UBS to price contingent income autocalls on General Mills

By Sarah Lizee

Olympia, Wash., April 6 – UBS AG, London Branch plans to price contingent income autocallable securities due April 13, 2023 linked to the common stock of General Mills, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 10.5% per year if the shares close at or above the coupon barrier, 60% of the initial share price, on the observation date for that quarter.

The notes will be automatically called at par of $10 if the shares close at or above the initial share price on any quarterly observation except the final one.

If the notes are not called and the final share price is greater than or equal to the downside threshold level, 60% of the initial share price, the payout at maturity will be par. Otherwise, investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

UBS Securities LLC is the agent. Morgan Stanley Smith Barney LLC is the underwriter.

The notes will price on April 9.

The Cusip number is 90281J315.

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