Step 1: Understand the velocity vectors.
The particle moves with constant speed
\[
v.
\]
At points \(A\) and \(B\), the velocity vectors are tangential to the circular path.
Since the radius vectors at \(A\) and \(B\) subtend an angle
\[
\theta
\]
at the centre, the corresponding velocity vectors also subtend the same angle
\[
\theta.
\]
Thus, the initial and final velocity vectors have:
\[
|\vec v_A|=|\vec v_B|=v
\]
and the angle between them is
\[
\theta.
\]
Step 2: Use vector subtraction.
The change in velocity is
\[
\Delta \vec v=\vec v_B-\vec v_A.
\]
The magnitude of the difference of two vectors of equal magnitude \(v\) making an angle \(\theta\) is obtained using the cosine rule.
\[
|\Delta \vec v|
=
\sqrt{v^2+v^2-2v^2\cos\theta}.
\]
\[
=
\sqrt{2v^2(1-\cos\theta)}.
\]
Step 3: Apply the trigonometric identity.
Using
\[
1-\cos\theta
=
2\sin^2\frac{\theta}{2},
\]
we get
\[
|\Delta \vec v|
=
\sqrt{2v^2\cdot 2\sin^2\frac{\theta}{2}}.
\]
\[
=
\sqrt{4v^2\sin^2\frac{\theta}{2}}.
\]
\[
=
2v\sin\frac{\theta}{2}.
\]
Step 4: Final conclusion.
Hence, the magnitude of the change in velocity is
\[
\boxed{2v\sin\frac{\theta}{2}}
\]
Therefore, the correct option is
\[
\boxed{(1)}
\]