New Issue: UBS prices $34.73 million capped gears linked to index basket

Chicago, May 31 – UBS AG, London Branch priced $34.73 million of 0% capped gears due July 31, 2023 linked to an unequally-weighted basket of five indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The indexes are the Euro Stoxx 50 index with a 40% weight, the Nikkei 225 index with a 25% weight, the FTSE 100 index with a 17.5% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with a 7.5% weight.

If the basket return is greater than zero, the payout at maturity will be par of $10 plus three times the basket return, subject to a maximum return of 21.75%. If the basket 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 basket:	Euro Stoxx 50 index (40% weight), Nikkei 225 index (25% weight), FTSE 100 index (17.5% weight), Swiss Market index (10% weight) and S&P/ASX 200 index (7.5% weight)
Amount:	$34,728,750
Maturity:	July 31, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If basket return is greater than zero, par plus three times basket return, subject to 21.75% maximum return; one-to-one exposure to any basket decline
Initial levels:	3,677.10 for Stoxx, 26,677.80 for Nikkei, 7,522.75 for FTSE, 11,491.80 for Swiss, 7,155.237 for ASX
Pricing date:	May 25
Settlement date:	May 31
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2%
Cusip:	9026MP809

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