By Wendy Van Sickle
Columbus, Ohio, March 2 – UBS AG, London Branch priced $10 million of buffered contingent income autocallable securities due Feb. 16, 2022 linked to the American Depositary Receipts of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annual rate of 15.25% if the stock finishes above its 80% downside threshold on a related determination date. Previously unpaid coupons will also be paid.
The notes will be called at par of $10 plus any contingent coupons due if the shares close at or above the initial share price on any monthly determination date, other than the final determination date.
If the final share price is greater than or equal to the 80% downside threshold level, the payout at maturity will be par plus any final contingent coupons. Otherwise, investors will receive 4.6907shares of Alibaba and any fractional shares will be paid in cash.
UBS Securities LLC is the agent and Morgan Stanley Wealth Management is the dealer.
Issuer: | UBS AG, London Branch
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Issue: | Contingent income autocallable securities
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Underlying stock: | Alibaba Group Holding Ltd.
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Amount: | $10 million
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Maturity: | Feb. 16, 2022
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Coupon: | 15.25% per year, payable monthly if shares close at or above downside threshold level on the observation date for that period; previously unpaid coupons will also be paid
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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 any final contingent coupon; otherwise, 4.6907 shares of Alibaba and any fractional shares paid in cash
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Call: | At par plus contingent coupon if shares close at or above initial share price on any monthly determination date, other than final determination date
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Initial share price: | $266.49
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Downside threshold: | $213.19, 80% of initial share price
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Pricing date: | Feb. 11
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Settlement date: | Feb. 17
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Agent: | UBS Securities LLC
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 0.2%
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Cusip: | 90276BRE5
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