UBS AG announced on Tuesday the Call Settlement Amounts for the
below eight ETNs (the “Securities”), as set forth in the table
below.
Table-1
ETN Ticker
ETN Name and Prospectus
Supplements*
Call Settlement Amount
CUSIP
Call Settlement Date
DJCI
ETRACS Linked to the Bloomberg Commodity
Index Total Return due October 31, 2039
$13.7730
902641679
12/10/2020
FUD
ETRACS Linked to the UBS Bloomberg CMCI
Food Total Return due April 5, 2038
$17.0234
902641737
12/10/2020
UAG
ETRACS Linked to the UBS Bloomberg CMCI
Agriculture Total Return due April 5, 2038
$17.3919
902641760
12/10/2020
UBG
ETRACS Linked to the UBS Bloomberg CMCI
Gold Total Return due April 5, 2038
$46.0629
902641810
12/10/2020
UCI
ETRACS linked to the UBS Bloomberg
Constant Maturity Commodity Index (CMCI) Total Return due April 5,
2038
$14.5309
902641778
12/10/2020
USV
ETRACS Linked to the UBS Bloomberg CMCI
Silver Total Return due April 5, 2038
$30.4990
902641794
12/10/2020
BDCY
ETRACS 2xMonthly Leveraged Wells
Fargo® Diversified Business Development Company Index ETN Series B*
due October 21, 2049
$9.7299
90269A112
12/10/2020
LMLB
ETRACS Monthly Pay 2xLeveragedWells Fargo
MLP Ex-Energy ETN Series B* due October 21, 2049
$9.7379
90269A476
12/10/2020
* The table above provides a hyperlink to the relevant
prospectus supplement for each of the Securities. DJCI, FUD, UAG,
UBG, UCI and USV ETNs are part of UBS AG’s Medium Term Notes,
Series A, on which UBS AG and UBS Switzerland AG are co-obligors.
BDCY and LMLB ETNs are part of UBS AG’s Medium Term Notes, Series
B, on which UBS AG is the sole obligor. Capitalized terms used but
not defined in this press release shall have the meanings ascribed
to such terms in the relevant prospectus supplement for the
Securities.
On November 3, 2020, UBS AG announced the mandatory redemption
of eleven Series A ETRACS ETNs and two Series B ETRACS ETNs,
including these Securities. UBS will pay the applicable Call
Settlement Amount to investors holding the Securities on December
10, 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
each of the Securities can be accessed on EDGAR, the SEC’s website,
at www.sec.gov. The prospectus supplement for each of 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 Securities and there
is no assurance that UBS AG will actually complete the redemptions
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, Wells Fargo Diversified
Business Development Company Index and the Wells Fargo MLP
Ex-Energy Index are trademarks of Wells Fargo & Company and
have been licensed for use for certain purposes by UBS. The ETRACS
Exchange Traded Notes traded under the tickers BDCY and LMLB are
based on indices 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
Products are suitable for investors generally or the advisability
of trading in such Products. Wells does not guarantee that the
Indices referenced by the Products have 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 Indices or for any infirmity in the Products.
The Indices are calculated by third parties, including NYSE Arca,
Inc., which are not affiliated with the issuer of the Products or
with Wells and they do not approve, endorse, review or recommend
the Indices, UBS or the Products.
NONE OF BLOOMBERG, UBS AG, UBS SECURITIES LLC OR ANY OF THEIR
SUBSIDIARIES OR AFFILIATES GUARANTEES THE ACCURACY AND/OR THE
COMPLETENESS OF THE BLOOMBERG COMMODITY INDEXSM OR THE UBS
BLOOMBERG CONSTANT MATURITY COMMODITY INDEX (CMCI) OR ANY DATA
RELATED THERETO AND NONE OF BLOOMBERG, UBS AG, UBS SECURITIES LLC
OR ANY OF THEIR SUBSIDIARIES OR AFFILIATES SHALL HAVE ANY LIABILITY
FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS THEREIN. NONE OF
BLOOMBERG, UBS AG, UBS SECURITIES OR ANY OF THEIR SUBSIDIARIES OR
AFFILIATES MAKES ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO
BE OBTAINED BY OWNERS OF THE SECURITIES OR ANY OTHER PERSON OR
ENTITY FROM THE USE OF THE BLOOMBERG COMMODITY INDEXSM OR ANY DATA
RELATED THERETO. NONE OF BLOOMBERG, UBS AG, UBS SECURITIES LLC OR
ANY OF THEIR SUBSIDIARIES OR AFFILIATES MAKES ANY EXPRESS OR
IMPLIED WARRANTIES AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF
MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH
RESPECT TO THE BLOOMBERG COMMODITY INDEXSM OR THE UBS BLOOMBERG
CONSTANT MATURITY COMMODITY INDEX (CMCI) OR ANY DATA RELATED
THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, TO THE MAXIMUM
EXTENT ALLOWED BY LAW, BLOOMBERG, ITS LICENSORS (INCLUDING UBS),
AND ITS AND THEIR RESPECTIVE EMPLOYEES, CONTRACTORS, AGENTS,
SUPPLIERS AND VENDORS SHALL HAVE NO LIABILITY OR RESPONSIBILITY
WHATSOEVER FOR ANY INJURY OR DAMAGES— WHETHER DIRECT, INDIRECT,
CONSEQUENTIAL, INCIDENTAL, PUNITIVE OR OTHERWISE—ARISING IN
CONNECTION WITH THE BLOOMBERG COMMODITY INDEXSM OR THE UBS
BLOOMBERG CONSTANT MATURITY COMMODITY INDEX CMCI OR ANY DATA OR
VALUES RELATING THERETO—WHETHER ARISING FROM THEIR NEGLIGENCE OR
OTHERWISE, EVEN IF NOTIFIED OF THE POSSIBILITY THEREOF. THERE ARE
NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS
AMONG BLOOMBERG AND UBS SECURITIES LLC, OTHER THAN UBS AG.
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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