UBS plans 9.5%-12% trigger yield optimization notes linked to Elan

By Angela McDaniels

Tacoma, Wash., June 14 - UBS AG, London Branch plans to price trigger yield optimization notes due Dec. 22, 2011 linked to the American Depositary Shares of Elan Corp., plc, according to an FWP filing with the Securities and Exchange Commission.

The six-month notes will carry a coupon of 9.5% to 12% per year. The exact coupon will be set at pricing. Interest will be payable monthly.

The face amount of each note will be equal to the initial ADS price of Elan.

The payout at maturity will be par unless the final ADS price of Elan is less than 65% of the initial ADS price, in which case investors will receive one Elan ADS per note.

The notes (Cusip: 90267X601) are expected to price June 17 and settle June 22.

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

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