UBS plans to price 9%-11% yield optimization notes linked to Hess

By Angela McDaniels

Tacoma, Wash., Aug. 5 - UBS AG plans to price yield optimization notes with contingent protection due Aug. 19, 2011 linked to the common stock of Hess Corp., according to an FWP filing with the Securities and Exchange Commission.

The notes will carry a coupon of 9% to 11%, with the exact coupon to be set at pricing. Interest will be payable monthly.

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

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

The notes are expected to price Aug. 14 and settle Aug. 19.

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

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