By Wendy Van Sickle
Columbus, Ohio, Feb. 3 – UBS AG, London Branch priced $4.07 million of contingent income autocallable securities due Feb. 1, 2019 linked to the common stock of Bank of America Corp., according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.6% if Bank of America shares close at or above the coupon barrier level, 75% of the initial share price, on the determination date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if Bank of America 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 75% trigger level, in which case investors will be fully exposed to any losses.
UBS Securities LLC is the agent. Morgan Stanley Wealth Management is handling distribution.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Bank of America Corp. (Symbol: BAC)
|
| Amount: | $4,070,550
|
| Maturity: | Feb. 1, 2019
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| Coupon: | 10.6%, payable quarterly if stock closes at or above barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus the contingent coupon unless the stock finishes below its trigger level, in which case investors will be fully exposed to any losses
|
| Call: | At par if stock closes at or above its initial level on any of first 11 quarterly review dates
|
| Initial price: | $14.14
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| Barrier/trigger level: | $10.61, 75% of initial price
|
| Pricing date: | Jan. 29
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| Settlement date: | Feb. 3
|
| Agent: | UBS Securities LLC
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 90275L474
|
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