You may consider an investment in this product, if

You are an experienced investor familiar with equity securities and the equity markets in General.

You have an investment horizon that matches the specific equity in which you are investing. You also understand you may hold the investment for an indefinite period of time if the equity is halted or suspended indefinitely, or if illiquid market conditions prevent the sale of the instrument. You are prepared to accept capital loss by stop losing the position if the investment price moves in an unfavorable direction.

You are not over concentrated in the position (e.g. by asset class, market or issuer etc.).

You are prepared to assume the risks, including margin call, forced liquidation and interest rate / charges, that are related to margin investment if you acquire the position by financing. The loss can exceed the original investment amount and you will be liable for any resulting deficit and interest charged being accrued on your account.

You are aware that mark to market of the equities could place your capital at risk. You are prepared to accept the risks associated with equities as described herein, and including corporate actions such as 1) capital change – default resolution, divestiture, equity offerings, equity redemption, exchange offer, funged issue, rights offering, spin off, 2) corporate events – change in trading status, change in listing, class action, convert exercised, delisting, domicile change, round lot change, ticker symbol change, voting rights change, name change, change in trading currency, and 3) capital distributions – distributions, cash dividend, liquidation, stock dividend, stock split.

You are a Professional Investor in Hong Kong and / or an Accredited Investor in Singapore.

Summary of main product-specific benefits

Main benefit of equity investment is the potential for capital gain.

Some equity also has regular dividend payment, however dividend payment is not guaranteed.

Summary of main product-specific risks

The prices of securities fluctuate, sometimes dramatically. The price of a security may move up or down, and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of buying and selling securities.

Equity investment may expose to various types of risk including (i.e. but not limited to) market risk, interest rate risk, currency risk and liquidity risk. Investor should consider carefully to determine if entering into the position is suitable for you in light of, among other things, your financial situation, need for liquidity, tax situation, and your other investments.

Additional Disclosures

Some of the ideas being mentioned in the presentation are listed in the oversea markets and their denominated currency may be different to your portfolio's denominated currency. Changes in the currency exchange rates may affect the value of your position (i.e. in accordance to your portfolio's denominated currency) and result in unpredictable losses or profits.

Tax Treatment

UBS does not provide tax or legal advice. You must verify the above and all other information provided in this presentation or otherwise, with your external tax and legal advisors. Please read in conjunction with the risk information at the end of the presentation.

Further Information

This product description is for information purposes only.

The Marketing Material gives general information about products only and that the client should refer to his Client Advisor as regards to suitability of a specific product.

The contents of this document have not been reviewed by any regulatory authority in Hong Kong or Singapore. Investors are advised to exercise caution in relation to any offer. If an Investor is in any doubt about any of the contents of this document, the Investor should obtain independent professional advice.

This document is communicated by UBS AG and/or its affiliates ("UBS") for the exclusive use of the party to whom UBS delivers this document. UBS may from time to time, as principal or agent, have positions in, or may buy or sell, or make a market in any securities, currencies, financial instruments or other assets underlying the transaction to which any term sheet, Information Memorandum, Prospectus, confirmation or other documentation for the issue of the product or for which the transaction relates (collectively, the "Documentation"). UBS may provide investment banking and other services to, or have officers who serve as directors of the companies referred to in the Documentation. UBS may pay or receive fees in connection with transactions of securities to or from third parties. Further information on any discount to the issue price provided by UBS Investment Bank division to UBS Wealth Management division is available in the pricing schedule or other similar document which may be provided by UBS Wealth Management division from time to time. UBS has policies and procedures designed to minimize the risk that officers and employees are influenced by any conflicting interest or duty and that confidential information is improperly disclosed or made available. The investor acknowledges that UBS may retain all or part of such fees.

UBS generally hedges its exposure under structured transactions, although it may elect not to hedge or to partially hedge any transaction. UBS’ hedging activity may be conducted through transactions in the underlying asset, index or instrument or in options, futures or other derivatives related to the underlying asset, index or instrument on publicly traded markets or otherwise, and may have an impact on the price of the underlying asset. If a transaction is cash settled, UBS will generally unwind or offset any hedge it has for such transaction in close proximity to the relevant valuation time or period. In some cases, this activity may affect the value of the transaction.

