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UBS plans two-year contingent income autocallables linked to S&P 500
By Susanna Moon
Chicago, March 3 – UBS AG, London Branch plans to price contingent income autocallable securities due March 21, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.7% if the index closes at or above its coupon barrier level, 80% of its initial index level, on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial index level on any determination date other than the final date.
The payout at maturity will be par plus the final contingent coupon unless the index finishes below its 80% downside threshold level, in which case investors will be fully exposed to any losses.
UBS Securities LLC is the agent with distribution through Morgan Stanley Smith Barney LLC.
The notes will price on March 16 and settle on March 21.
The Cusip number is 90275L789.
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