By Marisa Wong
Madison, Wis., Feb. 28 - UBS AG, Jersey Branch priced $4.38 million 0% trigger step performance securities due Aug. 29, 2014 linked to the performance of a basket of currencies relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the Brazilian real, Chinese renminbi, Indian rupee and Russian ruble. The basket return will be positive if the basket currencies have strengthened relative to the dollar overall.
If the basket return is zero or positive, the payout at maturity will be par of $10 plus the greater of the step return of 19% and the basket return.
If the basket return is negative and the final basket level is greater than or equal to the 90% trigger level, the payout will be par.
If the basket return is negative and the final basket level is less than the trigger level, investors will be fully exposed to the basket's decline from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, Jersey Branch
|
| Issue: | Trigger step performance securities
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| Underlying currencies: | Brazilian real, Chinese renminbi, Indian rupee and Russian ruble
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| Amount: | $4.38 million
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| Maturity: | Aug. 29, 2014
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If basket return is zero or positive, par plus greater of 19% step return and basket return; if basket return is negative and final basket level is greater than or equal to 90% trigger level, par; if basket return is negative and final basket level is less than trigger level, full exposure to basket's decline from its initial level
|
| Initial spot rates: | 1.9818 for real, 6.2856 for renminbi, 54.0645 for rupee, 30.6142 for ruble
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| Pricing date: | Feb. 26
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| Settlement date: | Feb. 28
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 2%
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| Cusip: | 902669555
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