New Issue: UBS prices $1.97 million callable step-up notes with 3% initial rate

By Jennifer Chiou

New York, June 13 - UBS AG, Jersey Branch priced $1,968,000 of callable step-up fixed-rate notes due June 14, 2022, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 3% for the first six years. It will step up to 5% on June 14, 2018 and to 7% on June 14, 2021. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date beginning on Dec. 14, 2012.

UBS Securities LLC is the underwriter.

Issuer:	UBS AG, Jersey Branch
Issue:	Callable step-up fixed-rate notes
Amount:	$1,968,000
Maturity:	June 14, 2022
Coupon:	3% initially, stepping up to 5% on June 14, 2018 and to 7% on June 14, 2021; payable semiannually
Price:	Variable
Payout at maturity:	Par
Call option:	At par on interest payment dates beginning on Dec. 14, 2012
Pricing date:	June 11
Settlement date:	June 14
Underwriter:	UBS Securities LLC
Fees:	Up to 1.25%
Cusip:	90261JKB8

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