New Issue: UBS prices $1.33 million contingent absolute return trigger gears tied to Dow, S&P

By William Gullotti

Buffalo, N.Y., Nov. 13 – UBS AG London Branch priced $1.33 million of 0% contingent absolute return trigger gears due Nov. 6, 2026 linked to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange

If each index finishes above its initial level, the payout at maturity will be par plus 1.08 times the return of the laggard index.

If the laggard index falls but finishes at or above the downside threshold level, 70% of initial level, the payout will be par plus the absolute value of that index’s return.

Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level.

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

Issuer:	UBS AG London Branch
Issue:	Contingent absolute return trigger gears
Underlying indexes:	S&P 500 index, Dow Jones industrial average
Amount:	$1,325,000
Maturity:	Nov. 6, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes above initial level, par plus 1.08 times the laggard index’s return; if laggard index falls but finishes at or above downside threshold level, par plus absolute value of that index’s return; otherwise, one-to-one exposure to worst performer’s decline from initial level
Initial levels:	4,358.34 for S&P, 34,061.32 for Dow
Downside thresholds:	3,050.84 for S&P, 23,842.92 for Dow; 70% of initial levels
Pricing date:	Nov. 3
Settlement date:	Nov. 8
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	None
Cusip:	90279WPF5

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