New Issue: UBS prices $32.36 million principal-protection notes linked to four Asian currencies

By Jennifer Chiou

New York, Dec. 26 - UBS AG priced $32.36 million of zero-coupon principal-protection notes due Dec. 31, 2009 linked to a basket of four currencies, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of equal weights of the Indonesian rupiah, Indian rupee, Chinese renminbi and Philippine peso, all against the dollar.

The payout at maturity will be par of $10 plus any positive basket return times a 175% participation rate. Investors will receive at least par.

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

Issuer:	UBS AG
Issue:	Principal-protection foreign exchange-linked securities
Underlying currencies:	Equally weighted Indonesian rupiah, Indian rupee, Chinese renminbi and Philippine peso, all against the dollar
Amount:	$32,361,950
Maturity:	Dec. 31, 2009
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 175% of any basket gain; floor of par
Initial exchange rates:	Indonesian rupiah at 9,450, Indian rupee at 39.42, Chinese renminbi at 7.361 and Philippine peso at 41.69
Pricing date:	Dec. 20
Underwriters:	UBS Financial Services, Inc., UBS Investment Bank
Fees:	2%

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