options Specifies command-line options to send to the server at connection start. For example, setting this to -c geqo=off sets the session's value of the geqo parameter to off. Spaces within this string are considered to separate command-line arguments, unless escaped with a backslash (\); write \\ to represent a literal backslash. For a detailed discussion of the available options, consult Chapter 19.
In the same document, under "33.1.1.2. Connection URIs":
Percent-encoding may be used to include symbols with special meaning in any of the URI parts.
Have you tried to replace "=" with "%3D" (and " " with "%20")?