By Wendy Van Sickle
Columbus, Ohio, June 9 – UBS AG, London Branch priced $10 million of buffered contingent income autocallable securities with memory coupon and downside leverage due June 10, 2024 linked to the Invesco QQQ Trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 12.75% if the ETF closes at or above its 87% coupon barrier on the corresponding observation date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any monthly determination date.
If the final share price is greater than or equal to the downside threshold level, 87% of initial level, the payout at maturity will be par plus all unpaid coupons.
Otherwise, investors will receive shares of the ETF equal to the principal amount divided by the downside threshold level.
UBS Securities LLC is the agent and Morgan Stanley Wealth Management is the dealer.
| Issuer: | UBS AG, London Branch
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| Issue: | Buffered contingent income autocallable securities with memory coupon and downside leverage
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| Underlying fund: | Invesco QQQ Trust, series 1
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| Amount: | $10 million
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| Maturity: | June 10, 2024
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| Coupon: | 12.75% per year, payable monthly if shares close at or above coupon barrier level on the relevant observation date; coupon payment events will automatically include any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless ETF finishes below downside threshold level, in which case shares of ETF equal to the principal amount divided by the downside threshold level
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| Call: | At par plus contingent coupon if shares close at or above initial share price on any monthly determination date
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| Initial share price: | $352.01
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| Coupon barrier: | $299.21; 87% of initial share price
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| Downside threshold: | $299.21; 87% of initial share price
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| Strike date: | June 1
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| Pricing date: | June 2
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| Settlement date: | June 7
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| Agent: | UBS Securities LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.1%
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| Cusip: | 90279GNB1
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