UBS Declares Coupon Payments on Four Monthly Pay ETRACS Exchange Traded Notes

  UBS Declares Coupon Payments on Four Monthly Pay ETRACS Exchange Traded
  Notes

- RWXL: linked to the Dow Jones Global ex-U.S. Select Real Estate Securities
Index

- DVYL: linked to the Dow Jones U.S. Select Dividend Index

- SDYL: linked to the S&P High Yield Dividend Aristocrats Index

- MORL: linked to the Market Vectors Global Mortgage REITs Index

Business Wire

NEW YORK -- November 05, 2012

UBS Investment Bank  today announced coupon payments for four ETRACS
exchange-traded notes (the “ETNs”), all traded on the NYSE Arca. The relevant
coupon information is provided in the table below:

NYSE    ETN            Valuation  Ex-      Record    Payment   Coupon   Payment   Current Yield
Ticker   Name            Date        Date      Date       Date       Amount    Schedule   (annualized)*
                                                                                          
         ETRACS
         Monthly
         Pay
RWXL     2xLeveraged     10/31/12    11/8/12   11/13/12   11/21/12   $0.0865   Monthly    3.47%
         Dow Jones
         International
         Real
         Estate ETN
                                                                                          
         ETRACS
         Monthly
         Pay
DVYL     2xLeveraged     10/31/12    11/8/12   11/13/12   11/21/12   $0.0930   Monthly    3.99%
         Dow Jones
         Select
         Dividend
         Index ETN
                                                                                          
         ETRACS
         Monthly
SDYL     Pay             10/31/12    11/8/12   11/13/12   11/21/12   $0.1037   Monthly    4.38%
         2xLeveraged
         S&P Dividend
         ETN
                                                                                          
         ETRACS
         Monthly
MORL**   Pay             10/31/12    11/8/12   11/13/12   11/21/12   $0.0000   Monthly    0.00%
         2xLeveraged
         Mortgage REIT
         ETN

* “Current Yield”, for each ETN, equals the current Coupon Amount annualized
and divided by the closing price of the ETN on its current Coupon Valuation
Date, or, if the closing price is not available on that date, then the
previous available closing price, and rounded to two decimal places for ease
of analysis. The Current Yield is not indicative of future coupon payments, if
any, on the ETNs. You are not guaranteed any coupon or distributionamount
under the ETNs.

** MORL launched on October 17, 2012.

Note: RWXL, DVYL, SDYL and MORL pay a variable monthly coupon linked to 2
times the cash distributions, if any, on the respective underlying index
constituents, less withholding taxes, if any. Variations in the amount of
monthly distributions will lead to large variations in the Current Yield as
calculated above. As such, the Current Yield for each is not indicative of
future coupon payments, if any, on these ETNs.

About ETRACS

For further information about ETRACS ETNs, go to http://www.etracs.com.

Exchange Traded Access Securities ETNs (“ETRACS ETNs”), are exchange-traded
notes, an innovative class of investment products offering access to markets
and strategies that may not be readily available to investors, and offer
unique diversification opportunities in a number of different sectors. ETRACS
ETNs may offer:

  *Access to asset classes with historically low correlations to more
    traditional asset classes
  *Convenience of an exchange-traded security
  *Transparent exposure to a published index

ETRACS ETNs are senior unsecured notes issued by UBS AG, are traded on NYSE
Arca, and can be bought and sold through a broker or financial advisor. An
investment in ETRACS ETNs is subject to a number of risks, including the risk
of loss of some or all of the investor’s principal, and is subject to the
creditworthiness of UBS AG. You are not guaranteed any coupon or distribution
amount under the ETNs. We urge you to read the more detailed explanation of
risks described under “Risk Factors” in the product supplement and pricing
supplement for the ETRACS ETN.

This material is issued by UBS AG or an affiliate thereof ("UBS"). Products
and services mentioned in this publication may not be available for residents
of certain jurisdictions. Past performance is not necessarily indicative of
future results. Please consult the restrictions relating to the product or
service in question for further information. Activities with respect to US
securities are conducted through UBS Securities LLC, a US broker/dealer.
Member of SIPC http://www.sipc.org/).

