Base Prospectus Supplement no. 3. Securities Base Prospectus

Transkript

1 ab2 UBS AG, London Branch Base Prospectus Supplement no. 3 dated 4 July 2006 to Securities Base Prospectus dated 20 October 2005 Supplement pursuant to section 16(1) of the German Securities Prospectus Act (Wertpapierprospektgesetz) by UBS AG, London Branch for the issue of [Call] [Put] Warrants *, HIT [Call] [Put] Warrants, Lock Out [Call] [Put] Warrants, Double Lock Out Warrants, [Turbo Long-] [Turbo Short-] Warrants, Digital [Call] [Put] Warrants, and Hamster Warrants based on the underlying [shares] [indices] [currencies] [precious metals] [commodities] [interest rates] [other securities] [baskets of the above instruments] ISIN [ ] Option Type: [American] [European] offered by UBS Limited * The notation of the warrants will be different for each series of the Securities.

2 2 TABLE OF CONTENTS GENERAL...3 RESPONSIBILITY STATEMENT...4 I. GENERAL INFORMATION ABOUT THE PROSPECTUS AND THE ISSUE...5 II. AMENDMENTS TO THE CONDITIONS...6 Page:

3 3 GENERAL This Supplement for all Finnish Securities (as defined below) is supplemental to, forms an integral part of and must be read in conjunction with, the securities base prospectus dated 20 October 2005 as supplemented by Supplement No. 1 dated 20 December 2005 and by Supplement No. 2 dated 6 March 2006, prepared for the purposes of Directive 2003/71/EC (the Prospectus Directive ) (hereinafter referred to as the Base Prospectus ) prepared by UBS AG, London Branch (hereinafter referred to as the Issuer ), for the issue of UBS Warrants based on the underlying [shares] [indices] [currencies] [precious metals] [commodities] [interest rates] [other securities] [baskets of the above instruments] (hereinafter referred to as the Securities ) offered by UBS Limited (hereinafter referred to as the Offeror ). This Supplement has been prepared pursuant to Article 16 of the Prospectus Directive for the purpose of providing additional information with respect to all Finnish Securities, details of which are specified in the relevant final terms, and must be read in conjunction with the Base Prospectus. Terms defined in the Base Prospectus shall have the same meaning when used in this Supplement unless otherwise defined herein. This Supplement has been prepared for the sole purpose of documenting certain amendments to the Conditions required in order to register the Securities in uncertificated and dematerialised book-entry form with a Finnish central securities depository which is Suomen Arvopaperikeskus Oy, Urho Kekkosenkatu 5 C, P.O. Box 1110, FI Helsinki, Finland (the FCSD ). For the purpose of this Supplement, Finnish Securities, means any Securities designated by the Issuer in the relevant final terms to be registered in uncertificated and dematerialised book-entry form with the FCSD. For the purposes of all Finnish Securities the Base Prospectus shall be amended as set forth below. Consequently, for the purposes of Finnish Securities the Base Prospectus shall be construed and applied accordingly. No other amendments have been made to any of the Conditions. Without limiting the generality of the foregoing, nothing in this Supplement shall be construed as preventing or limiting the ability of the Issuer to include other particular terms and conditions in the relevant Final Terms to the extent permissible under the relevant conditions and final terms as set forth in the Base Prospectus. This Supplement is a supplement to the Base Prospectus within the meaning of Article 16 of Directive 2003/71/EC of 4 November 2003 (hereinafter the Prospectus Directive ; the term also covers all implementation measures by the member states of the European Economic Area) and the corresponding German implementing legislation in form of the Securities Prospectus Act (Wertpapierprospektgesetz). The Supplement has been approved as a prospectus supplement by the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin), as the competent authority in the Federal Republic of Germany as the (selected) home Member State of UBS within the meaning of the Prospectus Directive and the Securities Prospectus Act (Wertpapierprospektgesetz). Approval in this context means the positive act at the outcome of the scrutiny of the completeness of the Supplement by the BaFin including the consistency of the information given and its comprehensibility. Printed copies of the Supplement and the original Prospectus as well as its Supplements are available free of charge both from the Issuer or at UBS Deutschland AG, Stephanstrasse 14-16, Frankfurt am Main, Federal Republic of Germany. Additionally, the Supplements and the original Prospectus are published on the website or a successor website.

