New Issue: UBS prices $11.18 million capped trigger in-step notes tied to S&P

By Sarah Lizee

Olympia, Wash., Jan. 3 – UBS AG, London Branch priced $11.18 million of 0% capped trigger in-step securities due June 29, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the underlying index finishes at or above its 80% downside threshold, the payout at maturity will be par of $10 plus the greater of the 10% step return and any gain in the index up to a maximum return of 21.1%

Otherwise, investors will be fully exposed to any losses of the index.

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

Issuer:	UBS AG, London Branch
Issue:	Capped trigger in-step securities
Underlying index:	S&P 500 index
Amount:	$11,175,700
Maturity:	June 29, 2022
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index finishes at or above 80% downside threshold, par plus greater of 10% and index return, capped at 21.1%; otherwise, 1% loss per 1% decline
Initial level:	3,239.91
Downside threshold/step barrier:	2,591.93, 80% of initial level
Pricing date:	Dec. 26
Settlement date:	Dec. 31
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2.25%
Cusip:	90281F586

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