New Issue: UBS prices $1.7 million 9.24% yield optimization notes linked to Rio Tinto

By Angela McDaniels

Tacoma, Wash., March 30 - UBS AG, London Branch priced $1.7 million of 9.24% yield optimization notes with contingent protection due March 31, 2011 linked to the American Depositary Shares of Rio Tinto plc, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

Each note has a face value of $235.60, which is equal to the closing price of Rio Tinto ADSs on the pricing date.

The payout at maturity will be par unless the final price of Rio Tinto ADSs is less than 75% of the initial ADS price, in which case the payout will be one Rio Tinto ADS.

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

Issuer:	UBS AG, London Branch
Issue:	Yield optimization notes with contingent protection
Underlying shares:	Rio Tinto plc (Symbol: RTP)
Amount:	$1,703,623
Maturity:	March 31, 2011
Coupon:	9.24%, payable monthly
Price:	Par of $235.60
Payout at maturity:	If final ADS price is less than trigger price, one Rio Tinto ADS; otherwise, par
Initial ADS price:	$235.60
Trigger price:	$176.70, 75% of initial price
Pricing date:	March 29
Settlement date:	March 31
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2%
Cusip:	90267C151

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