You're 50% against this calling range: 55+,ATs+,AJo+

With the dead chips you are getting 2.2:1 and anyway he will probably fold half the time so I think its good - if you think UTG+1 has loose calling standards. But if his range is TT+,AKs,AKo, then its not so good (you are only 30% vs that range.) So you would need a read on him to make the play.