New Issue: UBS prices $2.76 million trigger step performance notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Oct. 31 – UBS AG, London Branch priced $2.76 million of 0% trigger step performance securities due Oct. 31, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the 21.5% step return and the index return. Investors will receive par if the index falls by up to 20% and will be fully exposed to losses from the initial level if it falls by more than 20%.

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

Issuer:	UBS AG, London Branch
Issue:	Trigger step performance securities
Underlying index:	S&P 500
Amount:	$2,759,250
Maturity:	Oct. 31, 2018
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is zero or positive, par plus greater of index return and 21.5%; par if index falls by 20% or less; full exposure to losses if index falls by more than 20%
Initial index level:	1,985.05
Trigger level:	1,588.04 , 80% of initial level
Pricing date:	Oct. 28
Settlement date:	Oct. 31
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	3%
Cusip:	90274B204

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