Obbligazione UBS SA 0% ( CH0103747900 ) in USD

Emittente UBS SA
Prezzo di mercato 100 USD  ▲ 
Paese  Svizzera
Codice isin  CH0103747900 ( in USD )
Tasso d'interesse 0%
Scadenza 03/09/2010 - Obbligazione è scaduto



Prospetto opuscolo dell'obbligazione UBS AG CH0103747900 in USD 0%, scaduta


Importo minimo /
Importo totale /
Descrizione dettagliata UBS AG è una delle maggiori istituzioni finanziarie globali, operante nel private banking, investment banking e gestione patrimoniale.

L'obbligazione di tipo zero-coupon con codice ISIN CH0103747900, denominata in USD e originariamente emessa dalla svizzera UBS AG ? un'importante istituzione finanziaria globale con sede in Svizzera, riconosciuta per i suoi servizi di wealth management, investment banking e asset management ? è giunta a scadenza il 3 settembre 2010 ed è stata rimborsata al 100% del suo valore nominale, completando così il suo ciclo di vita finanziario.







UBS AG
acting through UBS Investment Bank

UBS Currency Certificates ­ EUR/USD Bull

USD ("US Dollar")
Expiration Date: 3 September 2010
Issue Size: 4,000,000 Products
Issue Price: USD 20.25
per Product as of Issue Date


The Issuer has issued structured products in securitized form (the ''Product'') in accordance with the terms
and conditions set out in this prospectus (the ''Prospectus'').

The Issuer has the possibility to increase the number of Securities at any time during the lifetime of the
Securities. In the event of an increase an additional prospectus will be prepared.

Application has been made to list the Products on the Official List of the Luxembourg Stock Exchange and
to trade them on the EURO MTF Market of that exchange. This Prospectus constitutes a prospectus for the
purpose of the Luxembourg law dated 10 July 2005 on prospectuses for securities.


Opportunities and Loss Risks
As the foreign exchange market can be subject to sharp fluctuations, it is essential that you regularly
monitor the price trend of this Product.

In order to invest in these Products Investors must be familiar with the currency and currency options
markets and the risks associated with such markets. As the investment will be impacted by the
performance of the Underlying, such investment is appropriate only for Investors who are experienced in
financial and business matters and familiar with the currency and currency options markets.

Investors have to be aware that based on the relevant foreign exchange rate they bear the risk to lose their
invested capital altogether.
Detailed information to the risks of these Products is stated in the section headed Risk Factors of this
Prospectus.

This Prospectus does not qualify as a prospectus published in accordance with the requirements of the EU
Prospectus Directive (Directive 2003/71/EC).

Nobody is authorised to give information other than that contained in this Prospectus and the documents
referred to therein and which are made available for inspection by the public.



UBS Investment Bank
Date 24 August 2009



Table of contents





1. Final
Terms

2.
General Terms and Conditions

3.
Description of UBS AG (Issuer's Information)

4.
Selected Financial Data
- Income Statement (yearly, quarterly)
- Balance Sheet (yearly, quarterly)

5.
Incorporation by Reference

6.
Performance of the Underlying






UBS Currency Certificate: EUR/USD Bull with
Early Termination Level
Issued by UBS AG
SVSP Product Type: Mini-futures (130)
Valor: 10374790
Final Terms

1. Description of the Product
Information on Underlying
Underlying(s)
Initial Underlying Level
Reference Rate



EUR/USD Exchange rate,
defined as the U.S. Dollar (USD) amount
USD 1.4169 per 1 EUR
USD 1.4175 per 1 EUR
per one Euro (EUR)


Product Details

Security Numbers
Valor: 10374790 / ISIN: CH0103747900 / WKN: UB9CEX / Common Code:
044698803
Issue Size
4,000,000 Certificates
Nominal Amount
One Certificate corresponds to EUR 100.00
Early Termination Level
USD 5.50
Calculation Value
USD 20.50
Issue Price
USD 20.25

