UBS plans return optimization notes linked to S&P 500

By Susanna Moon

Chicago, Oct. 26 - UBS AG plans to price 0% return optimization securities due May 29, 2009 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus triple any index gain, capped at a maximum return of between 20% and 23%, with the exact level to be set at pricing.

Investors will be fully exposed to any decline in the index.

The notes are expected to price on Nov. 27 and settle on Nov. 30.

UBS Investment Bank and UBS Financial Services Inc. will underwrite the offering.

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