UBS plans to price contingent buffer enhanced notes tied to euro

By Toni Weeks

San Diego, May 21 - UBS AG, Jersey Branch plans to price 0% contingent buffer enhanced notes due Nov. 30, 2012 linked to the euro spot rate relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.

If the currency return is positive, the payout at maturity will be par plus the currency return, up to a maximum return of at least 9.1%. The exact maximum return will be set at pricing.

Investors will receive par if the currency return is negative but equal to or greater than the negative 7% barrier amount.

If the currency return is negative and below the barrier level, investors will be fully exposed to losses.

The notes (Cusip: 90261JKA0) are expected to price May 25 and settle May 31.

UBS Investment Bank is the underwriter, with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as agents.

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