Sec Form 13G Filing - UBS AG filing for Invesco Pennsylvania Value Municipal Income Trust (VPV) - 2012-07-09

Names of Reporting Persons

UBS AG, for the benefit and on behalf of UBS Securities LLC and UBS Financial Services Inc., two-wholly owned subsidiaries of UBS AG to which UBS AG has delegated portions of its performance obligations with respect to the Auction Rate Securities Rights issued by UBS AG to certain clients and pursuant to which the securities reported herein have been purchased from such clients.

Check the Appropriate Box if a Member of a Group

a  ¨        b  ¨

SEC USE ONLY

Citizenship or Place of Organization

Switzerland

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With:

Sole Voting Power

0

Shared Voting Power

0**

Sole Dispositive Power

0

Shared Dispositive Power

0**

  9.

Aggregate Amount Beneficially Owned by Each Reporting Person:

0**

10.

Check if the Aggregate Amount in Row 9 Excludes Certain Shares  ¨

11.

Percent of Class Represented by Amount in Row 9

0%***

12.

Type of Reporting Person

BK

Item 1(a)

Name of Issuer

Invesco Van Kampen Pennsylvania Value Municipal Income Trust

Item 1(b)

Address of Issuer’s Principal Executive Offices:

Invesco Van Kampen Pennsylvania Value Municipal Income Trust

1221 Avenue of The Americas

New York, NY 10020

Item 2(a)

Name of Person Filing:

UBS AG

Item 2(b)

Address of Principal Business Office:

UBS AG

Bahnhofstrasse 45

PO Box CH-8021

Zurich, Switzerland

Item 2(c)

Citizenship or Place of Organization:

Switzerland

Item 2(d)

Title of Class of Securities

Auction Preferred Stock

Item 2(e)

CUSIP Number(s):

46132K208

46132K307

46132K406

46132K505

This response lists the CUSIP numbers assigned to every series of auction preferred securities issued by the Issuer, and not redeemed as of January 31, 2009, including series in which UBS AG may not have an ownership position.

Item 3.

Type of Person Filing:

UBS AG is classified as a Bank as defined in section 3(a)(6) of the Securities Act or 1933 pursuant to no-action relief granted by the staff of the Securities and Exchange Commission.

Item 4 (a)-(c)(iv).

Ownership:

Items 5-11 of the cover page and Item 2(e) above are incorporated by reference in our response to this Item 4.

Item 5.

Ownership of Five Percent or Less of a Class:

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following  x.

Item 6.

Ownership of More than Five Percent on Behalf of Another Person:

Not applicable

Item 7.

Identification and Classification of the Subsidiary That Acquired the Security Being Reported on By the Parent Holding Company:

This statement on Schedule 13G is being filed by UBS AG, for the benefit and on behalf of UBS Securities LLC and UBS Financial Services Inc., two-wholly owned subsidiaries of UBS AG to which UBS AG has delegated portions of its performance obligations with respect to the Auction Rate Securities Rights issued by UBS AG to certain clients and pursuant to which the securities reported herein have been purchased from such clients

Item 8.

Identification and Classification of Members of the Group

Not Applicable

Item 9

Notice of Dissolution of Group:

Not Applicable

Item 10.

Certification:

By signing below, the undersigned certify that, to the best of their knowledge and belief, (i) the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, and (ii) that the reporting person(s) identified above are eligible to rely upon the Global Relief Letter with respect to the submission of this Schedule 13G.