UBS Announces Call Settlement Amount for the Series A ETRACS ETN Linked to the Wells Fargo® Business Development Company Index
November 24 2020 - 12:30PM
Business Wire
UBS AG announced today the Call Settlement Amount for the ETRACS
ETN Linked to the Wells Fargo Business Development Company Index
due April 26, 2041 (the “Securities”), as set forth in the table
below.
Table-1
ETN Ticker
ETN Name and Prospectus
Supplement*
Call Settlement Amount
CUSIP
Call Settlement Date
BDCS
ETRACS Linked to the Wells Fargo®
Business Development Company Index due April 26, 2041
$15.2282
902641588
11/27/2020
* The table above provides a hyperlink to the prospectus
supplement for the Securities. The Securities are part of UBS AG’s
Medium Term Notes, Series A, on which UBS AG and UBS Switzerland AG
are co-obligors. Capitalized terms used but not defined in this
press release shall have the meanings ascribed to such terms in the
prospectus supplement for the Securities.
On November 3, 2020, UBS AG announced the mandatory redemption
of eleven Series A ETRACS ETNs, including these Securities. UBS
will pay the applicable Call Settlement Amount to investors holding
the Securities on November 27, 2020.
UBS has filed a Registration Statement on Form F-3 (Registration
No. 333-225551) including a prospectus and supplements thereto with
the Securities and Exchange Commission (“SEC”) for the general
offering of certain exchange-traded securities offered by UBS.
Before you invest, you should read the prospectus, along with the
applicable prospectus supplements, or product supplement and
pricing supplements, as applicable, to understand fully the terms
of the securities and other considerations that are important in
making a decision about investing in the securities. For more
information regarding the Securities, the prospectus supplement for
the Securities can be accessed on EDGAR, the SEC’s website, at
www.sec.gov. The prospectus supplement for the Securities is also
available at the link included in Table-1 above.
CAUTIONARY LANGUAGE CONCERNING FORWARD-LOOKING STATEMENTS
Information set forth in this news release contains
forward-looking statements that are subject to risks and
uncertainties, and actual results may differ materially. A
discussion of factors that may affect future results is contained
in UBS AG’s filings with the Securities and Exchange Commission and
in the Registration Statement related to the Series A ETNs and
there is no assurance that UBS AG will actually complete the
redemption of the Securities. UBS disclaims any obligation to
update or revise statements contained in this news release based on
new information or otherwise.
About ETRACS
ETRACS ETNs are senior unsecured notes issued by UBS AG, are
traded on NYSE Arca, and can be bought and sold through a broker or
financial advisor. An investment in ETRACS ETNs is subject to a
number of risks, including the risk of loss of some or all of the
investor’s principal, and is subject to the creditworthiness of UBS
AG. Investors are not guaranteed any coupon or distribution amount
under the ETNs. Prior to making an investment in the ETRACS ETNs,
investors should take into account whether or not the market price
is tracking the intraday indicative value of the ETNs. We urge you
to read the more detailed explanation of risks described under
“Risk Factors” in the applicable prospectus supplement, or product
supplement and pricing supplement, for the ETRACS ETN.
About UBS
UBS provides financial advice and solutions to wealthy,
institutional and corporate clients worldwide, as well as private
clients in Switzerland. UBS's strategy is centered on our leading
global wealth management business and our premier universal bank in
Switzerland, enhanced by Asset Management and the Investment Bank.
The bank focuses on businesses that have a strong competitive
position in their targeted markets, are capital efficient, and have
an attractive long-term structural growth or profitability
outlook.
UBS is present in all major financial centers worldwide. It has
offices in more than 50 regions and locations, with about 31% of
its employees working in the Americas, 32% in Switzerland, 19% in
the rest of Europe, the Middle East and Africa and 18% in Asia
Pacific. UBS Group AG employs over 67,000 people around the world.
Its shares are listed on the SIX Swiss Exchange and the New York
Stock Exchange (NYSE).
This material is issued by UBS AG and/or any of its subsidiaries
and/or any of its affiliates ("UBS"). Products and services
mentioned in this material may not be available for residents of
certain jurisdictions. Past performance is not necessarily
indicative of future results. Please consult the restrictions
relating to the product or service in question for further
information. Activities with respect to US securities are conducted
through UBS Securities LLC, a US broker/dealer. Member of SIPC
(http://www.sipc.org/).
Wells Fargo Securities, Wells Fargo and Wells Fargo Business
Development Company Index are trademarks of Wells Fargo &
Company and have been licensed for use for certain purposes by UBS.
The ETRACS Exchange Traded Note traded under the ticker BDCS is
based on an index maintained by Wells Fargo Securities, LLC and are
not issued, sponsored, endorsed or advised by Wells Fargo
Securities, LLC, Wells Fargo & Company or their affiliates
(“Wells”) and Wells makes no representation regarding whether such
Product is suitable for investors generally or the advisability of
trading in such a Product. Wells does not guarantee that the Index
referenced by the Product has been accurately calculated or that
the Indices appropriately represent particular investment
strategies. Wells shall not have any liability for any error in the
calculation of the Index or for any infirmity in the Product. The
Index is calculated by third parties, including NYSE Arca, Inc.,
which are not affiliated with the issuer of the Product or with
Wells and they do not approve, endorse, review or recommend the
Indices, UBS or the Products.
UBS specifically prohibits the redistribution or reproduction of
this material in whole or in part without the prior written
permission of UBS and UBS accepts no liability whatsoever for the
actions of third parties in this respect.
© UBS 2020. The key symbol, UBS and ETRACS are among the
registered and unregistered trademarks of UBS. Other marks may be
trademarks of their respective owners. All rights reserved.
1 Individual investors should instruct their
broker/advisor/custodian to call us or should call together with
their broker/advisor/custodian.
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Media contact Christina Aquilina +1 212 713 4488
Christina.aquilina@ubs.com Institutional Investor contact1
+1-877-387 2275
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