Adding and catching links in a UILabel on iOS5 when you're designing with Interface Builder / Storyboards.

example.h

#import "TTTAttributedLabel.h"

@interface CVSignupViewController : UITableViewController <TTTAttributedLabelDelegate> {
    IBOutlet TTTAttributedLabel* _legalLabel;
}

@end

example.m

#import "CVSignupViewController.h"

// you MUST add this import.!
#import <CoreText/CoreText.h> 

@interface CVSignupViewController ()

@end

@implementation CVSignupViewController

- (void)viewDidLoad
{
    [super viewDidLoad];

    // Colors etc for links (default hideous blue)
    _legalLabel.linkAttributes = @{
    (NSString*)kCTForegroundColorAttributeName :  (id)[UIColor grayColor].CGColor,
    (NSString *)kCTUnderlineStyleAttributeName : @YES
    };
    
    _legalLabel.activeLinkAttributes = @{
    (NSString*)kCTForegroundColorAttributeName :  (id)[UIColor blackColor].CGColor,
    (NSString *)kCTUnderlineStyleAttributeName : @YES
    };

    // If you've set the text in Interface Builder TTTAttributedLabel will crash unless you insert this line (!)
    _legalLabel.text = _legalLabel.text;
    
    NSRange r = [_legalLabel.text rangeOfString:@"Privacy Policy"];
    [_legalLabel addLinkToURL:[NSURL URLWithString:@"action://privacyUrl"] withRange:r];
    
    r = [_legalLabel.text rangeOfString:@"Terms of Use"];
    [_legalLabel addLinkToURL:[NSURL URLWithString:@"action://termsUrl"] withRange:r];

    [_legalLabel setDelegate:self];
}

- (void)attributedLabel:(TTTAttributedLabel *)label didSelectLinkWithURL:(NSURL *)url {
    if ([[url scheme] hasPrefix:@"action"]) {
        if ([[url host] hasPrefix:@"privacyUrl"]) {

           // You clicked the privacy button!
            
        } else if ([[url host] hasPrefix:@"termsUrl"]) {

           // You clicked the terms button!            
        }
    }
}

@end

Steps to get started:
Add TTTAttributedLabel (https://github.com/mattt/TTTAttributedLabel)

• Use above code as basis for your UIViewController
• Create a UILabel in IB/Storyboard (on UIViewController with Custom Class CVSignupViewController)
• Add PLAIN text (e.g. Have a look at our Privacy Policy and Terms of Use)
• Set the Custom Class to TTTAttributedLabel
• Link the Label to the TTTAttributedLabel IBOutlet