4 4 RESPONSIBILITY STATEMENT UBS AG, Bahnhofstrasse 45, 8001 Zurich, Switzerland, and Aeschenvorstadt 1, 4051 Basle, Switzerland, acting through its London Branch, 1 Finsbury Avenue, London EC2M 2PP, United Kingdom, as the Issuer and UBS Limited, 1 Finsbury Avenue, London EC2M 2PP, United Kingdom, as the Offeror of the Securities referred to in this Supplement, assume responsibility for the content of this Supplement as a supplement to the Prospectus pursuant to section 5 (4) of the Securities Prospectus Act. The Issuer and the Offeror declare that they have taken all reasonable care to ensure that the information contained in this Supplement is, to the best of their knowledge, accurate, and that no information has been omitted that could materially alter the implications of this Supplement.

5 5 I. GENERAL INFORMATION ABOUT THE PROSPECTUS AND THE ISSUE What are the Securities? The first paragraph of the sub-section What are the Securities on page 8 of the Prospectus shall be amended as follows: The object of this Prospectus are the names of the Securities, in [bearer] [dematerialised] form, with the International Security Identification Number (both as defined in the Summary of the Key Terms of the Securities ), issued by UBS AG, acting through its London Branch, as Issuer in accordance with German law. These Securities rank pari passu with all other direct, unsubordinated, unconditional and unsecured obligations of the Issuer. Object of the Prospectus The first paragraph of the sub-section Object of the Prospectus on page 26 of the Prospectus shall be amended as follows: The object of this Prospectus are the names of the Securities, in [bearer] [dematerialised] form, with the International Security Identification Number (both as defined in the section entitled Summary of the Key Terms of the Securities ), issued by UBS AG, acting through its London Branch, as Issuer in accordance with German law, and issued in the amount of the Aggregate Amount of the Issue (as defined in the Summary of the Key Terms of the Securities ). All payments relating to the Securities are made in the Settlement Currency (as defined in the section entitled Summary of the Key Terms of the Securities ). Form of the Securities The following paragraph of the sub-section Form and status of the Securities on page 27 shall be put in square brackets: [The Securities issued by the Issuer are represented by one or more permanent global bearer certificate(s) and are deposited for clearing and settlement at the Clearing System(s) (as defined in the section entitled Definitions ). Definitive securities will not be issued.] The following paragraph shall be inserted after the first paragraph of the sub-section Form and status of the Securities on page 27: [All Finnish Securities will be issued in uncertificated and dematerialised book-entry form in accordance with the Finnish Act on Book-Entry System (1991:826) (laki arvo-osuusjärjestelmästä) and the Finnish Act on Book-Entry Accounts (1991:827) (laki arvo-osuustileistä). No physical notes, such as global temporary or permanent notes or definitive notes will be issued in respect of Finnish Securities.]

