UBS plans buffered autocallable optimization notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., May 20 - UBS AG, London Branch plans to price 0% buffered autocallable optimization securities due Nov. 28, 2014 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index closes at or above the initial index level on any quarterly observation date, the notes will be called at par of $10 plus an annualized call return of at least 6%. The first observation date will be Nov. 21, 2013.

If the notes are not called and the final index level is at least 95% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% that the index declines beyond 5%.

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

The notes are expected to price May 21 and settle May 24.

The Cusip number is 90271C619.

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