New Issue: UBS prices $102,000 trigger return optimization notes on SPDR S&P Bank

By Marisa Wong

Morgantown, W.Va., March 13 – UBS AG, London Branch priced $102,000 of trigger return optimization securities due March 18, 2019 linked to the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund return is positive, the payout at maturity will be par plus two times the gain, capped at 17.22%.

If the fund return is zero or negative but the fund finishes at or above the 75% trigger level, the payout will be par. Otherwise, investors will share in any losses.

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

Issuer:	UBS AG, London Branch
Issue:	Trigger return optimization securities
Underlying fund:	SPDR S&P Bank exchange-traded fund
Amount:	$102,000
Maturity:	March 18, 2019
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus two times any fund gain, capped at 17.22%; par if fund falls by up to 25%; otherwise, exposure to any losses
Initial share price:	$44.93
Trigger price:	$33.70, 75% of initial price
Pricing date:	March 10
Settlement date:	March 15
Underwriters:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2%
Cusip:	90277R727

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