Obligation UBSL 8.5% ( US90270KZ931 ) en USD

UBSL

100 % ▼

Suisse

US90270KZ931 ( en USD )

8.5% par an ( paiement semestriel )

11/08/2022 - Obligation échue

Prospectus brochure de l'obligation UBS (London Branch) US90270KZ931 en USD 8.5%, échue

1 000 USD

7 369 000 USD

90270KZ93

N/A

UBS (London Branch) est une succursale de la banque suisse UBS, offrant une large gamme de services financiers aux particuliers, aux entreprises et aux institutions financières au Royaume-Uni et au-delà.

Le titre obligataire de type US90270KZ931 (Code CUSIP : 90270KZ93), émis par UBS (London Branch) ? une entité opérationnelle clé et stratégique du groupe bancaire suisse mondialement reconnu UBS Group AG, spécialisé dans la gestion de fortune, la banque d'investissement et la gestion d'actifs ?, a atteint sa maturité le 11 août 2022 et a été intégralement remboursé à 100% de sa valeur nominale en USD, clôturant son cycle de vie financier après avoir offert un taux d'intérêt de 8.5% sur une émission totale de 7 369 000 USD, avec une fréquence de paiement bisannuelle et un lot minimal d'acquisition de 1 000 USD, l'émission ayant été originellement structurée depuis la Suisse.

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424B2 1 ub54690270-424b2.htm FORM 424B2
PRICING SUPPLEMENT

Dated February 7, 2020
Filed Pursuant to Rule 424(b)(2)
Registration Statement No. 333-225551
(To Prospectus dated October 31, 2018
and Product Supplement dated October 31, 2018)
UBS AG $7,369,000 Trigger Callable Contingent Yield Notes
Linked to the least performing of the shares of the SPDR® Dow Jones Industrial AverageSM ETF Trust, the shares of the iShares®
Russell 2000 ETF and the shares of the Invesco QQQ TrustSM Series 1 due August 11, 2022
Investment Description
UBS AG Trigger Cal able Contingent Yield Notes (the "Notes") are unsubordinated, unsecured debt securities issued by UBS AG ("UBS" or the "issuer")
linked to the least performing of the shares of the SPDR® Dow Jones Industrial AverageSM ETF Trust, the shares of the iShares® Russel 2000 ETF and
the shares of the Invesco QQQ TrustSM Series 1 (each, an "underlying asset" and together, the "underlying assets"). We also refer to an exchange- traded
fund as an "ETF" herein. If the closing level of each underlying asset is equal to or greater than its coupon barrier, on the applicable coupon observation date, UBS
wil pay you a contingent coupon on the related coupon payment date. If the closing level of any underlying asset is less than its coupon barrier, no contingent
coupon wil be paid for that coupon payment date. UBS may elect to cal the Notes in whole, but not in part (an "issuer cal "), regardless of the closing levels of the
underlying assets, on any coupon observation date (quarterly) other than the final valuation date. If UBS elects to cal the Notes prior to maturity, UBS wil pay
you on the coupon payment date corresponding to such coupon observation date (the "cal settlement date") a cash payment per Note equal to the
principal amount plus any contingent coupon otherwise due, and no further payments wil be made on the Notes. If UBS does not elect to cal the Notes
and a trigger event does not occur, UBS wil pay you a cash payment at maturity equal to the principal amount of your Notes, in addition to any contingent
coupon otherwise due. If UBS does not elect to cal the Notes and a trigger event occurs, UBS wil deliver to you a number of shares of the underlying
asset with the lowest underlying return (the "least performing underlying asset") per Note equal to its share delivery amount, which wil be equal to the
quotient of (i) the principal amount divided by (i ) its initial level, the value of which is expected to be worth significantly less than your principal amount,
resulting in a loss of a significant portion or al of your initial investment. Any fractional share included in the share delivery amount wil be paid in cash at
an amount equal to the product of the fractional share and the final level of the least performing underlying asset, and, for the avoidance of doubt, if the
share delivery amount of the least performing underlying asset is less than 1.0000, at maturity you wil receive an amount in cash per Note, if anything,
based on the cash value of such share delivery amount. A "trigger event" is deemed to have occurred if the closing level of any underlying asset is less
than its downside threshold on the "trigger observation date", which is the final valuation date. Investing in the Notes involves significant risks. You
will lose a significant portion or all of your initial investment if UBS does not elect to call the Notes and a trigger event occurs. You may not
receive a significant portion or all of the contingent coupons during the term of the Notes. You will be exposed to the market risk of each
underlying asset on each coupon observation date and on the final valuation date and any decline in the level of one underlying asset may
negatively affect your return and will not be offset or mitigated by a lesser decline or any potential increase in the levels of any other
underlying asset. UBS may elect to call the Notes prior to maturity at its discretion on any coupon observation date (quarterly, other than the
final valuation date) regardless of the performance of the underlying assets. Higher contingent coupon rates are generally associated with a
greater risk of loss. The contingent repayment of principal applies only if you hold the Notes until the maturity date. Any payment or delivery
on the Notes, including any repayment of principal, is subject to the creditworthiness of UBS. If UBS were to default on its obligations you may
not receive any amounts or shares owed to you under the Notes and you could lose all of your initial investment.
Features
Key Dates
· Potential for Periodic Contingent Coupons -- UBS wil pay a
Trade Date*
February 7, 2020
contingent coupon on a coupon payment date if the closing level of
Settlement Date*
February 12, 2020
each underlying asset is equal to or greater than its coupon barrier on
Coupon Observation
Quarterly (see page 4)
the applicable coupon observation date (including the final valuation
Dates**
date). Otherwise, if the closing level of any underlying asset is less
Final Valuation Date**
August 8, 2022
than its coupon barrier on the applicable coupon observation date, no
Maturity Date**
August 11, 2022
contingent coupon wil be paid for the relevant coupon payment date.

