New Issue: UBS prices $34.22 million capped index knock-out notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., June 19 - UBS AG, London Branch priced $34.22 million of 0% capped index knock-out notes due July 3, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-out event occurs if the index's closing level is less than the initial index level by more than 20% on any day during the life of the notes.

If a knock-out event does not occur, the payout at maturity will be par plus the index return, subject to a minimum return of 11% and a maximum return of 15%. If a knock-out event does occur, the payout will be par plus the lesser of the index return and 15%.

UBS Investment Bank is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as agents.

Issuer:	UBS AG, London Branch
Issue:	Capped index knock-out notes
Underlying index:	S&P 500
Amount:	$34,223,000
Maturity:	July 3, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	If index falls by more than 20% during life of notes, par plus lesser of index return and 15%; otherwise, par plus index return, subject to minimum return of 11% and maximum return of 15%
Initial index level:	1,342.84
Pricing date:	June 15
Settlement date:	June 20
Underwriter:	UBS Investment Bank
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	902674JD3

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