UBS to price autocallable optimization securities tied to Technology Select Sector SPDR fund

By Jennifer Chiou

New York, Oct. 8 - UBS AG plans to price 0% autocallable optimization securities with contingent protection due Nov. 2, 2010 linked to the Technology Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.

If the fund closes above its initial share price on any of 12 monthly observation dates, the notes will be called and investors will receive par of $10 plus an annualized return of 11% to 15%, with the exact level to be set at pricing.

If the notes are not called, the payout at maturity will be par if the final share price is at least 90% of the initial price. Otherwise, investors will receive par plus the share price return.

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

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

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