By William Gullotti
Buffalo, N.Y., July 6 – UBS AG, London Branch priced $10 million of airbag autocallable contingent yield notes with memory interest due July 5, 2024 linked to the stock performance of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly at an annualized rate of 21.45% if the stock closes at or above its coupon barrier, 70% of the initial level, on the related observation date, plus any previously unpaid coupons.
The notes will be called automatically at par plus the coupon if the shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, 70% 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.
UBS Investment Bank and UBS Financial Services Inc. are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Airbag autocallable contingent yield notes with memory interest
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| Underlying stock: | Tesla, Inc.
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| Amount: | $10 million
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| Maturity: | July 5, 2024
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| Coupon: | 21.45%, payable quarterly if stock closes at or above coupon barrier on related observation date, plus any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless final share price is less than conversion price, in which case 5.5479 shares
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| Call: | Automatically at par plus coupon if the shares close at or above initial share price on any quarterly observation date
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| Initial share price: | $257.50
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| Coupon barrier: | $180.25; 70% of initial share price
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| Conversion price: | $180.25; 70% of initial share price
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| Strike date: | June 29
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agents: | UBS Investment Bank and UBS Financial Services Inc.
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| Fees: | 0.1%
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| Cusip: | 90289Y140
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