New Issue: UBS prices $11.05 million capped gears linked to S&P

By Wendy Van Sickle

Columbus, Ohio, April 29 – UBS AG, London Branch priced $11.05 million of 0% capped gears due June 30, 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 par plus three times any index gain, up to a maximum return of par plus 18.25%.

Otherwise, investors will receive 1% for every 1% decline of the index.

UBS Securities LLC and UBS Investment Bank LLC are the agents.

Issuer:	UBS AG, London Branch
Issue:	Capped gears
Underlying index:	S&P 500
Amount:	$11,048,530
Maturity:	June 30, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus three times any index gain, up to a maximum return of par plus 18.25%; otherwise, 1% for every 1% decline of index
Initial index level:	4,175.2
Pricing date:	April 26
Settlement date:	April 29
Agents:	UBS Securities LLC and UBS Investment Bank
Fees:	2%
Cusip:	9026MP437

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