New Issue: UBS prices $13.3 million 10.5% yield optimization notes linked to Halliburton

By E. Janene Geiss

Philadelphia, March 28 - UBS AG priced a $13,265,369 offering of 10.5% yield optimization notes due March 31, 2008 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The payout at maturity will be par of $31.37 unless Halliburton stock falls below the trigger price of $23.53 during the life of the notes, in which case the payout will be one share of Halliburton stock.

Issuer:	UBS AG
Issue:	Yield optimization notes with contingent protection
Underlying stock:	Halliburton Co.
Amount:	$13,265,369
Maturity:	March 31, 2008
Coupon:	10.5%, payable quarterly
Price:	Par of $31.37
Payout at maturity:	Par unless Halliburton stock falls below the trigger price during the life of the notes, in which case payout will be one Halliburton share
Initial share price:	$31.37
Trigger price:	$23.53, 75% of initial share price
Pricing date:	March 26
Settlement date:	March 30
Underwriters:	UBS Investment Bank and UBS Financial Services Inc.
Underwriting discount:	0.63%

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