New Issue: UBS prices $1.74 million one-year capped knock-out notes linked to Apple via JPMorgan

By Toni Weeks

San Diego, July 3 - UBS AG, London Branch priced $1.74 million of 0% capped knock-out notes due July 17, 2013 linked to Apple Inc. shares, according to a 424B2 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 stock finishes below the 80% trigger level.

If a knock-out event does not occur, the payout at maturity will be par plus the stock return, subject to a contingent minimum return of 13.1% and a maximum return of 20%.

If a knock-out event occurs, the payout will be par plus the stock return, with full exposure to the decline in the stock price.

Issuer:	UBS AG, London Branch
Issue:	Capped knock-out notes
Underlying stock:	Apple Inc. (Nasdaq: AAPL)
Amount:	$1,739,000
Maturity:	July 17, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above trigger level, par plus stock return, with floor of 13.1% and maximum return of 20%; otherwise, full exposure to stock price decline
Initial share price:	$584.00
Knock-out level:	$467.20, 80% of initial price
Pricing date:	June 29
Settlement date:	July 5
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	902674KV1

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