UBS releases series B ETracs without guarantee of UBS Switzerland

By Angela McDaniels

Tacoma, Wash., Oct. 8 – UBS AG, London Branch introduced series B versions of six series of its exchange-traded access securities, according to 424B2 filings with the Securities and Exchange Commission.

Unlike the series A ETracs, the series B ETracs do not benefit from the co-obligation of UBS Switzerland AG. Otherwise, the terms are substantially the same.

The issuer priced

• $37.5 million principal amount of ETracs Alerian MLP index exchange-traded notes, series B, due 2042;

• $37.5 million principal amount of ETracs Wells Fargo Business Development Company index ETNs, series B, due 2041;

• $37.5 million principal amount of 2×Leveraged Long ETracs Wells Fargo Business Development Company index ETNs, series B, due 2041;

• $37.5 million principal amount of Etracs Alerian MLP Infrastructure index ETNs, series B, due 2040;

• $37.5 million principal amount of Etracs UBS Bloomberg Constant Maturity Commodity Index Total Return ETNs, series B, due 2038; and

• $37.5 million principal amount of Etracs Monthly Pay 2xLeveraged Mortgage REIT ETNs, series B, due 2042 linked to the Market Vectors Global Mortgage REITs index.

In each case, the notes were sold to UBS Securities LLC on Thursday. After Thursday, from time to time UBS may sell a portion of the ETNs and issue and sell additional ETNs at market prices prevailing at the time of sale, at prices related to market prices or at negotiated prices.

UBS plans to issue up to $100 million of each series of series B ETracs.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.