New York, May 30 – UBS AG, London Branch priced $12.44 million of trigger autocallable contingent yield notes due May 31, 2019 linked to the ICE-traded Brent Crude Oil futures contract, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 12.44% if Brent futures closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes will be automatically called at par if the futures contract closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless Brent crude finishes below its75% downside threshold, in which case investors will lose 1% for each 1% decline.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying asset: | ICE-traded Brent Crude Oil futures contract
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| Amount: | $12,441,000
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| Maturity: | May 31, 2019
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| Coupon: | 13.53% annualized, payable quarterly if contract closes at or above its 75% coupon barrier on the observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If contract finishes at or above trigger level, par; otherwise, 1% loss per 1% decline
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| Call: | At par if contract closes at or above its initial level on any quarterly observation date
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| Initial level: | $76.44
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| Downside threshold: | $57.33, 75% of initial level
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| Pricing date: | May 25
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| Settlement date: | May 31
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 1.5%
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| Cusip: | 90281A397
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