Preheat oven to 400°F. Mix nutmeg, garlic salt and red pepper in small bowl. Place asparagus in single layer on foil-lined 15x10x1-inch baking pan. Drizzle asparagus with oil; roll to coat. Sprinkle with spice mixture; roll to coat.
Bake 10 to 12 minutes or until asparagus are tender-crisp, turning once.