6 6 II. AMENDMENTS TO THE CONDITIONS Part 1: Definitions 1. Clearing System The definition of Clearingstelle / Clearing System in the Terms and Conditions of the Securities (page 81 of the Base Prospectus), as amended by Supplement No. 1 dated 20 December 2005 (page 3) and Supplement No. 2 dated 6 March 2006 (page 6), shall be amended as follows: Clearingstelle steht für [Clearstream Banking AG, Frankfurt am Main, (Neue Börsenstraße 1, D Frankfurt am Main, Bundesrepublik Deutschland)] [,] [Clearstream Banking S.A., Luxemburg, (42 Avenue JF Kennedy; L-1855 Luxemburg; Luxemburg)] [,] [Monte Titoli s.p.a.] [und] [Euroclear Bank S.A./ N.V., Brüssel, als Betreiber des Euroclear System (1 Boulevard du Roi Albert IIB Brüssel, Belgien)], oder jeden Nachfolger. [VPC AB, Regeringsgatan 65, SE Stockholm, Schweden, in ihrer Funktion als Zentralverwahrer gemäß dem schwedischen Financial Instruments Accounts Act (Schwed. lagen (1998:1479) om kontoföring av finansiella instrument) [oder jeden Nachfolger in dieser Funktion.]] [und] [Suomen Arvopaperikeskus Oy, Urho Kekkosenkatu 5 C, P.O. Box 1110, FI Helsinki, Finland, in ihrer Funktion als Zentralverwahrer gemäß dem Finnish Act on Book-Entry System (1991:826) (laki arvoosuusjärjestelmästä), oder jeden Nachfolger in dieser Funktion.] [Der Begriff Clearingstelle umfasst in diesem Fall sämtliche Clearingstellen.] Clearing System(s) means [Clearstream Banking AG, Frankfurt am Main, (Neue Börsenstraße 1, D Frankfurt am Main, Federal Republic of Germany)] [,] [Clearstream Banking S.A., Luxembourg (42 Avenue JF Kennedy; L-1855 Luxembourg; Luxembourg)] [,] [Monte Titoli s.p.a.] [,] [Euroclear Bank S.A./ N.V., Brussels, as operator of the Euroclear System (1 Boulevard du Roi Albert IIB Brussels, Belgium)] or any successor in this capacity.] [,] [VPC AB, Regeringsgatan 65, SE Stockholm, Sweden, in its capacity as central securities depository under the Swedish Financial Instruments Accounts Act (Sw. lagen (1998:1479) om kontoföring av finansiella instrument) [or any successor in this capacity.]] [and] [Suomen Arvopaperikeskus Oy, Urho Kekkosenkatu 5 C, P.O. Box 1110, FI Helsinki, Finland, in its capacity as central securities depository under the Finnish Act on Book-Entry System (1991:826) (laki arvoosuusjärjestelmästä) or any successor in this capacity.] [The term Clearing-System shall refer to all Clearing-Systems.] 2. FCSD Rules A definition of FCSD-Regeln / FCSD Rules shall be inserted in the Terms and Conditions of the Securities (page 81 of the Base Prospectus) as follows: [ FCSD-Regeln steht für Finnish Act on Book- Entry System (1991:826) (laki arvoosuusjärjestelmästä) und Finnish Act on Book- Entry Accounts (1991:827) (laki arvoosuustileistä) sowie Vorschriften und Verfahren, die auf die Clearingstelle Anwendung finden und/oder von dieser herausgegeben werden.] [ FCSD Rules means the Finnish Act on Book- Entry System (1991:826) (laki arvoosuusjärjestelmästä) and the Finnish Act on Book- Entry Accounts (1991:827) (laki arvoosuustileistä) and the rules and regulations and operating procedures and practices applicable to and/or issued by the Clearing System.]

