By Jennifer Chiou
New York, April 25 - UBS AG, Jersey Branch priced $502,000 of 0% trigger step performance securities due April 24, 2015 linked to the performance of a basket of currencies relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the Brazilian real, Chinese renminbi, Indian rupee and Russian ruble. The basket return will be positive if the basket currencies have strengthened relative to the dollar overall.
If the basket return is zero or positive, the payout at maturity will be par of $10 plus the greater of the step return of 29% and the basket return.
If the basket return is negative and the final basket level is greater than or equal to the 85% trigger level, the payout will be par.
If the basket return is negative and the final basket level is less than the trigger level, investors will be fully exposed to the basket's decline from its initial level.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, Jersey Branch
|
| Issue: | Trigger step performance securities
|
| Underlying currencies: | Brazilian real, Chinese renminbi, Indian rupee and Russian ruble
|
| Amount: | $502,000
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| Maturity: | April 24, 2015
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket return is zero or positive, par plus greater of 29% step return and basket return; if basket return is negative and final basket level is greater than or equal to 85% trigger level, par; if basket return is negative and final basket level is less than trigger level, full exposure to basket's decline from its initial level
|
| Initial spot rates: | 2.0089 for real, 6.2395 for renminbi, 54.0298 for rupee, 31.4731 for ruble
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| Pricing date: | April 19
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| Settlement date: | April 24
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 2%
|
| Cusip: | 902669589
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