Prospective investors should be aware that receipt of any payment (whether coupon payment, redemption amount or otherwise) or any securities by an investor in connection with the transaction is subject to the credit risk of the issuer of the securities (the "Issuer") or counterparty to the transaction (the "Counterparty"). Investors assume the risk that the Issuer or Counterparty will not be able to satisfy its obligations under the transaction. Except where specifically provided otherwise, the Issuer's or the Counterparty's obligations under the transaction will constitute general and unsecured contractual obligations of the Issuer or Counterparty, respectively, and such obligations will rank equally with all other unsecured contractual obligations of the Issuer or Counterparty, respectively, and any subsequent unsecured obligations of the Issuer or Counterparty, respectively. In the case of an insolvency of the Issuer or Counterparty, preferred liabilities of the Issuer or Counterparty, respectively, will have priority over unsecured obligations such as the transaction.

Any credit rating of the Issuer or the Counterparty stated in the Documentation reflects the independent opinion of the referenced rating agency as to the creditworthiness of the rated entity but is not a guarantee of credit quality of the Issuer or the Counterparty. Any downgrading of the credit ratings of the Issuer or Counterparty or their respective affiliates, by any rating agency could result in a reduction in the value of the product.

Investment instruments and financial services involve risks; it may be that certain investments cannot be liquidated immediately because of a lack of liquidity in the securities market, which makes it difficult to value the investment and assess the risk to you associated with it. Investments may be subject to sudden and considerable falls in value. You may, on realizing them, receive back less than you invested or may be required to pay more. If the currency in which an investment instrument or financial service is based is not the same as the currency of your country of domicile, its price, value and the return on it may be increased or decreased as a result of currency fluctuations. Changes in exchange rates may have an adverse effect on the price or value of an investment or on the return from it. UBS accepts no liability for the issuer risk associated with investment instruments issued by third parties. You can find further information about such risk in the brochure "Special Risks in Securities Trading Asian Version" and the "Risk Disclosure Statement" in the UBS Account Terms and Conditions.

This document is for information purposes only and has no regard to the specific investment objectives, financial situations or particular needs of any specific recipient. Any charts and scenarios set out in this document are for illustrative purposes only. The information herein is not intended to be a complete statement or summary of the developments referred to in this document. No representation or warranty is provided in relation to any information herein which is derived from independent sources. Prior to entering into a transaction you should consult with your own independent legal, regulatory, tax, financial and accounting advisors to the extent you consider it necessary, and make your own investment, hedging and trading decisions (including decisions regarding the suitability of this transaction) based upon your own judgment and advice from those advisers you consider necessary. Save as otherwise expressly agreed, UBS is not acting as your financial adviser or fiduciary in any transaction.

The analysis contained herein is based on numerous assumptions. Different assumptions could result in materially different results. The information and any opinions expressed in this document are subject to change without notice and may differ or be contrary to opinions expressed by other business areas or groups of UBS as a result of using different assumptions and criteria. As a consequence of constantly and rapidly changing market conditions, the asset allocations (if any), data, values and analyses contained in this document can become out of date even after only a short period of time and UBS is under no obligation to update or keep current the information contained in this document or to monitor your portfolio (if any) and/or update you in the event the details contained in this document or your risk profile changes. UBS reserves the right to alter the range of investment instruments and financial services it offers and the prices thereof at any time without prior notice.

Under certain circumstances, certain charts and/or performance figures may not be based on complete, 12-month reporting periods and this can affect the relevance of such data and its suitability for use in comparisons. As a rule, some of the figures involved are merely forecasts and not a reliable indicator of future performance. Previous performance cannot therefore necessarily be taken as a predictor of future performance.

This document does not constitute and should not be construed as an offer, recommendation or solicitation to conclude a transaction nor should it be treated as giving investment advice. The terms of the transaction will be exclusively subject to the detailed provisions, including any risk considerations, contained in the Documentation. Any investment or any other decisions should not be made based solely on this material. Neither UBS AG nor any of its affiliates, directors, employees or agents accepts any liability for any loss or damage arising out of the use of all or any part of this material. Certain investment instruments and financial services are subject to legal restrictions and may not therefore be offered freely throughout the world.

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