New Issue: UBS prices $842,000 trigger autocallable contingent yield notes on three ETFs

Chicago, Oct. 17 – UBS AG, London Branch priced $842,000 of trigger autocallable contingent yield notes due Oct. 16, 2025 linked to the least performing of the iShares Russell 2000 ETF, the SPDR S&P 500 ETF Trust and the Industrial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at the rate of 10% per year if each ETF closes at or above its coupon barrier, 60% of its initial level, on the related observation date.

The notes will be automatically called at par plus coupon if the shares of each ETF close at or above its initial share price on any quarterly call observation date after six months.

If the notes are not called and the final share price of each ETF is greater than or equal to the downside threshold level, 50% of the initial share price, the payout at maturity will be par plus any final coupon. Otherwise, investors will lose 1% for every 1% that the final share price of the least performing ETF is less than its initial share price, paid in shares.

UBS Securities LLC and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes
Underlying ETFs:	iShares Russell 2000 ETF, SPDR S&P 500 ETF Trust and Industrial Select Sector SPDR Fund
Amount:	$842,000
Maturity:	Oct. 16, 2025
Coupon:	10% per year, paid quarterly, if each ETF closes at or above its coupon barrier on any related observation date
Price:	Par
Payout at maturity:	Par plus any final coupon unless any ETF finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard ETF from initial level, paid in shares
Call:	Automatically at par plus coupon if each ETF closes at or above its initial level on any quarterly call observation date after six months
Initial levels:	$167.26 for Russell ETF, $356.56 for S&P ETF, $84.77 for industrial
Coupon barrier levels:	$100.36 for Russell ETF, $213.94 for S&P ETF, $50.86 for industrial; 60% of initial levels
Downside thresholds:	$83.63 for Russell ETF, $178.28 for S&P ETF, $42.39 for industrial; 50% of initial levels
Share delivery amounts:	5.9787 for Russell ETF, 2.8046 for S&P ETF, 11.7966 for industrial
Pricing date:	Oct. 12, 2022
Settlement date:	Oct. 17, 2022
Agents:	UBS Securities LLC and UBS Investment Bank
Fees:	0.25%
Cusip:	90279FA68

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