New Issue: UBS sells $100,000 trigger return optimization notes on Deutsche Bank

By Marisa Wong

Morgantown, W.Va., Nov. 7 – UBS AG, London Branch priced $100,000 of trigger return optimization securities due Nov. 5, 2020 linked to the American depositary receipts of Deutsche Bank AG, according to a 424B2 filing with the Securities and Exchange Commission.

If Deutsche Bank stock finishes above the initial price, the payout at maturity will be par plus 2 times the gain, capped at par plus 45.57%.

If the stock return is zero or negative but the stock finishes at or above the 80% trigger level, the payout will be par. Otherwise, investors will share in any losses.

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

Issuer:	UBS AG, London Branch
Issue:	Trigger return optimization securities
Underlying ADRs:	Deutsche Bank AG (Symbol: DB)
Amount:	$100,000
Maturity:	Nov. 5, 2020
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 2 times any share price gain, capped at par plus 45.57%; par if stock falls by up to 20%; otherwise, exposure to any share price decline
Initial share price:	$10.52
Trigger price:	$8.42, 80% of initial price
Pricing date:	Nov. 2
Settlement date:	Nov. 6
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	1.5%
Cusip:	90286K101

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