UBS plans one-year capped knock-out notes tied to S&P 500 via JPMorgan

By Toni Weeks

San Diego, June 26 - UBS AG, London Branch plans to price 0% capped index knock-out notes due July 17, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.

A knock-out event occurs if the index closes below the 80% trigger level during the life of the notes.

If a knock-out event does not occur, the payout at maturity will be par plus the index return, subject to a contingent minimum return of 11.1% and a maximum return of 15%.

If a knock-out event occurs, the payout will be par plus the index return, with full exposure to losses.

The notes (Cusip: 902674JK7) are expected to price June 29 and settle July 5.

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