UBS plans autocallable contingent income notes linked to Wells Fargo

By Susanna Moon

Chicago, Aug. 16 - UBS AG, London Branch plans to price contingent income autocallable securities due Aug. 28, 2015 linked to Wells Fargo & Co. shares, according to an FWP filing with the Securities and Exchange Commission.

If the stock closes at or above the 75% downside threshold level on a quarterly determination date, investors will receive a contingent payment at an annualized rate of 9.65% to 11.65% for that quarter. The exact rate will be set at pricing.

If the stock closes at or above the initial price on any of the first 11 quarterly determination dates, the notes will be called at par plus the contingent payment.

If the notes are not called and the shares finish at or above the downside threshold level, the payout at maturity will be par plus the contingent payment.

Otherwise, investors will receive a number of shares of Wells Fargo stock equal to $10.00 divided by the initial share price.

UBS Securities LLC is the agent with distribution through Morgan Stanley Smith Barney LLC.

The notes will price on Aug. 24 and settle on Aug. 29.

The Cusip number is 90269V199.

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