New Issue: UBS prices $1.08 million of 16.5% reverse convertibles linked to First Solar

By E. Janene Geiss

Philadelphia, Sept. 14 - UBS AG priced $1.08 million of 16.5% annualized reverse convertible notes due Dec. 16, 2009 linked to First Solar, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par in cash unless the stock falls below the trigger price - 70% of the initial price - during the life of the notes and finishes below the initial price, in which case investors will receive a number of First Solar shares equal to $1,000 divided by the initial price.

UBS Securities LLC and UBS Investment Bank are the underwriters.

Issuer:	UBS AG
Issue:	Reverse convertible notes
Underlying stock:	First Solar, Inc. (Nasdaq Global Select Market: FSLR)
Amount:	$1,083,000
Maturity:	Dec. 16, 2009
Coupon:	16.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless First Solar shares fall below the trigger price during the life of the notes and finish below the initial price, in which case 7.3126 First Solar shares
Initial price:	$136.75
Trigger price:	$95.73, or 70% of initial price
Pricing date:	Sept. 11
Settlement date:	Sept. 16
Underwriters:	UBS Securities LLC and UBS Investment Bank
Fees:	2%

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