By Susanna Moon
Chicago, April 12 - UBS AG, London Branch priced $10.91 million of trigger phoenix autocallable optimization securities due Oct. 16, 2014 linked to JPMorgan Chase & Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If JPMorgan stock closes at or above the trigger price - 75% of the initial share price - on a quarterly observation date, the notes will pay a contingent coupon at annualized rate of 8.16% for that quarter.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on any quarterly observation date.
If the notes are not called and JPMorgan shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to losses.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying stock: | JPMorgan Chase & Co. (NYSE: JPM)
|
| Amount: | $10,909,150
|
| Maturity: | Oct. 16, 2014
|
| Coupon: | 8.16% per year if stock closes at or above trigger price on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon if JPMorgan shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | At par plus contingent coupon if JPMorgan shares close at or above initial price on any quarterly observation date
|
| Initial share price: | $49.25
|
| Trigger price: | $36.94, 75% of initial share price
|
| Pricing date: | April 10
|
| Settlement date: | April 15
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 90271C155
|
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