New Issue: UBS sells $1.5 million 13.29% six-month reverse convertibles on Cisco

By Susanna Moon

Chicago, Nov. 15 - UBS AG, London Branch priced $1.5 million of 13.29% annualized reverse convertible notes due May 19, 2011 linked to Cisco Systems, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Cisco shares fall below the protection price - 80% of the initial price - during the life of the notes and finish below the initial price in which case the payout will be a number of Cisco shares equal to $1,000 divided by the initial share price.

UBS Securities LLC and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Reverse convertible notes
Underlying stock:	Cisco Systems, Inc. (Symbol: CSCO)
Amount:	$1.5 million
Maturity:	May 19, 2011
Coupon:	13.29%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless the stock falls below the protection price and finish below the initial price, in which case 49.6278 Cisco shares
Initial price:	$20.15
Protection price:	$16.12, 80% of initial price
Pricing date:	Nov. 12
Settlement date:	Nov. 19
Agents:	UBS Securities LLC, UBS Investment Bank
Fees:	0.5%
Cusip:	902674CC2

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