By Angela McDaniels
Tacoma, Wash., April 17 - UBS AG, London Branch priced $755,000 of 0% contingent absolute return optimization securities due April 21, 2014 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock return is positive, the payout at maturity will be par plus double the stock return, subject to a maximum return of 36%.
If the stock return is zero or negative and the final share price is equal to or greater than the trigger price, the payout will be par plus the absolute value of the stock return. The trigger price is 75% of the initial share price.
If the final price is less than the trigger price, investors will be fully exposed to the stock's decline from its initial price.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Contingent absolute return optimization securities
|
| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $755,000
|
| Maturity: | April 21, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If stock return is positive, par plus double stock return, up to maximum return of 36%; if stock return is zero or negative and final share price is equal to or greater than trigger price, par plus absolute value of stock return; if final price is less than trigger price, full exposure to stock's decline from initial price
|
| Initial share price: | $605.23
|
| Trigger price: | $453.92, 75% of initial share price
|
| Pricing date: | April 13
|
| Settlement date: | April 19
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2.5%
|
| Cusip: | 902674HL7
|
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