UBS to price 10.75% reverse convertibles linked to General Electric

By Angela McDaniels

Tacoma, Wash., June 30 - UBS AG plans to price 10.75% reverse convertible notes due July 14, 2010 linked to the common stock of General Electric Co., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless GE stock falls below the trigger price - 65% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of GE shares equal to $1,000 divided by the initial share price.

The notes are expected to price July 10 and settle July 15.

UBS Investment Bank is the underwriter.

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