UBS to price contingent income autocallable notes linked to MetLife

By Susanna Moon

Chicago, May 16 - UBS AG, London Branch plans to price contingent income autocallable securities due May 26, 2017 linked to MetLife, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

If MetLife stock closes at or above the 80% barrier level on a quarterly determination date, the notes will pay a contingent coupon at an annual rate of 8.5% for that quarter.

If the stock closes at or above the initial price on any of the first 11 determination dates, the notes will be redeemed at par of $10 plus the contingent payment.

If the notes are not called, the payout at maturity will be par plus the contingent payment unless the stock finishes below the barrier level, in which case the payout will be a number of MetLife shares equal to $10 divided by the initial share price or, at the issuer's option, the cash equivalent.

UBS Securities LLC is the agent with Morgan Stanley Smith Barney LLC handling distribution.

The notes will price on May 23.

The Cusip number is 90272X489.

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