UBS plans three-month 15% reverse convertibles linked to Wynn Resorts

By Susanna Moon

Chicago, May 6 - UBS AG, London Branch plans to price 15% annualized reverse convertible notes due Aug. 31, 2010 based on the performance of Wynn Resorts, Ltd. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless Wynn Resorts stock falls below the trigger price - 80% of its initial share price - during the life of the notes and finishes below the initial share price, in which case investors will receive a number of Wynn Resorts shares equal to $1,000 divided by the initial share price.

The notes are expected to price on May 25 and settle on May 28.

UBS Securities LLC and UBS Investment Bank are the underwriters.

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