By Wendy Van Sickle
Columbus, Ohio, March 17 – UBS AG, London Branch priced $2 million of contingent income autocallable securities due March 21, 2018 linked to the lesser performing of the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.5% if each index closes at or above its coupon barrier level, 70% of its initial index level, on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial index level on any determination date other than the final date.
The payout at maturity will be par plus the final contingent coupon unless either index finishes below its 70% downside threshold level, in which case investors will be fully exposed to any losses of the worse performing index.
UBS Securities LLC is the agent with distribution through Morgan Stanley Wealth Management.
| Issuer: | UBS AG, London Branch
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Euro Stoxx 50 and S&P 500
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| Amount: | $2 million
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| Maturity: | March 21, 2018
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| Coupon: | 9.5% per year, payable quarterly if each index closes at or above its downside threshold level on determination date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above downside threshold level, par plus final contingent coupon; if final level of either index is less than downside threshold level, full exposure to decline of lesser-performing index
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any determination date other than final one
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| Initial index levels: | 3,062.05 for Euro Stoxx 50 and 2,027.22 for S&P 500
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| Downside thresholds: | 2,143.44 for Euro Stoxx 50 and 1,419.05 for S&P 500; 70% of initial index levels
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| Pricing date: | March 16
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| Settlement date: | March 21
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| Agent: | UBS Securities LLC
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 2%
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| Cusip: | 90275L797
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