By Angela McDaniels
Tacoma, Wash., April 15 - UBS AG, London Branch priced $759,750 of 0% trigger return optimization securities due April 18, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 1.5 times the index return, subject to a maximum return of 26.25%.
If the index return is zero or negative and the final index level is greater than or equal to the trigger level, 75% of the initial level, the payout will be par.
If the final index level is less than the trigger level, investors will be fully exposed to the index's decline from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger return optimization securities
|
| Underlying index: | S&P 500
|
| Amount: | $759,750
|
| Maturity: | April 18, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any index gain, capped at 26.25%; par if index falls by up to 25%; full exposure to any losses if index finishes below trigger level
|
| Initial index level: | 1,815.69
|
| Trigger level: | 1,361.77, 75% of initial price
|
| Pricing date: | April 11
|
| Settlement date: | April 16
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2.5%
|
| Cusip: | 90272V574
|
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