New Issue: UBS prices $4.99 million 10.73% yield optimization notes linked to Schlumberger

By E. Janene Geiss

Philadelphia, June 27 - UBS AG priced a $4,991,653 offering of 10.73% yield optimization notes due June 30, 2008 linked to the common stock of Schlumberger Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The payout at maturity will be par unless Schlumberger stock falls below the trigger price of $65.37 during the life of the notes - 75% of the initial share price - in which case the payout will be one share of Schlumberger stock.

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

Issuer:	UBS AG
Issue:	Yield optimization notes with contingent protection
Underlying stock:	Schlumberger Ltd.
Amount:	$4,991,653
Maturity:	June 30, 2008
Coupon:	10.73%, payable quarterly
Price:	Par of $87.16
Payout at maturity:	Par unless Schlumberger stock falls below the trigger price during the life of the notes, in which case payout will be one Schlumberger share
Initial share price:	$87.16
Trigger price:	$65.37, 75% of initial share price
Pricing date:	June 25
Settlement date:	June 29
Underwriters:	UBS Investment Bank and UBS Financial Services Inc.
Fees:	2%

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