NEW YORK–(BUSINESS WIRE)–On June 30, 2020, Alerian announced an update to the methodology guide for the Alerian Midstream Energy Index (the “Index”). Effective as of the close of business on June 30, 2020, the Index began using the WM/Reuters USD/CAD foreign exchange rate as of 4:00 p.m. Eastern Time (rather than 4:00 p.m. London Time) to convert the value of Canadian index constituent securities, for purposes of determining the Index values.
Subsequent to the Index methodology update, UBS Securities LLC, in its capacity as calculation agent for the ETRACS Alerian Midstream Energy Index ETN due June 21, 2050 (Ticker: AMNA) (the “Securities”) today announced a change to the USD/CAD foreign exchange rate fixing time for the Securities following a determination that the prior USD/CAD foreign exchange rate used to convert the cash value of distributions on Canadian index constituent securities is no longer economically representative for purposes of the Securities. Effective as of July 13, 2020, the USD/CAD foreign exchange rate used for the purpose of determining the cash value of distributions on Canadian index constituent securities on the relevant ex-dividend date will be the WM/Reuters USD/CAD foreign exchange rate as of 4:00 pm Eastern Time (rather than 4:00 p.m. London Time).
For more information on the ETNs:
AMNA Prospectus Supplement
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. 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, as applicable, for the ETRACS ETN.
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ETRACS ETNs are sold only in conjunction with the relevant offering materials. UBS has filed a registration statement (including a prospectus, as supplemented by the applicable prospectus supplement, or product supplement and pricing supplement, for the offering of the ETRACS ETNs) with the Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you should read these documents and any other documents that UBS has filed with the SEC for more complete information about UBS and the offering to which this communication relates. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, you can request the applicable prospectus supplement, or product supplement and pricing supplement, by calling toll-free (+1-877-387 2275). 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. UBS Financial Services Inc. is a registered broker/dealer and affiliate of UBS Securities LLC.
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