New Issue: UBS prices $1.25 million 10.86% yield optimization notes linked to International Paper

By Angela McDaniels

Tacoma, Wash., Nov. 3 - UBS AG, London Branch priced $1.25 million of 10.86% yield optimization notes with contingent protection due Nov. 7, 2011 linked to the common stock of International Paper Co., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes have a face value of $25.09 each, which is the initial share price of International Paper stock.

The payout at maturity will be par unless the final price of International Paper stock is less than 70% of the initial share price, in which case the payout will be one share of International Paper stock per note.

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

Issuer:	UBS AG, London Branch
Issue:	Yield optimization notes with contingent protection
Underlying stock:	International Paper Co. (NYSE: IP)
Amount:	$1,249,983.80
Maturity:	Nov. 7, 2011
Coupon:	10.86%, payable monthly
Price:	Par of $25.09
Payout at maturity:	If final price of International Paper stock is less than trigger price, one International Paper share; otherwise, par
Initial share price:	$25.09
Trigger price	$17.56, 70% of initial price
Pricing date:	Nov. 1
Settlement date:	Nov. 4
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	1.7%
Cusip:	90267F758

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