New Issue: UBS prices $4.81 million capped buffer Gears linked to basket of 20 stocks

By William Gullotti

Buffalo, N.Y., May 6 – UBS AG London Branch priced $4.81 million of 0% capped buffer Gears due April 15, 2026 linked to an equally weighted basket of 20 stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the common stocks of Amazon.com, Inc., Arista Networks, Inc., Broadcom Inc., Constellation Energy Corp., Salesforce, Inc., Datadog, Inc., Dell Technologies Inc., Digital Realty Trust, Inc., Equinix, Inc., Eaton Corp., plc, Alphabet Inc., Intel Corp., KLA Corp., Meta Platforms, Inc., Microsoft Corp., Micron Technology, Inc., ServiceNow, Inc., Nvidia Corp., Snowflake Inc. and Tesla, Inc.

If the basket finishes at or above its initial level, the payout at maturity will be par plus double the basket gain, up to a maximum return of par plus 32.36%.

If the basket falls by no more than 10%, the payout will be par.

Otherwise, investors will lose 1% for each 1% decline of the basket beyond the 10% buffer.

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

Issuer:	UBS AG London Branch
Issue:	Capped buffer Gears
Underlying basket:	Amazon.com, Inc., Arista Networks, Inc., Broadcom Inc., Constellation Energy Corp., Salesforce, Inc., Datadog, Inc., Dell Technologies Inc., Digital Realty Trust, Inc., Equinix, Inc., Eaton Corp., plc, Alphabet Inc., Intel Corp., KLA Corp., Meta Platforms, Inc., Microsoft Corp., Micron Technology, Inc., ServiceNow, Inc., Nvidia Corp., Snowflake Inc., Tesla, Inc.; equal weights
Amount:	$4,809,000
Maturity:	April 15, 2026
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If basket finishes at or above its initial level, par plus two times return up to maximum return of par plus 32.36%; if basket falls by up to 10%, par; otherwise, 1% loss for each 1% decline of basket beyond the 10% buffer
Initial levels:	$185.95 for Amazon, $288.22 for Arista, $1,322.37 for Broadcom, $191.08 for Constellation, $299.62 for Salesforce, $125.82 for Datadog, $123.37 for Dell, $141.40 for Digital Realty, $775.97 for Equinix, $314.37 for Eaton, $157.66 for Alphabet, $37.20 for Intel, $687.12 for KLA, $519.83 for Meta, $423.26 for Microsoft, $122.20 for Micron, $769.19 for ServiceNow, $870.39 for Nvidia, $152.97 for Snowflake, $171.76 for Tesla
Buffer level:	90% of initial basket level
Pricing date:	April 10
Settlement date:	April 15
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2%
Cusip:	90304K133

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