New Issue: UBS prices $3 million step-down trigger autocallables on Stoxx, S&P

By Wendy Van Sickle

Columbus, Ohio, Nov. 29 – UBS AG, London Branch priced $3 million of 0% step-down trigger autocallable notes due Nov. 28, 2022 linked to the lesser performing of the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par of $10 plus an annual call premium of 9% if each index closes at or above its initial level on any annual observation date.

The payout at maturity will be par plus 45% unless either index finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.

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

Issuer:	UBS AG, London Branch
Issue:	Step down trigger autocallable notes
Underlying indexes:	S&P 500 and Euro Stoxx 50
Amount:	$3 million
Maturity:	Nov. 28, 2022
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If each index finishes at or above 70% downside threshold, par plus 45%; otherwise, 1% loss for each 1% decline of worse performing index
Call:	At par plus 9% if each index closes at or above its initial level on any annual observation date except the final observation date when the call level will be 70% of initial level
Initial index levels:	2,599.03 for S&P, 3,579.32 for Stoxx
Downside thresholds:	1,819.32 for S&P, 2,505.52 for Stoxx; 70% of initial levels
Pricing date:	Nov. 22
Settlement date:	Nov. 28
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2%
Cusip:	90280X778

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