New Issue: UBS prices $3.69 million callable step-up notes with 4% initial rate

By Jennifer Chiou

New York, March 20 - UBS AG, Jersey Branch priced $3,691,000 of callable step-up fixed-rate notes due March 21, 2024, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 4% for the first six years. It will step up to 4.5% on March 21, 2018 and to 5% on March 21, 2022. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date beginning on Sept. 21, 2012.

UBS Securities LLC is the agent.

Issuer:	UBS AG, Jersey Branch
Issue:	Callable step-up fixed-rate notes
Amount:	$3,691,000
Maturity:	March 21, 2024
Coupon:	4% for the first six years, stepping up to 4.5% on March 21, 2018 and to 5% on March 21, 2022; payable semiannually
Price:	Variable
Payout at maturity:	Par
Call option:	At par on interest payment dates starting on Sept. 21, 2012
Pricing date:	March 16
Settlement date:	March 21
Underwriter:	UBS Securities LLC
Fees:	None
Cusip:	90261JJE4

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