ETRACS ETNs are sold only in conjunction with the relevant offering materials.
UBS has filed a registration statement (including a prospectus, as
supplemented by a product supplement and pricing supplement for the offering
of the ETRACS ETNs) with the Securities and Exchange Commission (the "SEC")
for the offering to which this communication relates. Before you invest, you
should read these documents and any other documents that UBS has filed with
the SEC for more complete information about UBS and the offering to which this
communication relates. You may get these documents for free by visiting EDGAR
on the SEC website at www.sec.gov. Alternatively, you can request the
prospectus and the applicable product supplement and pricing supplement by
calling toll-free (+1-877-387 2275). In the US, securities underwriting,
trading and brokerage activities and M&A advisor activities are provided by
UBS Securities LLC, a registered broker/dealer that is a wholly owned
subsidiary of UBS AG, a member of the New York Stock Exchange and other
principal exchanges, and a member of SIPC. UBS Financial Services Inc. is a
registered broker/dealer and affiliate of UBS Securities LLC.

Neither the ETRACS Monthly Pay 2xLeveraged Dow Jones International Real Estate
ETN nor the ETRACS Monthly Pay 2xLeveraged Dow Jones Select Dividend Index ETN
are sponsored, endorsed, sold or promoted by Dow Jones, CME or their
respective affiliates. Dow Jones, CME and their respective affiliates make no
representation or warranty, express or implied, to the owners of the ETRACS
Monthly Pay 2xLeveraged Dow Jones International Real Estate ETN, the ETRACS
Monthly Pay 2xLeveraged Dow Jones Select Dividend Index ETN or any member of
the public regarding the advisability of trading in the Product(s). Dow
Jones', CME’s and their respective affiliates’ only relationship to the
Licensee is the licensing of certain trademarks and trade names of Dow Jones,
the Dow Jones Global ex-U.S. Select Real Estate Securities Index, and the Dow
Jones U.S. Select Dividend Index which are determined, composed and calculated
by CME without regard to UBS AG, the ETRACS Monthly Pay 2xLeveraged Dow Jones
International Real Estate ETN or the ETRACS Monthly Pay 2xLeveraged Dow Jones
Select Dividend Index ETN. Dow Jones and CME have no obligation to take the
needs of UBS AG or the owners of the ETRACS Monthly Pay 2xLeveraged Dow Jones
International Real Estate ETN or the ETRACS Monthly Pay 2xLeveraged Dow Jones
Select Dividend Index ETN into consideration in determining, composing or
calculating “Dow Jones Global ex-U.S. Select Real Estate Securities Index^SM”
or the “Dow Jones U.S. Select Dividend Index^SM”. Dow Jones, CME and their
respective affiliates are not responsible for and have not participated in the
determination of the timing of, prices at, or quantities of the ETRACS Monthly
Pay 2xLeveraged Dow Jones International Real Estate ETN or the ETRACS Monthly
Pay 2xLeveraged Dow Jones Select Dividend Index ETN to be sold or in the
determination or calculation of the equation by which the ETRACS Monthly Pay
2xLeveraged Dow Jones International Real Estate ETN or the ETRACS Monthly Pay
2xLeveraged Dow Jones Select Dividend Index ETN are to be converted into cash.
Dow Jones, CME and their respective affiliates have no obligation or liability
in connection with the administration, marketing or trading of the ETRACS
Monthly Pay 2xLeveraged Dow Jones International Real Estate ETN or the ETRACS
Monthly Pay 2xLeveraged Dow Jones Select Dividend Index ETN. Notwithstanding
the foregoing, CME Group Inc. and its affiliates may independently issue
and/or sponsor financial products unrelated to the ETRACS Monthly Pay
2xLeveraged Dow Jones International Real Estate ETN or the ETRACS Monthly Pay
2xLeveraged Dow Jones Select Dividend Index ETN currently being issued by UBS
AG, but which may be similar to and competitive with the ETRACS Monthly Pay
2xLeveraged Dow Jones International Real Estate ETN or ETRACS Monthly Pay
2xLeveraged Dow Jones Select Dividend Index ETN.In addition, CME Group Inc.
and its affiliates may trade financial products which are linked to the
performance of the Dow Jones Global ex-U.S. Select Real Estate Securities
Index^SM or the Dow Jones U.S. Select Dividend Index^SM. It is possible that
this trading activity will affect the value of the Dow Jones Global ex-U.S.
Select Real Estate Securities Index^SM , the Dow Jones U.S. Select Dividend
Index^SM, the ETRACS Monthly Pay 2xLeveraged Dow Jones International Real
Estate ETN, or the ETRACS Monthly Pay 2xLeveraged Dow Jones Select Dividend
Index ETN. DOW JONES, CME AND THEIR RESPECTIVE AFFILIATES DO NOT GUARANTEE THE
ACCURACY AND/OR THE COMPLETENESS OF THE DOW JONES GLOBAL EX-U.S. SELECT REAL
ESTATE SECURITIES INDEX^SM, THE DOW JONES U.S. SELECT DIVIDEND INDEX^SM OR ANY
DATA INCLUDED THEREIN AND DOW JONES, CME AND THEIR RESPECTIVE AFFILIATES SHALL
HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN. DOW
JONES, CME AND THEIR RESPECTIVE AFFILIATES MAKE NO WARRANTY, EXPRESS OR
IMPLIED, AS TO RESULTS TO BE OBTAINED BY UBS AG, OWNERS OF THE ETRACS MONTHLY
PAY 2XLEVERAGED DOW JONES INTERNATIONAL REAL ESTATE ETN, THE ETRACS MONTHLY
PAY 2XLEVERAGED DOW JONES SELECT DIVIDEND INDEX ETN, OR ANY OTHER PERSON OR
ENTITY FROM THE USE OF THE DOW JONES GLOBAL EX-U.S. SELECT REAL ESTATE
SECURITIES INDEX THE DOW JONES U.S. SELECT DIVIDEND INDEX^SM OR ANY DATA
INCLUDED THEREIN. DOW JONES, CME AND THEIR RESPECTIVE AFFILIATES MAKE NO
EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES, OF
MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE
DOW JONES GLOBAL EX-U.S. SELECT REAL ESTATE SECURITIES INDEX^SM, THE DOW JONES
U.S. SELECT DIVIDEND INDEX^SM OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING
ANY OF THE FOREGOING, IN NO EVENT SHALL DOW JONES, CME OR THEIR RESPECTIVE
AFFILIATES HAVE ANY LIABILITY FOR ANY LOST PROFITS OR INDIRECT, PUNITIVE,
SPECIAL OR CONSEQUENTIAL DAMAGES OR LOSSES, EVEN IF NOTIFIED OF THE
POSSIBILITY OF SUCH DAMAGES. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY
AGREEMENTS OR ARRANGEMENTS BETWEEN CME AND UBS AG, OTHER THAN THE LICENSORS OF
CME.

Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill
Companies, Inc. (“S&P”) and UBS AG have entered into a non-exclusive license
agreement providing for the license to UBS, and certain of its affiliates, in
exchange for a fee, of the right to use the S&P High Yield Dividend
Aristocrats® Index, in connection with securities, including the ETNs. The S&P
High Yield Dividend Aristocrats® Index is owned and published by S&P. The ETNs
are not sponsored, endorsed, sold or promoted by S&P or its third party
licensors. Neither S&P nor its third party licensors make any representation
or warranty, express or implied, to the owners of the ETNs or any member of
the public regarding the advisability of investing in securities generally or
in the ETNs particularly or the ability of the S&P High Yield Dividend
Aristocrats® Index to track general stock market performance. S&P’s and its
third party licensor’s only relationship to UBS AG is the licensing of certain
trademarks and trade names of S&P and the third party licensors and of the S&P
High Yield Dividend Aristocrats® Index which is determined, composed and
calculated by S&P or its third party licensors without regard to UBS AG or the
ETNs. S&P and its third party licensors have no obligation to take the needs
of UBS AG or the owners of the ETNs into consideration in determining,
composing or calculating the S&P High Yield Dividend Aristocrats® Index.
Neither S&P nor its third party licensors is responsible for and has not
participated in the determination of the prices and amount of the ETNs or the
timing of the issuance or sale of the ETNs or in the determination or
calculation of the equation by which the ETNs is to be converted into cash.
S&P has no obligation or liability in connection with the administration,
marketing or trading of the ETNs. NEITHER S&P, ITS AFFILIATES NOR THEIR THIRD
PARTY LICENSORS GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS OR COMPLETENESS
OF THE S&P HIGH YIELD DIVIDEND ARISTOCRATS® INDEX OR ANY DATA INCLUDED THEREIN
OR ANY COMMUNICATIONS, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN
COMMUNICATIONS (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO.
S&P, ITS AFFILIATES AND THEIR THIRD PARTY LICENSORS SHALL NOT BE SUBJECT TO
ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS OR DELAYS THEREIN. S&P
MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES
OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO
THE MARKS, THE S&P HIGH YIELD DIVIDEND ARISTOCRATS® INDEX OR ANY DATA INCLUDED
THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL
S&P, ITS AFFILIATES OR THEIR THIRD PARTY LICENSORS BE LIABLE FOR ANY INDIRECT,
SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES, INCLUDING BUT NOT
LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF
THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN
CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE.

The ETRACS Monthly Pay 2xLeveraged Mortgage REIT ETN (“ETN”) is not sponsored,
endorsed, sold or promoted by Market Vectors Index Solutions GmbH (“Licensor”)
and Licensor makes no representation or warranty, express or implied, to the
owners of the ETN or any member of the public regarding the advisability of
investing in securities generally or in the ETN particularly or the ability of
the Market Vectors® Global Mortgage REITs Index to track the performance of
the mortgage REIT market.

