New Issue: UBS prices $26.39 million 9% yield optimization notes linked to GE

By Susanna Moon

Chicago, Aug. 21 - UBS AG priced a $26,385,544 offering of 9% yield optimization notes due Aug. 25, 2008 linked to the common stock of General Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The payout at maturity will be par of $38.45 unless General Electric stock falls below the trigger price of $28.84 during the life of the notes - 75% of the initial share price - in which case the payout will be one share of General Electric stock.

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

Issuer:	UBS AG
Issue:	Yield optimization notes with contingent protection
Underlying stock:	General Electric Co. (NYSE: GE)
Amount:	$26,385,544
Maturity:	Aug. 25, 2008
Coupon:	9%, payable quarterly
Price:	Par of $38.45
Payout at maturity:	Par unless General Electric stock falls below the trigger price during the life of the notes, in which case payout will be one General Electric share
Initial share price:	$38.45
Trigger price:	$28.84, 75% of initial share price
Pricing date:	Aug. 17
Settlement date:	Aug. 23
Underwriters:	UBS Investment Bank and UBS Financial Services Inc.
Fees:	2%

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