New Issue: UBS prices $8.59 million 13.3% yield optimization notes linked to Citigroup

By Angela McDaniels

Tacoma, Wash., May 18 - UBS AG, London Branch priced $8.59 million of 13.3% yield optimization notes with contingent protection due May 23, 2012 linked to the common stock of Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

Each note has a face value of $3.86, which is equal to the closing price of Citigroup stock on the pricing date.

The payout at maturity will be par unless the final price of Citigroup stock is less than 75% of the initial share price, in which case the payout will be one share of Citigroup stock.

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

Issuer:	UBS AG, London Branch
Issue:	Yield optimization notes with contingent protection
Underlying stock:	Citigroup Inc. (Symbol: C)
Amount:	$8,591,603
Maturity:	May 23, 2012
Coupon:	13.3%, payable monthly
Price:	Par of $3.86
Payout at maturity:	If final share price is less than trigger price, one Citigroup share; otherwise, par
Initial share price:	$3.86
Trigger price:	$2.90, 75% of initial price
Pricing date:	May 17
Settlement date:	May 20
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2.75%
Cusip:	90267C292

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