UBS plans autocallable optimization securities tied to Weatherford

By Jennifer Chiou

New York, Dec. 13 - UBS AG, London Branch plans to price 0% autocallable optimization securities with contingent protection due Dec. 22, 2011 linked to the common stock of Weatherford International Ltd., according to an FWP with the Securities and Exchange Commission.

If Weatherford stock closes at or above the initial share price on any of 12 monthly observation dates, the notes will be called at par of $10 plus an annualized call premium of 18.5% to 21.5%. The exact percentage will be set at pricing.

The payout at maturity will be par if Weatherford stock finishes at or above 70% of the initial share price. Otherwise, investors will be exposed to any decline in the price.

The notes (Cusip: 90267F386) are expected to price on Dec. 15 and settle on Dec. 21.

UBS Financial Services Inc. and UBS Investment Bank are the underwriters.

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