New Issue: UBS prices $4.1 million performance securities linked to UBS Bloomberg Constant Maturity

By Jennifer Chiou

New York, May 29 - UBS AG priced $4.1 million of 0% performance securities with partial protection due May 31, 2012 linked to the UBS Bloomberg Constant Maturity Commodity Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any index gain multiplied by the 112% participation rate. Investors will receive par if the index declines by 15% or less and will lose 1% for each 1% that the index declines beyond 15%.

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

Issuer:	UBS AG
Issue:	Performance securities with partial protection
Underlying index:	UBS Bloomberg Constant Maturity Commodity Index Excess Return
Amount:	$4,100,850
Maturity:	May 31, 2012
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	Par plus any index gain multiplied by the 112% participation rate; investors will receive par if the index declines by 15% or less and will lose 1% for each 1% that the index declines beyond 15%
Initial index level:	1,492.62
Pricing date:	May 27
Settlement date:	May 30
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	3%

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