UBS to price trigger phoenix autocallables linked to Lincoln National

By Toni Weeks

San Luis Obispo, Calif., July 8 – UBS AG, London Branch plans to price trigger phoenix autocallable optimization securities due July 17, 2019 linked to Lincoln National Corp. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 7% if the stock price on any monthly observation date is equal to or greater than the coupon barrier, 70% to 75% of the initial share price. Interest is payable monthly.

The notes will be called at par if Lincoln National shares close at or above the initial share price on any monthly observation date after one year.

If the notes are not called, the payout at maturity will be par if the final share price is equal to or greater than the 70% to 75% trigger price.

If the final price is less than the trigger price, investors will be fully exposed to the decline in the stock price from the initial share price.

The exact terms will be set at pricing.

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

The notes (Cusip: 90273E423) will price July 11 and settle July 16.

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