UBS plans 0% enhanced bearish notes linked to S&P 500, Russell 2000

By Jennifer Chiou

New York, July 3 - UBS AG plans to price an issue of 0% enhanced bearish notes due July 31, 2007 linked to the S&P 500 and Russell 2000 indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The indexes will be equally weighted.

If the basket return is negative, payout at maturity will be triple the absolute value of the loss, capped at between 36.25% and 40.25%, with the exact percentage to be determined at pricing. Investors will be fully exposed to losses as a result of any gain in the basket.

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

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