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Call Returns/Call Prices for Each Offering of the Securities

Securities linked to

the common stock

of Caterpillar Inc.

Securities linked to

the common stock

of Citigroup Inc.

Securities linked to

the common stock

of Southwestern Energy Company

Observation Dates

Call Settlement Dates

Call Return (numbers below assume a rate of 10.50%*

per annum)

Call Price

(per $10)

Call Return (numbers below assume a rate of 12.00%*

per annum)

Call Price

(per $10)

Call Return (numbers below assume a rate of 11.625%*

per annum)

Call Price

(per $10)

November 23, 2012

November 27, 2012

2.625%

$10.2625

3.00%

$10.30

2.906%

$10.2906

February 25, 2013

February 27, 2013

5.250%

$10.5250

6.00%

$10.60

5.813%

$10.5813

May 23, 2013

May 28, 2013

7.875%

$10.7875

9.00%

$10.90

8.719%

$10.8719

August 26, 2013

(Final Valuation Date)

August 30 2013

(Maturity Date)

10.500%

$11.0500

12.00%

$11.20

11.625%

$11.1625

See footnote 2 under "Key Dates" on the cover

*

The actual Call Return rate for each Security will be set on the

Trade Date and will be between 9.00% and 12.00% per annum for

Securities linked to the common stock of Caterpillar Inc., between

10.00% and 14.00% per annum for Securities linked to the common stock

of Citigroup Inc. and between 10.00% and 13.25% per annum for

Securities linked to the common stock of Southwestern Energy Company.

If the actual Call Return rate for any Security as determined on the

Trade Date is less than the applicable assumed Call Return rate

specified above, your return upon an automatic call will be less than

the applicable return shown above.

What Are the Tax Consequences of the Securities?

You should review carefully the section entitled "Material U.S.

Federal Income Tax Consequences" in the accompanying product

supplement no. UBS-3-II. The following discussion, when read in

combination with that section, constitutes the full opinion of our

special tax counsel, Davis Polk & Wardwell LLP, regarding the

material U.S. federal income tax consequences of owning and disposing

of Securities.

Based on current market conditions, in the opinion of our special tax

counsel it is reasonable to treat the Securities as "open

transactions" that are not debt instruments for U.S. federal income

tax purposes. Assuming this treatment is respected, the gain or loss

on your Securities should be treated as short-term capital gain or

loss unless you hold your Securities for more than a year, in which

case the gain or loss should be long-term capital gain or loss,

whether or not you are an initial purchaser of Securities at the

issue price. However, the Internal Revenue Service (the "IRS") or a

court may not respect this treatment of the Securities, in which case

the timing and character of any income or loss on the Securities

could be significantly and adversely affected. In addition, in 2007

Treasury and the IRS released a notice requesting comments on the

U.S. federal income tax treatment of "prepaid forward contracts" and

similar instruments, which might include the Securities. The notice

focuses in particular on whether to require holders of these

instruments to accrue income over the term of their investment. It

also asks for comments on a number of related topics, including the

character of income or loss with respect to these instruments; the

relevance of factors such as the nature of the underlying property to

which the instruments are linked; the degree, if any, to which income

(including any mandated accruals) realized by Non-U.S. Holders should

be subject to withholding tax; and whether these instruments are or

should be subject to the "constructive ownership" regime, which very

generally can operate to recharacterize certain long-term capital

gain as ordinary income and impose an interest charge. While the

notice requests comments on appropriate transition rules and

effective dates, any Treasury regulations or other guidance

promulgated after consideration of these issues could materially and

adversely affect the tax consequences of an investment in the

Securities, possibly with retroactive effect. Both U.S. and Non-U.S.

Holders should consult their tax advisers regarding the U.S. federal

income tax consequences of an investment in the Securities, including

possible alternative treatments and the issues presented by

this notice.

Non-U.S. Holders Additional Tax Consideration

Non-U.S. Holders should note that recently proposed Treasury

regulations, if finalized in their current form, could impose a

withholding tax at a rate of 30% (subject to reduction under an

applicable income tax treaty) on amounts attributable to U.S.-source

dividends (including, potentially, adjustments to account for

extraordinary dividends) that are paid or "deemed paid" after

December 31, 2012 under certain financial instruments, if certain

other conditions are met. While significant aspects of the

application of these proposed regulations to the Securities are

uncertain, if these proposed regulations were finalized in their

current form, we (or other withholding agents) might determine that

withholding is required with respect to Securities held by a Non-U.S.

Holder or that the Non-U.S. Holder must provide information to

establish that withholding is not required. Non-U.S. Holders should

consult their tax advisers regarding the potential application of

these proposed regulations. If withholding is so required, we will

not be required to pay any additional amounts with respect to amounts

so withheld.