New Issue: UBS prices $3.27 million 10.17% yield optimization notes linked to Hewlett-Packard

By E. Janene Geiss

Philadelphia, Oct. 29 - UBS AG priced a $3.27 million issue of 10.17% yield optimization notes due Oct. 31, 2008 linked to the common stock of Hewlett-Packard Co., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The payout at maturity will be par of $51.39 unless the stock falls below the trigger price of $38.54 - 75% of the initial share price - during the life of the notes, in which case the payout will be one share of Hewlett-Packard stock per note.

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

Issuer:	UBS AG
Issue:	Yield optimization notes with contingent protection
Underlying stock:	Hewlett-Packard Co. (NYSE: HPQ)
Amount:	$3,267,068
Maturity:	Oct. 31, 2008
Coupon:	10.17%, payable quarterly
Price:	Par of $51.39
Payout at maturity:	Par unless the stock falls below the trigger price during the life of the notes, in which case payout will be one Hewlett-Packard share per note
Initial share price:	$51.39
Trigger price:	$38.54, 75% of initial share price
Pricing date:	Oct. 25
Settlement date:	Oct. 31
Underwriters:	UBS Investment Bank and UBS Financial Services Inc.
Fees:	2%

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