New Issue: UBS prices $6.7 million contingent buffer enhanced notes linked to oil

By Angela McDaniels

Tacoma, Wash., Nov. 13 - UBS AG, London Branch priced $6.7 million of 0% contingent buffer enhanced notes due Jan. 13, 2015 linked to WTI light sweet crude oil, according to a 424B2 filing with the Securities and Exchange Commission.

If the final price of oil is greater than or equal to the barrier level, the payout at maturity will be par plus 200% of the oil return, subject to a minimum return of 5% and a maximum return of 15.6%. The barrier level is 80% of the initial price.

If the final price is less than the barrier level, investors will lose 1% for every 1% that the final price is less than the initial price.

UBS Investment Bank is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as dealers.

Issuer:	UBS AG, London Branch
Issue:	Contingent buffer enhanced notes
Underlying commodity:	WTI light sweet crude oil
Amount:	$6,698,000
Maturity:	Jan. 13, 2015
Coupon:	0%
Price:	Par
Payout at maturity:	If final price of oil is greater than or equal to barrier level, par plus 200% of oil return, subject to 5% minimum return and 15.6% maximum return of 15.6%; if final price is less than barrier level, 1% loss for every 1% that final price is less than initial price
Initial oil price:	$94.60
Final oil price:	Average of price of oil on five trading days ending Jan. 8, 2015
Barrier price:	$75.68, 80% of initial price
Pricing date:	Nov. 8
Settlement date:	Nov. 14
Underwriter:	UBS Investment Bank
Dealers:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1.1%
Cusip:	90270KAP4

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