UBS plans partially protected notes linked to UBS Bloomberg Constant Maturity Commodity

By Laura Lutz

Des Moines, Dec. 31 - UBS AG plans to price 0% performance securities with partial protection due July 29, 2011 linked to the UBS Bloomberg Constant Maturity Commodity index, according to an FWP filing with the Securities and Exchange Commission.

If the final index level is at least the final level, the payout at maturity will be par plus any gain on the index times a participation rate that is expected to be between 101% and 111%. The exact rate will be set at pricing.

The payout will be par if the index declines by up to 20%. Investors will lose 1% for each 1% that the index declines beyond 20%.

The notes are expected to price on Jan. 28 and settle on Jan. 31.

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

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