New Issue: UBS prices $100,000 22.55% reverse convertibles linked to Netflix

By Jennifer Chiou

New York, June 13 - UBS AG, London Branch priced $100,000 of 22.55% reverse convertible notes due Sept. 18, 2013 linked to Netflix, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Netflix shares fall below the protection price of $150.80, 70% of the initial price of $215.43, during the life of the notes and finish below the initial price in which case the payout will be 4.6419 shares of Netflix stock.

UBS Financial Services Inc. and UBS Investment Bank are the underwriters.

Issuer:	UBS AG, London Branch
Issue:	Reverse convertible notes
Underlying stock:	Netflix, Inc. (Symbol: NFLX)
Amount:	$100,000
Maturity:	Sept. 18, 2013
Coupon:	22.55%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Netflix shares fall below the protection price of $150.80, 70% of the initial price, and finish below the initial price, in which case 4.6419 shares of Netflix stock
Initial price:	$215.43
Protection price:	$150.80, 70% of $215.43
Exchange ratio:	4.6419
Pricing date:	June 13
Settlement date:	June 18
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	1%
Cusip:	902674MS6

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