This paper presents a high step-down transformerless single-stage single-switch AC/DC converter suitable for universal line applications from 90-270Vrms. The topology integrates a buck-type power factor correction cell with a buck-boost DC/DC cell, allowing part of the input power to transfer directly to the output after the first power processing stage. This direct power transfer feature, along with shared capacitor voltages, allows for efficient power conversion with high power factor, low voltage stress under 130V on the intermediate bus, and low output voltage without needing a high step-down transformer. Experimental results validate the analysis and design procedures for the proposed circuit.