New Issue: UBS prices $132,000 capped buffer gears linked to S&P 500

By Taylor Fox

New York, Nov. 25 – UBS AG, London Branch priced $132,000 of 0% capped buffer gears due May 23, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be two times any index gain, up to a maximum return of par plus 14%. Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline of the index beyond 10%.

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

Issuer:	UBS AG, London Branch
Issue:	Capped buffer gears
Underlying index:	S&P 500
Amount:	$132,000
Maturity:	May 23, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus two times any index gain, up to par plus 14% maximum return; par if index falls by up to 10%; 1% loss for every 1% decline of index beyond 10%
Initial index level:	3,567.79
Threshold level:	3,211.01; 90% of initial level
Pricing date:	Nov. 18
Settlement date:	Nov. 23
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2.5%
Cusip:	90276BKY8

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