New Issue: UBS prices $10.1 million trigger autocallable contingent yield notes on stock basket

By Wendy Van Sickle

Columbus, Ohio, May 10 – UBS AG, London Branch priced $10.1 million of trigger autocallable contingent yield notes due May 10, 2023 linked to an equally weighted basket of the common stocks of Boeing Co., Boston Scientific Corp., Capital One Financial Corp., Darden Restaurants, Inc., Eastman Chemical Co., Fortive Corp., JPMorgan Chase & Co., Southwest Airlines Co., Micron Technology, Inc. and Pioneer Natural Resources Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 7.4% if the basket closes at or above its 70% coupon barrier on the related quarterly observation date.

The notes will be called at par of $10 plus accrued interest if the basket closes at or above the initial basket level on any quarterly observation date after six months.

If the notes are not called, the payout at maturity will be par unless the final price of the basket is less than the 70% downside threshold, in which case investors will be fully exposed to the basket level decline.

UBS Securities LLC and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Trigger autocallable contingent yield notes
Underlying stocks:	Boeing Co., Boston Scientific Corp., Capital One Financial Corp., Darden Restaurants, Inc., Eastman Chemical Co., Fortive Corp., JPMorgan Chase & Co., Southwest Airlines Co., Micron Technology, Inc., Pioneer Natural Resources Co., each with a 10% weight
Amount:	$10,101,750
Maturity:	May 10, 2023
Coupon:	7.4% annualized, payable each quarter that basket closes at or above coupon barrier on observation date for that quarter
Price:	Par of $10
Payout at maturity:	Par unless final basket level is less than downside threshold, in which case full exposure to losses
Call:	Automatically at par plus accrued interest if basket closes at or above initial share price on any quarterly observation date after six months
Initial share price:	$228.18 for Boeing, $43.09 for Boston Scientific, $153.60 for Capital One, $142.23 for Darden Restaurants, $123.04 for Eastman, $71.69 for Fortive, $157.52 for JPMorgan, $60.83 for Southwest Airlines, $85.15 for Micron Technology, $164.34 for Pioneer
Coupon barrier:	70% of initial level
Downside threshold:	70% of initial level
Pricing date:	May 5
Settlement date:	May 10
Agents:	UBS Securities LLC and UBS Investment Bank
Fees:	1.5%
Cusip:	90278Y440

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