HDLB: linked to the Solactive US High Dividend Low
Volatility Index Series B SMHB: linked to the Solactive US
Small Cap High Dividend Index Series B PFFL: linked to the
Solactive Preferred Stock ETF Index CEFD: linked to the
S-Network Composite Closed-End Fund Index MVRL: linked to
the Market Vectors Global Mortgage REITs Index GLDI: linked
to the Credit Suisse Nasdaq Gold FLOWSTM 103 Index SLVO:
linked to the Credit Suisse Nasdaq Silver FLOWSTM 106 Index
USOI: linked to the Credit Suisse Nasdaq WTI Crude Oil
FLOWSTM 106 Index
UBS Investment Bank today announced coupon payments for 5 ETRACS
Exchange Traded Notes traded on the NYSE Arca and expected coupon
payments for 3 ETRACS Exchange Traded Notes traded on NASDAQ
(together, the “ETNs”).
NYSE Ticker
ETN Name and Prospectus
Supplementa
Coupon Valuation Date
Ex-Date
Record Date
Payment Date
Coupon Amount
Payment Schedule
Current Yield annualized)
b
HDLB
ETRACS Monthly Pay 2xLeveraged US High
Dividend Low Volatility ETN Series B
8/30/2024
9/13/2024
9/13/2024
9/23/2024
$ 0.0872
Monthly
10.44%
SMHB
ETRACS Monthly Pay 2xLeveraged US Small
Cap High Dividend ETN Series B
8/30/2024
9/13/2024
9/13/2024
9/23/2024
$ 0.0925
Monthly
18.77%
PFFL
ETRACS Monthly Pay 2x
Leveraged Preferred Stock ETN
8/30/2024
9/13/2024
9/13/2024
9/23/2024
$ 0.0957
Monthly
11.37%
CEFD
ETRACS Monthly Pay 1.5X Leveraged
Closed-End Fund Index ETN
8/30/2024
9/13/2024
9/13/2024
9/23/2024
$ 0.2297
Monthly
14.43%
MVRL
ETRACS Monthly Pay 1.5x Leveraged Mortgage
REIT ETN
8/30/2024
9/13/2024
9/13/2024
9/23/2024
$ 0.1440
Monthly
17.64%
a The table above provides a hyperlink to the relevant
prospectus and supplements thereto for each of our ETRACS ETNs,
which are identified by their names. For more information on each
ETRACS ETN, see “List of ETNs”.
b “Current Yield (annualized)” equals the current Coupon
Amount and the two immediately preceding Coupon Amounts, multiplied
by four (to annualize such coupons), divided by the closing Current
Indicative Value of the ETN on its current Coupon Valuation Date
rounded to two decimal places for ease of analysis. The Current
Yield is not indicative of future coupon payments, if any, on the
ETN. You are not guaranteed any coupon or distribution amount under
the ETN.
Note: HDLB, SMHB and PFFL pay a variable monthly coupon linked
to 2 times the cash distributions, if any, on the respective
underlying index constituents, less withholding taxes, if any. CEFD
and MVRL pay a variable monthly coupon linked to 1.5 times the cash
distributions, if any, on the respective underlying index
constituents, less withholding taxes, if any. Variations in the
amount of monthly distributions will lead to large variations in
the Current Yield as calculated above. As such, the Current Yield
is not indicative of future coupon payments, if any, on these
ETNs.
NASDAQ Ticker
ETN Name and Pricing
Supplementc
Closing Indicative Value on
8/30/2024
Ex-Date
Record Date
Payment Date
Expected Coupon Amount per
ETNd
Payment Schedule
Expected Current
Yielde
GLDI
ETRACS Gold Shares Covered Call ETNs due
February 2, 2033
$153.2846
9/20/2024
9/20/2024
9/25/2024
$2.2054
Monthly
14.87% f
SLVO
ETRACS Silver Shares Covered Call ETNs due
April 21, 2033
$77.5329
9/20/2024
9/20/2024
9/25/2024
$1.7449
Monthly
24.04% f
USOI
ETRACS Crude Oil Shares Covered Call ETNs
due April 24, 2037
$70.3639
9/20/2024
9/20/2024
9/25/2024
$2.2149
Monthly
18.55% f
c The table above provides a hyperlink to the relevant
prospectus and supplements thereto for each of our ETRACS ETNs,
which are identified by their names. For more information on each
ETRACS ETN, see “List of ETNs”.
