UBS plans to price contingent income autocallable notes on Netflix

By Sarah Lizee

Olympia, Wash., July 16 – UBS AG, London Branch plans to price contingent income autocallable securities due July 20, 2023 linked to the common stock of Netflix, 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 10.75% per year if the shares close at or above the coupon barrier, 60% of the initial share price, on the observation date for that quarter.

The notes will be automatically called at par of $10 if the shares close at or above the initial share price on any quarterly observation except the final one.

If the notes are not called and the final share price is greater than or equal to the downside threshold level, 60% of the initial share price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the stock.

UBS Securities LLC is the underwriter. Morgan Stanley Wealth Management is the dealer.

The notes will price on July 17.

The Cusip number is 90281K601.

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