By Susanna Moon
Chicago, Feb. 25 – UBS AG, London Branch priced $3.23 million of contingent income autocallable securities due Feb. 23, 2018 linked to the worst performing of the Euro Stoxx 50 index and the MSCI EAFE 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 each index closes at or above its 80% barrier level on the determination date for that quarter.
The notes will be redeemed at par plus the contingent coupon if each index closes at or above its initial level on any determination date other than the final date.
If the notes are not called and each index finishes at or above its 80% barrier level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses of the worst performing index.
UBS Securities LLC is the agent. Morgan Stanley Smith Barney LLC will handle distribution.
Issuer: | UBS AG, London Branch
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Issue: | Contingent income autocallable securities
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Underlying indexes: | Euro Stoxx 50 index and the MSCI EAFE index
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Amount: | $3,225,000
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Maturity: | Feb. 23, 2018
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Coupon: | 8.7% annualized for each quarter that each index closes at or above its coupon barrier level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par plus final coupon unless any index finishes below its barrier level, in which case exposure to any losses of worst performing index
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Call: | At par plus contingent payment if each index closes at or above initial level on any determination date other than the final date
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Initial levels: | 3,490.53 for Euro Stoxx and 1,866.73 for MSCI EAFE
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Barrier levels: | 2,792.42 for Euro Stoxx and 1,493.38 for MSCI EAFE; 80% of initial levels
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Pricing date: | Feb. 20
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Settlement date: | Feb. 25
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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: | 90274P179
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