New Issue: UBS sells $1.5 million 15.25% yield optimization notes linked to Temple-Inland

By Susanna Moon

Chicago, June 1 - UBS AG, London Branch priced $1.5 million of 15.25% yield optimization notes with contingent protection due June 7, 2011 based on Temple-Inland Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Each note has a face value of $19.81, which is equal to the closing price of Temple-Inland stock on the pricing date.

Interest is payable monthly.

The payout at maturity will be par unless the final price of Temple-Inland stock is less than 70% of the initial share price, in which case the payout will be one share of Temple-Inland stock.

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:	Temple-Inland Inc. (NYSE: TIN)
Amount:	$1,499,993.39
Maturity:	June 7, 2011
Coupon:	15.25%, payable monthly
Price:	Par of $19.81
Payout at maturity:	If final share price is less than trigger price, one Temple-Inland share; otherwise, par
Initial share price:	$19.81
Trigger price:	$13.87, or 70% of initial price
Pricing date:	June 1
Settlement date:	June 4
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	1.5%
Cusip:	90267C367

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