New Issue: UBS prices $382,000 airbag yield optimization notes linked to Alexion

By Angela McDaniels

Tacoma, Wash., May 13 - UBS AG, London Branch priced $382,000 of 3.6% annualized airbag yield optimization notes due Nov. 17, 2014 linked to the common stock of Alexion Pharmaceuticals, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Alexion shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.

UBS Financial Services Inc. and UBS Investment Bank is the agent.

Issuer:	UBS AG, London Branch
Issue:	Airbag yield optimization notes
Underlying stock:	Alexion Pharmaceuticals, Inc. (Symbol: ALXN)
Amount:	$382,000
Maturity:	Nov. 17, 2014
Coupon:	3.6% annualized, payable monthly
Price:	Par
Payout at maturity:	If final share price is less than conversion price, number of Alexion shares equal to $1,000 divided by conversion price; otherwise, par
Initial share price:	$152.87
Conversion price:	$122.30, 80% of initial price
Pricing date:	May 9
Settlement date:	May 14
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	1%
Cusip:	90272X299

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