By Angela McDaniels
Tacoma, Wash., Feb. 11 - UBS AG, London Branch priced $7.39 million of phoenix autocallable optimization securities due Feb. 15, 2012 linked to the American Depositary Shares of Barclays plc, according to a 424B2 filing with the Securities and Exchange Commission.
If Barclays ADSs close at or above the trigger price - 75% of the initial ADS price - on a quarterly observation date, the issuer will pay a contingent coupon that quarter at the rate of 14% per year.
If Barclays ADS close at or above the initial ADS price on any quarterly observation date, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and the ADSs finish at or above 75% of the initial price, the payout at maturity will be par. Otherwise, the payout will be par plus the ADS return.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Phoenix autocallable optimization securities
|
| Underlying ADSs: | Barclays plc (NYSE: BCS)
|
| Amount: | $7,393,990
|
| Maturity: | Feb. 15, 2012
|
| Coupon: | 14% if Barclays ADSs close at or above the trigger price on an observation date, otherwise none; payable quarterly
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par if final ADS price is greater than or equal to trigger price; otherwise, par plus ADS return
|
| Call: | At par plus coupon payment if Barclays's ADSs close at or above the initial price on any quarterly observation date
|
| Initial ADS price: | $20.44
|
| Trigger price: | $15.33, or 75% of initial price
|
| Pricing date: | Feb. 9
|
| Settlement date: | Feb. 14
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 90267F543
|
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