UBS plans trigger phoenix autocallable optimization notes on Comcast

By Susanna Moon

Chicago, June 23 - UBS AG, London Branch plans to price 0% trigger phoenix autocallable optimization securities due June 29, 2012 linked to Comcast, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

If the price of Comcast stock closes at or above the trigger price - 80% of the initial share price - on any of four quarterly observation dates, the issuer will pay a contingent coupon of 10% to 12% per year. The exact rate will be set at pricing.

If Comcast shares are at or above the initial price on any of the observation dates, the notes will be called at par of $10 plus the contingent coupon.

If the notes are not called and Comcast stock finishes at or above the trigger price, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be exposed to any losses.

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

The notes will price on June 28 and settle on June 30.

The Cusip is 90267X692.

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