By Toni Weeks
San Luis Obispo, Calif., April 9 - UBS AG, Jersey Branch priced $2.9 million of 0% trigger step performance securities due April 17, 2015 linked to the performance of a basket of currencies relative to the Japanese yen, according to a 424B2 filing with the Securities and Exchange Commission.
The equally weighted basket includes the Australian dollar, the Brazilian real, the Canadian dollar and the U.S. dollar.
If the final basket level is greater than or equal to the initial basket level, the payout at maturity will be par of $10 plus the greater of the basket return and the 15.5% step return.
If the basket level declines by 15% or less, the payout will be par.
If the basket level declines by more than 15%, the payout will be par plus the basket return.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, Jersey Branch
|
| Issue: | Trigger step performance securities
|
| Underlying currencies: | Australian dollar, Brazilian real, Canadian dollar and U.S. dollar, equally weighted and relative to Japanese yen
|
| Amount: | $2.9 million
|
| Maturity: | April 17, 2015
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket return is zero or positive, par plus greater of 15.5% and basket return; if basket return is negative and final basket level is at least 85% of initial level, par; if final basket level is less than 85% of initial level, full exposure to basket's decline
|
| Initial spot rates: | 103.6918 for Australian dollar; 49.9671 for Brazilian real; 97.4296 for Canadian dollar; 98.74 for U.S. dollar
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| Pricing date: | April 12
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| Settlement date: | April 17
|
| Underwriter: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 902669571
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