d On August 12, 2024, the Credit Suisse Nasdaq Gold
FLOWSTM 103 Index, the Credit Suisse Nasdaq Silver FLOWSTM 106
Index and the Credit Suisse Nasdaq WTI Crude Oil FLOWSTM 106 Index
(the “Indices”) concluded the notional sale of options on GLD
shares, SLV shares and USO shares, respectively, with September
2024 expiration. We expect that the notional cash distribution
generated by this sale of options will be withdrawn from the
Indices on September 16, 2024, subject to adjustment in the event
of any market disruption events. Assuming no redemption or
acceleration of GLDI, SLVO and USOI, and that the notional cash
distribution is withdrawn from the Indices on September 16, 2024,
we expect to declare a Coupon Amount for GLDI, SLVO and USOI,
respectively, equal to the corresponding Expected Coupon Amount.
The Expected Coupon Amount is subject to change upon the occurrence
of a disruption event or other unforeseen circumstances.
e For each ETN, the Expected Current Yield equals the
Expected Coupon Amount annualized and divided by the Closing
Indicative Value, as discussed in more detail below. The Expected
Current Yield, which is based on an ETN’s Expected Coupon Amount
and its two most recent coupon payments, is not indicative of
future coupon payments, if any, on the ETNs. In particular, future
coupon payments on an ETN may differ significantly from its
Expected Current Yield, if its Closing Indicative Value fluctuates
widely in a volatile market. You are not guaranteed any coupon
payment or distribution under the ETNs. Coupon payments for the
ETNs (if any) are variable and do not represent fixed, periodic
interest payments. The Expected Coupon Amount for any ETN may vary
significantly from coupon period to coupon period and may be zero.
Accordingly, the Expected Current Yield will change over time, and
such change may be significant. Any payment on the ETNs is subject
to UBS AG’s ability to pay its obligations as they become due. For
more information regarding any ETN's coupon payments, please refer
to such ETN's pricing supplement.
f“Expected Current Yield” equals the sum of (i) the
Expected Coupon Amount, plus (ii) the amount of the ETN's two most
recent coupon payments, multiplied by four (to annualize such
coupons), divided by the Closing Indicative Value, and rounded to
two decimal places for ease of analysis. The Expected Current Yield
is subject to change upon the occurrence of a disruption event or
other unforeseen circumstances.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains statements that constitute
“forward-looking statements” that are subject to risks and
uncertainties, and actual results may differ materially. These
statements could contain words such as “possible,” “intend,”
“will,” “may,” “intends,” “would,” “if,” “expect,” “potentially” or
other similar expressions. Forward-looking statements, including
those relating to UBS AG’s plans for the ETNs, are based on
management’s current expectations and assumptions, and are subject
to inherent uncertainties, risks and changes in circumstances that
are difficult to predict. While these forward-looking statements
represent UBS’s judgments, expectations and objectives concerning
the matters described, a number of risks, uncertainties and other
important factors, including whether UBS AG will actually declare a
Coupon Amount for the 3 ETNs traded on NASDAQ, could cause actual
developments and results to differ materially from UBS’s
expectations. For a discussion of the risks and uncertainties that
may affect the ETNs please refer to the "Risk Factors" in the
prospectus supplements and pricing supplement relating to the 3
ETNs traded on NASDAQ. UBS is not under any obligation to (and
expressly disclaims any obligation to) update or alter its
forward-looking statements, whether as a result of new information,
future events, or otherwise.
About ETRACS
ETRACS ETNs are senior unsecured notes issued by UBS AG, are
traded on either NYSE Arca or NASDAQ, 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. We urge you to read
the more detailed explanation of risks described under “Risk
Factors” in the applicable prospectus supplement for the ETRACS
ETN.
