New Issue: UBS sells $3.39 million trigger autocallable securities tied to Energy Select SPDR fund

By Toni Weeks

San Diego, Aug. 23 - UBS AG, London Branch priced $3.39 million of 0% trigger autocallable optimization securities due Aug. 27, 2012 linked to the Energy Select SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the closing share price is greater than the initial price on any quarterly observation date, the notes will be called at par plus an annualized call return of 20.5%.

If the notes are not called and the final price is greater than or equal to 75% of the initial level, the payout at maturity will be par. Otherwise, investors will share fully in losses.

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

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable optimization securities
Underlying fund:	Energy Select SPDR
Amount:	$3,388,300
Maturity:	Aug. 27, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	If final price level is at least 75% of initial level, par; otherwise, exposure to losses
Initial price:	$63.24
Trigger level:	$47.43, 75% of initial
Call option:	Par plus 20.5% per year if price closes at or above the initial share price on any quarterly observation date
Pricing date:	Aug. 19
Settlement date:	Aug. 24
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	1.5%
Cusip:	90268C408

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