New Issue: UBS prices $2 million capped buffer gears tied to Russell 2000, S&P 500

By Wendy Van Sickle

Columbus, Ohio, Dec. 1 – UBS AG, London Branch priced $2 million of 0% capped buffer gears due March 15, 2023 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its 88% strike threshold, the payout at maturity will be par plus 1.58 times the gain of the worse performing index less an adjustment factor of 0.88, up to a maximum return of 63.2%.

Investors will be exposed to losses beyond 12%.

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

Issuer:	UBS AG, London Branch
Issue:	Capped buffer gears
Underlying indexes:	Russell 2000, S&P 500
Amount:	$2 million
Maturity:	March 15, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If each index gains or falls by up to 12%, par plus 1.58 times return of worse performing index less an adjustment factor of 0.88, capped at par plus 63.2%; exposure to any decline beyond 12%
Initial levels:	1,536.433 for Russell, 2,627.04 for S&P
Downside thresholds:	1,352.061 for Russell, 2,311.80 for S&P; 88% of initial levels
Pricing date:	Nov. 28
Settlement date:	Dec. 1
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	1%
Cusip:	90280X786

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