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UBS plans trigger phoenix autocallables linked to Hilton
By Marisa Wong
Madison, Wis., April 21 – UBS AG, London Branch plans to price trigger phoenix autocallable optimization securities due April 30, 2018 linked to Hilton Worldwide Holdings Inc. common shares, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annualized rate of 8% if the stock closes at or above the coupon barrier, 68.5% to 73.5% of the initial share price, on any quarterly observation date.
The notes will be called at par if Hilton shares close at or above the initial share price on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par unless the stock finishes below the 68.5% to 73.5% trigger level, in which case investors will be fully exposed to any losses.
The exact terms will be set at pricing.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
The notes are expected to price April 28 and settle April 30.
The Cusip number is 90274T213.
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