UBS plans trigger autocallable optimization notes on SPDR S&P 500 ETF

By Marisa Wong

Madison, Wis., July 29 - UBS AG, London Branch plans to price 0% trigger autocallable optimization securities due Aug. 11, 2014 linked to the SPDR S&P 500 ETF trust, according to an FWP filing with the Securities and Exchange Commission.

The notes will be called at par of $10 plus an annualized call return of 7.5% to 9% if the fund share price closes at or above the initial share price on any of six quarterly observation dates.

The payout at maturity will be par if the final share price is at least 75% of the initial price. Otherwise, investors will be exposed to any losses.

The securities (Cusip: 90268B350) are expected to price on Aug. 5 and settle on Aug. 10.

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

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