By Wendy Van Sickle
Columbus, Ohio, Oct. 26 – UBS AG London Branch priced $5.1million of contingent income autocallable securities due Oct. 24, 2024 linked to the performance of Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13.3% if the stock closes at or above its coupon barrier, 65% of its initial level, on the determination date for that period.
The notes will be called at par plus the contingent coupon if the stock closes above its initial level on any quarterly redemption date.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 65% downside threshold, in which case investors will be fully exposed to the stock’s decline from its initial level.
UBS Securities LLC is the agent. Morgan Stanley Wealth Management is the distributor.
| Issuer: | UBS AG London Branch
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Wynn Resorts, Ltd.
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| Amount: | $5.1 million
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| Maturity: | Oct. 24, 2024
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| Coupon: | 13.3% per year, payable quarterly if the stock closes at or above coupon barrier on determination date for that period
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| Price: | Par of $10
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| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus the final coupon; otherwise, full exposure to decline from initial level
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| Call: | Par plus the contingent coupon if the stock closes above its initial level on any quarterly redemption date
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| Initial level: | $90.94
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| Coupon barrier level: | $59.11; 65% of initial level
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| Downside threshold: | $59.11; 65% of initial level
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| Pricing date: | Oct. 20
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| Settlement date: | Oct. 25
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| Agent: | UBS Securities LLC
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| Distributor: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 90285B581
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