UBS to price 0% principal-protected notes linked to BRIC currency basket

By Jennifer Chiou

New York, Jan. 31 - UBS AG plans to price an issue of zero-coupon principal-protected notes due Feb. 28, 2009 linked to a basket of currencies, according to an FWP filing with the Securities and Exchange Commission.

The basket includes equal weights of the dollar/Brazilian real spot rate, dollar/Russian ruble spot rate, dollar/Indian rupee spot rate and dollar/Chinese renminbi spot exchange rate.

The payout at maturity will be par plus any basket gain times a participation rate of between 3.25 and 3.75. Investors will receive at least par.

The notes will price on Feb. 21 and settle on Feb. 28.

UBS Investment Bank and UBS Financial Services Inc. will be the underwriters.

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