New Issue: UBS sells $13.05 million buffered participation securities on S&P

By Sarah Lizee

Olympia, Wash., Dec. 6 – UBS AG, London Branch priced $13.05 million 0% buffered participation securities due Nov. 26, 2021 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 of $10 plus the index return, subject to a maximum return of 13.47%.

If the index return is zero or negative but the index has declined by 15% or less, the payout will be par.

If the index declines by more than 15%, investors will lose 1% for every 1% that the index declines beyond 15%.

UBS Securities LLC and Morgan Stanley & Co. LLC are the agents.

Issuer:	UBS AG, London Branch
Issue:	Buffered participation securities
Underlying index:	S&P 500
Amount:	$13,049,150
Maturity:	Nov. 26, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is positive, par plus the index return, subject to a maximum return of 13.47%; if the index return is zero or negative but the index has declined by 15% or less, par; if the index declines by more than 15%, 1% loss for every 1% that the index declines beyond 15%
Initial index level:	3,110.29
Pricing date:	Nov. 22
Settlement date:	Nov. 27
Agents:	UBS Securities LLC and Morgan Stanley & Co. LLC
Fees:	2.5%
Cusip:	90281F172

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