UBS to price 16.85% reverse convertibles linked to Sprint Nextel

By Angela McDaniels

Tacoma, Wash., March 17 - UBS AG, London Branch plans to price reverse convertible notes due June 30, 2010 linked to the common stock of Sprint Nextel Corp., according to an FWP filing with the Securities and Exchange Commission.

The three-month notes are expected to pay an annualized coupon of 16.85%. Interest will be payable monthly.

The payout at maturity will be par unless Sprint Nextel shares fall below 80% of the initial share price during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of Sprint Nextel shares equal to $1,000 divided by the initial share price.

The notes are expected to price March 26 and settle March 31.

UBS Securities LLC and UBS Investment Bank are the underwriters.

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