New Issue: UBS prices $399,682 8.06% trigger yield optimization notes linked to HollyFrontier

New York, July 24 - UBS AG, London Branch priced $399,682.92 of 8.06% trigger yield optimization notes due July 29, 2014 linked to the common stock of HollyFrontier Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The face amount of each note is $43.06, which is equal to the initial share price of HollyFrontier stock.

Interest is payable monthly.

The payout at maturity will be par unless the final price of HollyFrontier stock is less than 76% of the initial share price, in which case investors will receive one HollyFrontier share per note.

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

Issuer:	UBS AG, London Branch
Issue:	Trigger yield optimization notes
Underlying stock:	HollyFrontier Corp. (NYSE: HFC)
Amount:	$399,682.92
Maturity:	July 29, 2014
Coupon:	8.06%, payable monthly
Price:	Par of $43.06
Payout at maturity:	If final share price is less than trigger price, one HollyFrontier share; otherwise, par
Initial share price:	$43.06
Trigger price:	$32.73, 76% of initial price
Pricing date:	July 24
Settlement date:	July 29
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2%
Cusip:	90271Q352

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