UBS plans trigger step performance notes tied to Vanguard FTSE EM ETF

By Angela McDaniels

Tacoma, Wash., July 1 – UBS AG, London Branch plans to price 0% trigger step performance securities due July 31, 2018 linked to the Vanguard FTSE Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If the ETF return is zero or positive, the payout at maturity will be par of $10 plus the greater of the step return and the ETF return. The step return is expected to be 14% to 22% and will be set at pricing. Investors will receive par if the ETF falls by up to 20% and will be fully exposed to losses from the initial share price if it falls by more than 20%.

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

The notes are expected to price July 28 and settle July 31.

The Cusip number is 90273E340.

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