By Susanna Moon
Chicago, April 29 - UBS AG priced $4.91 million of 0% bearish autocallable optimization securities with contingent protection due Oct. 30, 2009 linked to the Amex Gold Bugs index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be automatically called if the index shows a negative return on any of the quarterly observation dates between July 2008 and October 2009. If the notes are called, the redemption amount will be par of $10 plus an annualized return of 25.5% through the call date.
If the notes are not called, the payout at maturity will be par unless the index closes at or above the contingent protection level, 140% of the initial level, during the life of the notes and finishes above the initial index level, in which case investors will lose 1% for each 1% increase in the index level.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG
|
| Issue: | Bearish autocallable optimization securities with contingent protection
|
| Underlying index: | Amex Gold Bugs index
|
| Amount: | $4,906,450
|
| Maturity: | Oct. 30, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | Automatically called if the index shows a negative return on any of the quarterly observation dates between July 2008 and October 2009; redemption amount will be par plus annualized return of 25.5% to the call date
|
| Payout at maturity: | Par unless index closes at or above contingent protection level, 140% of the initial level, during life of the notes and finishes above initial level, in which case investors will lose 1% for each 1% index gain
|
| Initial index level: | 410.82
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Underwriters: | UBS Financial Services Inc., UBS Investment Bank
|
| Fees: | 1.5%
|
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