ZURICH, Switzerland (AP) — Swiss bank UBS AG said yesterday it is buying the commodity index business of American International Group Inc. for up to $150 million.

UBS said it would pay $15 million upfront for AIG's product platform of commodity index swaps and funded notes.

This would be followed by further payments of up to $135 million over the following 18 months, depending on how the business fares, it said.

The bank said the deal is subject to regulatory and "other conditions," without specifying.

New York-based insurance giant AIG is in the process of restructuring its business after receiving a massive cash infusion last year from the US government. The federal government has given the ailing company backing worth around $150 billion.