UBS declares coupon payments on 8 ETRACS Exchange Traded Notes

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)--May 06, 2025-- 

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").

 
                                                                                                  Current 
          ETN Name and     Coupon                                                                 Yield 
NYSE      Prospectus       Valuation                 Record       Payment      Coupon   Payment   (annualized) 
Ticker    Supplement(a)    Date         Ex-Date      Date         Date         Amount   Schedule  (b) 
           ETRACS Monthly 
            Pay 
            2xLeveraged US 
            High Dividend 
            Low Volatility                                             5/21/ 
HDLB        ETN Series B      4/30/2025     5/13/2025     5/13/2025     2025    $0.1387  Monthly      11.86% 
           ETRACS 
            2xMonthly Pay 
            Leveraged US 
            Small Cap High 
            Dividend ETN                                               5/21/ 
SMHB        Series B          4/30/2025     5/13/2025     5/13/2025     2025    $0.0316  Monthly      23.17% 
           ETRACS 
            2xMonthly Pay 
            Leveraged 
            Preferred                                                  5/21/ 
PFFL        Stock ETN         4/30/2025     5/13/2025     5/13/2025     2025    $0.0890  Monthly      13.52% 
           ETRACS Monthly 
            Pay 1.5X 
            Leveraged 
            Closed-End 
            Fund Index                                                 5/21/ 
CEFD        ETN               4/30/2025     5/13/2025     5/13/2025     2025    $0.2049  Monthly      16.22% 
           ETRACS Monthly 
            Pay 1.5x 
            Leveraged 
            Mortgage REIT                                              5/21/ 
MVRL        ETN               4/30/2025     5/13/2025     5/13/2025     2025    $0.1295  Monthly      21.74% 
--------   ---------------   -----------   -----------   -----------   ------   -------  --------  ------------ 
 

(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.

 
                                                                        Expected 
                            Closing                                      Coupon 
           ETN Name and    Indicative                                    Amount             Expected 
NASDAQ       Pricing        Value on               Record     Payment     per     Payment    Current 
Ticker    Supplement(c)    4/30/2025    Ex-Date     Date       Date      ETN(d)   Schedule  Yield(e) 
-------   --------------   ----------  ---------  ---------  ---------  --------  --------  --------- 
           ETRACS Gold 
            Shares Covered 
            Call ETNs due 
            February 2, 
  GLDI      2033            $163.0721   5/21/2025  5/21/2025  5/27/2025  $3.8575   Monthly   18.67%(f) 
--------   ---------------  ----------  ---------  ---------  ---------  --------  --------  --------- 
           ETRACS Silver 
            Shares Covered 
            Call ETNs due 
            April 21, 
  SLVO      2033             $77.3545   5/21/2025  5/21/2025  5/27/2025  $2.1554   Monthly   28.61%(f) 
--------   ---------------  ----------  ---------  ---------  ---------  --------  --------  --------- 
           ETRACS Crude 
            Oil Shares 
            Covered Call 
            ETNs due April 
  USOI      24, 2037         $52.1482   5/21/2025  5/21/2025  5/27/2025  $0.8511   Monthly   15.96%(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.

(d) On April 11, 2025, 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 May 2025 expiration. We expect that the notional cash distribution generated by this sale of options will be withdrawn from the Indices on May 12, 2025, 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 May 12, 2025, 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.

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