By Sarah Lizee
Olympia, Wash., April 23 – UBS AG, London Branch priced $10 million of 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 Wealth Management is handling distribution.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Schlumberger NV
|
| Amount: | $9,999,760
|
| Maturity: | April 23, 2020
|
| Coupon: | 9% per year, payable quarterly if shares close at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, full exposure to loss
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly determination date other than final determination date
|
| Initial share price: | $45.56
|
| Downside threshold: | $31.89, 70% of initial share price
|
| Pricing date: | April 18
|
| Settlement date: | April 24
|
| Agent: | UBS Securities LLC
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 1.75%
|
| Cusip: | 90281C708
|
© 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.
