By Susanna Moon
Chicago, Dec. 16 – UBS AG, London Branch priced $18.85 million of contingent income autocallable securities due Dec. 15, 2017 linked to Blackstone Group LP shares, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly payment at an annual rate of 10.3% if the shares close at or above the 80% barrier level on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any of the first 11 determination dates.
The payout at maturity will be par plus the final coupon unless the shares finish below the 80% barrier level, in which case investors will receive a number of Blackstone shares equal to $10 divided by the initial price or, at the issuer’s option, the cash equivalent.
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: | Blackstone Group LP (Symbol: BX)
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| Amount: | $18,846,220
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| Maturity: | Dec. 15, 2017
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| Coupon: | 10.3% per year if shares close at or above barrier level on quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless shares finish below barrier level, in which case a number of Blackstone shares equal to $10 divided by initial price
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| Call: | At par plus contingent coupon if stock closes at or above its initial level on any of first 11 determination dates
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| Initial level: | $32.91
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| Barrier level: | $26.33, 80% of initial price
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| Pricing date: | Dec. 12
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| Settlement date: | Dec. 17
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| Agent: | UBS Securities LLC with distribution through Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 90274F304
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