UBS to price five-year callable contingent accrual notes tied to six-month Libor, S&P 500

By Marisa Wong

Madison, Wis., April 15 - UBS AG, Jersey Branch plans to price callable contingent accrual notes due April 20, 2026 linked to six-month Libor and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The per-year interest rate will be 7% for each day that six-month Libor is at or below 7% and the S&P 500 closes at or above 855. Interest will be payable quarterly.

The payout at maturity will be par.

The notes will be callable on any interest payment date beginning April 20, 2012.

The notes (Cusip: 90261JGY3) are expected to settle on April 20.

UBS Investment Bank is the underwriter.

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