UBS plans three-year contingent income autocallables on Blackstone

By Toni Weeks

San Luis Obispo, Calif., June 4 – UBS AG, London Branch plans to price contingent income autocallable securities due June 15, 2018 linked to the common units of Blackstone Group LP, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10.25% if Blackstone shares close at or above the barrier level, 80% of the initial share price, on the determination date for that quarter.

The notes will be called at par plus the contingent coupon if Blackstone shares close at or above the initial share price on any of the first 11 determination dates.

The payout at maturity will be par plus the final contingent coupon unless the stock finishes below the 80% barrier level, in which case investors will receive a number of Blackstone shares equal to $10 divided by the initial stock price or, at the issuer’s option, the cash value of those shares.

UBS Securities LLC is the agent.

The notes will price June 12 and settle June 17.

The Cusip number is 90274T742.

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