New Issue: UBS prices $6.07 million 12.56% yield optimization notes linked to Starwood

By Angela McDaniels

Tacoma, Wash., Nov. 17 - UBS AG, London Branch priced $6.07 million of yield optimization notes with contingent protection due May 20, 2011 linked to the common stock of Starwood Hotels & Resorts Worldwide, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes carry an annualized coupon of 12.56%. Interest is payable monthly.

The notes have a face value of $55.71 each, which is the initial share price of Starwood stock.

The payout at maturity will be par unless the final price of Starwood stock is less than 80% of the initial share price, in which case the payout will be one share of Starwood stock per note.

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

Issuer:	UBS AG, London Branch
Issue:	Yield optimization notes with contingent protection
Underlying stock:	Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT)
Amount:	$6,070,855.83
Maturity:	May 20, 2011
Coupon:	12.56%, payable monthly
Price:	Par of $55.71
Payout at maturity:	If final price of Starwood stock is less than trigger price, one Starwood share; otherwise, par
Initial share price:	$55.71
Trigger price	$44.57, 80% of initial price
Pricing date:	Nov. 15
Settlement date:	Nov. 18
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	1%
Cusip:	90267F824

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