UBS Announces Effective Time for Consent Solicitation Regarding Exchange Traded Note Linked to the UBS Bloomberg Constant

  UBS Announces Effective Time for Consent Solicitation Regarding Exchange
  Traded Note Linked to the UBS Bloomberg Constant Maturity Commodity Index
  Total Return Due 2038: UCI

Business Wire

NEW YORK -- November 07, 2012

UBS AG (“UBS”) announced today that, pursuant to the terms of the consent
solicitation (the “Consent Solicitation”) for its Exchange Traded Access
Securities (ETRACS) linked to the UBS Bloomberg Constant Maturity Commodity
Index Total Return due 2038, CUSIP No. 902641778 (the “Securities”) launched
on October 16, 2012, it has declared 5:00, p.m., New York City time, on
November 7, 2012 to be the “Effective Time” (as that term is defined in the
Consent Solicitation Statement, dated October 16, 2012, related to the Consent
Solicitation).

Inquiries regarding the Consent Solicitation should be directed to UBS
Securities LLC, at its address and telephone number below.

    UBS Securities LLC, the Solicitor for the Consent Solicitation can be
                                contacted at:

                              UBS Securities LLC

                         1285 Avenue of the Americas

                           New York, New York 10019

                                 Attn: ETRACS

                          Toll-Free: 1-877-387-2275

                                www.etracs.com

About ETRACS

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

Exchange Traded Access Securities, ETRACS, are exchange-traded notes (ETNs),
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. ETNs 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. We urge you to read the more detailed explanation
of risks described under “Risk Factors” in the prospectus 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/).

The contents of any website referred to in this communication are not part of,
or incorporated by reference in, this communication. UBS has filed a
registration statement (including a prospectus, as supplemented by a
prospectus supplement for the offerings of the ETRACS ETNs) with the
Securities and Exchange Commission (the “SEC”) for the offerings 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
prospectus supplement by calling toll-free (+1.877.387.2275).

THE INDEX SPONSORS DO NOT GUARANTEE THE QUALITY, ACCURACY AND/OR THE
COMPLETENESS OF THE INDEX OR ANY DATA INCLUDED THEREIN AND SHALL NOT HAVE ANY
LIABILITY FOR ANY DATA INCLUDED THEREIN OR FOR ANY ERRORS, OR OMISSIONS OR
INTERRUPTIONS IN THE CALCULATION AND/OR DISSEMINATION OF THE INDEX. THE INDEX
SPONSORS MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY
UBS AG, OWNERS OF THE SECURITIES OR ANY OTHER PERSON OR ENTITY FROM THE USE OF
THE INDEX OR ANY DATA INCLUDED THEREIN OR FROM ANY OTHER USE (WHETHER DIRECTLY
OR VIA ANY PRODUCT REFERENCED THERETO). THE INDEX SPONSORS MAKE NO EXPRESS OR
IMPLIED WARRANTIES, AND TO THE EXTENT PERMITTED BY LAW HEREBY EXPRESSLY
DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE
OR USE WITH RESPECT TO THE INDEX OR ANY DATA INCLUDED THEREIN. WITHOUT
LIMITING ANY OF THE FOREGOING, TO THE EXTENT PERMITTED BY LAW, THE INDEX
SPONSORS DISCLAIM ANY LIABILITY FOR ANY PUNITIVE, INDIRECT, SPECIAL, OR
CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), 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. “UBS Bloomberg Constant Maturity Commodity
Index” and “CMCI” are service marks of UBS and/or Bloomberg. Other marks may
be trademarks of their respective owners. All rights reserved. US patent
pending. UBS assumes sole responsibility for this press release, which has not
been reviewed by Bloomberg.

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. Its
business strategy is centered on its pre-eminent global wealth management
businesses and its universal bank in Switzerland. Together with a
client-focused Investment Bank and a strong, well-diversified Global Asset
Management business, UBS will expand its premier wealth management franchise
and drive further growth across the Group.

UBS is present in all major financial centers worldwide. It has offices in
more than 50 countries, with about 35% of its employees working in the
Americas, 36% in Switzerland, 17% in the rest of Europe, the Middle East and
Africa and 12% in Asia Pacific. UBS employs about 64,000 people around the
world. Its shares are listed on the SIX Swiss Exchange and the New York Stock
Exchange (NYSE).

www.ubs.com/media

Contact:

Media Enquiries
UBS AG
New York:
Megan Stinson, +1 212-713-1302
or
Judi Flynn-Echeverria, + 1 917-902-9726
 
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