By Wendy Van Sickle
Columbus, Ohio, Aug. 17 – UBS AG London Branch priced $6 million of contingent income autocallable securities due Aug. 13, 2020 linked to the worst performing of the American depository receipts of Alibaba Group Holding Ltd. and the common shares of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.5% if each underlying asset closes at or above its 65% coupon barrier each day that quarter.
The notes will be called at par if each component closes at or above its initial level on any determination end date.
The payout at maturity will be par unless any underlying asset finishes below its 65% threshold level, in which case investors will be fully exposed to any losses of the worst performing stock.
UBS Securities LLC is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | UBS AG London Branch
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| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Alibaba Group Holding Ltd. and Facebook, Inc.
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| Amount: | $6 million
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| Maturity: | Aug. 13, 2020
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| Coupon: | 11.5% annualized, payable quarterly if each asset closes at or above its 65% coupon barrier each day that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each asset finishes at or above threshold level, par; otherwise, 1% loss for each 1% decline of worst performing stock
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| Call: | At par if each component closes at or above its initial level on any quarterly observation period end date
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| Initial levels: | $177.52 for Alibaba and $185.18 for Facebook
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| Threshold levels: | $115.39 for Alibaba and $120.37 for Facebook, 65% of initial levels
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| Pricing date: | Aug. 8
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| Settlement date: | Aug. 13
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| Underwriter: | UBS Securities LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 1.5%
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| Cusip: | 90281A744
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