7 7 3. Paying Agent A definition of Paying Agent / Paying Agent shall be inserted in the Terms and Conditions of the Securities (page 81 of the Base Prospectus) as follows: [ Paying Agent steht für Nordea Bank Finland Plc ( 2590 Issuer Services, Aleksis Kiven katu 3-5, Helsinki) oder jeden Nachfolger in dieser Funktion. Solange ein in Finland begebenes Wertpapier ausstehend ist, wird es zu jeder Zeit einen Paying Agent geben, der unter finnischen Marktusancen als solcher autorisiert ist.] [ Paying Agent means Nordea Bank Finland Plc ( 2590 Issuer Services, Aleksis Kiven katu 3-5, Helsinki) or any successor in this capacity. As long as there are any Finnish Securities outstanding, there will at all times be a Paying Agent duly authorised as such under the Finnish market practice in respect of the relevant Finnish Securities.] 4. Securities The definition of Wertpapiere / Securities in the Terms and Conditions of the Securities (page 82 of the Base Prospectus), as amended by Supplement No 2 dated 6 March 2006 (page 7), shall be amended as follows: Wertpapiere steht für die von der Emittentin im Umfang des Emissionsvolumens begebenen [Call] [Put] Optionsscheine, HIT [Call] [Put] Optionsscheine, Lock Out [Call] [Put] Optionsscheine, Double Lock Out Optionsscheine, [Turbo Long-] [Turbo Short-] Optionsscheine, Digital [Call [Put] Optionsscheine und Hamster Optionscheine, [die auf den Inhaber lauten.] [die unverbrieft und dematerialisiert in Form von Bucheinträgen gemäß dem Finnish Act on Book-Entry System (1991:826) (laki arvoosuusjärjestelmästä) und dem Finnish Act on Book-Entry Accounts (1991:827) (laki arvoosuustileistä) begeben werden.] Securities means [Call] [Put] Warrants, Hit [Call] [Put] Warrants, Lock Out [Call] [Put] Warrants, Double Lock Out Warrants, [Turbo Long-] [Turbo Short-] Warrants, Digital [Call] [Put] Warrants and Hamster Warrants, [issued in bearer form by the Issuer in the Issue Size.] [issued in uncertificated and dematerialised bookentry form in accordance with the Finnish Act on Book-Entry System (1991:826) (laki arvoosuusjärjestelmästä) and the Finnish Act on Book- Entry Accounts (1991:827) (laki arvoosuustileistä).] 5. Securityholder The definition of Wertpapiergläubiger / Securityholder in the Terms and Conditions of the Securities (page 82 of the Base Prospectus), as amended by Supplement No. 1 dated 20 December 2005 (page 3) and by Supplement No 2 dated 6 March 2006 (pages 7-8), shall be amended as follows: Wertpapiergläubiger [steht für die nach deutschem Recht als Eigentümer der Wertpapiere anerkannten Personen] [steht für die Person, auf deren Namen ein Wertpapier bei der Clearingstelle eingetragen ist (einschließlich eines ordnungsgemäß bevollmächtigten Stellvertreters, der als solcher für das jeweilige Wertpapier Securityholder [means the persons acknowledged by German laws as legal owner of the Security] [means, in respect of Securities, the person in whose name a Security is registered with the Clearing System (including a person duly authorised to act as a nominee and registered as such for the relevant Security) or any other

8 8 eingetragen ist), oder eine andere Person, die gemäß den FCSD-Regeln als Wertpapiergläubiger anerkannt ist; werden die jeweiligen Wertpapiere von einem ordnungsgemäß bevollmächtigten Stellvertreter gehalten, gilt der Stellvertreter als Wertpapiergläubiger.] Der Wertpapiergläubiger wird in jeder Hinsicht seitens (i) der Emittentin, (ii) der Berechnungsstelle, und (iii) aller sonstigen Personen als Berechtigter und Begünstigter bezüglich der in den Wertpapieren repräsentierten Rechte behandelt. [Der Wertpapiergläubiger ist in jedem Fall die Person, die bei ihrer Depot führenden Stelle, für die (unmittelbar oder mittelbar) bei der Clearingstelle ein Konto geführt wird, auf dem die Wertpapiere verbucht sind, als Berechtigte geführt wird.] person acknowledged as the holder of the Security pursuant to the FCSD Rules and, accordingly, where the relevant Securities are held through a duly authorised nominee, the nominee shall be the Securityholder.] The Securityholder shall, for all purposes, be treated by (i) the Issuer, (ii) the Calculation Agent, and (iii) all other persons as the person entitled to such Securities and the person entitled to receive the benefits of the rights represented by such Securities.] [Securityholder is, in any case, the person appearing as entitled in the books of the depository bank, for which, directly or indirectly, the account, on which the Securities are deposited, is held by the Clearing System.] Part 3: General Conditions of the Securities 1. Form of Securities etc. Paragraphs (1) and (2) of 4 in the Terms and Conditions of the Securities (page 99 of the Base Prospectus), as amended by Supplement No 2 dated 6 March 2006 (pages 8-9), shall be amended as follows: (1) [Die von der Emittentin begebenen, auf den Inhaber lautenden Wertpapiere sind durch eine oder mehrere Dauer-Inhaber-Sammelurkunde(n) (die Dauerglobalurkunde ) verbrieft. Effektive Wertpapiere werden nicht ausgegeben. Der Anspruch auf Lieferung effektiver Wertpapiere ist ausgeschlossen.] [Alle Wertpapiere werden unverbrieft und dematerialisiert in Form von Bucheinträgen gemäß den FCSD-Regeln begeben. In Bezug auf die Wertpapiere werden keine effektiven Stücke wie vorläufige Globalurkunden, Dauerglobalurkunden oder Einzelurkunden ausgegeben. Die Emittentin ist berechtigt, von der Clearingstelle auf Basis des Registers der Clearingstelle Informationen in Bezug auf die Wertpapiere zu erhalten, um ihren Verpflichtungen gemäß den Bedingungen nachzukommen.] Auf die Wertpapiere werden weder Zinsen noch Dividenden gezahlt. (2) [Die Dauerglobalurkunde ist bei der Clearingstelle hinterlegt. Die Wertpapiere sind als Miteigentumsanteile an der Dauerglobalurkunde (1) [The bearer Securities issued by the Issuer are represented in one or more permanent global bearer document(s) (the Permanent Global Note ). No definitive Securities will be issued. The right to request the delivery of definitive Securities is excluded.] [All of the Securities are issued in uncertificated and dematerialised bookentry form in accordance with the FCSD Rules. No physical notes, such as global temporary or permanent notes or definitive notes will be issued in respect of Securities. The Issuer shall be entitled to obtain from the Clearing System information based on the Clearing System s registers regarding the Securities for the purpose of performing its obligations pursuant to the Conditions.] No interest and no dividends are payable on the Securities. (2) [The Permanent Global Note is deposited with the Clearing System. The Securities are transferable as co-ownership interests in the

