By William Gullotti
Buffalo, N.Y., Aug. 11 – UBS AG, London Branch priced $2.79 million of 11.85% airbag autocallable yield notes due Aug. 7, 2024 linked to the common stock of Blackstone Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called automatically at par 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, 85% 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 Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Airbag autocallable yield notes
|
| Underlying stock: | Blackstone Inc.
|
| Amount: | $2,793,000
|
| Maturity: | Aug. 7, 2024
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| Coupon: | 11.85%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than conversion price, in which case investors will receive 11.4338 shares per note
|
| Call: | Automatically at par if the shares close at or above initial share price on any quarterly observation date
|
| Initial share price: | $102.89
|
| Conversion price: | $87.46; 85% of initial share price
|
| Pricing date: | Aug. 2
|
| Settlement date: | Aug. 7
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 90289Y363
|
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