By Susanna Moon
Chicago, Aug. 26 - UBS AG, London Branch priced $100,000 of trigger phoenix autocallable optimization securities due Sept. 4, 2012 linked to MetLife Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If MetLife stock closes at or above the trigger price - 60% of the initial share price - on a monthly observation date, the issuer will pay an annualized contingent coupon of 23.59% for that month.
If the share price is greater than or equal to the initial price on any of the observation dates, the notes will be called at par of $10 plus the contingent coupon.
The payout at maturity will be par plus the contingent coupon if the notes are not called and the MetLife share price finishes at or above the trigger price. If the shares finish below the trigger, investors will be exposed to the decline from the initial share price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying stock: | MetLife Inc. (NYSE: MET)
|
| Amount: | $100,000
|
| Maturity: | Sept. 4, 2012
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| Coupon: | 23.59%, payable monthly if stock closes at or above trigger price on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and shares finish at or above trigger price, par plus contingent coupon; otherwise, full exposure to decline in share price
|
| Call: | At par plus contingent coupon if share price closes at or above initial price on any monthly observation date
|
| Initial price: | $31.53
|
| Trigger price: | $18.92, or 60% of initial price
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| Pricing date: | Aug. 25
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| Settlement date: | Aug. 30
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| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.25%
|
| Cusip: | 90268C838
|
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