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UBS plans contingent income autocallables on two stocks
By Sarah Lizee
Olympia, Wash., Nov. 27 – UBS AG, London Branch plans to price contingent income autocallable securities due March 3, 2022 linked to the common stocks of Delta Air Lines, Inc. and FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If the least performing shares close at or above the coupon barrier, 70% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 12.45%.
The notes will be called at par of $10 plus the contingent coupon if least performing shares close at or above the initial share price on any quarterly determination date other than the final determination date.
If the final share price of the least performing stock is greater than or equal to the downside threshold level, 55% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing stock is less than the initial share price.
UBS Securities LLC is the agent. Morgan Stanley Wealth Management is the dealer.
The notes will price on Nov. 29.
The Cusip number is 90281F420.
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