UBS to price contingent income autocallables linked to Blackstone

By Angela McDaniels

Tacoma, Wash., Nov. 13 – UBS AG, London Branch plans to price contingent income autocallable securities due Nov. 28, 2016 linked to the common units of Blackstone Group LP, according to an FWP filing with the Securities and Exchange Commission.

If Blackstone units close at or above the downside threshold level, 80% of the initial unit price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 15.8%.

The notes will be called at par of $10 plus the contingent coupon if Blackstone units close at or above the initial unit price on any quarterly determination date other than the final determination date.

If the final unit price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final unit price is less than the initial unit price.

UBS Securities LLC and Morgan Stanley Wealth Management are the agents.

The notes are expected to price Nov. 20.

The Cusip number is 90275G798.

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