UBS plans six-month 9%-12% single observation ELKS linked to Apple

By Toni Weeks

San Diego, May 21 - UBS AG, London Branch plans to price 9% to 12% annualized single observation Equity LinKed Securities due Dec. 5, 2012 linked to the common shares of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact rate will be set at pricing.

The payout at maturity will be par unless Apple shares fall to or below 80% of the initial price on the Nov. 30, 2012 valuation date, in which case the payout will be a number of shares of Apple stock equal to $10 divided by the initial price.

The notes (Cusip: 90268U234) are expected to price May 30 and settle June 4.

UBS Securities LLC will be the agent.

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