* We expect to deliver the Notes against payment on the third business
· Issuer Callable -- UBS may elect to cal the Notes (an "issuer cal "),
day fol owing the trade date. Under Rule 15c6-1 of the Securities
on any coupon observation date (quarterly) other than the final
Exchange Act of 1934, as amended (the "Exchange Act"), trades in the
valuation date, regardless of the closing levels of the underlying
secondary market general y are required to settle in two business days
assets on such coupon observation date. If the Notes are cal ed, on
(T+2), unless the parties to a trade expressly agree otherwise.
the cal settlement date UBS wil pay you a cash payment per Note
Accordingly, purchasers who wish to trade the Notes in the secondary
equal to your principal amount plus any contingent coupon otherwise
market on any date prior to two business days before delivery of the
due, and no further payments wil be made on the Notes. Before UBS
Notes wil be required, by virtue of the fact that each Note initial y wil
elects to cal the Notes on an observation date, UBS wil deliver
settle in three business days (T+3), to specify alternative settlement
written notice to the trustee.
arrangements to prevent a failed settlement of the secondary market
· Contingent Repayment of Principal Amount at Maturity with
trade.
Potential for Full Downside Market Exposure -- If, by maturity, the

Notes have not been cal ed and a trigger event has not occurred, UBS
** Subject to postponement in the event of a market disruption event, as
wil repay you the principal amount per Note at maturity. If, however, a
described in the accompanying product supplement.
trigger event has occurred, UBS wil deliver to you a number of shares
of the least performing underlying asset equal to its share delivery
amount, the value of which is expected to be worth significantly less
than the principal amount, resulting in a loss of a significant portion or
al of your initial investment. Specifical y, the percentage loss on your
initial investment as of the final valuation date wil be equal to the
percentage decline in the least performing underlying asset from its
initial level to its final level. The contingent repayment of principal
applies only if you hold the Notes to maturity. Any payment or delivery
on the Notes, including any repayment of principal, is subject to the
creditworthiness of UBS.
Notice to investors: the Notes are significantly riskier than conventional debt instruments. The issuer is not necessarily obligated to repay all
of your initial investment in the Notes at maturity, and the Notes may have the same downside market risk as the least performing underlying
asset. This market risk is in addition to the credit risk inherent in purchasing a debt obligation of UBS. You should not purchase the Notes if
you do not understand or are not comfortable with the significant risks involved in investing in the Notes.
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You should carefully consider the risks described under "Key Risks" beginning on page 5 and under "Risk Factors" beginning on page PS-9
of the accompanying product supplement before purchasing any Notes. Events relating to any of those risks, or other risks and uncertainties,
could adversely affect the market value of, and the return on, your Notes. You may lose a significant portion or all of your initial investment in
the Notes. The Notes will not be listed or displayed on any securities exchange or any electronic communications network.
Note Offering
These terms relate to the Notes we are offering.
Share
Bloomberg
Contingent
Downside
Delivery
Underlying Asset
Ticker
Coupon Rate Initial Levels
Thresholds
Coupon Barriers Amount(1)
CUSIP
ISIN
Shares of the SPDR®
DIA
$291.19
$218.39, which is $218.39, which is
3.4342
Dow Jones Industrial
75.00% of the
75.00% of the
