$10,000,000 UBS AG Trigger Phoenix Autocallable Optimization Securities UBS AG Securities Linked to the shares of SPDR® S&P® Oil & Gas Exploration & Production ETF due March 12, 2020, priced on September 07, 2018, were issued by UBS AG London Branch. The pricing supplement for this note (CUSIP: 90284W677) can be found here.

The notes had a $10 face value and paid a quarterly coupon of $0.27575, so long as the notes had not been called and and SPDR S&P Oil & Gas Exploration & Production ETF all closed above 75% of their September 07, 2018 closing prices on a determination date. If and SPDR S&P Oil & Gas Exploration & Production ETF closed below 75% of their September 07, 2018 closing prices on a determination date, the notes did not pay a coupon.

If not previously called, at maturity, the notes returned $10 in principal if and SPDR S&P Oil & Gas Exploration & Production ETF all closed on the final determination date on March 09, 2020 and above 75% of their September 07, 2018 closing prices. If on March 09, 2020 and SPDR S&P Oil & Gas Exploration & Production ETF closed below 75% of their September 07, 2018 closing prices, the notes paid reduced principal euqal to $10 multiplied by the lowest ratio of and SPDR S&P Oil & Gas Exploration & Production ETF March 09, 2020 closing prices to their September 07, 2018 closing prices.

The notes have matured. They paid one coupon totaling $0.27575 and $2.04 repayment per $10 note. Investors thus suffered capital losses of $7.96 and net losses of $7.68.^† In the aggregate, investors in this note suffered $7,959,950 in capital losses and $7,684,200 in net losses. See Table 1 and Figure 1.

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† SLCG estimated these losses based on publicly available information. The issuer ultimately determines the amounts paid which may differ from our estimates. Our reference to capital loss and net loss does not imply SLCG's view of how these losses are treated for tax purposes.

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