UBS plans one-year trigger phoenix autocallables on Express Scripts

By Marisa Wong

Madison, Wis., Dec. 3 - UBS AG, London Branch plans to price 0% trigger phoenix autocallable optimization securities due Dec. 12, 2013 linked to Express Scripts Holding Co. shares, according to an FWP filing with the Securities and Exchange Commission.

If Express Scripts stock closes at or above the trigger price - 80% of the initial share price - on a quarterly observation date, the issuer will pay a contingent coupon at an annualized rate of 7.1% to 9.1% for that quarter.

If the shares close at or above the initial price on a quarterly observation date, the notes will be called at par plus the contingent coupon.

If the notes are not called and Express Scripts 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 losses.

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

The notes will price on Dec. 7 and settle on Dec. 13.

The Cusip number is 90269W783.

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