By Toni Weeks
San Luis Obispo, Calif., July 8 - UBS AG, London Branch priced $150,000 of trigger phoenix autocallable optimization securities due July 15, 2014 linked to the SPDR Euro Stoxx 50 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the share price finishes at or above the trigger price - 85% of the initial share price - on any quarterly observation date, the issuer will pay an annualized contingent coupon of 10.19%. Otherwise, no coupon will be paid for that quarter.
If the fund closes at or above the initial price on any quarterly observation date, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and the shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Investors will be exposed to any losses.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Trigger phoenix autocallable optimization securities
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Underlying fund: | SPDR Euro Stoxx 50 exchange-traded fund
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Amount: | $150,000
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Maturity: | July 15, 2014
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Coupon: | 10.19% per year, payable quarterly if fund closes at or above trigger price on observation date for that quarter
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Price: | Par of $10.00
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Payout at maturity: | Par plus contingent coupon if shares finish at or above trigger price; otherwise, par plus fund return
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Call: | Automatically at par plus contingent coupon if shares close at or above initial price on any quarterly observation date beginning May 15
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Initial share price: | $33.45
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Trigger price: | $28.43, 85% of initial share price
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Pricing date: | July 8
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Settlement date: | July 11
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 90271P420
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