional Banking ETF, the iShares Russell 2000 ETF and the SPDR S&P 500 ETF trust
Amount:	$1,012,000
Maturity:	June 13, 2024
Coupon:	7.75%, payable monthly plus any previously unpaid coupons if each ETF closes at or above coupon barrier on related observation date
Price:	Par
Call:	At par plus the coupon if all ETFs close above their initial levels on any quarterly observation date after six months
Payout at maturity:	Par if all ETFs finish above 70% of initial levels; otherwise, 1% loss for each 1% decline of the worst performing ETF from initial level, payable in shares or cash
Initial levels:	$232.89 for Russell, $70.93 for Banking, $422.28 for S&P 500
Coupon barriers:	$174.67 for Russell, $53.20 for Banking, $316.71 for S&P 500; 75% of initial levels
Downside thresholds:	$163.02 for Russell, $49.65 for Banking, $295.60 for S&P 500, 70% of initial levels
Equity ratios:	4.2939 for Russell, 14.0984 for Banking, 2.3681 for S&P 500
Pricing date:	June 8
Settlement date:	June 11
Agents:	UBS Securities LLC and UBS Financial Services Inc.
Fees:	0.25%
Cusip:	90276BN66

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