New Issue: UBS prices $415,000 semiannual review notes linked to Brazilian real

By Toni Weeks

San Diego, July 24 - UBS AG, Jersey Branch priced $415,000 of semiannual review notes due Jan. 27, 2014 linked to the performance of the dollar relative to the Brazilian real, according to a 424B2 with the Securities and Exchange Commission.

If the currency return is greater than zero on any of the semiannual observation dates beginning on Jan. 22, 2013, the notes will be called. The redemption amount will be par plus 9.2% if the notes are called on the first observation date, par plus 18.4% if called on July 22, 2013 or par plus 27.6% if called on Jan. 27, 2014.

The payout at maturity will be par if the final spot rate is at least 80% of the initial rate. Investors will share in losses.

J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.

Issuer:	UBS AG, Jersey Branch
Issue:	Semiannual review notes
Underlying currency:	Brazilian real
Amount:	$415,000
Maturity:	Jan. 27, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	If final spot rate is at least 80% of initial rate, par; otherwise, exposure to losses
Call:	If currency return is positive on any of three semiannual observation dates, par plus call return of 18.4% per year; observation dates are Jan. 22, 2013, July 22, 2013 and Jan. 27, 2014
Initial spot rate:	2.0227
Pricing date:	July 20
Settlement date:	July 25
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1.25%
Cusip:	90261JKM4

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