AverageSM ETF Trust
Initial Level
Initial Level
Shares of the iShares®
IWM
8.50% per
$164.88
$123.66, which is $123.66, which is
6.0650
75.00% of the
75.00% of the
90270KZ93 US90270KZ931
Russel 2000 ETF
annum
Initial Level
Initial Level
Shares of the Invesco
QQQ
$229.20
$171.90, which is $171.90, which is
4.3630
QQQ TrustSM Series 1
75.00% of the
75.00% of the
Initial Level
Initial Level
(1) With respect to each underlying asset, equal to $1,000 divided by its initial level. If you receive the share delivery amount of the least performing
underlying asset at maturity, any fractional share included in such share delivery amount wil be paid in cash at an amount equal to the product of the
fractional share and the final level of the least performing underlying asset and, for the avoidance of doubt, if such share delivery amount is less than
1.0000, at maturity you wil receive an amount in cash per Note, if anything, based on the cash value of such share delivery amount. With respect to each
underlying asset, the share delivery amount is subject to adjustments in the case of certain corporate events described in the accompanying product
supplement under "General Terms of the Securities -- Antidilution Adjustments for Securities Linked to an Underlying Equity or Equity Basket Asset" and
"-- Reorganization Events for Securities Linked to an Underlying Equity or Equity Basket Asset."
The estimated initial value of the Notes as of the trade date is $967.60. The estimated initial value of the Notes was determined as of the close of the
relevant markets on the date hereof by reference to UBS' internal pricing models, inclusive of the internal funding rate. For more information about
secondary market offers and the estimated initial value of the Notes, see "Key Risks -- Fair value considerations" and "-- Limited or no secondary market
and secondary market price considerations" on page 6 of this document.
See "Additional Information about UBS and the Notes" on page ii. The Notes will have the terms set forth in the accompanying product
supplement relating to the Notes, dated October 31, 2018, the accompanying prospectus and this document. Neither the Securities and
Exchange Commission nor any other regulatory body has approved or disapproved of these Notes or passed upon the adequacy or accuracy
of this document, the accompanying product supplement or the accompanying prospectus. Any representation to the contrary is a criminal
offense.
The Notes are not bank deposits and are not insured by the Federal Deposit Insurance Corporation or any other governmental agency.
Offering of Notes
Issue Price to Public
Underwriting Discount(1)(2)
Proceeds to UBS AG(1)(2)

Total
Per Note
Total
Per Note
Total
Per Note
Notes linked to the least performing of the shares of the
SPDR® Dow Jones Industrial AverageSM ETF Trust, the
$7,369,000.00
$1,000.00
$110,535.00
$15.00
7,258,465.00
$985.00
shares of the iShares® Russel 2000 ETF and the shares of
the Invesco QQQ TrustSM Series 1
(1) Certain registered investment advisers or fee-based advisory accounts unaffiliated from UBS may have agreed to purchase Notes from a third-
party dealer at a purchase price of at least $985.00 per principal amount of the Notes, and any such third-party dealer, with respect to such sales,
may have agreed to forgo some or al of the underwriting discount.
(2) Our affiliate, UBS Securities LLC, wil receive an underwriting discount of $15.00 per principal amount for each Note sold in this offering. UBS
Securities LLC has agreed to re-al ow the ful amount of this discount to one or more third-party dealers. Certain of such third-party dealers may
have agreed to resel the Notes to other securities dealers at the issue price to the public less an underwriting discount up to the underwriting
discount indicated in the above table.
UBS Securities LLC
UBS Investment Bank

