By Kiku Steinfeld
Chicago, Nov. 8 – UBS AG London Branch priced $5 million of contingent income autocallable securities due Oct. 11, 2024 linked to the performance of Repligen Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.3% if the stock closes at or above its coupon barrier, 75% of its initial level, on the determination date for that period.
The notes will be called at par plus the contingent coupon if the stock closes above its initial level on any quarterly redemption date.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 75% downside threshold, in which case investors will be fully exposed to the stock’s decline, payable in cash.
UBS Securities LLC is the agent. Morgan Stanley Wealth Management is the distributor.
| Issuer: | UBS AG London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Repligen Corp.
|
| Amount: | $5 million
|
| Maturity: | Oct. 11, 2024
|
| Coupon: | 12.3% per year, payable quarterly if the stock closes at or above coupon barrier on determination date for that period
|
| Price: | Par of $10
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus the final coupon; otherwise, full exposure to decline, payable cash
|
| Call: | Par plus the contingent coupon if the stock closes above its initial level on any quarterly redemption date
|
| Initial level: | $258.78
|
| Coupon barrier level: | $194.09; 75% of initial level
|
| Downside threshold: | $194.09; 75% of initial level
|
| Pricing date: | Oct. 8
|
| Settlement date: | Oct. 14
|
| Agent: | UBS Securities LLC
|
| Distributor: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 90285B516
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