Dates
Launch Date
12 August 2009
Pricing Date ("Pricing")
04 August 2009
Issue Date/Payment Date
14 August 2009
Expiration Date and Time
Friday, 03 September 2010, 2.15 p.m. CET (ECB37 Fixing) (subject to Market
("Expiry")
Disruption Event provisions)
Maturity Date/ Redemption
Tuesday, 07 September 2010 (subject to Market Disruption Event provisions)
Date


Redemption

The Investor is entitled to receive from the Issuer on the Redemption Date an amount in the Settlement Currency,
according to the following scenarios:
Scenario 1
If the actual value of the UBS Currency Certificate never lies at or below the
Early Termination Level (corresponding spot level depends on the forward price
and time to maturity) at any time after the Launch Date and before Expiry, the
Investor receives on the Redemption Date per Product an amount, calculated
according to the following formula:
Max [0, Calculation Value + (Final Spot Fixing - Reference Rate)*100]

Structured FX

Contact:
UBS AG, P.O. Box, 8098 Zurich
London: +44-20-7567
7400*
Zurich
E-Mail:
[email protected]
Singapore: +65-6495
8960*
Private Investors:
Please contact your client
advisor
Internet:
www.ubs.com/keyinvest
Stamford: +1-203-719
1515*
Institutional Investors: +41-44-239 72 72*
Please note that calls made to the numbers marked with an asterisk (*) may be recorded. Should you call one of these numbers, we shall assume that you consent to this business practice.
UBS Investment Bank is a business division of UBS AG



Valor: 10374790

Page 2/6
Final Terms
Scenario 2
If the actual value of the UBS Currency Certificate once lies at or below the

Early Termination Level (corresponding spot level depends on the forward price
and time to maturity) at any time after the Launch Date and before Expiry, the
UBS Currency Certificate will automatically be redeemed at market price with
value 2 Business Days.

The value of the Product is determined using the global spot foreign exchange
market, which, for these purposes, shall be treated as being open continuously
from 5.00 a.m. Sydney time on a Monday in any week to 5.00 p.m. New York
time on the Friday of that week.
Final Spot Fixing
Value of the Underlying at Expiry according to the Reuters Fixing Page ECB37.
Product Structure

Buying the UBS Currency Certificate: EUR/USD Bull with Early Termination Level lets the Investor enter into a long
position in Euro (EUR) against the U.S. Dollar (USD). The value of the UBS Currency Certificate increases if the Euro
strengthens against the U.S. Dollar and decreases if the Euro weakens against the U.S. Dollar. If the actual value of
the UBS Currency Certificate once lies at or below the Early Termination Level at any time after the Launch Date
and before Expiry, the Products will be automatically redeemed at market price in USD, as reasonably determined
by the Calculation Agent.
This Product is not capital protected.
The terms of the Product may be subject to adjustments during its lifetime. Detailed information on such
adjustments is to be found in the General Terms and Conditions for Structured Currencies and commodities
("SCC")".
General Information

Issuer UBS
AG,
Zurich
Issuer Rating
Aa2 Moody's (under review for possible downgrade) / A+ S&P's / A+ Fitch
Lead Manager
UBS AG, Zurich (UBS Investment Bank)
Calculation Agent
UBS AG, Zurich (UBS Investment Bank)
Paying Agent
UBS AG, Zurich
Listing
Listing on the Luxembourg Stock Exchange has been applied for
Secondary Market
Daily price indications will be available on Reuters UBSWDR38 and Bloomberg
between 8.00 am and 6.00 pm CET
Minimum Investment
1 Certificate
Minimum Trading Lot
1 Certificate
Status
Unsecured / Unsubordinated
Clearing
SIX SIS, Euroclear, Clearstream (booked at SIX SIS AG)
Form of deed
Book-entry Security
Governing Law / Jurisdiction
Swiss / Zurich
Product
One Currency Certificate with the given Nominal Amount is equivalent to one
(1) "Product". "Products" wherever used herein shall be construed to mean
integral multiples of the same, subject to the Issue Size.
Tax Treatment

