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UBS plans contingent income autocallable notes linked to First Solar
By Marisa Wong
Madison, Wis., Oct. 7 – UBS AG, London Branch plans to price contingent income autocallable securities due Oct. 13, 2017 linked to First Solar, Inc. shares, according to an FWP with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 13.9% per year if First Solar stock closes at or above the 70% downside threshold level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial price on any of the first 11 determination dates.
If the notes are not called and First Solar stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent payment.
Otherwise, investors will receive a number of shares of First Solar stock equal to $10 divided by the initial share price or, at the issuer’s option, the cash value of those shares.
UBS Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
The notes will price on Oct. 10 and settle on Oct. 16.
The Cusip number is 90274B303.
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