By Susanna Moon
Chicago, Aug. 5 - UBS AG, Jersey Branch priced $7.68 million of callable contingent accrual notes due Aug. 6, 2025 based on the 30-year Constant Maturity Swap rate and two-year CMS rate and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 8% for each day that the spread between the 30-year CMS rate and the two-year CMS rate is at least zero and the S&P 500 closes at or above the index barrier, which is 800. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Aug. 6, 2011.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, Jersey Branch
|
| Issue: | Callable contingent accrual notes
|
| Amount: | $7.68 million
|
| Maturity: | Aug. 6, 2025
|
| Coupon: | 8% for each day that 30-year CMS rate is at or above two-year CMS rate and S&P 500 closes at or above index barrier; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates after one year
|
| Index barrier: | 800
|
| Pricing date: | Aug. 3
|
| Settlement date: | Aug. 6
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2.25%
|
| Cusip: | 90261JFX6
|
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