UBS to price performance tracking securities linked to CBOE S&P 500 index

By E. Janene Geiss

Philadelphia, May 29 - UBS AG plans to price an issue of zero-coupon performance tracking securities due June 29, 2012 linked to the CBOE S&P 500 BuyWrite Index, according to an FWP filing with the Securities and Exchange Commission.

For each $10 principal amount of securities, the payout at maturity will be $9.875 times the index performance minus a fee amount. The fee amount will accrue daily and be equal to 1.25% divided by 365 times $9.875 times the index performance.

Holders may exchange their securities for their cash value on any of July 2, 2008; June 30, 2009; June 30, 2010; and June 30, 2011.

Pricing is expected June 25 with settlement June 29.

UBS Investment Bank and UBS Financial Services Inc. are agents.

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