Market Vectors® Global Mortgage REITs Index (the “Index”) is the exclusive
property of Market Vectors Index Solutions GmbH, which has contracted with
Structured Solutions AG to maintain and calculate the Index. Structured
Solutions AG uses its best efforts to ensure that the Index is calculated
correctly. Irrespective of its obligations towards the Market Vectors Index
Solutions GmbH, Structured Solutions AG has no obligation to point out errors
in the Index to third parties including but not limited to investors and/or
financial intermediaries of the financial instrument. The ETN is not
sponsored, promoted, sold or supported in any other manner by Structured
Solutions AG nor does Structured Solutions AG offer any express or implicit
guarantee or assurance either with regard to the results of using the Index
and/or Index trade mark or the Index Price at any time or in any other
respect. Neither publication of the Index by Structured Solutions AG nor the
licensing of the Index or Index trade mark for the purpose of use in
connection with the financial instrument constitutes a recommendation by
Structured Solutions AG to invest capital in said financial instrument nor
does it in any way represent an assurance or opinion of Structured Solutions
AG with regard to any investment in this financial instrument. Structured
Solutions AG is not responsible for fulfilling the legal requirements
concerning the accuracy and completeness of the financial instrument’s
prospectus.

The ETN is not sponsored, endorsed, sold or promoted by Van Eck Associates
Corporation (“Van Eck”). Van Eck makes no representation or warranty, express
or implied, nor accepts any responsibility, regarding the accuracy or
completeness of this Informational Material, or the advisability of investing
in securities or financial instruments, or in the ETN.

VAN ECK AND ITS AFFILIATES DO NOT GUARANTEE THE ACCURACY AND/OR COMPLETENESS
OF THE INDEX OF ANY DATA INCLUDED THEREIN AND SHALL NOT HAVE ANY LIABILITY FOR
ANY ERRORS, OMISSIONS, OR INTERRUPTIONS, AND MAKES NO WARRANTY, EXPRESS OR
IMPLIED, AS TO RESULTS TO BE OBTAINED BY OWNERS OF, ETN, OR ANY OTHER PERSON
OR ENTITY FROM THE USE OF THE ETN. WITHOUT LIMITING ANY OF THE FOREGOING, IN
NO EVENT SHALL VAN ECK OR ANY OF ITS AFFILIATES HAVE ANY LIABILITY FOR ANY
LOST PROFITS OR INDIRECT, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES OR
LOSSES, EVEN IF NOTIFIED OF THE POSSIBILITY THEREOF.

UBS specifically prohibits the redistribution or reproduction of this material
in whole or in part without the prior written permission of UBS and UBS
accepts no liability whatsoever for the actions of third parties in this
respect. © UBS 2012. The key symbol, UBS and ETRACS are among the registered
and unregistered trademarks of UBS. The “Dow Jones Global ex-U.S. Select Real
Estate Securities Index^SM” and the “Dow Jones U.S. Select Dividend Index^SM”
are products of Dow Jones Indexes and marketing names and licensed trademarks
of CME Indexes, and have been licensed for use. “Dow Jones®”, “Dow Jones
Global ex-U.S. Select Real Estate Securities Index^SM”, “Dow Jones U.S. Select
Dividend Index^SM” and “Dow Jones Indexes” are service marks of Dow Jones
Trademark Holdings, LLC (“Dow Jones”) and have been licensed for use for
certain purposes by UBS AG.“S&P®”, “Standard & Poor’s®”, “S&P 500®”, “S&P
500® Dividend Aristocrats®” and “Dividend Aristocrats®” are trademarks of
Standard & Poor’s Financial Services LLC and have been licensed for use by
UBS. The Securities are not sponsored, endorsed, sold or promoted by S&P and
S&P makes no representation regarding the advisability of investing in the
Securities.Other marks may be trademarks of their respective owners. All
rights reserved.

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Notes to Editors

UBS draws on its 150-year heritage to serve private, institutional and
corporate clients worldwide, as well as retail clients in Switzerland. We
combine our wealth management, investment banking and asset management
businesses with our Swiss operations to deliver superior financial solutions.

UBS is present in all major financial centers worldwide. It has offices in
over 50 countries, with about 37% of its employees working in the Americas,
37% in Switzerland, 16% in the rest of Europe and 10% in Asia Pacific. UBS
employs about 65,000 people around the world. Its shares are listed on the SIX
Swiss Exchange and the New York Stock Exchange (NYSE).

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