New Issue: UBS prices $2 million contingent absolute return autocallables linked to Visa

New York, May 11 – UBS AG, London Branch priced $2,000,000 of 0% contingent absolute return autocallable optimization securities due May 15, 2024 linked to the common stock of Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a call return of 10.00% per year if Visa shares close at or above the initial share price on any observation date, which occurs every two months.

If the notes are not called and Visa shares finish at or above the trigger price, 61.3% of the initial share price, the payout at maturity will be par plus the absolute value of the stock return. Otherwise, investors will be exposed to the share price decline from the initial price.

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

Issuer:	UBS AG, London Branch
Issue:	Contingent absolute return autocallable optimization securities
Underlying stock:	Visa Inc. (NYSE: V)
Amount:	$2,000,000
Maturity:	May 15, 2024
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	If final share price is greater than or equal to trigger price, par plus absolute value of stock return; otherwise, full exposure to share price decline
Call:	Automatically at par plus 10.00% per year if Visa shares close at or above initial share price on any observation date, which occurs every two months
Initial share price:	$193.58
Trigger price:	$118.66, 61.3% of initial price
Pricing date:	May 10
Settlement date:	May 12
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	1.5%
Cusip:	90303L769 ISIN

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