UBS plans five-year trigger phoenix autocallable notes tied to Darden

By Susanna Moon

Chicago, July 1 – UBS AG, London Branch plans to price trigger phoenix autocallable optimization securities due July 9, 2019 linked to Darden Restaurants, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 8% if Darden stock closes at or above the trigger level – 68% to 73% of the initial share price – on an observation date for that month.

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

The payout at maturity will be par plus the contingent coupon unless Darden stock finishes below the trigger level, in which case investors will be fully exposed to any losses.

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

The notes will price on July 2 and settle on July 8.

The Cusip number is 90273E399.

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