New Issue: UBS prices $3.62 million capped trigger dual directional notes linked to S&P 500

Chicago, Oct. 29 – UBS AG, London Branch priced $3.62 million of 0% capped trigger dual directional notes due Nov. 4, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus the index return, subject to a maximum upside return of 7%.

If the index return is zero or negative and the final index level is greater than or equal to the trigger level, 80.75% of the initial level, the payout will be par plus the absolute value of the index return.

If the final index level is less than the trigger level, investors will lose 1% for every 1% that the index declines from its initial level.

J.P. Morgan Securities LLC and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Capped trigger dual directional notes
Underlying index:	S&P 500
Amount:	$3,618,000
Maturity:	Nov. 4, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus index return, subject to 7% maximum upside return; if index return is zero or negative and final index level is greater than or equal to trigger level, par plus absolute value of index return; if final index level is less than trigger level, 1% loss for every 1% that index declines from initial level
Initial level:	2,986.20
Trigger level:	2,411.36, or 80.75% of initial level
Trade date:	Oct. 18
Settlement date:	Oct. 23
Agents:	J.P. Morgan Securities LLC and UBS Investment Bank
Fees:	1%
Cusip:	90270KR76

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