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Published on 12/10/2007 in the Prospect News Structured Products Daily.

New Issue: UBS prices $14.28 million 9.23% yield optimization notes linked to SPDRs

By Laura Lutz

Des Moines, Dec. 10 - UBS AG priced $14.28 million of 9.23% yield optimization notes with contingent protection due June 11, 2008 linked to S&P Depositary Receipts (SPDRs), according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

Each note has a principal amount of $150.94, equal to the initial price of one SPDR.

If the SPDRs fall below the trigger price - 75% of the initial price - during the life of the notes, the payout at maturity will be one SPDR per note. If the SPDRs remain at or above the trigger price, the payout will be par.

UBS Financial Services Inc. is the underwriter.

Issuer:UBS AG
Issue:Yield optimization notes with contingent protection
Underlying shares:S&P Depositary Receipts (SPDRs)
Amount:$14,276,962
Maturity:June 11, 2008
Coupon:9.23%, payable quarterly
Price:Par of $150.94
Payout at maturity:If SPDRs fall below trigger price during life of notes, one SPDR per note; otherwise, par
Initial price:$150.94
Trigger price:$113.21, 75% of initial price
Pricing date:Dec. 6
Settlement date:Dec. 11
Underwriter:UBS Financial Services Inc.
Fees:1%

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