Jim-
Not to be too technical about it--since the outcome is inevitably a safety--but the result of the play is an incomplete pass. The presence of a penalty flag on the field doesn't change that. Once you get into exploring the penalty, then the safety becomes the unavoidable result, as we learn from NFHS 7-5-3.
A minor difference, but imprtant in the sense that if the "result of the play" were a safety, then the appropriate covering officials would be required to give the signal for a safety at the conclusion of the play. With the potential for other things to be going on during a play like this, that could cause problems for a crew.
But you're right that the coach doesn't have any options here!