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Additional Information about UBS and the Notes

UBS has filed a registration statement (including a prospectus, as supplemented by a product supplement for the Notes) with the
Securities and Exchange Commission (the "SEC"), for the offering to which this document relates. Before you invest, you should read
these documents and any other documents related to the Notes that UBS has filed with the SEC for more complete information about
UBS and this offering. You may obtain these documents for free from the SEC website at www.sec.gov. Our Central Index Key, or CIK,
on the SEC website is 0001114446.
You may access these documents on the SEC website at www.sec.gov as follows:
· Market-Linked Securities product supplement dated October 31, 2018:
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· Prospectus dated October 31, 2018:
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References to "UBS", "we", "our" and "us" refer only to UBS AG and not to its consolidated subsidiaries. In this document, "Trigger
Callable Contingent Yield Notes" or the "Notes" refer to the Notes that are offered hereby. Also, references to the "accompanying product
supplement" or "Market-Linked Securities product supplement" mean the UBS product supplement, dated October 31, 2018 and
references to the "accompanying prospectus" mean the UBS prospectus, titled "Debt Securities and Warrants", dated October 31, 2018.
This document, together with the documents listed above, contains the terms of the Notes and supersedes all other prior or
contemporaneous oral statements as well as any other written materials including all other prior pricing terms, correspondence, trade
ideas, structures for implementation, sample structures, brochures or other educational materials of ours. You should carefully consider,
among other things, the matters set forth in "Key Risks" herein and in "Risk Factors" in the accompanying product supplement, as the
Notes involve risks not associated with conventional debt securities. We urge you to consult your investment, legal, tax, accounting and
other advisors with respect to an investment in the Notes.
If there is any inconsistency between the terms of the Notes described in the accompanying prospectus, the accompanying product
supplement and this document, the following hierarchy will govern: first, this document; second, the accompanying product supplement;
and last, the accompanying prospectus.
UBS reserves the right to change the terms of, or reject any offer to purchase, the Notes prior to their issuance. In the event of any
changes to the terms of the Notes, UBS will notify you and you will be asked to accept such changes in connection with your purchase.
You may also choose to reject such changes in which case UBS may reject your offer to purchase.
i
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Investor Suitability
The Notes may be suitable for you if:
The Notes may not be suitable for you if:
· You fully understand the risks inherent in an investment in the
· You do not fully understand the risks inherent in an investment
Notes, including the risk of loss of a significant portion or all of
in the Notes, including the risk of loss of a significant portion or
your initial investment.
all of your initial investment.
· You understand and accept that an investment in the Notes is
· You do not understand or are unwilling to accept that an
linked to the performance of the least performing underlying
investment in the Notes is linked to the performance of the
asset and not a basket of the underlying assets and that you
least performing underlying asset and not a basket of the
will be exposed to the individual market risk of each underlying
underlying assets, that you will be exposed to the individual
asset on the specified coupon observation dates and that you
market risk of each underlying asset on the specified coupon
may lose a significant portion or all of your initial investment if
observation dates and that you may lose a significant portion
the closing level of any underlying asset is less than its
or all of your initial investment if the closing level of any
downside threshold on the trigger observation date.
underlying asset is less than its downside threshold on the
trigger observation date.
· You are willing to make an investment that may have the same
downside market risk as that of an investment in the least
· You require an investment designed to provide a full return of
performing underlying asset.
principal at maturity.
· You can tolerate receiving the share delivery amount of the
· You are not willing to make an investment that may have the
least performing underlying asset at maturity, the value of
same downside market risk as that of an investment in the
which is expected to be worth less than your principal amount,
least performing underlying asset.
resulting in a loss of a significant portion or all of your initial
investment.
· You cannot tolerate receiving the share delivery amount of the
least performing underlying asset at maturity, the value of
· You are willing to receive no contingent coupons and believe
which is expected to be worth less than your principal amount
the closing level of each underlying asset will be equal to or
or, in extreme situations, may be worthless.
greater than its coupon barrier on each coupon observation
date and equal to or greater than its downside threshold on the
· You are unwilling to receive no contingent coupons and believe
trigger observation date.
the closing level of at least one underlying asset will decline
during the term of the Notes and is likely to be less than its
· You can accept that the risks of each underlying asset are not
coupon barrier on each coupon observation date or that the
mitigated by the performance of any other underlying asset
closing level of any underlying asset will be less than its
and the risks of investing in securities with a return based on
downside threshold on the trigger observation date.
the performance of multiple underlying assets.
· You cannot accept that the risks of each underlying asset are
