New Issue: UBS prices $8.28 million capped gears linked to iShares MSCI EM ETF

By Kiku Steinfeld

Chicago, March 15 – UBS AG, London Branch priced $8.28 million of 0% capped gears due April 29, 2022 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is greater than zero, the payout at maturity will be par of $10 plus 3 times the ETF return, capped at par plus 20.1%. If the ETF return is negative, investors will have one-to-one exposure to the decline.

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

Issuer:	UBS AG, London Branch
Issue:	Capped gears
Underlying ETF:	iShares MSCI Emerging Markets ETF
Amount:	$8,284,000
Maturity:	April 29, 2022
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 3 times any ETF gain, capped at par plus 20.1%; one-to-one exposure to any ETF decline
Initial share price:	$56.09
Pricing date:	Feb. 25
Settlement date:	Feb. 26
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2%
Cusip:	90278X392

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