UBS plans to price 14.25% reverse convertibles linked to Cemex

By Angela McDaniels

Tacoma, Wash., May 6 - UBS AG, London Branch plans to price 14.25% annualized reverse convertible notes due Nov. 30, 2010 linked to the American Depositary Shares of Cemex, SAB de CV, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless Cemex ADSs fall below the trigger price - 80% of its initial ADS price - during the life of the notes and finish below the initial price, in which case investors will receive a number of Cemex ADSs equal to $1,000 divided by the initial price.

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

UBS Securities LLC and UBS Investment Bank are the underwriters.

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