UBS to price 9%-11% yield optimization notes linked to SPDRs

By Jennifer Chiou

New York, Oct. 3 - UBS AG plans to price 9% to 11% annualized yield optimization notes with contingent protection due April 17, 2009 linked to Standard & Poor's Depositary Receipts, according to an FWP filing with the Securities and Exchange Commission.

The principal amount of each note will be equal to the price of one SPDR on the pricing date.

Interest is payable at quarterly.

If the SPDRs fall below the trigger price - 75% of the initial price - during the life of the notes, the payout at maturity will be one SPDR per note. Otherwise, the payout will be par.

The notes are expected to price on Oct. 15 and settle on Oct. 20.

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

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