New Issue: UBS prices $3.7 million buffer gears linked to S&P, Dow

By Kiku Steinfeld

Chicago, July 26 – UBS AG, London Branch priced $3.7 million of 0% buffer gears due June 2, 2026 linked to the lesser performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes above its initial level, the payout at maturity will be par plus 1.1 times the gain of the lesser performing index.

If the lesser performing index finishes at or below its initial level but at or above its 80% downside threshold, the payout will be par.

Investors will be exposed to any decline of the lesser performing index beyond 20%.

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

Issuer:	UBS AG, London Branch
Issue:	Buffer gears
Underlying indexes:	S&P 500, Dow Jones industrial average
Amount:	$3,704,000
Maturity:	June 2, 2026
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If each index gains, par plus 1.1 times the gain of the lesser performing index; if the lesser performing index finishes at or below its initial level but at or above its downside threshold, par; exposure to any decline of lesser performing index beyond 20%
Initial levels:	4,204.11 for S&P, 34,529.45 for Dow
Downside thresholds:	3,363.29 for S&P, 27,623.56 for Dow; 80% of initial levels
Pricing date:	May 28
Settlement date:	June 3
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	None
Cusip:	90276BZX4

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