New Issue: UBS prices $4.65 million 10.6% trigger yield optimization notes linked to First Solar

By Toni Weeks

San Diego, May 10 - UBS AG, London Branch priced $4.65 million of 10.6% trigger yield optimization notes due May 11, 2012 linked to the common stock of First Solar, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The face amount of each note will be equal to the initial price of First Solar stock.

The payout at maturity will be par unless the final price of First Solar stock is less than 75% of the initial share price, in which case investors will receive one First Solar share per note.

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

Issuer:	UBS AG, London Branch
Issue:	Trigger yield optimization notes
Underlying stock:	First Solar, Inc. (Nasdaq: FSLR)
Amount:	$4,650,229
Maturity:	May 11, 2012
Coupon:	10.6%, payable monthly
Price:	Par of $129.96
Payout at maturity:	If final share price is less than trigger price, one First Solar share; otherwise, par
Initial share price:	$129.96
Trigger price:	$97.47, 75% of initial price
Pricing date:	May 6
Settlement date:	May 11
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2%
Cusip:	90267G541

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