By Kiku Steinfeld
Chicago, Aug. 20 – UBS AG, London Branch priced $27.15 million of contingent income autocallable securities due Aug. 10, 2023 linked to the common stock of Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10% per year if the shares close at or above the coupon barrier, 60% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par of $10 if the shares close at or above the initial share price on any quarterly observation date except the final one.
The payout at maturity will be par unless the stock finishes below its 60% downside threshold level, in which case investors will lose 1% for every 1% that the final share price is less than the initial share price.
UBS Securities LLC is the underwriter. Morgan Stanley Wealth Management is the dealer.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Wells Fargo & Co.
|
| Amount: | $27,147,400
|
| Maturity: | Aug. 10, 2023
|
| Contingent coupon: | 10%, payable quarterly if stock closes at or above coupon barrier level on related quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless stock finishes below downside threshold, in which case 1% loss for every 1% that final share price is less than initial share price, payable in cash
|
| Call: | Automatically at par if stock closes at or above initial price on any quarterly observation date other than final one
|
| Initial price: | $25.07
|
| Coupon barrier: | $15.04, 60% of initial price
|
| Downside threshold: | $15.04, 60% of initial price
|
| Pricing date: | Aug. 7
|
| Settlement date: | Aug. 12
|
| Underwriter: | UBS Securities LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 90281K791
|
|
|
© 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.
