New Issue: UBS prices $9.5 million 0% notes linked to Dow Jones Euro Stoxx 50

By Jennifer Chiou

New York, May 24 - UBS AG sold a $9.5 million issue of 0% enhanced appreciation securities due May 30, 2008 linked to the Dow Jones Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, payout at maturity will be triple the index return, capped at 33%. Investors will be fully exposed to any decline in the level of the index.

Issuer:	UBS AG
Issue:	Enhanced-appreciation securities
Underlying index:	Dow Jones Euro Stoxx index
Amount:	$9.5 million
Maturity:	May 30, 2008
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	Par plus triple any positive return on index, capped at 33%; full exposure to any loss
Initial index level:	3,539.77
Pricing date:	May 22
Underwriters:	UBS Investment Bank, UBS Financial Services Inc.

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