New Issue: UBS sells $10.94 million capped trigger gears on basket of 27 stocks

By Marisa Wong

Los Angeles, Feb. 22 – UBS AG, London Branch priced $10.94 million of 0% capped trigger gears due Jan. 19, 2023 linked to a basket of 27 equally weighted stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes the stocks of Assurant, Inc., Colfax Corp., Clean Harbors, Inc., Curtiss-Wright Corp., Devon Energy Corp., Encompass Health Corp., EOG Resources, Inc., Diamondback Energy, Inc., TechnipFMC plc, General Motors Co., HCA Healthcare, Inc., HP Inc., McKesson Corp., Oneok, Inc., Polaris Inc., PVH Corp., Pioneer Natural Resources Co., Regions Financial Corp., Reinsurance Group of America, Inc., Raytheon Technologies Corp., Signature Bank, Skechers U.S.A., Inc., Steel Dynamics, Inc., TCF Financial Corp., Tenet Healthcare Corp., Universal Health Services, Inc. and Cimarex Energy Co.

If the basket return is positive, the payout at maturity will be par plus 2 times the basket return, up to a maximum payout of par plus 26.3%.

If the basket declines but not by more than 25%, the payout will be par.

If the basket finishes below the 75% downside threshold, investors will lose 1% for every 1% that the basket declines from its initial level.

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

Issuer:	UBS AG, London Branch
Issue:	Capped trigger gears
Underlying stocks:	Assurant, Inc. (Symbol: AIZ), Colfax Corp. (Symbol: CFX), Clean Harbors, Inc. (Symbol: CLH), Curtiss-Wright Corp. (Symbol: CW), Devon Energy Corp. (Symbol: DVN), Encompass Health Corp. (Symbol: EHC), EOG Resources, Inc. (Symbol: EOG), Diamondback Energy, Inc. (Symbol: FANG), TechnipFMC plc (Symbol: FTI), General Motors Co. (Symbol: GM), HCA Healthcare, Inc. (Symbol: HCA), HP Inc. (Symbol: HPQ), McKesson Corp. (Symbol: MCK), ONEOK, Inc. (Symbol: OKE), Polaris Inc. (Symbol: PII), PVH Corp. (Symbol: PVH), Pioneer Natural Resources Co. (Symbol: PXD), Regions Financial Corp. (Symbol: RF), Reinsurance Group of America, Inc. (Symbol: RGA), Raytheon Technologies Corp. (Symbol: RTX), Signature Bank (Symbol: SBNY), Skechers U.S.A., Inc. (Symbol: SKX), Steel Dynamics, Inc. (Symbol: STLD), TCF Financial Corp. (Symbol: TCF), Tenet Healthcare Corp. (Symbol: THC), Universal Health Services, Inc. (Symbol: UHS) and Cimarex Energy Co. (Symbol: XEC); equally weighted
Amount:	$10,944,370
Maturity:	Jan. 19, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the basket return is positive, par plus 2 times the basket gain, capped at par plus 26.3%; if the basket declines by up to 25%, par; if the basket finishes below the downside threshold, 1% loss for every 1% that the basket declines from its initial level
Downside threshold:	75% of initial basket level
Initial share prices:	$140.35 for AIZ, $39.43 for Colfax, $81.29 for Clean Harbors, $117.65 for Curtiss-Wright, $19.13 for Devon, $83.29 for Encompass, $60.47 for EOG, $61.54 for Diamondback, $11.83 for TechnipFMC, $48.73 for GM, $170.47 for HCA, $25.71 for HP, $183.40 for McKesson, $43.71 for Oneok, $107.66 for Polaris, $104.84 for PVH, $130.93 for Pioneer, $18.16 for Regions, $113.63 for Reinsurance, $70.50 for Raytheon, $153.72 for Signature Bank, $36.95 for Skechers, $40.73 for Steel Dynamics,	$44.18 for TCF, $44.89 for Tenet, $135.68 for Universal Health, $47.49 for Cimarex
Pricing date:	Jan. 13
Settlement date:	Jan. 19
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	2%
Cusip:	90278R734

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