New Issue: UBS sells $819,000 trigger gears on two ETFs

By Kiku Steinfeld

Chicago, Dec. 9 – UBS AG, London Branch priced $819,000 of 0% trigger gears due April 4, 2024 linked to the least performing of the SPDR Dow Jones industrial average ETF Trust and SPDR S&P 500 ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If each fund return is positive, the payout at maturity will be par plus 1.1 times the least performing fund return.

If any fund falls by up to 30%, the payout will be par.

Investors will lose 1% for every 1% decline of the least performing fund from its initial level if it finishes below the 70% downside threshold, payable in shares or cash at the option of the issuer.

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

Issuer:	UBS AG, London Branch
Issue:	Trigger gears
Underlying funds:	SPDR Dow Jones industrial average ETF Trust and SPDR S&P 500 ETF
Amount:	$819,000
Maturity:	April 4, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If each fund return is positive, par plus 1.1 times the least performing fund return; if any fund falls by up to downside threshold, par; otherwise, 1% loss for every 1% decline of the least performing fund from its initial level, payable in shares or cash at the option of the issuer
Initial fund levels:	$348.01 for Dow, $452.92 for S&P
Downside thresholds:	$243.61 for Dow, $317.04 for S&P, 70% of initial levels
Equity ratios:	2.8735 for Dow, 2.2079 for S&P
Pricing date:	April 1, 2022
Settlement date:	April 6, 2022
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	0.4%
Cusip:	90279DY26

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