New Issue: UBS prices $47 million 0% enhanced appreciation notes linked to S&P 500

By Jennifer Chiou

New York, Aug. 29 - UBS AG priced $47 million of 0% enhanced appreciation securities due Oct. 31, 2008 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity is par plus triple any gain on the S&P 500 index, capped at 13%. Investors participate fully in any decline in the index.

Issuer:	UBS AG
Issue:	Enhanced appreciation securities
Underlying index:	S&P 500 index
Amount:	$47 million
Maturity:	Oct. 31, 2008
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	Par plus triple any positive return on index, capped at 13%; full exposure to any loss
Pricing date:	Aug. 25
Underwriters:	UBS Investment Bank, UBS Financial Services Inc.

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