UBS plans trigger autocallable optimization securities on Joy Global

By Jennifer Chiou

New York, May 2 - UBS AG, London Branch plans to price 0% trigger autocallable optimization securities due May 10, 2012 linked to Joy Global Inc. shares, according to an FWP with the Securities and Exchange Commission.

If Joy Global stock closes at or above the initial share price on any of 12 monthly observation dates, the notes will be called at par of $10 plus an annualized call return of 18% to 21%. The exact percentage will be set at pricing.

The payout at maturity will be par if Joy Global stock finishes at or above 80% of the initial share price.

Otherwise, investors will be exposed to any share price decline.

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

The notes (Cusip: 90267G848) will price on May 6 and settle on May 11.

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