UBS eyes three-year contingent income autocallables on Analog Devices

By Devika Patel

Knoxville, Tenn., Oct. 2 – UBS AG plans to price contingent income autocallable securities due Oct. 9, 2020 linked to Analog Devices, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9% if the stock closes at or above its downside threshold level, 80% of its initial level, on the determination date for that quarter.

The notes will be called at par if the stock closes at or above its initial level on any of the first 11 quarterly determination date beginning on Jan. 8, 2018.

The payout at maturity will be par plus the coupon unless Analog Devices shares finish below the 80% downside threshold level, in which case investors will receive the principal amount divided by the initial price, then multiplied by the final price.

UBS Financial Services Inc. is the agent with Morgan Stanley Wealth Management as dealer.

The notes (Cusip: 90280X364) will price Oct. 6 and settle three business days after pricing.

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