9 9 übertragbar und sind im Effektengiroverkehr ausschließlich in der kleinsten handelbaren Einheit übertragbar. Die Übertragung wird mit Eintragung der Übertragung in den Büchern der Clearingstelle wirksam.] [Das Recht an den Wertpapieren wird durch eine gemäß den FCSD- Regeln ausgeführte Übertragung zwischen den Kontoinhabern bei der Clearingstelle übertragen.] Permanent Global Note and may be transferred within the collective securities settlement procedure in the Minimum Trading Size only. Such transfer becomes effective upon registration of the transfer in the records of the Clearing System.] [Title to the Securities will pass by transfer between accountholders at the Clearing System perfected in accordance with the FCSD Rules.] 2. Settlement; Prescription ] Paragraphs (1), ([2] [3]) and ([4] [5]) of 5 in the Terms and Conditions of the Securities (pages of the Base Prospectus), as amended by Supplement No 2 dated 6 March 2006 (pages 9-10) shall be amended as follows: (1) [Die Emittentin wird, vorbehaltlich einer Marktstörung ( 8 (3)) bis zum Rückzahlungstag (keinesfalls aber vor dem Rückzahlungstag), die Überweisung des Auszahlungsbetrags bzw. des Vorzeitigen Auszahlungsbetrags ( 7 (5)) in der Auszahlungswährung [im Fall der Tilgung durch physische Lieferung folgenden Text einfügen: bzw., falls anwendbar, die Lieferung des Physischen Basiswerts in entsprechender Anzahl] über die Zahlstelle zur Gutschrift auf das Konto des jeweils maßgeblichen Wertpapiergläubigers über die Clearingstelle veranlassen.] [Die Emittentin wird, vorbehaltlich einer Marktstörung ( 8 (3)), die Zahlung des Auszahlungsbetrags zum Rückzahlungstag gemäß den FCSD-Regeln veranlassen. Zahlungen des Auszahlungsbetrags bzw. des Vorzeitigen Auszahlungsbetrags und/oder sonstige Zahlungen gemäß den Bedingungen erfolgen an die Wertpapiergläubiger, die am dritten Bankgeschäftstag (wie in den zu diesem Zeitpunkt geltenden FCSD-Regeln definiert) nach dem Verfall- bzw. Kündigungstag als solche eingetragen sind. Dieser Tag ist der Stichtag in Bezug auf die Wertpapiere.] ([2] [3]) [Die Emittentin wird von ihrer Verpflichtung unter diesen Wertpapieren durch Zahlung des Auszahlungsbetrags, des Vorzeitigen Auszahlungsbetrags oder der sonstigen Zahlungsbeträge unter diesen Bedingungen [im Fall der Tilgung durch physische Lieferung (1) [The Issuer will, subject to a Market Disruption ( 8 (3)), procure until the Settlement Date (in any case not before the Settlement Date) the payment of the Settlement Amount or of the Early Redemption Amount ( 7 (5)), as the case may be, in the Settlement Currency [in case of Physical Settlement insert the following text: or, if applicable, the Physical Underlying in the relevant number] to be credited via the Paying Agent to the account of the relevant Securityholder via the Clearing System.] [The Issuer will, subject to a Market Disruption ( 8 (3)), procure that payment of the Settlement Amount occurs on the Settlement Date in accordance with the FCSD Rules. Payments of the Settlement Amount or, as the case may be, the Early Redemption Amount and/or any other amount payable under the Conditions shall be made to the Securityholders recorded as such on the third Banking Day (as defined by the then applicable FCSD Rules) after the Expiration Date or Termination Date. Such day shall be the record date in respect of the Securities.] ([2] [3]) [The Issuer will be discharged from its obligations under the Securities by payment of the Settlement Amount, the Early Redemption Amount, as the case may be, or of any other amount payable under these Conditions [in case of Physical Settlement insert the following text:

