New York, May 31 - UBS AG, London Branch priced $288,000 of trigger phoenix autocallable optimization securities due June 6, 2014 linked to the common stock of MetLife, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If MetLife stock closes at or above the trigger price - 75% of the initial share price - on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the rate of 9.01%. Otherwise, no coupon will be paid that quarter.
If the shares close at or above the initial price on a quarterly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and MetLife shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | MetLife, Inc. (NYSE: MET)
|
| Amount: | $288,000
|
| Maturity: | June 6, 2014
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| Coupon: | 9.01%, payable quarterly if stock closes at or above trigger price on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if MetLife shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if MetLife shares close at or above initial price on a quarterly observation date
|
| Initial share price: | $44.21
|
| Trigger price: | $33.16, 75% of initial price
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| Pricing date: | May 31
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| Settlement date: | June 5
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| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 90271H824
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