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UBS to price contingent income autocallables linked to three indexes
By Angela McDaniels
Tacoma, Wash., Nov. 4 – UBS AG, London Branch plans to price contingent income autocallable securities due Nov. 21, 2022 linked to the worst performing of the Euro Stoxx 50 index, the Nikkei 225 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 10% if each index closes at or above its coupon barrier level, 75% of its initial index level, on the determination date for that quarter.
The notes will be automatically called at par of $10 plus the contingent coupon if each index closes at or above its initial index level on any quarterly determination date other than the final one.
If each index finishes at or above its downside threshold level, 55% of its initial index level, the payout at maturity will be par plus the final contingent coupon, if applicable. If the final level of any index is less than its downside threshold level, investors will be fully exposed to the decline of the least-performing index.
UBS Securities LLC is the agent. Distribution is through Morgan Stanley Smith Barney LLC.
The notes will price Nov. 16.
The Cusip number is 90275G657.
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