Press Release: UBS declares coupon payments on 14 ETRACS Exchange Traded Notes

Dow Jones07-09

UBS declares coupon payments on 14 ETRACS Exchange Traded Notes

MLPB: linked to the Alerian MLP Infrastructure Index, Series B

AMNA: linked to the Alerian Midstream Energy Index

AMND: linked to the Alerian Midstream Energy Dividend Index

MLPR: linked to the Alerian MLP Index

BDCZ: linked to the MarketVector US Business Development Companies Liquid Index

BDCX: linked to the MarketVector US Business Development Companies Liquid Index

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 FLOWS$(TM)$ 103 Index

SLVO: linked to the Credit Suisse Nasdaq Silver FLOWS(TM) 106 Index

USOI: linked to the Credit Suisse Nasdaq WTI Crude Oil FLOWS(TM) 106 Index 

NEW YORK--(BUSINESS WIRE)--July 08, 2024--

UBS Investment Bank today announced coupon payments for 11 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"). 

 
          ETN Name and     Coupon                                                               Current 
NYSE      Prospectus        Valuation              Record      Payment     Coupon    Payment    Yield 
Ticker    Supplement(a)     Date       Ex-Date     Date         Date        Amount    Schedule  (annualized) 
          ETRACS Alerian 
           MLP 
           Infrastructure 
           Index ETN 
MLPB(b)    Series B         7/1/2024   7/15/2024   7/15/2024   7/23/2024   $0.3927   Quarterly     6.34% 
          ETRACS Alerian 
           Midstream 
           Energy Index 
AMNA(b)    ETN              7/1/2024   7/15/2024   7/15/2024   7/23/2024    $0.585   Quarterly     5.32% 
          ETRACS Alerian 
           Midstream 
           Energy High 
           Dividend Index 
AMND(b)    ETN              7/1/2024   7/15/2024   7/15/2024   7/23/2024   $0.7026   Quarterly     6.21% 
          ETRACS 
           Quarterly Pay 
           1.5x Leveraged 
           Alerian MLP 
MLPR(b)    Index ETN        7/1/2024   7/15/2024   7/15/2024   7/23/2024   $1.5061   Quarterly     10.10% 
          ETRACS 
           MarketVector 
           Business 
           Development 
           Companies 
           Liquid Index 
BDCZ(b)    ETN              7/1/2024   7/15/2024   7/15/2024   7/23/2024   $0.4462   Quarterly     9.04% 
          ETRACS 
           Quarterly Pay 
           1.5x Leveraged 
           MarketVector 
           BDC Liquid 
BDCX(b)    Index ETN        7/1/2024   7/15/2024   7/15/2024   7/23/2024   $1.2498   Quarterly     14.69% 
          ETRACS Monthly 
           Pay 
           2xLeveraged US 
           High Dividend 
           Low Volatility 
HDLB(C)    ETN Series B     7/1/2024   7/15/2024   7/15/2024   7/23/2024   $0.1578    Monthly      11.07% 
          ETRACS Monthly 
           Pay 
           2xLeveraged US 
           Small Cap High 
           Dividend ETN 
SMHB(C)    Series B         7/1/2024   7/15/2024   7/15/2024   7/23/2024   $0.1531    Monthly      23.21% 
          ETRACS Monthly 
           Pay 2x 
           Leveraged 
           Preferred 
PFFL(C)    Stock ETN        7/1/2024   7/15/2024   7/15/2024   7/23/2024   $0.1429    Monthly      11.92% 
          ETRACS Monthly 
           Pay 1.5X 
           Leveraged 
           Closed-End 
           Fund Index 
CEFD(C)    ETN              7/1/2024   7/15/2024   7/15/2024   7/23/2024   $0.2909    Monthly      13.50% 
          ETRACS Monthly 
           Pay 1.5x 
           Leveraged 
           Mortgage REIT 
MVRL(C)    ETN              7/1/2024   7/15/2024   7/15/2024   7/23/2024    $0.5588   Monthly      18.09% 
--------  ---------------  ----------  ----------  ----------  ----------  --------  ---------  ------------

(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 quarterly Coupon Amount, multiplied by four (to annualize such coupon), 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.

(c) "Current Yield (annualized)" equals the current monthly Coupon Amount and the two immediately preceding monthly 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, and MLPR and BDCX pay a variable quarterly coupon, each 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 or quarterly 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. 

 
                                                                      Expected 
                          Closing                                      Coupon 
         ETN Name and    Indicative                                    Amount              Expected 
NASDAQ   Pricing          Value on               Record     Payment     per     Payment     Current 
Ticker   Supplement(d)   6/28/2024    Ex-Date     Date        Date     ETN(e)   Schedule   Yield(f) 
-------  --------------  ----------  ---------  ---------  ---------  --------  --------  ---------- 
         ETRACS Gold 
          Shares 
          Covered Call 
          ETNs due 
          February 2, 
 GLDI     2033           $147.6417   7/22/2024  7/22/2024  7/25/2024  $1.4424   Monthly   12.10% (g) 
-------  --------------  ----------  ---------  ---------  ---------  --------  --------  ---------- 
         ETRACS Silver 
          Shares 
          Covered Call 
          ETNs due 
          April 21, 
 SLVO     2033            $80.3985   7/22/2024  7/22/2024  7/25/2024  $1.3613   Monthly   25.16%(g) 
-------  --------------  ----------  ---------  ---------  ---------  --------  --------  ---------- 
         ETRACS Crude 
          Oil Shares 
          Covered Call 
          ETNs due 
          April 24, 
 USOI     2037            $74.4828   7/22/2024  7/22/2024  7/25/2024  $0.7203   Monthly   13.48%(g) 
-------  --------------  ----------  ---------  ---------  ---------  --------  --------  ----------

(d) 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".

(e) On June 17, 2024, the Credit Suisse Nasdaq Gold FLOWS(TM) 103 Index, the Credit Suisse Nasdaq Silver FLOWS(TM) 106 Index and the Credit Suisse Nasdaq WTI Crude Oil FLOWS(TM) 106 Index (the "Indices") concluded the notional sale of options on GLD shares, SLV shares and USO shares, respectively, with July 2024 expiration. We expect that the notional cash distribution generated by this sale of options will be withdrawn from the Indices on July 15, 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 July 15, 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.

(f) 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.

(g) "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

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July 08, 2024 16:30 ET (20:30 GMT)

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