New Issue: UBS sells $1.72 million trigger gears tied to Russell, Dow

By Wendy Van Sickle

Columbus, Ohio, April 15 – UBS AG, London Branch priced $1.72 million of 0% trigger gears due Oct. 15, 2025 linked to the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index return is positive, the payout at maturity will be par plus 2 times the lesser performing index return.

If either index falls by up to 40%, the payout will be par.

Investors will lose 1% for every 1% decline of the lesser performing index below the initial level if it finishes below the 60% downside threshold.

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

Issuer:	UBS AG, London Branch
Issue:	Trigger gears
Underlying index:	Dow Jones industrial average and Russell 2000 index
Amount:	$1,715,000
Maturity:	Oct. 15, 2025
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If each index return is positive, par plus 2 times the lesser performing index return; if either index falls by up to downside threshold, par; 1% loss for every 1% decline of the lesser performing index below the initial level if it finishes below the downside threshold
Initial index level:	1,246.726 for Russell, 23,719.37 for Dow
Downside threshold:	748.036 for Russell, 14,231.62 for Dow, 60% of initial level
Pricing date:	April 9
Settlement date:	April 15
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	3%
Cusip:	90276BAR4

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