New Issue: UBS prices $2.27 million callable step-up notes with 4% initial rate

By Jennifer Chiou

New York, Aug. 16 - UBS AG, Jersey Branch priced $2.27 million of callable step-up fixed-rate notes due Aug. 17, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 4% for the first four years, stepping up to 4.25% on Aug. 17, 2015, to 4.75% on Aug. 17, 2018 and to 5% on Aug. 17, 2020. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date beginning on Feb. 17, 2012.

UBS Investment Bank is the underwriter.

Issuer:	UBS AG, Jersey Branch
Issue:	Callable step-up fixed-rate notes
Amount:	$2,267,000
Maturity:	Aug. 17, 2021
Coupon:	4% initially, stepping up to 4.25% on Aug. 17, 2015, to 4.75% on Aug. 17, 2018 and to 5% on Aug. 17, 2020, payable semiannually
Price:	Variable
Payout at maturity:	Par
Call option:	At par on any interest payment date beginning on Feb. 17, 2012
Pricing date:	Aug. 12
Settlement date:	Aug. 17
Underwriter:	UBS Investment Bank
Cusip:	90261JHK2

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