By Wendy Van Sickle
Columbus, Ohio, March 17 – UBS AG, London Branch priced $2 million of contingent income autocallable securities due March 21, 2018 linked to the S&P 500 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 8.7% if the index closes at or above its downside threshold level, 80% of its initial index level, on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par plus the final contingent coupon unless the index finishes below its downside threshold, in which case investors will be fully exposed to the loss in the index.
UBS Securities LLC is the agent with distribution through Morgan Stanley Wealth Management.
| Issuer: | UBS AG, London Branch
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| Issue: | Contingent income autocallable securities
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| Underlying index: | S&P 500
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| Amount: | $2 million
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| Maturity: | March 21, 2018
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| Coupon: | 8.7% per year, payable quarterly if index closes at or above its downside threshold level on determination date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If index finishes at or above downside threshold level, par plus final contingent coupon; if final level of index is less than downside threshold level, full exposure to decline of index
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| Call: | Automatically at par plus contingent coupon if index closes at or above initial level on any determination date other than final one
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| Initial index level: | 2,027.22
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| Downside threshold: | 1,621.78; 80% of initial index level
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| Pricing date: | March 16
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| Settlement date: | March 21
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| Agent: | UBS Securities LLC
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 2%
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| Cusip: | 90275L789
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