UBS to issue 0% enhanced appreciation notes linked to S&P 500

By Angela McDaniels

Seattle, Sept. 21 - UBS Investment Bank and UBS Financial Services Inc. plan to arrange an issue of 0% enhanced appreciation securities linked to the S&P 500 index for issuer UBS AG, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are expected to price on Oct. 25 and to mature on or about Dec. 28, 2007.

The payout at maturity will be par plus triple any gain on the index. The payout will be capped at between 11% and 12.5%, with the exact cap to be determined at pricing.

Investors will be fully exposed to any decline in the index.

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