By Toni Weeks
San Diego, Nov. 30 - UBS AG, London Branch priced $1 million of phoenix autocallable optimization securities due Dec. 4, 2013 linked to the common stock of Freeport-McMoRan Copper & Gold Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Freeport-McMoRan stock closes at or above the trigger price - 65% of the initial share price - on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the rate of 11.65%. Otherwise, no coupon will be paid that quarter.
If the shares close at or above the initial price on a quarterly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Freeport-McMoRan shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX)
|
| Amount: | $1 million
|
| Maturity: | Dec. 4, 2013
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| Coupon: | 11.65%, payable quarterly if stock closes at or above trigger price on observation date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus contingent coupon if Freeport-McMoRan shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if Freeport-McMoRan shares close at or above initial price on a quarterly observation date
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| Initial share price: | $38.56
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| Trigger price: | $25.06, 65% of initial price
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| Pricing date: | Nov. 28
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| Settlement date: | Dec. 3
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 902674LZ1
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