New Issue: UBS prices $3.37 million 12.5% yield optimization notes linked to Toll Brothers

By Susanna Moon

Chicago, Oct. 23 - UBS AG priced a $3.37 million issue of 12.5% yield optimization notes due April 23, 2008 linked to the common stock of Toll Brothers Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The payout at maturity will be par of $20.52 unless the stock falls below the trigger price of $10.26 - 50% of the initial share price - during the life of the notes, in which case the payout will be one share of Toll Brothers stock per note.

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

Issuer:	UBS AG
Issue:	Yield optimization notes with contingent protection
Underlying stock:	Toll Brothers Inc. (NYSE: TOL)
Amount:	$3,367,414
Maturity:	April 23, 2008
Coupon:	12.5%, payable quarterly
Price:	Par of $20.52
Payout at maturity:	Par unless the stock falls below the trigger price during the life of the notes, in which case payout will be one Toll Brothers share per note
Initial share price:	$20.52
Trigger price:	$10.26, 50% of initial share price
Pricing date:	Oct. 19
Settlement date:	Oct. 24
Underwriters:	UBS Investment Bank and UBS Financial Services Inc.
Fees:	1%

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