· You understand and accept that you will not participate in any
not mitigated by the performance of any other underlying asset
appreciation of any underlying asset and that your potential
or the risks of investing in securities with a return based on the
return is limited to any contingent coupons.
performance of multiple underlying assets.
· You can tolerate fluctuations in the price of the Notes prior to
· You seek an investment that participates in the full
maturity that may be similar to or exceed the downside
appreciation of the levels of the underlying assets or that has
fluctuations in the levels of the underlying assets.
unlimited return potential.
· You are willing to invest in the Notes based on the contingent
· You cannot tolerate fluctuations in the price of the Notes prior
coupon rate, downside thresholds and coupon barriers
to maturity that may be similar to or exceed the downside
specified on the cover hereof.
fluctuations in the levels of the underlying assets.
· You do not seek guaranteed current income from your
· You are unwilling to invest in the Notes based on the
investment and are willing to forgo any dividends paid on the
contingent coupon rate, downside thresholds or coupon
underlying assets and the stocks and other assets comprising
barriers specified on the cover hereof.
each underlying asset (the "underlying constituents").
· You seek guaranteed current income from this investment or
· You are willing to invest in Notes that UBS may elect to call
prefer to receive any dividends paid on the underlying assets
early and you are otherwise willing to hold such Notes to
or the underlying constituents.
maturity and you accept that there may be little or no
secondary market for the Notes.
· You are unable or are unwilling to invest in Notes that UBS
may elect to call early, or you are otherwise unable or unwilling
· You understand and are willing to accept the risks associated
to hold the Notes to maturity or you seek an investment for
with the underlying assets.
which there will be an active secondary market for the Notes.
· You are willing to assume the credit risk of UBS for all
· You do not understand or are unwilling to accept the risks
payments and deliveries under the Notes, and understand that
associated with the underlying assets.
if UBS defaults on its obligations you may not receive any
amounts due to you including any repayment of principal.
· You are unwilling to assume the credit risk of UBS for all
payments and deliveries under the Notes, including any
· You understand that the estimated initial value of the Notes
repayment of principal.
determined by our internal pricing models is lower than the
issue price and that should UBS Securities LLC or any affiliate
make secondary markets for the Notes, the price (not including
their customary bid-ask spreads) will temporarily exceed the
internal pricing model price.
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The suitability considerations identified above are not exhaustive. Whether or not the Notes are a suitable investment for you
will depend on your individual circumstances and you should reach an investment decision only after you and your
investment, legal, tax, accounting and other advisors have carefully considered the suitability of an investment in the Notes in
light of your particular circumstances. You should review "Information About the Underlying Assets " herein for more
information on the underlying assets. You should also review carefully the "Key Risks" section herein for risks related to an
investment in the Notes.
1
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Final Terms
Issuer:
UBS AG London Branch
Payment at
If UBS does not elect to call the Notes and a
Principal
$1,000.00 per Note
Maturity (per trigger event does not occur, UBS will pay you
Amount:
Note):
a cash payment equal to:
Term:
Approximately 30 months, unless called earlier.
Principal Amount of $1,000
If UBS does not call the Notes and a trigger
Underlying The shares of the SPDR® Dow Jones Industrial
event occurs, UBS will deliver to you a number
Assets:
AverageSM ETF Trust, the shares of the iShares®
of shares of the least performing underlying
Russell 2000 ETF and the shares of the Invesco
asset (with cash paid in lieu of any fractional
QQQ TrustSM Series 1
share), equal to:
Contingent If the closing level of each underlying asset is
Share Delivery Amount of the Least Performing
Coupon & equal to or greater than its coupon barrier on
Underlying Asset
Contingent any coupon observation date (including the
In such a case, you will receive the share
Coupon
final valuation date), UBS will pay you the
delivery amount of the least performing
Rate:
contingent coupon applicable to such coupon
underlying asset, the value of which is
observation date.
expected to be worth significantly less than
If the closing level of any underlying asset is
the principal amount, resulting in a loss of a
less than its coupon barrier on any coupon
significant portion or all of your initial
observation date (including the final valuation
investment. Specifically, the percentage loss
date), the contingent coupon applicable to such
on your initial investment as of the final
coupon observation date will not accrue or be
valuation date will be equal to the percentage
payable and UBS will not make any payment to
decline in the least performing underlying
you on the relevant coupon payment date.
asset from its initial level to its final level.
The contingent coupon is a fixed amount based
Share
With respect to each underlying asset, a number
upon equal quarterly installments at a per annum
Delivery
of shares of such underlying asset equal to
rate (the "contingent coupon rate"). The table
Amount (per quotient, observed to four decimal places, of (i)
below sets forth the contingent coupon amount that
the principal amount divided by (ii) its initial level,
Note):(2)
would be applicable to each coupon observation
as specified on the cover hereof.
date on which the closing level of each underlying
Any fractional share included in the share
asset is equal to or greater than its coupon barrier.
delivery amount of the least performing

