UBS to redeem three series of exchange-traded notes on April 9

By Sarah Lizee

Olympia, Wash., March 20 – UBS Investment Bank announced that it will redeem three series of exchange-traded notes on April 9, according to a press release.

The issuer will redeem the $1.35 billion ProShares Daily 3x Long Crude ETN due Jan. 4, 2047 linked to the Bloomberg WTI Crude Oil subindex ER (NYSE Arca: WTIU, Cusip: 90274E117), $100 million VelocityShares 1X Long VStoxx Futures ETN due May 3, 2047 linked to the VStoxx Short-Term Futures Investable index (NYSE Arca: EVIX, Cusip: 90274E828) and $200 million VelocityShares 1X Daily Inverse VStoxx Futures ETN due May 3, 2047 linked to the VStoxx Short-Term Futures Inverse Investable index (NYSE Arca: EXIV, Cusip: 90274E810).

The call settlement amount for WTIU will equal the current principal amount on April 6, being the last valuation date in the five consecutive index business days starting March 31 and ending on April 6. The call settlement amounts for EVIX and EXIV will equal the closing indicative value of such securities, as applicable, on April 6.

Each series will be delisted from the NYSE Arca exchange prior to the open of trading on the call settlement date.

Holders may choose to continue to hold their securities until the call settlement date or choose to sell or redeem their affected securities prior to the applicable call settlement date.

UBS is a financial services company based in Zurich.

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