By Marisa Wong
Madison, Wis., Dec. 2 - UBS AG, London Branch priced $2.23 million of 0% relative performance notes due Nov. 30, 2018 linked to the S&P 500 index and the NYSE US 5 Year Treasury Futures index, according to a 424B3 filing with the Securities and Exchange Commission.
The S&P 500 is the "long index," and the 5Y Treasury Futures is the "short index." The relative return is the long index return minus the short index return.
If the long index return is greater than or equal to the short index return, the payout at maturity will be par plus 129.85% of the relative return.
If the long index return is less than the short index return, the payout will be par plus the relative return. Because the relative return will be negative in this case, investors will receive less than par.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Relative performance notes
|
| Underlying indexes: | S&P 500 index (long index) and NYSE US 5 Year Treasury Futures index (short index)
|
| Amount: | $2.23 million
|
| Maturity: | Nov. 30, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If long index return is greater than or equal to short index return, par plus 129.85% of amount by which long index outperforms short index; if long index return is less than short index return, par minus amount by which short index outperforms long index
|
| Initial index levels: | 1,802.48 for S&P 500 and 1,802.48 for Treasury index
|
| Pricing date: | Nov. 25
|
| Settlement date: | Nov. 29
|
| Agents: | UBS Financial Services Inc., UBS Investment Bank
|
| Fees: | 3.5%
|
| Cusip: | 90271R467
|
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