By Wendy Van Sickle
Columbus, Ohio, Feb. 24 – UBS AG, London Branch priced $2.03 million of contingent income autocallable securities due Feb. 22, 2019 linked to the common stock of Walt Disney Co., 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 stock closes at or above its coupon barrier level, 75% 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 stock closes at or above its initial index level on any of the first 11 determination dates.
The payout at maturity will be par plus the final contingent coupon unless the stock finishes below its 75% downside threshold level, in which case investors will be fully exposed to any losses.
UBS Securities LLC is the agent with distribution through Morgan Stanley Smith Barney LLC.
| Issuer: | UBS AG, London Branch
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Walt Disney Co. (Symbol: DIS)
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| Amount: | $2,028,000
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| Maturity: | Feb. 22, 2019
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| Coupon: | 8.7%, payable quarterly if stock at or above barrier level on review date for that quarter Price: | Par
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| Payout at maturity: | Par plus the contingent coupon unless the stock finishes below its downside threshold level, in which case investors will be fully exposed to any losses
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| Call: | At par if stock closes at or above its initial level on any of first 11 quarterly review dates
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| Initial price: | $95.01
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| Barrier/trigger level: | $71.26, 75% of initial price
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| Pricing date: | Feb. 19
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| Settlement date: | Feb. 24
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| Agent: | UBS Securities LLC
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| Distribution: | Morgan Stanley Smith Barney LLC
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| Fees: | 2.5%
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| Cusip: | 90275L706
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