New Issue: UBS sells $501,000 step-down trigger autocallable notes on Nasdaq, Russell

By Wendy Van Sickle

Columbus, Ohio, May 16 – UBS AG, London Branch priced $501,000 of 0% step-down trigger autocallable notes due May 16, 2023 linked to the lesser performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annual rate of 7.52% if each index closes at or above its initial level on any annual observation date.

The payout at maturity will be par plus 37.6% unless either index finishes below the 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:	Nasdaq-100 index and Russell 2000 index
Amount:	$501,000
Maturity:	May 16, 2023
Coupon:	0%
Price:	Par of $10
Call:	At par plus 7.52% a year if each index closes above initial level on an annual observation date other than the final date when the call threshold will be the downside threshold
Payout at maturity:	Par plus 37.6% unless either index closes below 70% downside threshold, in which case 1% loss for each 1% decline of worse performing index
Initial index levels:	6,952.563 for Nasdaq, 1,606.792 for Russell
Downside thresholds:	4,866.794 for Nasdaq, 1,124.754 for Russell; 70% of initial levels
Pricing date:	May 11
Settlement date:	May 16
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2.5%
Cusip:	90281A298

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