UBS plans trigger phoenix autocallable notes linked to HollyFrontier

By Jennifer Chiou

New York, May 15 - UBS AG, London Branch plans to price trigger phoenix autocallable optimization securities due Nov. 20, 2015 linked to HollyFrontier Corp. shares, according to an FWP with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8% to 10% if HollyFrontier shares close at or above the trigger price - 75% of the initial price - on an observation date for that quarter.

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

If the notes are not called and HollyFrontier 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.

The notes (Cusip: 90272X406) are expected to price on May 16 and settle on May 21.

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

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