UBS to price contingent income autocallable notes on Schlumberger

By Sarah Lizee

Olympia, Wash., April 15 – UBS AG, London Branch plans to price contingent income autocallable securities due April 23, 2020 linked to the common stock of Schlumberger NV, according to a 424B2 filing with the Securities and Exchange Commission.

If Schlumberger shares close at or above the downside threshold level, 70% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 9%.

The notes will be called at par of $10 plus the contingent coupon if Schlumberger shares close at or above the initial share price on any quarterly determination date other than the final determination date.

If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will be fully exposed to the loss.

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

The notes are expected to price April 18.

The Cusip number is 90281C708.

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