UBS plans 6%-7.25% airbag yield optimization notes linked to Alexion

By Angela McDaniels

Tacoma, Wash., May 7 - UBS AG, London Branch plans to price 6% to 7.25% airbag yield optimization notes due Nov. 17, 2014 linked to the common stock of Alexion Pharmaceuticals, Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact interest rate will be set at pricing.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Alexion shares equal to $1,000 divided by the conversion price. The conversion price will be 80% of the initial share price.

UBS Financial Services Inc. and UBS Investment Bank are the agents.

The notes are expected to price May 9 and settle May 14.

The Cusip number is 90272X299.

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