UBS to price absolute return barrier notes linked to S&P 500

By E. Janene Geiss

Philadelphia, March 28 - UBS AG plans to price zero-coupon 100% principal protection absolute return barrier notes expected to mature Oct. 30, 2009 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index never closes above or below its initial level by more than the barrier amount, the payout at maturity will be par of $10 plus the absolute value of the index return. Otherwise, the payout will be par.

The barrier amount is expected to be 20% to 22% and will be determined at pricing.

The notes are expected to price April 25 and settle April 30.

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

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