underlying asset will be paid in cash at an

Contingent Coupon Rate
8.50%
amount equal to the product of the fractional

Contingent Coupon
$21.25
share and the final level of the least performing

Contingent coupons on the Notes are not
underlying asset. For the avoidance of doubt, if
guaranteed. UBS will not pay you the contingent
the share delivery amount of the least performing
coupon for any coupon observation date on
underlying asset is less than 1.0000, at maturity
which the closing level of any underlying asset
you will receive an amount in cash per Note, if
is less than its coupon barrier.
anything, based on the cash value of such share

delivery amount.
Trigger
A trigger event is deemed to have occurred if the
Event:
closing level of any underlying asset is less than
Underlying
For each underlying asset, the quotient,
its downside threshold on the trigger observation
Return:
expressed as a percentage, of the following
date.
formula:
In such a case, you will receive the share
Final Level Initial Level
delivery amount of the least performing
Initial Level
underlying asset, the value of which is
Least
The underlying asset with the lowest underlying
expected to be worth significantly less than
Performing
return as compared to any other underlying
the principal amount, resulting in a loss of a
Underlying
assets.
significant portion or all of your initial
Asset:
investment. Specifically, the percentage loss
Downside
on your initial investment as of the final
For each underlying asset, a specified level of
Threshold:(2)
valuation date will be equal to the percentage
the underlying asset that is less than its initial
decline in the least performing underlying
level, equal to a percentage of its initial level, as
asset from its initial level to its final level.
indicated on the cover hereof.
Coupon
Trigger
The final valuation date.
For each underlying asset, a specified level of
Barrier:(2)
Observation
the underlying asset that is less than its initial
level, equal to a percentage of the initial level, as
Date(s):(1)
indicated on the cover hereof.
Issuer Call
UBS may elect to call the Notes in whole, but not
Initial Level:
Feature:
in part, on any coupon observation date
The closing level of each underlying asset on the
(2)
(quarterly) other than the final valuation date,
trade date, as specified on the cover hereof.
regardless of the closing levels of the underlying
Final Level:
The closing level of each underlying asset on the
assets on such coupon observation date.
(2)
final valuation date.
(1)
Subject to the market disruption event provisions
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If UBS elects to call the Notes, UBS will pay you
set forth in the accompanying product
on the coupon payment date corresponding to
supplement.
such coupon observation date (the "call
(2)
As determined by the calculation agent and as
settlement date") a cash payment per Note equal
may be adjusted in the case of certain
to the principal amount plus any contingent
adjustment events as described under "General
coupon otherwise due (the "call settlement
Terms of the Securities -- Antidilution
amount"), and no further payments will be made
Adjustments for Securities Linked to an
on the Notes. Before UBS elects to call the Notes
Underlying Equity or Equity Basket Asset" and
on a coupon observation date, UBS will deliver
"-- Reorganization Events for Securities Linked
written notice to the trustee.
to an Underlying Equity or Equity Basket Asset"
in the accompanying product supplement.
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Investment Timeline
The initial level of each underlying asset
Trade Date
is observed and the final terms of the
Notes are set.
¯

