New Issue: UBS sells $842,500 14-month capped gears linked to oil & gas ETF

By Marisa Wong

Morgantown, W.Va., Dec. 8 – UBS AG, London Branch priced $842,500 of 0% capped gears due Jan. 31, 2019 linked to the SPDR S&P Oil & Gas Exploration & Production 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 plus 3 times the ETF return, subject to a maximum gain of 26.31%. If the ETF return is less than zero, investors will have full exposure to the decline.

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

Issuer:	UBS AG, London Branch
Issue:	Capped gears
Underlying ETF:	SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$842,500
Maturity:	Jan. 31, 2019
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 3 times any ETF gain, capped at par plus 26.31%; full exposure to any losses
Initial price:	$34.42
Pricing date:	Nov. 27
Settlement date:	Nov. 30
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2%
Cusip:	90280X604

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