On Xcode 6, you can just use \n even inside a string when using word wrap. It will work. So for example:
UILabel *label = [[UILabel alloc]initWithFrame:CGRectMake(0, 100, screenRect.size.width, 50)];
label.textAlignment = NSTextAlignmentCenter;
label.text = @"This will be on the first line\nfollowed by a line under it.";
label.lineBreakMode = UILineBreakModeWordWrap;
label.numberOfLines = 0;