UBS plans issue of 0% market performance notes linked to iShares ETF basket

By Angela McDaniels

Seattle, Aug. 15 - UBS AG plans to price an issue of 0% five-year market performance notes linked to a basket of iShares exchange traded funds, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes the iShares Dow Jones Select Dividend Index Fund with a 75% weight and the iShares MSCI EAFE Index Fund with a 25% weight.

The notes are expected to mature on Aug. 21, 2011.

Payment at maturity will be par of $10.00 plus any positive return on the basket multiplied by the participation rate, which is expected to be between 1.45 and 1.6 and will be determined at pricing. Investors will participate fully in any loss on the basket.

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

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