By Toni Weeks
San Diego, May 30 - UBS AG, London Branch priced $44.83 million of 0% capped index knock-out notes due June 12, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index falls by more than 20% from the initial level during the life of the notes.
If a knock-out event does not occur, the payout at maturity is par plus the greater of the 13% contingent minimum return and the index return.
If a knock-out event occurs, the payout at maturity is par plus the index return.
In either case, the maximum return is 15%.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Capped index knock-out notes
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Underlying index: | S&P 500
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Amount: | $44,829,000
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Maturity: | June 12, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index falls by more than 20% during life of notes, par plus index return; otherwise, par plus greater of index return and 13%; in either case, maximum return is 15%
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Initial index level: | 1,317.82
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Pricing date: | May 25
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Settlement date: | May 31
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Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 902674HR4
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