By Marisa Wong
Madison, Wis., Nov. 15 - UBS AG, London Branch priced $148,500 of 0% contingent absolute return autocallable optimization securities due May 22, 2015 linked to United States Steel Corp. shares, according to an 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 20.17% if U.S. Steel stock closes at or above the initial share price on any quarterly observation date.
If the notes are not called and the stock finishes at or above the trigger price, 75% of the initial share price, the payout at maturity will be par plus the absolute value of the stock return.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent absolute return autocallable optimization securities
|
| Underlying stock: | United States Steel Corp. (Symbol: X)
|
| Amount: | $148,500
|
| Maturity: | May 22, 2015
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If final share price is at or above trigger price, par plus absolute value of stock return; otherwise, full exposure to losses
|
| Call: | At par plus 20.17% annualized for each quarter that U.S. Steel stock closes at or above initial share price on any quarterly observation date
|
| Initial share price: | $28.00
|
| Trigger price: | $21.00, 75% of initial share price
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| Pricing date: | Nov. 15
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| Settlement date: | Nov. 20
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 90271U684
|
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