By Wendy Van Sickle
Columbus, Ohio, Dec. 21 – UBS AG, London Branch priced $20 million of 0% capped buffer in-gears due March 29, 2027 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gain is greater than or equal to 50%, the payout at maturity will be par plus 81.22%.
If the index gain is less than 50% but greater than or equal to 34%, the payout at maturity will be par plus 288.4375% of the gain in excess of 34% all plus 35.07%.
If the index gain is less than 34% but greater than or equal to 13%, par plus 105% of the gain in excess of 13%, all plus 13.02%.
If the index gain is between 5% and 13%, the payout will be par plus 13.02%.
If the index return is less than 105% but greater than or equal to 90%, the payout at maturity will be par plus 0.868% for each 1% that the return exceeds 90%.
Otherwise, investors will lose 1% for every 1% decline beyond 10%.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Capped buffer in-gears
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| Underlying index: | Dow Jones industrial average
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| Amount: | $20 million
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| Maturity: | March 29, 2027
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If index gain is greater than 50%, par plus 81.22%; if the index gain is less than 50% but greater than 34%, par plus 288.4375% of the index return, all plus 35.07%; if the index gain is less than 34% but greater than or equal to 13%, par plus 105% of the gain in excess of 13%, all plus 13.02%; if index return is between 105% and 113%, par plus 13.02%; if index return is between 90% and 105%, par plus 0.868% for every 1% of difference between return and 90%; 1% loss for every 1% decline beyond 10%
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| Initial level: | Average of index closing levels from Dec. 14 to and including Dec. 27
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| Final level: | Average of index closing levels over the three-month period from Dec. 21, 2026 to and including March 23, 2027
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| Pricing date: | Dec. 15
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| Settlement date: | Dec. 20
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| Agents: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 0.5%
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| Cusip: | 90285D389
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