UBS plans yield optimization notes linked to EMC

By Laura Lutz

Des Moines, May 7 - UBS AG plans to price yield optimization notes with contingent protection due Nov. 28, 2008 linked to the common stock of EMC Corp., according to an FWP filing with the Securities and Exchange Commission.

The notes are expected to bear interest at between 11.5% and 13% per year.

Interest will be payable quarterly.

Each note will have a par amount equal to the initial price of EMC stock.

If EMC stock falls below the trigger price - 70% of the initial price - during the life of the notes, the payout will be one EMC share per note. If the stock remains at or above the trigger price, the payout will be par.

The notes are expected to price on May 23 and settle on May 30.

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

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