New Issue: UBS prices $0.26 million 21% reverse convertibles linked to Las Vegas Sands

New York, Dec. 30 - UBS AG priced $0.261 million of 21% reverse convertible notes due March 31, 2010 linked to Las Vegas Sands Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Las Vegas Sands shares fall below the protection price of $10.65, 70% of the initial price of $15.21, during the life of the notes and finish below the initial price in which case the payout will be 65.7462 shares of Las Vegas Sands stock.

UBS Securities LLC is the agent.

Issuer:	UBS AG
Issue:	Reverse convertible notes
Underlying stock:	Las Vegas Sands Corp. (Symbol: LVS)
Amount:	$0.261 million
Maturity:	March 31, 2010
Coupon:	21%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Las Vegas Sands shares fall below the protection price of $10.65, 70% of the initial price, and finish below the initial price, in which case 65.7462 shares of Las Vegas Sands stock
Initial price:	$15.21
Protection price:	$10.65, 70% of $15.21
Exchange ratio:	65.7462
Pricing date:	Dec. 28
Settlement date:	Dec. 31
Agent:	UBS Securities LLC
Fees:	2%

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