New Issue: UBS prices $10.47 million 14% single observation ELKS linked to Las Vegas Sands

By Jennifer Chiou

New York, June 18 - UBS AG, London Branch priced $10,468,080 of 14% annualized single observation Equity LinKed Securities due Dec. 20, 2012 linked to the common stock of Las Vegas Sands Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par of $10 in cash unless the final price of Las Vegas Sands shares is less than 75% of the initial price, in which case the payout will be a number Las Vegas Sands shares equal to $10 divided by the initial share price.

UBS Securities LLC is the underwriter.

Issuer:	UBS AG, London Branch
Issue:	Single observation Equity LinKed Securities
Underlying stock:	Las Vegas Sands Corp. (NYSE: LVS)
Amount:	$10,468,080
Maturity:	Dec. 20, 2012
Coupon:	14%, payable monthly
Price:	Par of $10
Payout at maturity:	Par unless final price of Las Vegas Sands shares is less than 75% of initial price, in which case 0.22134 Las Vegas Sands shares
Initial share price:	$45.18
Threshold price: $33.89, 75% of initial price
Pricing date:	June 15
Settlement date:	June 20
Underwriter:	UBS Securities LLC
Fees:	1.5%
Cusip:	90268U481

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