By Wendy Van Sickle
Columbus, Ohio, May 4 – UBS AG, London Branch priced $8.31 million of contingent income autocallable securities due May 2, 2019 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.9% if Apple stock closes at or above its downside threshold, 80% of its initial level, on the determination date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if Apple shares close above the initial level on any of the first 11 determination dates.
The payout at maturity will be par plus the final contingent coupon, unless Apple shares finish below the 80% downside threshold, in which case investors will be fully exposed to any losses.
UBS Securities LLC is the agent, and Morgan Stanley Wealth Management is a distributor.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent interest notes
|
| Underlying stock: | Apple Inc. (symbol: AAPL)
|
| Amount: | $8,307,110
|
| Maturity: | May 2, 2019
|
| Coupon: | 8.9% annually, payable quarterly if Apple closes at or above downside threshold level on review date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus final coupon unless Apple finishes below barrier value, in which case full exposure to decline
|
| Call: | At par plus contingent coupon on any of the first 11 determination dates
|
| Initial level: | $93.74
|
| Barrier level: | $74.99; 80% of initial level
|
| Pricing date: | April 29
|
| Settlement date: | May 4
|
| Agent: | UBS Securities LLC
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 90275R463
|
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