UBS AG has filed registration statements (including a prospectus
and supplements thereto) with the Securities and Exchange
Commission, or SEC, for the offerings of securities to which this
communication relates. Before you invest, you should read the
relevant prospectus, along with the applicable prospectus
supplement and pricing supplements to understand fully the terms of
the securities and other considerations that are important in
making a decision about investing in the ETRACS ETNs. The
applicable offering document for each ETRACS ETN may be obtained by
clicking on the name of each ETRACS ETN identified above. You may
also get these documents without cost by visiting EDGAR on the SEC
website at www.sec.gov. Alternatively, you can request the
prospectus and the applicable prospectus supplement, by calling
toll-free (+1-877-387 2275). The securities related to the
offerings are not deposit liabilities and are not insured or
guaranteed by the Federal Deposit Insurance Corporation or any
other governmental agency of the United States, Switzerland or any
other jurisdiction.
About UBS
UBS is a leading and truly global wealth manager and the leading
universal bank in Switzerland. It also provides diversified asset
management solutions and focused investment banking capabilities.
With the acquisition of Credit Suisse, UBS manages 5.7 trillion
dollars of invested assets as per fourth quarter 2023. UBS helps
clients achieve their financial goals through personalized advice,
solutions and products. Headquartered in Zurich, Switzerland, the
firm is operating in more than 50 markets around the globe. UBS
Group shares are listed on the SIX Swiss Exchange and the New York
Stock Exchange (NYSE).
In the US, securities underwriting, trading and brokerage
activities and M&A advisor activities are provided by UBS
Securities LLC, a registered broker/dealer that is a wholly owned
subsidiary of UBS AG, a member of the New York Stock Exchange and
other principal exchanges, and a member of SIPC
(http://www.sipc.org/). UBS Financial Services Inc. is a registered
broker/dealer and affiliate of UBS Securities LLC.
This material is issued by UBS AG and/or any of its subsidiaries
and/or any of its affiliates ("UBS"). This document was produced by
and the opinions expressed are those of UBS as of the date of
writing and are subject to change. It has been prepared solely for
information purposes and for the use of the recipient. It does not
constitute an offer or an invitation by or on behalf of UBS to any
person to buy or sell any security. The information and analysis
contained in this publication have been compiled or arrived at from
sources believed to be reliable but UBS does not make any
representation as to their accuracy or completeness and does not
accept liability for any loss arising from the use hereof. 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.
The financial instrument is not sponsored, promoted, sold or
supported in any other manner by Solactive AG nor does Solactive AG
offer any express or implicit guarantee or assurance either with
regard to the results of using the Index and/or Index trade mark or
the Index Price at any time or in any other respect.
The S-Network Composite Closed-End Fund Index is a service mark
of S-Network Global Indexes, Inc. (“S-Network”) and its use is
granted under a license from S-Network. S-Network does not
guarantee the accuracy and/or completeness of the S-Network
Composite Closed-End Fund Index or any data included therein, and
S-Network shall have no liability for any errors, omissions,
interruptions, or defects therein. S-Network makes no warranty,
express or implied, representations or promises, as to results to
be obtained by UBS AG, or any other person or entity from the use
of the S-Network Composite Closed-End Fund Index or any data
included therein. S-Network makes no express or implied warranties,
representations or promises, regarding the originality,
merchantability, suitability, non-infringement, or fitness for a
particular purpose or use with respect to the S-Network Composite
Closed-End Fund Index or any data included therein. Without
limiting any of the foregoing, in no event shall S-Network have any
liability for any direct, indirect, special, incidental, punitive,
consequential, or other damages (including lost profits), even if
notified of the possibility of such damages.
The ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (“MVRL
ETN”) is not sponsored, endorsed, sold or promoted by MarketVector
Indexes GmbH (“Licensor”) and Licensor makes no representation or
warranty, express or implied, to the owners of the MVRL ETN or any
member of the public regarding the advisability of investing in
securities generally or in the MVRL ETN particularly or the ability
of the Market Vectors® US Mortgage REITs Index to track the
performance of the US mortgage REIT market.
UBS specifically prohibits the redistribution or reproduction of
this communication 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 2024. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240909736479/en/
Media contact Alison Keunen +1-212-713-2296
alison.keunen@ubs.com Institutional Investor contact1
+1-877-387 2275
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