New Issue: UBS sells $264,900 trigger autocallable optimization securities on Hess

By Marisa Wong

Madison, Wis., Dec. 20 - UBS AG, London Branch priced $264,900 of 0% trigger autocallable optimization securities due Dec. 28, 2012 linked to the common stock of Hess Corp., according to a 424B2 filing with the Securities and Exchange Commission.

If Hess shares close at or above the initial share price on any monthly observation date, the notes will be called at par plus an annualized call return of 22.69%.

If the notes are not called and the final share price is greater than or equal to 80% of the initial price, the payout at maturity will be par. Otherwise, investors will share fully in losses.

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

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable optimization securities
Underlying stock:	Hess Corp. (NYSE: HES)
Amount:	$264,900
Maturity:	Dec. 28, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	If final share price is greater than or equal to trigger price, par; otherwise, exposure to losses
Initial share price:	$55.50
Trigger price:	$44.40, 80% of initial price
Call option:	At par plus 22.69% per year if Hess shares close at or above initial price on a monthly observation date
Pricing date:	Dec. 20
Settlement date:	Dec. 23
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	1.25%
Cusip:	90267V126

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