By Angela McDaniels
Tacoma, Wash., Sept. 26 - UBS AG, Jersey Branch priced $1.79 million of 0% trigger step performance securities due Sept. 29, 2014 linked to the performance of a basket of currencies relative to the Japanese yen, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the Australian dollar, the Brazilian real, the Canadian dollar and the U.S. dollar. The basket return will be positive if the basket currencies have strengthened relative to the yen overall.
If the basket return is zero or positive, the payout at maturity will be par of $10 plus the greater of 18% and the basket return.
If the basket return is negative and the final basket level is greater than or equal to the trigger level, the payout will be par. The trigger level is 85% of the initial basket level.
If the basket return is negative and the final basket level is less than the trigger level, investors will be fully exposed to the basket's decline from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, Jersey Branch
|
| Issue: | Trigger step performance securities
|
| Underlying currencies: | Australian dollar, Brazilian real, Canadian dollar and U.S. dollar, equally weighted
|
| Amount: | $1,788,000
|
| Maturity: | Sept. 29, 2014
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket return is zero or positive, par plus greater of 18% and basket return; if basket return is negative and final basket level is at least 85% of initial level, par; if final basket level is less than 85% of initial level, full exposure to basket's decline
|
| Initial spot rates: | 81.3885 for Australian dollar; 38.4574 for Brazilian real; 79.7256 for Canadian dollar; 77.8800 for U.S. dollar
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 28
|
| Underwriter: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 902669480
|
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