UBS plans trigger phoenix autocallable notes on Spirit AeroSystems

By Marisa Wong

Madison, Wis., April 2 - UBS AG, London Branch plans to price trigger phoenix autocallable optimization securities due Oct. 9, 2015 linked to the common stock of Spirit AeroSystems Holdings, Inc., according to an FWP filing with the Securities and Exchange Commission.

If Spirit stock closes at or above the trigger price - 75% of the initial share price - on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at a rate of 9% to 11% per year. Otherwise, no coupon will be paid 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 Spirit shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.

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

The notes will price on April 4 and settle on April 9.

The Cusip number is 90272V681.

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