New Issue: UBS sells $1.58 million return optimization notes linked to gold price

By Susanna Moon

Chicago, July 20 - UBS AG priced $1.58 million of 0% return optimization securities with partial protection due July 26, 2010 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any index gain, up to a maximum gain of $12.70 per note.

Investors will be exposed to any losses.

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

Issuer:	UBS AG
Issue:	Return optimization securities with partial protection
Underlying commodity:	Gold
Amount:	$1,583,000
Maturity:	July 26, 2010
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any gain in the price of gold, capped at 27%; exposure to losses
Initial price:	$935.29
Pricing date:	July 16
Settlement date:	July 21
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	1.25%

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