New Issue: UBS prices $149,999 13.54% trigger yield optimization notes linked to Gerdau ADRs

By Toni Weeks

San Diego, Nov. 28 - UBS AG, London Branch priced $149,999 of 13.54% annualized trigger yield optimization notes due Nov. 5, 2012 linked to the American Depositary Shares of Gerdau SA, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The face amount of each note will be equal to the initial price of Gerdau ADRs.

The payout at maturity will be par in cash unless the final price of Gerdau ADRs is less than 70% of the initial ADR price, in which case investors will receive one Gerdau share per note.

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

Issuer:	UBS AG, London Branch
Issue:	Trigger yield optimization notes
Underlying stock:	American Depositary Shares of Gerdau SA (NYSE: GGB)
Amount:	$149,998.50
Maturity:	Nov. 5, 2012
Coupon:	13.54%, payable monthly
Price:	Par of $7.38
Payout at maturity:	If final share price is less than trigger price, one Gerdau share; otherwise, par
Initial share price:	$7.38
Trigger price:	$5.17, 70% of initial price
Pricing date:	Nov. 28
Settlement date:	Dec. 1
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	1.83%
Cusip:	90267T436

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