UBS plans to price contingent income autocallables tied to MetLife

By Toni Weeks

San Luis Obispo, Calif., June 20 – UBS AG, London Branch plans to price contingent income autocallable securities due June 30, 2017 linked to MetLife, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly payment at an annualized rate of 8.25% if MetLife stock closes at or above the 80% downside threshold level on the determination date for that quarter.

If the shares close at or above the initial level on any of the first 11 quarterly determination dates, the notes will be called at par plus the contingent coupon.

If the notes are not called and MetLife stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent payment.

Otherwise, investors will receive a number of shares of MetLife stock equal to $10 divided by the initial stock price or, at the issuer’s option, the cash value of those shares.

UBS Securities LLC will be the agent.

The notes (Cusip: 90272X885) will price June 27 and settle July 2.

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