By Angela McDaniels
Seattle, March 27 - UBS AG priced a $5 million issue of 0% performance securities with contingent protection due March 30, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus 108.25% of any percentage increase in the index level.
If the final index level is equal to or less than the initial index level, the payout will be par unless the index level falls below the trigger level - 50% of the initial index level - during the life of the securities, in which case investors will share in the index decline.
| Issuer: | UBS AG
|
| Issue: | Performance securities with contingent protection
|
| Underlying index: | S&P 500
|
| Amount: | $5 million
|
| Maturity: | March 30, 2012
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus 108.25% of any index gain; par minus any decline in the index if the index falls below the trigger level during the life of the notes; par if index level remains flat or declines by 50% or less
|
| Initial index level: | 1,436.11
|
| Trigger level: | 718.055, 50% of initial index level
|
| Pricing date: | March 23
|
| Settlement date: | March 30
|
| Underwriters: | UBS Securities LLC and UBS Financial Services Inc.
|
| Underwriting discount: | 3.5%
|
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