By Wendy Van Sickle
Columbus, Ohio, April 18 – UBS AG London Branch priced $15.9 million of contingent income autocallable securities due April 15, 2027 linked to Charles Schwab Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive interest at 10.3% per year payable quarterly if the stock closes above the downside threshold level.
The securities will be called at par on a quarterly review date if the stock closes at or above its initial level.
At maturity the payout will be par unless the stock closes below its 65% downside threshold level in which case investors will be fully exposed to the decline of the stock.
UBS Securities LLC is the agent with Morgan Stanley Wealth Management as the distributor.
Issuer: | UBS AG London Branch
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Issue: | Contingent income autocallable securities
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Underlying stock: | Charles Schwab Corp.
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Amount: | $15,898,000
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Maturity: | April 15, 2027
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Coupon: | 10.3% per year payable quarterly if the stock closes above the downside threshold level
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Price: | Par
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Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the stock
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Call: | At par on a quarterly review date if the stock closes at or above its initial level
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Initial level: | $70.03
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Downside threshold: | $45.52, 65% of initial level
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Pricing date: | April 12
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Settlement date: | April 17
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Agent: | UBS Securities LLC with Morgan Stanley Wealth Management as distributor
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Fees: | 2.25%
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Cusip: | 90307DBK7
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