New Issue: UBS prices $9.543 million 0% principal-protected notes linked to currency basket

By Jennifer Chiou

New York, March 27 - UBS AG priced a $9.543 million issue of zero-coupon principal-protected notes due March 31, 2009 linked to a basket of currencies, according to a 424B2 filing with the Securities and Exchange Commission.

The equally weighted basket includes the dollar/Mexican peso spot exchange rate, the dollar/Brazilian real spot exchange rate, the dollar/Russian ruble spot exchange rate, the dollar/Norwegian krone spot exchange rate and the dollar/Chinese renminbi spot exchange rate.

The payout at maturity will be par plus a 300% participation rate for each 1% gain on the basket. Investors will receive at least par.

UBS Investment Bank and UBS Financial Services Inc. are the underwriters.

Issuer:	UBS AG
Issue:	Principal-protected foreign exchange-linked securities
Underlying assets:	Equally weighted dollar/Mexican peso, dollar/Brazilian real, dollar/Russian ruble, dollar/Norwegian krone and dollar/Chinese renminbi spot rates
Amount:	$9.543 million
Maturity:	March 31, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 300% of any basket gain; floor of par
Initial spot exchange rates:	Dollar/Mexican peso at 11.005, dollar/Brazilian real at 2.059, dollar/Russian ruble at 26.0446, dollar/Norwegian krone at 6.112 and dollar/Chinese renminbi at 7.725
Pricing date:	March 23
Underwriters:	UBS Investment Bank, UBS Financial Services Inc.
Fees:	1.25%

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