Swiss Federal Stamp Duty
Secondary market transactions are not subject to Swiss stamp duty.
Swiss Federal Income Tax
The Product is not subject to the Swiss Federal as well as the cantonal and
communal income tax.
Swiss Withholding Tax
The product is not subject to the Swiss withholding tax.
EU Savings Tax
For Swiss paying agents, the product is not subject to the EU Savings Tax (TK
14)
The tax information only provides a general overview of the potential tax consequences linked to this product at
the time of issue. Tax laws and tax doctrine may change, possibly with retroactive effect.
Structured FX

Contact:
UBS AG, P.O. Box, 8098 Zurich
London: +44-20-7567
7400*
Zurich
E-Mail:
[email protected]
Singapore: +65-6495
8960*
Private Investors:
Please contact your client
advisor
Internet:
www.ubs.com/keyinvest
Stamford: +1-203-719
1515*
Institutional Investors: +41-44-239 72 72*
Please note that calls made to the numbers marked with an asterisk (*) may be recorded. Should you call one of these numbers, we shall assume that you consent to this business practice.
UBS Investment Bank is a business division of UBS AG



Valor: 10374790

Page 3/6
Final Terms


Product Documentation

Final Terms
This document serves as and fulfils the requirements of a `Simplified Prospectus' in accordance with Art. 5 of
the Swiss Federal Act on Collective Investment Schemes (CISA). The Simplified Prospectus together with the
`General Terms and Conditions for Structured Currencies and Commodities ("SCC")', as amended from time to
time ("General Terms and Conditions") shall form the entire documentation for this Product ("Product
Documentation"), and accordingly the Final Terms should always be read together with the General Terms and
Conditions. Definitions used in the Final Terms, but not defined therein shall have the meaning given to them in
the General Terms and Conditions. Furthermore, the Final Terms shall serve as and fulfil the requirements of a
`Simplified Prospectus' in accordance with Art. 5 of the Swiss Federal Act on Collective Investment Schemes
(CISA). In the event that the Product is listed (see above item `Listing' under `General Information'), the Product
Documentation will be amended in accordance with the listing requirements of the relevant Exchange.

During the whole term of this Product, the respective documents can be ordered free of charge from UBS AG at
P.O. Box, CH-8098 Zurich (Switzerland), via telephone (+41-(0)44-239 47 03), fax (+41-(0)44-239 69 14) or via e-
mail ([email protected]). In addition, for clients outside of the United Kingdom, the Product
Documentation is available on the internet at www.ubs.com/keyinvest.

Notices in connection with this Product shall be validly given by publication in electronic media such as Reuters
and/or Investdata. In addition, any changes with regard to the terms of this Product shall be published on the
internet on UBS Quotes and, for clients outside of the United Kingdom, on UBS Keyinvest
(www.ubs.com/keyinvest).
Classification


This Product does not represent a participation in any of the collective investment schemes pursuant to Art. 7 ss of
the Swiss Federal Act on Collective Investment Schemes (CISA) and thus does not require an authorisation of the
Swiss Financial Market Supervisory Authority (FINMA). Therefore, investors in this Product are not eligible for the
specific investor protection under the CISA.

Prudential Supervision

UBS AG is authorised and regulated by the Swiss Financial Market Supervisory Authority (FINMA). In addition, its
London Branch is authorised and regulated by the Financial Services Authority (FSA) and its Jersey Branch by the
Jersey Financial Services Commission (JFSC).

2. Prospects of Profits and Losses

Market Expectation
Investors in this Product expect the Underlying to trade positively up (bull) or
negatively down (bear).
Risk Tolerance
Investors in this Product should be experienced investors familiar with both
derivative products and the foreign exchange market.
Investors are aware that the entire invested amount is at risk.
Profit Potential
The Product allows unlimited participation.
Loss Potential
On the Redemption Date, the risk of loss is defined as the difference between
the purchase price and zero. Therefore the maximum potential loss is equal to
the invested amount.

