UBS plans trigger phoenix autocallable notes linked to Phillips 66

By Susanna Moon

Chicago, May 15 - UBS AG, London Branch plans to price trigger phoenix autocallable optimization securities due May 22, 2019 linked to Phillips 66 shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 7.5% if Phillips 66 shares close at or above the trigger price - 70% to 75% of the initial price - on an observation date for that month.

The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any monthly observation date after one year.

If the notes are not called and Phillips 66 shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be fully exposed to any losses.

UBS Financial Services Inc. and UBS Investment Bank are the underwriters.

The notes will price on May 16 and settle on May 21.

The Cusip number is 90272X448.

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