New Issue: UBS prices $5.37 million contingent return optimization securities linked to S&P 500

By Toni Weeks

San Diego, July 30 - UBS AG, London Branch priced $5.37 million of 0% contingent return optimization securities due July 31, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to the trigger level, 75% of the initial index level, the payout at maturity will be par of $10 plus the greater of 6% and the index return. The payout will be subject to a maximum return of 26.83%.

If the final index level is less than the trigger level, investors will be fully exposed to the decline.

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

Issuer:	UBS AG, London Branch
Issue:	Contingent return optimization securities
Underlying index:	S&P 500
Amount:	$5,367,300
Maturity:	July 31, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	If final level is at or above trigger level, par plus greater of index return and 6%, return capped at 26.83%; if final level is below trigger level, full exposure to decline from initial level
Initial level:	1,360.02
Trigger level:	1,020.02, 75% of initial level
Pricing date:	July 26
Settlement date:	July 31
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2%
Cusip:	90268U671

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