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Structured transactions are complex and may involve a high risk of loss. 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.

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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. UBS is under no obligation to update or keep current the information contained in this document.

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IMPORTANT:

This document and any attachment(s) contained herein is merely a generic description of the product and is for information purposes only. It should be read in conjunction with the respective product documentation (including term sheet) for a fuller disclosure of relevant features and risk considerations. All terms and conditions are provided as examples and actual terms may vary. Individual products launched may come with variation to the basic structure. The final terms and conditions will be finalized on the pricing date. Charts and scenarios are for illustrative purposes only. Historical performance is no guarantee for and is not an indication 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 an investment advice. Please refer to the important disclaimers herein and in the attachment(s) (if any).

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Further information

This product description is for information purposes only. The final terms and conditions will be finalized on the pricing date. For detailed information about the terms and conditions please consult the termsheet provided by the Issuer in English only.

This product is a structured product i.e. a combination of two or more financial instruments of which at least one is a derivative. For more information on "structured products" please refer to the brochure "Special Risks in Securities Trading - Asian Version". Additional information on UBS Structured Products in general, the various product families as well as risks and opportunities can be found in designated UBS brochures.

Please note that the above is merely a generic description of the product and the individual products launched may come with variations to the basic structure. In addition, the individual client suitability has not been considered. Please contact your client advisor if your require further clarifications or tailored advice.

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