If the closing level of each underlying
asset is equal to or greater than its
coupon barrier on any coupon
observation date (including the final
valuation date), UBS will pay you the
contingent coupon applicable to such
coupon observation date.
If the closing level of any underlying
asset is less than its coupon barrier on
any
coupon
observation
date
(including the final valuation date), the
contingent coupon applicable to such
coupon observation date will not accrue
or be payable and UBS will not make any
payment to you on the relevant coupon
payment date.
Quarterly
UBS may elect to call the Notes in whole,
but not in part, on any coupon
observation date (quarterly) other than
the final valuation date, regardless of the
closing levels of the underlying assets on
such coupon observation date.
If UBS elects to call the Notes, UBS will
pay you on the call settlement date a
cash payment per Note equal to the
principal amount plus any contingent
coupon otherwise due, and no further
payments will be made on the Notes.
Before UBS elects to call the Notes, UBS
will deliver written notice to the trustee by
the applicable coupon observation date. If
UBS does not elect to call the Notes,
investors will have the potential for
downside market risk at maturity.
¯

Maturity Date
If UBS does not elect to call the Notes
and a trigger event does not occur, UBS
will pay you a cash payment per Note equal
to:
Principal Amount of $1,000
If UBS does not call the Notes and a
trigger event occurs, UBS will deliver to
you a number of shares of the least
performing underlying asset per Note (with
cash paid in lieu of any fractional share),
equal to:
Share Delivery Amount of the Least
Performing Underlying Asset
In such a case, you will receive the share
delivery amount of the least performing
underlying asset, the value of which is
expected to be worth significantly less
than the principal amount, resulting in a
loss of a significant portion or all of your
initial
investment.
Specifically,
the
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percentage
loss
on
your
initial
investment as of the final valuation date
will be equal to the percentage decline in
the least performing underlying asset
from its initial level to its final level.
Investing in the Notes involves significant risks. You may lose a significant portion or all of your initial investment. Any
payment or delivery on the Notes, including any repayment of principal, is subject to the creditworthiness of UBS. If UBS were
to default on its payment obligations, you may not receive any amounts owed to you under the Notes and you could lose all of
your initial investment.
You will lose a significant portion or all of your initial investment if UBS does not elect to call the Notes and a trigger event
occurs. You may not receive a significant portion or all of the contingent coupons during the term of the Notes. You will be
exposed to the market risk of each underlying asset on each coupon observation date and on the final valuation date and any
decline in the level of one underlying asset may negatively affect your return and will not be offset or mitigated by a lesser
decline or any potential increase in the level of any other underlying asset. UBS may elect to call the Notes at its discretion
(quarterly, other than the final valuation date) regardless of the performance of the underlying assets. If UBS does not elect to
call the Notes and a trigger event occurs, you will lose a significant portion or all of your initial investment at maturity.
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Coupon Observation Dates(1) and Coupon Payment Dates(1)(2)
Coupon Observation Dates
Coupon Payment Dates
Coupon Observation Dates
Coupon Payment Dates
May 7, 2020
May 12, 2020
August 9, 2021
August 12, 2021
August 7, 2020
August 12, 2020
November 8, 2021
November 12, 2021
November 9, 2020
November 13, 2020
February 7, 2022
February 10, 2022
February 8, 2021
February 11, 2021
May 9, 2022
May 12, 2022
May 7, 2021
May 12, 2021
Final Valuation Date
Maturity Date
(1) Subject to the market disruption event provisions set forth in the accompanying product supplement.
(2) 3 business days following each coupon observation date, except that the coupon payment date for the final valuation date is the
maturity date.
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