New Issue: UBS prices $99,987 15.08% trigger yield optimization notes tied to Vale

By Toni Weeks

San Diego, Nov. 29 - UBS AG, London Branch priced $99,987 of 15.08% annualized trigger yield optimization notes due June 1, 2012 linked to the American Depositary Shares of Vale SA, according to a 424B2 filing with the Securities and Exchange Commission.

The face amount of each note is equal to the initial price of Vale ADSs.

Interest is payable quarterly.

The payout at maturity will be par in cash unless the final price of Vale ADSs is less than 80% of the initial ADS price, in which case investors will receive one Vale ADS 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:	Vale SA (NYSE: VALE)
Amount:	$99,987.44
Maturity:	June 1, 2012
Coupon:	15.08%, payable quarterly
Price:	Par of $22.18
Payout at maturity:	If final share price is less than trigger price, one Vale ADS; otherwise, par
Initial ADS price:	$22.18
Trigger price:	$17.74, 80% of initial price
Pricing date:	Nov. 29
Settlement date:	Dec. 2
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	1%
Cusip:	90267T519

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