UBS to price yield optimization notes linked to Lehman Brothers

By Jennifer Chiou

New York, July 26 - UBS AG plans to price yield optimization notes with contingent protection due Aug. 29, 2008 linked to the common stock of Lehman Brothers Holdings Inc., according to an FWP filing with the Securities and Exchange Commission.

The notes will carry a coupon of 10% to 11%, and interest will be payable quarterly. The exact coupon will be determined at pricing.

The notes will price on Aug. 27 and settle on Aug. 31.

If Lehman Brothers stock falls below the trigger price during the life of the notes, the payout will be one Lehman Brothers share per note. If Lehman Brothers stock does not fall below the trigger price, the payout will be par.

The trigger price will be 75% of the initial share price, and par will equal the initial share price.

UBS Securities Investment Bank and UBS Financial Services, Inc. will be the underwriters.

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