UBS plans 6.65%-8.65% airbag autocallables linked to Freeport-McMoRan

By Susanna Moon

Chicago, May 23 - UBS AG, London Branch plans to price 6.65% to 8.65% airbag autocallable yield optimization notes due May 30, 2014 linked to Freeport-McMoRan Copper & Gold Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact interest rate will be set at pricing.

The notes will be called at par if Freeport-McMoRan shares close at or above the initial share price on any quarterly review date.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Freeport-McMoRan shares equal to $1,000 divided by the conversion price. The conversion price will be 85% of the initial share price.

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

The notes will price on May 29 and settle on May 31.

The Cusip number is 90271C650.

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