New Issue: UBS sells $3.75 million capped trigger gears on iShares MSCI EM ETF

By Marisa Wong

Morgantown, W.Va., Jan. 4 – UBS AG, London Branch priced $3.75 million of 0% capped trigger gears due Dec. 31, 2020 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund return is greater than zero, the payout at maturity will be par of $10 plus 2 times the fund return, subject to a maximum gain of 38%. Investors will receive par if the fund declines by 20% or less and will lose 1% for each 1% decline from its initial level if the fund declines by more than 20%.

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

Issuer:	UBS AG, London Branch
Issue:	Capped trigger gears
Underlying ETF:	iShares MSCI Emerging Markets ETF
Amount:	$3,746,800
Maturity:	Dec. 31, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If fund return is positive, par plus 2 times fund return, subject to a maximum gain of 38%; par if fund declines by 20% or less; 1% loss for each 1% decline from initial level if fund declines by more than 20%
Initial price:	$46.46
Downside threshold:	$37.17, 80% of initial price
Pricing date:	Dec. 26
Settlement date:	Dec. 29
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2.5%
Cusip:	90280X810

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