UBS plans trigger step return notes linked to four currencies vs. yen

By Angela McDaniels

Tacoma, Wash., March 14 - UBS AG, Jersey Branch plans to price 0% trigger step performance securities due Sept. 28, 2012 linked to the performance of a basket of currencies relative to the Japanese yen, according to an FWP 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. The basket level will increase if the basket currencies strengthen relative to the yen.

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 step return and the basket return. The step return is expected to be 16% to 21% and will be set at pricing.

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.

The notes (Cusip: 902669308) will price March 28 and settle March 31.

UBS Financial Services Inc. and UBS Investment Bank are the agents.

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