New Issue: UBS prices $4.93 million capped airbag gears on Vanguard Real Estate Index ETF

Kiku Steinfeld

Chicago, May 5 – UBS AG London Branch priced $4.93 million of 0% capped airbag gears due May 19, 2022 linked to the Vanguard Real Estate Index Fund ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par plus 2 times the ETF return, subject to a maximum gain of 10.25%. Investors will receive par if the ETF falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.

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

Issuer:	UBS AG London Branch
Issue:	Capped airbag gears
Underlying ETF:	Vanguard Real Estate Index Fund ETF
Amount:	$4,933,000
Maturity:	May 19, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 2 times ETF return, subject to a maximum gain of 10.25%; par if ETF falls by up to 10%; 1.1111% loss for each 1% decline beyond 10%
Initial price:	$94.26
Downside threshold:	$84.83, 90% of initial level
Pricing date:	April 15
Settlement date:	April 20
Agents:	UBS Investment Bank and UBS Financial Services Inc.
Fees:	0.25%
Cusip:	90276BYJ6

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