Structured FX

Contact:
UBS AG, P.O. Box, 8098 Zurich
London: +44-20-7567
7400*
Zurich
E-Mail:
[email protected]
Singapore: +65-6495
8960*
Private Investors:
Please contact your client
advisor
Internet:
www.ubs.com/keyinvest
Stamford: +1-203-719
1515*
Institutional Investors: +41-44-239 72 72*
Please note that calls made to the numbers marked with an asterisk (*) may be recorded. Should you call one of these numbers, we shall assume that you consent to this business practice.
UBS Investment Bank is a business division of UBS AG



Valor: 10374790

Page 4/6
Final Terms

3. Significant Risks for Investors

For product specific risks please see above (2. Prospects of Profits and Losses)

Risk Factors relating to the Issuer

In addition to the market risk with regard to the development of the Underlying, each Investor bears the general
risk that the financial situation of the Issuer could deteriorate. The Products constitute immediate, unsecured and
unsubordinated obligations of the Issuer, which, particularly in case of insolvency of the Issuer, rank pari passu
with each and all other current and future unsecured and unsubordinated obligations of the Issuer, with the
exception of those that have priority due to mandatory statutory provisions. The general assessment of the Issuer's
creditworthiness may affect the value of the Products. This assessment generally depends on the ratings assigned
to the Issuer or its affiliated companies by rating agencies such as Moody's, Fitch and Standard & Poor's.

The Issuer Ratings indicated in this document reflect the situation at the time of issuance and may be subject to
changes. The actual Issuer Ratings at any given time can be seen on the Issuer's website (www.ubs.com) under
"Analysts & Investors".
Secondary Market

The Issuer or the Lead Manager, as applicable, intends, under normal market conditions, to provide bid and offer
prices for this Product on a regular basis. However, the Issuer or the Lead Manager, as applicable, makes no firm
commitment to provide liquidity by means of bid and offer prices for this Product, and assumes no legal obligation
to quote any such prices or with respect to the level or determination of such prices. Potential Investors therefore
should not rely on the ability to sell this Product at a specific time or at a specific price.

In special market situations, where the Issuer is completely unable to enter into hedging transactions, or where
such transactions are very difficult to enter into, the spread between the bid and offer prices may be temporarily
expanded, in order to limit the economic risks of the Issuer.
Market Risk

The investor is exposed to market disruption events (such as trading disruption, exchange disruption and early
closure of the relevant exchange), adjustments and early termination which could have an impact on the
redemption amount through delay in payment or change in value. For a detailed description of such events and
their effects please read the Final Terms and the base prospectus (SCC).
Structured FX

Contact:
UBS AG, P.O. Box, 8098 Zurich
London: +44-20-7567
7400*
Zurich
E-Mail:
[email protected]
Singapore: +65-6495
8960*
Private Investors:
Please contact your client
advisor
Internet:
www.ubs.com/keyinvest
Stamford: +1-203-719
1515*
Institutional Investors: +41-44-239 72 72*
Please note that calls made to the numbers marked with an asterisk (*) may be recorded. Should you call one of these numbers, we shall assume that you consent to this business practice.
UBS Investment Bank is a business division of UBS AG



Valor: 10374790

Page 5/6
Final Terms

Important Information


This information is communicated by UBS AG and/or its affiliates ("UBS"). UBS may from time to time, as principal
or agent, have positions in, or may buy or sell, or make a market in any securities, currencies, financial instruments
or other assets underlying the transaction to which this document relates. UBS may provide investment banking
and other services to and/or have officers who serve as directors of the companies referred to in this document.
UBS' trading and/or hedging activities related to this transaction may have an impact on the price of the
underlying asset and may affect the likelihood that any relevant barrier is crossed. UBS has policies and procedures
designed to minimise the risk that officers and employees are influenced by any conflicting interest or duty and
that confidential information is improperly disclosed or made available.

In certain circumstances UBS sells this Product to dealers and other financial institutions at a discount to the issue
price or rebates to them for their account some proportion of the issue price. Further information is available on
request.

