New Issue: UBS prices $250,000 trigger return optimization notes on iShares Brazil

By Marisa Wong

Morgantown, W.Va., May 26 – UBS AG, London Branch priced $250,000 of trigger return optimization securities due May 31, 2019 linked to the iShares MSCI Brazil Capped exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund return is positive, the payout at maturity will be par plus five times the gain, capped at 30.87%.

If the fund return is zero or negative but the fund finishes at or above the 70% trigger level, the payout will be par. Otherwise, investors will share in any losses.

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

Issuer:	UBS AG, London Branch
Issue:	Trigger return optimization securities
Underlying fund:	iShares MSCI Brazil Capped ETF
Amount:	$250,000
Maturity:	May 31, 2019
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus five times any fund gain, capped at 30.87%; par if fund falls by up to 30%; otherwise, exposure to any losses
Initial share price:	$34.80
Trigger price:	$24.36, 70% of initial price
Pricing date:	May 23
Settlement date:	May 26
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2%
Cusip:	90278D107

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