Java final String optimisation

Some times I need a sub string of a string and I noticed that if you add final keyword, Java compiler makes a small optimization, isn't it?

For example :

String name = "this is a simple string";
String simple = name.substring(0,4);

Here Java creates two strings
but if you write this code in different way you get rid of one extra allocation

final String name = "this is a simple string";
final String simple = name.substring(0,4);

Both objects points to the same memory block and String object itself has a constant context
Am I right?

I am not sure about this conclusions, so, I will check it again when I have time.

If you know something how to use final for Strings and what exactly java compiler does, 

I'll be pleased if someone share his knowledges in this area