Structured transactions are complex and may involve a high risk of loss. Prior to entering into a transaction you
should consult with your own legal, regulatory, tax, financial and accounting advisors to the extent you consider it
necessary, and make your own investment, hedging and trading decisions (including decisions regarding the
suitability of this transaction) based upon your own judgement and advice from those advisers you consider
necessary. Save as otherwise expressly agreed in writing, UBS is not acting as your financial adviser or fiduciary in
any transaction.

This document should not be construed as an offer, personal recommendation or solicitation to conclude a
transaction and should not be treated as giving investment advice. The terms of any investment will be exclusively
subject to the detailed provisions, including risk considerations, contained in the Information Memorandum,
Prospectus or other issuer documentation for the issue of the Products/Notes (the "Prospectus").

UBS makes no representation or warranty relating to any information herein which is derived from independent
sources. This document shall not be copied or reproduced without UBS' prior written permission.

No action has been or will be taken in any jurisdiction that would permit a public offering of the Products
described herein, save where explicitly stated in the Product Documentation. The Products must be sold in
accordance with all applicable selling restrictions in the jurisdictions in which they are sold.

There is a possibility that costs, including taxes, related to transactions in connection with this Product may arise
for the Investor that are not paid by UBS or imposed by it.
Selling Restrictions

Any Products purchased by any person for resale may not be offered in any jurisdiction in circumstances which would result in the
Issuer being obliged to register any further documentation relating to this Product in such jurisdiction.

The restrictions listed below must not be taken as definitive guidance as to whether this Product can be sold in a jurisdiction.
Additional restrictions on offering, selling or holding of this Product may apply in other jurisdictions. Investors in this Product should
seek specific advice before on-selling this Product.

Europe - For EEA jurisdictions (EU member states plus Norway, Iceland and Liechtenstein) that have implemented the EU Prospectus Directive
("EU-PD"), the Product Documentation for this Product DO NOT QUALIFY as a prospectus published in accordance with the requirements of the
EU-PD. Unless and until a prospectus has been published in accordance with the requirements of the EU-PD, this Product may not be offered or
sold in EEA jurisdictions that have implemented the EU-PD other than 1) in minimum denominations of, or total consideration per Investor of at
least, EUR 50,000 (or equivalent in other currencies) or 2) only to Qualified Investors; and/or (aggregated for all distributors) to less than 100
offerees that are not Qualified Investors per EEA jurisdiction. A "Qualified Investor" is a legal entity that (i) is authorised or regulated to operate in
the financial markets or has the sole purpose to invest in securities; or (ii) meets two of the following three criteria (as shown in its last annual or
consolidated accounts): (a) an average number of at least 250 employees during the last financial year; (b) a total balance sheet of more than EUR
43,000,000; and (c) an annual net turnover of more than EUR 50,000,000.

For EEA jurisdictions that have not implemented the EU-PD, sales must be in compliance with the law of that jurisdiction.
Hong Kong - This Product may not be offered or sold in Hong Kong.

Singapore - This document has not been registered as a prospectus with the Monetary Authority of Singapore. Accordingly, this document and
any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of this Product may not be
circulated or distributed, nor may this Product be offered or sold, or be made the subject of an invitation for subscription or purchase, whether
directly or indirectly, to persons in Singapore other than (i) to an institutional investor under Section 274 of the Securities and Futures Act (Cap.
289) of Singapore ("SFA"), (ii) to a relevant person, or any person pursuant to Section 275(1A) of the SFA, and in accordance with the conditions,
specified in Section 275 of the SFA or (iii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the
SFA.
Structured FX

Contact:
UBS AG, P.O. Box, 8098 Zurich
London: +44-20-7567
7400*
Zurich
E-Mail:
[email protected]
Singapore: +65-6495
8960*
Private Investors:
Please contact your client
advisor
Internet:
www.ubs.com/keyinvest
Stamford: +1-203-719
1515*
Institutional Investors: +41-44-239 72 72*
Please note that calls made to the numbers marked with an asterisk (*) may be recorded. Should you call one of these numbers, we shall assume that you consent to this business practice.
UBS Investment Bank is a business division of UBS AG



