New Issue: UBS sells $4.18 million bearish barrier market-linked notes on S&P 500

By Wendy Van Sickle

Columbus Ohio, Nov. 2 – UBS AG, London Branch priced $4.18 million of 0% bearish barrier market-linked notes with daily barrier observation due Oct. 29, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

A barrier event will occur if the closing level of the index is less than the lower barrier, the initial level minus 38.5% of initial level, on any day during the life of the notes.

If a barrier event has occurred or if the final level of the index is greater than or equal to its initial level, the payout at maturity will be par plus 2%.

Otherwise, investors will receive par plus the absolute value of the index return. In this case, the payout is capped at par plus 38.5%.

UBS Securities LLC and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Bearish barrier market-linked notes with daily barrier observation
Underlying index:	S&P 500
Amount:	$4,177,000
Maturity:	Oct. 29, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If index closes below lower barrier on any day during the life of the notes of if the final level is greater than or equal to the initial level, par plus 2%; otherwise, par plus the absolute value of the index return, capped at par plus 38.5%
Initial index level:	2,658.69
Lower barrier:	1,635.09, initial level minus 38.5% of initial level
Pricing date:	Oct. 26
Settlement date:	Oct. 31
Agents:	UBS Securities LLC and UBS Investment Bank
Fees:	1.5%
Cusip:	90270KUM9

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