UBS to sell 8%-10% yield optimization notes linked to BHP Billiton

By Susanna Moon

Chicago, Feb. 12 - UBS AG plans to price 8% to 10% yield optimization notes with contingent protection due Feb. 29, 2012 based on the common stock of BHP Billiton Ltd., according to an FWP with the Securities and Exchange Commission.

Interest is payable monthly.

Each note will have a face amount equal to the closing price of BHP Billiton stock at pricing.

The payout at maturity will be par unless the price of BHP Billiton stock finishes at less than 80% of the initial price, in which case investors will receive one BHP Billiton share per note.

The notes will price on Feb. 24 and settle on Feb. 26.

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

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