Valor: 10374790

Page 6/6
Final Terms

Where this Product is subscribed or purchased under Section 275 of the SFA by a relevant person which is:
(a)
a corporation (which is not an accredited investor) the sole business of which is to hold investments and the entire share capital of which
is owned by one or more individuals, each of whom is an accredited investor; or
(b)
a trust (where the trustee is not an accredited investor) whose sole purpose is to hold investments and each beneficiary is an accredited
investor,
the shares, debentures and units of shares and debentures of that corporation or the beneficiaries' rights and interest in that trust shall not be
transferable for six months after that corporation or that trust has acquired the securities under Section 275 of the SFA except:
(1)
to an institutional investor (for corporations, under Section 274 of the SFA) or to a relevant person, or to any person pursuant to an offer
that is made on terms that such shares, debentures and units of shares and debentures of that corporation or such rights and interest in
that trust are acquired at a consideration of not less than S$200,000 (or its equivalent in a foreign currency) for each transaction, whether
such amount is to be paid for in cash or by exchange of securities or other assets, and further for corporations, in accordance with the
conditions specified in Section 275 of the SFA;
(2)
where no consideration is or will be given for the transfer; or
(3)
where the transfer is by operation of law.

UK - For the purposes of non-discretionary accounts, this Product should not be sold with a consideration of less than 50,000 EUR or equivalent.

USA - This Product may not be sold or offered within the United States or to U.S. persons, the foregoing shall not, however, prohibit sales to U.S.
offices of UBS AG.

Structured FX

Contact:
UBS AG, P.O. Box, 8098 Zurich
London: +44-20-7567
7400*
Zurich
E-Mail:
[email protected]
Singapore: +65-6495
8960*
Private Investors:
Please contact your client
advisor
Internet:
www.ubs.com/keyinvest
Stamford: +1-203-719
1515*
Institutional Investors: +41-44-239 72 72*
Please note that calls made to the numbers marked with an asterisk (*) may be recorded. Should you call one of these numbers, we shall assume that you consent to this business practice.
UBS Investment Bank is a business division of UBS AG








General Terms and Conditions for
Structured Currencies and Precious Metals












Date
20 August 2009
Version 2009-12

UBS Investment Bank is a business division of UBS AG







1. Preliminary
Remarks................................................................................................................3
2. Risk
Factors.............................................................................................................................4
2.1 GENERAL RISK FACTORS .......................................................................................................4
2.2 MARKET RISK FACTORS ........................................................................................................6
2.3 RISK FACTORS RELATING TO THE PRODUCTS ..............................................................................7
2.4 RISK FACTORS RELATING TO THE ISSUER..................................................................................10
3. Definitions ............................................................................................................................12
4. Terms
and
Conditions ...........................................................................................................14
4.1 STATUS OF THE PRODUCTS/CLASSIFICATION ............................................................................14
4.2 FORM OF SECURITIES ..........................................................................................................14
4.3 ADJUSTMENTS ..................................................................................................................14
4.4 PRICE SOURCE DISRUPTION EVENT.........................................................................................16
4.5 MARKET DISRUPTION EVENT ................................................................................................16
4.6 FX DISRUPTION EVENT........................................................................................................19
4.7 SETTLEMENT DISRUPTION EVENT ...........................................................................................19
4.8 LISTING ...........................................................................................................................20
4.9 TAXATION/TAX CALL .........................................................................................................20
4.10 FURTHER ISSUES ................................................................................................................20
4.11 SEVERABILITY AND AMENDMENT OF TERMS AND CONDITIONS .....................................................20
4.12 CALCULATION ..................................................................................................................21
4.13 SUBSTITUTION...................................................................................................................21
4.14 ILLEGALITY .......................................................................................................................21
4.15 NOTICES..........................................................................................................................22
4.16 STATUTORY PERIOD OF LIMITATION .......................................................................................22
4.17 PROCEEDS FROM THE SALE OF PRODUCTS ...............................................................................22
4.18 APPLICABLE LAW AND JURISDICTION......................................................................................22
APPENDIX - Description of UBS AG ..................................................................................................



UBS AG, Version 2009-12, 20 August 2009
Page 2 of 22




Document Outline