By Toni Weeks
San Diego, May 19 - UBS AG, Jersey Branch priced $1.7 million of 0% trigger step performance securities due Nov. 30, 2012 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 equally weighted basket includes the Norwegian krone, the Polish zloty and the Swedish krona.
If the final basket level is greater than or equal to the initial basket level, the payout at maturity will be par of $10 plus the greater of the basket return and 15%.
Investors will receive par if the basket declines by 20% or less and will be fully exposed to losses should the basket level decline by more than 20%.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, Jersey Branch
|
| Issue: | Trigger step performance securities
|
| Underlying currencies: | Norwegian krone, Polish zloty, Swedish krona, equally weighted and each relative to the Japanese yen
|
| Amount: | $1.7 million
|
| Maturity: | Nov. 30, 2012
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus greater of basket return and 15% if final basket level is greater than or equal to initial level; par if basket falls by 20% or less; full exposure to losses if basket falls by more than 20%
|
| Initial exchange rates: | 14.6826 for krone, 29.67 for zloty, 12.9284 for krona
|
| Pricing date: | May 18
|
| Settlement date: | May 23
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 902669357
|
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