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Published on 7/8/2008 in the Prospect News Structured Products Daily.

UBS to price 8%-9.5% yield optimization notes linked to S&P MidCap 400 Depositary Receipts

By Angela McDaniels

Tacoma, Wash., July 8 - UBS AG plans to price yield optimization notes with contingent protection due Jan. 30, 2009 linked to Standard & Poor's MidCap 400 Depositary Receipts, according to an FWP filing with the Securities and Exchange Commission.

The notes will carry an annualized coupon of 8% to 9.5%, with the exact rate to be set at pricing. Interest will be payable quarterly.

The initial price of each note will be equal to the price of one fund share on the pricing date.

If the fund never closes below the trigger price - 80% of the initial price - the payout at maturity will be par. Otherwise, the payout will be one fund share per note.

The notes are expected to price on July 25 and settle on July 31.

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


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