UBS to price 8.5%-11% yield optimization notes linked to Dell

By Angela McDaniels

Tacoma, Wash., July 20 - UBS AG plans to price yield optimization notes with contingent protection due Jan. 29, 2010 linked to the common stock of Dell Inc., according to an FWP filing with the Securities and Exchange Commission.

The six-month notes will pay an annualized coupon of 8.5% to 11%, with the exact coupon to be set at pricing. Interest will be payable quarterly.

Each note will have a face amount that is equal to the closing price of Dell stock on the pricing date.

If the final share price of Dell stock is less than 70% of the initial share price, the payout at maturity will be one Dell share per note. Otherwise, the payout will be par.

The notes are expected to price July 29 and settle July 31.

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

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