By Angela McDaniels
Tacoma, Wash., July 17 - UBS AG, London Branch priced $2.73 million of 0% capped index knock-out notes due Dec. 31, 2012 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index's closing level is less than the initial index level by more than 20% on any day during the life of the notes.
If a knock-out event does not occur, the payout at maturity will be par plus 2.45%.
If a knock-out event occurs, the payout will be par plus the lesser of the index return, which may be positive or negative, and the maximum return, which is 2.45%.
UBS Investment Bank is the underwriter, and J.P. Morgan Securities LLC and JPMorgan Bank NA are dealers.
| Issuer: | UBS AG, London Branch
|
| Issue: | Capped index knock-out notes
|
| Underlying index: | S&P MidCap 400
|
| Amount: | $2.73 million
|
| Maturity: | Dec. 31, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If knock-out event does not occur, par plus 2.45%; if knock-out event occurs, par plus lesser of index return, with full exposure to any losses, and maximum return of 2.45%
|
| Knock-out event: | Index's closing level is less than initial index level by more than 20% on any day during life of notes
|
| Initial index level: | 942.68
|
| Pricing date: | July 13
|
| Settlement date: | July 18
|
| Underwriter: | UBS Investment Bank
|
| Dealers: | J.P. Morgan Securities LLC and JPMorgan Bank NA
|
| Fees: | 0.35%
|
| Cusip: | 902674LC2
|
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