By Kiku Steinfeld
Chicago, Sept. 7 – UBS AG, London Branch priced $2.6 million of trigger autocallable contingent yield notes due Aug. 31, 2023 linked to the common stocks of Apple Inc. and Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8.25% per year if the shares of each stock close at or above the coupon barrier level, 75% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par if the shares of each stock close at or above the initial share price on any observation date other than the final one.
The payout at maturity will be par unless any stock finishes below its downside threshold level, 75% of its initial price, in which case investors will receive a fixed number of shares of the worst performer equal to its equity ratio divided by the initial price or, at the issuer’s option, the cash equivalent.
UBS Securities LLC 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 stocks: | Apple Inc. and Amazon.com, Inc.
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| Amount: | $2,600,000
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| Maturity: | Aug. 31, 2023
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| Contingent coupon: | 8.25%, payable quarterly if each stock closes at or above coupon barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below its downside threshold level, in which case full exposure to losses of worst performer, payable in either shares or cash
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| Call: | At par if each stock closes at or above initial level on any quarterly observation date other than the final one
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| Initial prices: | $148.60 for Apple and $3,349.63 for Amazon
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| Coupon barriers: | $111.45 for Apple and $2,512.22 for Amazon; 75% of initial levels
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| Downside thresholds: | $111.45 for Apple and $2,512.22 for Amazon; 75% of initial levels
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| Equity ratios: | 6.7295 for Apple and 0.2985 for Amazon
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| Pricing date: | Aug. 27
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| Settlement date: | Aug. 31
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 2.35%
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| Cusip: | 90279DFD3
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