New Issue: UBS sells $1.78 million two-year capped buffer gears linked to S&P 500

By Marisa Wong

Los Angeles, July 21 – UBS AG, London Branch priced $1,775,100 of 0% capped buffer gears due July 20, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus the 2 times any gain of the index, capped at par plus 16.2%.

If the index falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.

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

Issuer:	UBS AG, London Branch
Issue:	Capped buffer gears
Underlying index:	S&P 500 index
Amount:	$1,775,100
Maturity:	July 20, 2022
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 2 times any index gain, capped at par plus 16.2%; if the index falls by up to 10%, par; otherwise, 1% loss for every 1% index decline beyond 10%
Initial level:	3,226.56
Downside threshold:	2,903.90, 90% of initial level
Pricing date:	July 15
Settlement date:	July 20
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2%
Cusip:	90281K528

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