10 10 folgenden Text einfügen: bzw., falls anwendbar, durch die Lieferung des Physischen Basiswerts in entsprechender Anzahl] an die Clearingstelle zur Weiterleitung an den jeweiligen Wertpapiergläubiger befreit. [Die Emittentin wird von ihrer Verpflichtung unter den Wertpapieren durch Zahlung des relevanten Betrags, wie vorstehend in (1), befreit.] ([4] [5]) [Die Vorlegungsfrist gemäß 801 Absatz 1 Satz 1 BGB wird auf zehn Jahre verkürzt.] [Ansprüche gegen die Emittentin in Bezug auf Zahlung des Auszahlungsbetrags bzw. des Vorzeitigen Auszahlungsbetrags und/oder sonstige Zahlungen in Bezug auf die Wertpapiere sind festgelegt und verfallen, wenn sie nicht innerhalb einer Frist von zehn Jahren nach dem ersten Fälligkeitstermin dieser Zahlungen geltend gemacht werden; folglich wird der in 801 Absatz 1 Satz 1 BGB festgelegte Zeitraum entsprechend verkürzt.] or, if applicable, by the transfer of the Physical Underlying in the relevant number] to the Clearing System for further credit to the relevant Securityholder.] [The Issuer will be discharged from its obligations under the Securities by payment of the relevant amount as set forth in (1) above.] ([4] [5]) [The period of presentation as established in 801 section 1 sentence 1 of the BGB is reduced to ten years.] [Claims against the Issuer for payment of the Settlement Amount or, as the case may be, the Early Redemption Amount and/or any other amount payable in respect of Securities shall be prescribed and become void unless made within a period of ten years after the date on which such payment first becomes due and consequently the period as established in 801 section 1 sentence 1 of the BGB is so reduced.] 3. Governing law Paragraph (1) of 14 in the Terms and Conditions of the Securities (page 120 of the Base Prospectus), as amended by Supplement No. 2 dated 6 March 2006 (pages 10-11), shall be amended as follows: (1) Form und Inhalt der Wertpapiere sowie alle Rechte und Pflichten aus den in diesen Bedingungen geregelten Angelegenheiten bestimmen sich in jeder Hinsicht nach dem Recht der Bundesrepublik Deutschland. [Ungeachtet der Bestimmungen in 14 (1) unterliegen die Rechtswirkungen, die aus der Registrierung der Wertpapiere bei der Clearingstelle folgen, finnischem Recht gemäß 4 (1), erster Absatz, und 4 (2) in diesen Bestimmungen.] (1) The form and content of the Securities as well as all rights and duties arising from the matters provided for in these Conditions shall in every aspect be governed by the laws of the Federal Republic of Germany. [Notwithstanding the provisions set out in this 14 (1), the legal effects of registration of the Securities with the Clearing System will be governed by Finnish law pursuant to 4 (1), first sub-paragraph, and 4 (2) of these Conditions.]

11 Frankfurt am Main, 4 July 2006 Stefanie Ganz ay ~c4i Dagmar Keller