By Toni Weeks
San Diego, Oct. 9 - UBS AG, London Branch priced $18.06 million of 0% capped index knock-out notes due Oct. 23, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index falls by more than 19.65% from the initial level during the life of the notes.
If a knock-out event does not occur, the payout at maturity is par plus the greater of the 5% contingent minimum return and the index return.
If a knock-out event occurs, the payout at maturity is par plus the index return.
In either case, the maximum return is 15%.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Capped index knock-out notes
|
| Underlying index: | S&P 500
|
| Amount: | $18,059,000
|
| Maturity: | Oct. 23, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index falls by more than 19.65% during life of notes, par plus index return; otherwise, par plus greater of index return and 5%; in either case, maximum return is 15%
|
| Initial index level: | 1,460.93
|
| Pricing date: | Oct. 5
|
| Settlement date: | Oct. 11
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 902674LU2
|
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