UBS to price 10%-12% yield optimization notes linked to Financial Select Sector SPDR Fund

By E. Janene Geiss

Philadelphia, April 14 - UBS AG plans to price yield optimization notes with contingent protection due Oct. 31, 2006 linked to shares of the Financial Select Sector SPDR Fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will carry a coupon of 10% to 12% per year, with the exact coupon to be determined at pricing. Interest will be payable quarterly.

The payout at maturity will be par unless shares of the fund fall by 20% or more during the life of the notes, in which case the payout will be one share of the fund per note.

The notes are expected to price April 25 and settle April 30.

UBS Investment Bank will be the underwriter.

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