By Wendy Van Sickle
Columbus, Ohio, Oct. 5 – UBS AG, London Branch priced $8.96 million of contingent income autocallable securities due Oct. 2, 2020 linked to Tesla Motors, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if the stock closes at or above the 65% downside threshold level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial level on any of the first 11 determination dates.
The payout at maturity will be par plus the final coupon unless the stock finishes below its downside threshold, in which case investors will lose 1% for each 1% decline of the stock.
UBS Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
Issuer: | UBS AG, London Branch
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Issue: | Contingent income autocallable securities
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Underlying stock: | Tesla Motors, Inc.
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Amount: | $8,961,280
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Maturity: | Oct. 2, 2020
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Coupon: | 7% per year, payable quarterly if stock closes at or above downside threshold level on determination date for that quarter
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Price: | Par
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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 decline
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Call: | At par plus contingent coupon if stock closes at or above initial level on any of first 11 determination dates
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Initial share price: | $341.10
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Downside threshold: | $221.72, 65% of initial share price
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Pricing date: | Sept. 29
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Settlement date: | Oct. 4
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Agent: | UBS Securities LLC with Morgan Stanley Wealth Management handling distribution
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Fees: | 2.5%
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Cusip: | 90280X323
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