New Issue: UBS prices $1.39 million 8.78% yield optimization notes linked to Amgen

By E. Janene Geiss

Philadelphia, Aug. 29 - UBS AG priced a $1,391,579 issue of 8.78% yield optimization notes due Aug. 29, 2008 linked to the common stock of Amgen Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The payout at maturity will be par of $49.92 unless Amgen stock falls below the trigger price of $37.44 during the life of the notes - 75% of the initial share price - in which case the payout will be one share of Amgen stock.

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

Issuer:	UBS AG
Issue:	Yield optimization notes with contingent protection
Underlying stock:	Amgen Inc. (Nasdaq: AMGN)
Amount:	$1,391,579
Maturity:	Aug. 29, 2008
Coupon:	8.78%, payable quarterly
Price:	Par of $49.92
Payout at maturity:	Par unless Amgen stock falls below the trigger price during the life of the notes, in which case payout will be one Amgen share
Initial share price:	$49.92
Trigger price:	$37.44, 75% of initial share price
Pricing date:	Aug. 27
Settlement date:	Aug. 31
Underwriters:	UBS Investment Bank and UBS Financial Services Inc.
Fees:	2%

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