By Susanna Moon
Chicago, April 3 – UBS AG, London Branch priced $7 million of contingent income autocallable securities due March 21, 2019 linked to United States Steel Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13.25% if the underlying stock closes at or above its 60% coupon barrier on the determination date that quarter.
The notes will be called at par if the stock closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless the stock finishes below its 60% downside threshold, in which case investors will be fully exposed to any losses.
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 asset: | United States Steel Corp. (Symbol: X)
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| Amount: | $6,998,300
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| Maturity: | March 21, 2019
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| Coupon: | 13.25% annualized, payable quarterly if stock closes at or above 60% coupon barrier on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
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| Call: | At par if stock closes at or above initial level on any determination date other than the final date
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| Initial level: | $39.96
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| Downside threshold: | $23.98, 60% of initial 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 with Morgan Stanley Wealth Management as a distributor
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| Fees: | 1.25%
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| Cusip: | 90280Y636
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