New Issue: UBS prices $3.01 million 0% return optimization notes on UBS Bloomberg Constant Maturity

By Jennifer Chiou

New York, Dec. 26 - UBS AG priced a $3.01 million issue of 0% return optimization securities due June 30, 2009 linked to the UBS Bloomberg Constant Maturity Commodity Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any index gain, subject to a maximum return of 26%. Investors will be fully exposed to any index decline.

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

Issuer:	UBS AG
Issue:	Return optimization securities
Underlying index:	UBS Bloomberg Constant Maturity Commodity Index Excess Return
Amount:	$3,005,000
Maturity:	June 30, 2009
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus triple any index gain up to a maximum return of 26%; full exposure to any index decline
Initial index level:	1,230.27
Pricing date:	Dec. 21
Settlement date:	Dec. 31
Underwriters:	UBS Financial Services, Inc., UBS Investment Bank
Fees:	1.75%

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