New Issue: UBS prices $501,000 capped trigger gears tied to Russell 2000

By Kiku Steinfeld

Chicago, April 25 – UBS AG, London Branch priced $501,000 of 0% capped trigger gears due July 30, 2026 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 2 times any gain of the index, capped at par plus 50%.

If the index falls by up to 20%, the payout will be par.

Otherwise, investors will lose 1% for every 1% that the index declines below the initial level.

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

Issuer:	UBS AG, London Branch
Issue:	Capped trigger gears
Underlying index:	Russell 2000 index
Amount:	$501,000
Maturity:	July 30, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains, par plus 2 times return of the index, capped at par plus 50%; if the index falls by up to 20%, par; otherwise, 1% loss for every 1% that the index declines below the initial level
Initial level:	1,954.896
Downside threshold:	1,563.917, 80% of initial level
Pricing date:	July 28, 2023
Settlement date:	Aug. 2, 2023
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	0.6%
Cusip:	90279GM89

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