UBS to buy back bonds: Massachusetts official

BOSTON (Reuters) - Swiss bank UBS (UBSN.VX: Quote) has agreed to buy back $19.4 billion of bonds whose value collapsed during the global financial crisis, a spokesman for the Massachusetts Secretary of State said on Friday.

UBS also agreed to pay $150 million in fines, split between Massachusetts and New York, said Brian McNiff, a spokesman for Massachusetts Secretary of State William Galvin.

(Reporting by Jason Szep; editing by John Wallace)