UBS to price yield optimization notes linked to Schlumberger

By Angela McDaniels

Seattle, Feb. 1 - UBS AG plans to price an offering of yield optimization notes due Feb. 28, 2008 linked to the common stock of Schlumberger Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will have a coupon of between 10.5% and 11.5%. Interest will be payable quarterly.

The exact coupon will be determined at pricing, which is expected to be Feb. 21.

The payout at maturity will be par unless Schlumberger stock falls below the trigger price - 75% of the initial share price - during the life of the notes, in which case the payout will be one share of Schlumberger stock.

UBS Investment Bank and UBS Financial Services will underwrite the offering and will receive a discount of 1.25%.

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