New Issue: UBS prices $4.77 million capped gears linked to S&P 500

By William Gullotti

Buffalo, N.Y., March 12 – UBS AG, London Branch priced $4.77 million of 0% capped gears due April 28, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 300% of any index gain, subject to a maximum return of par plus 13.35%.

Otherwise, investors will be fully exposed to any index decline.

UBS Securities LLC and UBS Investment Bank LLC are the agents.

Issuer:	UBS AG, London Branch
Issue:	Capped gears
Underlying index:	S&P 500 index
Amount:	$4,767,000
Maturity:	April 28, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 300% of any index gain, up to a maximum return of par plus 13.35%; otherwise, 1% for every 1% decline of index from initial level
Initial index level:	5,069.53
Pricing date:	Feb. 26
Settlement date:	Feb. 29
Agents:	UBS Securities LLC and UBS Investment Bank
Fees:	2.35%
Cusip:	90279W5U4

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