By Jennifer Chiou
New York, June 8 - UBS AG, London Branch priced $8.6 million of 0% autocallable optimization securities with contingent protection due June 10, 2011 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the exchange-traded fund's shares close at or above the initial share price of any of the 12 monthly observation dates, the notes will be automatically called and investors will receive par of $10 plus an annualized call premium of 24.6%.
If the notes are not called and the final share price is greater than or equal to 75% of the initial price, the payout at maturity will be par. If the final share price is less than 75% of the initial price, the payout will be par plus the fund return.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Autocallable optimization securities with contingent protection
|
| Underlying ETF: | Energy Select Sector SPDR fund
|
| Amount: | $8.6 million
|
| Maturity: | June 10, 2011
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par if final share price is greater than or equal to trigger price; otherwise, par plus share price return
|
| Call: | Automatically at par plus annualized call premium of 24.6% if ETF's shares close at or above the initial price on any of the monthly observation dates
|
| Initial share price: | $51.58
|
| Trigger price: | $38.69, 75% of initial price
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| Pricing date: | June 4
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| Settlement date: | June 9
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.25%
|
| Cusip: | 90267C383
|
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