New Issue: UBS sells $500,000 capped buffer gears on ETF basket

By Kiku Steinfeld

Chicago, May 15 – UBS AG, London Branch priced $500,000 of 0% capped buffer gears due Jan. 9, 2025 linked to an equally weighted basket consisting of the iShares MSCI Emerging Markets ETF and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.25 times the basket return, capped at par plus 25%.

Investors will receive par if the basket falls by up to 20% and will lose 1% for every 1% decline beyond 20%.

UBS Securities LLC and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Capped buffer gears
Underlying components:	iShares MSCI Emerging Markets ETF and iShares MSCI EAFE ETF, equally weighted
Amount:	$500,000
Maturity:	Jan. 9, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.25 times the basket gain, capped at par plus 25%; par if basket falls by up to 20%; otherwise, 1% loss for every 1% decline beyond buffer
Initial level:	$40.37 for EM, $68.42 for EAFE
Buffer level:	80% of initial level
Pricing date:	Jan. 9, 2023
Settlement date:	Jan. 12, 2023
Agents:	UBS Securities LLC and UBS Investment Bank
Fees:	0%
Cusip:	90279FR37

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