UBS AG announced today the per-security amounts payable
(collectively, the “Call Settlement Amounts”) for the below seven
UBS-issued exchange traded notes set forth in the following table
(collectively, the “ETNs”).
Table-1
ETN Ticker
ETN Name and Prospectus
Supplement [1]
Call Settlement Amount
CUSIP
Call Settlement Date
DJCB
ETRACS Bloomberg Commodity Index Total
Return℠ ETN Series B due October 31, 2039[2]
$20.8636
90269A450
12/12/2024
WUCT
ETRACS Whitney US Critical
Technologies ETN due March 13, 2053
$36.2753
90278V222
12/12/2024
AMNA
ETRACS Alerian Midstream Energy
Index ETN due June 21, 2050[3]
$53.5830
90269A351
12/12/2024
AMND
ETRACS Alerian Midstream Energy
High Dividend Index ETN due July 19, 2050[3]
$53.5415
90269A252
12/12/2024
AMTR
ETRACS Alerian Midstream Energy
Total Return Index ETN due October 20, 2050[3]
$76.6566
90269A245
12/12/2024
ESUS
ETRACS 2x Leveraged MSCI USA ESG
Focus TR ETN due September 15, 2061[4]
$36.1178
90278V743
12/12/2024
FEDL
ETRACS 2x Leveraged IFED Invest
with the FED TR Index ETN due September 15, 2061[4]
$55.6842
90278V750
12/12/2024
[1] The table above provides a hyperlink
to the relevant prospectus and supplements thereto for each of the
ETNs, which are identified by their names. Each of the above ETNs
are part of the UBS AG’s Medium Term Notes, Series B, on which UBS
AG is 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 (including, as applicable, any
product supplement and pricing supplement (each such supplement, a
“prospectus supplement”)) for the ETNs. The Call Settlement Amount
in this table refers to the Redemption Amount as defined in the
securities represented by DJCB. [2] The prospectus addendum with a
link to the updated base prospectus and the changes to the section
entitled “Early Redemption” on page S-3 of the prospectus
supplement can be accessed here. [3] The prospectus addendum with a
link to the updated base prospectus can be accessed here. [4] The
prospectus addendum with a link to the updated base prospectus can
be accessed here.
On November 20, 2024, UBS AG announced the redemption of the
ETNs. UBS will pay the applicable Call Settlement Amount to
investors holding the ETNs on December 12, 2024.
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 complete
the redemption of the ETNs, 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 applicable prospectus
supplement(s) relating to the ETNs referenced in Table-1. 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 ETNs
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 ETRACS 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 ETRACS ETNs.
We urge you to read the more detailed explanation of risks
described under “Risk Factors” in the applicable prospectus
supplement for each ETRACS ETN.
UBS AG has filed a registration statement (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 prospectus, along with the applicable prospectus
supplement(s) to understand fully the terms of the ETNs and other
considerations that are important in making a decision about
investing in the ETNs. The applicable offering document for each
ETN may be obtained by clicking on the name of each ETNs identified
above. You may also get these documents without cost by visiting
EDGAR on the SEC website at www.sec.gov. 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 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.
Bloomberg is not affiliated with UBS. UBS assumes sole
responsibility for this press release, which has not been reviewed
by Bloomberg. None of Bloomberg, UBS AG, UBS Securities LLC or any
of their subsidiaries or affiliates (collectively, "Bloomberg or
UBS") guarantees the accuracy and/or the completeness of the
Bloomberg Commodity Index℠ or any data related thereto and neither
of Bloomberg or UBS shall have any liability for any errors,
omissions or interruptions therein. Neither of Bloomberg or UBS
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 Index℠ or any data related
thereto. Neither of Bloomberg or UBS 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 Index℠ 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 Index℠ 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.
The securities referred to herein are not sponsored, endorsed,
issued, sold or promoted by MSCI, and MSCI bears no liability with
respect to any such securities or any index on which such
securities are based. The respective ETN prospectus contains a more
detailed description of the limited relationship MSCI has with
UBS.
Alerian Midstream Energy Index, Alerian Midstream Energy
Dividend Index, AMNA, AMNTR and AEDW are trademarks of VettaFi and
their use is granted under a license from VettaFi. VetttaFi owns
and administers the Alerian Index Series.
Solactive AG (“Solactive”) is the licensor of Solactive Whitney
U.S. Critical Technologies CNTR Index (the “Index”). The Index has
been developed in cooperation with J.H. Whitney Data Services, LLC
(“J.H. Whitney”). The financial instruments that are based on the
Index are not sponsored, endorsed, promoted or sold by Solactive or
J.H. Whitney in any way and Solactive or J.H. Whitney make no
express or implied representation, guarantee or assurance with
regard to: (a) the advisability of investing in the financial
instruments; (b) the quality, accuracy and/or completeness of the
Index; and/or (c) the results obtained or to be obtained by any
person or entity from the use of the Index. Solactive or J.H.
Whitney do not guarantee the accuracy and/or the completeness of
the Index and shall not have any liability for any errors or
omissions with respect thereto. The Index has not been designed to
achieve positive returns and neither Solactive nor J.H. Whitney is
acting as a fiduciary or investment adviser for any user of the
Index or investor in any financial instrument based on the Index.
Notwithstanding Solactive’s obligations to its licensees, Solactive
reserves the right to change the methods of calculation or
publication with respect to the Index and Solactive or J.H. Whitney
shall not be liable for any miscalculation of or any incorrect,
delayed or interrupted publication with respect to the Index.
Solactive or J.H. Whitney shall not be liable for any damages,
including, without limitation, any loss of profits or business, or
any special, incidental, punitive, indirect or consequential
damages suffered or incurred as a result of the use of (or
inability to use) the Index.
Economic Index Associates, LLC (“EIA”) outsources the end-of-day
and real-time calculation of its IFED™ indexes that serve as the
basis for investment products. Third party index calculators that
publish and distribute EIA indexes strive to the best of their
ability to ensure the correctness of the calculations. There is no
obligation for EIA—irrespective of possible obligations to
issuers—to advise third parties, including investors and/or
financial intermediaries, of any errors in any of the indexes that
are calculated on a real-time basis. The publication and
distribution of any IFED™ indexes that are calculated on a
real-time basis and that serve as the basis for products licensed
by EIA are not intended as a recommendation for capital investment
and does not contain any assurance or opinion of EIA regarding a
possible investment in a financial instrument based on an
Index.
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.
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