New Issue: UBS prices $1.86 million trigger step performance notes linked to Vanguard EM ETF

By Angela McDaniels

Tacoma, Wash., June 27 – UBS AG, London Branch priced $1.86 million of 0% trigger step performance securities due June 29, 2018 linked to the Vanguard FTSE Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is zero or positive, the payout at maturity will be par of $10 plus the greater of 22.25% and the ETF return. Investors will receive par if the ETF falls by up to 20% and will be fully exposed to losses from the initial share price if it falls by more than 20%.

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

Issuer:	UBS AG, London Branch
Issue:	Trigger step performance securities
Underlying ETF:	Vanguard FTSE Emerging Markets ETF
Amount:	$1,860,500
Maturity:	June 29, 2018
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the ETF return is zero or positive, par plus greater of 22.25% and ETF return; par if ETF falls by up to 20%; full exposure to losses if ETF falls by more than 20%
Initial share price:	$43.11
Trigger price:	$34.49, 80% of initial price
Pricing date:	June 25
Settlement date:	June 30
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	3%
Cusip:	90272X661

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