By Toni Weeks
San Luis Obispo, Calif., Oct. 29 - UBS AG, London Branch priced $3.31 million of contingent income autocallable securities due Oct. 28, 2016 linked to the Euro Stoxx Banks 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 8% if the index closes at or above the 75% downside threshold level on a quarterly determination date.
The notes will be called at par plus the contingent coupon if the index closes at or above the initial level on any quarterly determination date.
The payout at maturity will be par plus the contingent coupon unless the index finishes below the 75% downside threshold level, in which case investors will be exposed to any losses.
UBS Securities LLC is the agent.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying index: | Euro Stoxx Banks
|
| Amount: | $3,309,300
|
| Maturity: | Oct. 28, 2016
|
| Coupon: | 8% per year if index closes at or above downside threshold level on quarterly review date; payable quarterly
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than or equal to downside threshold level, par plus contingent payment; otherwise, full exposure to losses
|
| Call: | At par plus contingent payment if index closes at or above initial level on quarterly determination date
|
| Initial level: | 137.88
|
| Downside threshold: | 103.41, 75% of initial level
|
| Pricing date: | Oct. 25
|
| Settlement date: | Oct. 30
|
| Agent: | UBS Securities LLC with Morgan Stanley Smith Barney LLC as dealer
|
| Fees: | 2.25%, all for selling concessions
|
| Cusip: | 90271R129
|
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