By Toni Weeks
San Diego, July 3 - UBS AG, London Branch priced $2.85 million of 0% capped index knock-out notes due July 17, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
A knock-out event occurs if the index closes below the 73.2% trigger level during the life of the notes.
If a knock-out event does not occur, the payout at maturity will be par plus the index return, subject to a contingent minimum return of 10%.
If a knock-out event occurs, the payout will be par plus the index return, with full exposure to any losses.
In either case, the maximum return will be 10%.
| Issuer: | UBS AG, London Branch
|
| Issue: | Capped index knock-out notes
|
| Underlying index: | S&P 500
|
| Amount: | $2.85 million
|
| Maturity: | July 17, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index falls below 73.2% trigger level during life of notes, par plus index return; otherwise, par plus index return, with floor of 10%; in either case maximum return is 10%
|
| Initial level: | 1,362.16
|
| Knock-out buffer: | 26.8% of initial level
|
| Pricing date: | June 29
|
| Settlement date: | July 5
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 902674KU3
|
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