New Issue: UBS prices $32.7 million 0% enhanced appreciation notes linked to S&P 500

By Jennifer Chiou

New York, Oct. 27 - UBS AG priced $32.7 million of 0% enhanced appreciation securities due Dec. 28, 2007 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 11.4%. Investors participate fully in any decline in the index.

Issuer:	UBS AG
Issue:	Enhanced appreciation securities
Underlying index:	S&P 500 index
Amount:	$32.7 million
Maturity:	Dec. 28, 2007
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	Par plus triple any positive return on index, capped at 11.4%; full exposure to any loss
Pricing date:	Oct. 25
Underwriters:	UBS Investment Bank, UBS Financial Services Inc.
Fees:	1.5%

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