UBS AG provided a reminder today regarding the upcoming maturity
of the UBS-issued UBS AG FI Enhanced Large Cap Growth ETNs due June
19, 2024 (the “ETNs”), as set forth in the following table.
Table-1
ETN Ticker
ETN Name and Prospectus
Supplement [1]
CUSIP
Maturity Date
FBGX
UBS AG FI Enhanced Large Cap Growth ETN
due June 19, 2024[2]
902677780
06/20/2024*
* The originally scheduled Maturity Date
of June 19, 2024 is expected to be adjusted to June 20, 2024 due to
a non-Trading Day on June 19, 2024 as described in the prospectus
supplements.
[1] The table above provides a hyperlink to the relevant
prospectus and supplements thereto for the ETNs. The ETNs are part
of the UBS AG’s Medium Term Notes, Series A, on which UBS AG and
UBS Switzerland AG are co-obligors. Capitalized terms used but not
defined in this press release shall have the meanings ascribed to
such terms in the relevant prospectus supplement (including, as
applicable, any product supplement and pricing supplement (each
such supplement, a “prospectus supplement”)) for the ETNs.
[2] The prospectus addendum with a link to the updated base
prospectus can be accessed here.
On the Maturity Date of the ETNs, investors holding the ETNs
will receive the Payment at Maturity, which will be calculated as
specified in the prospectus supplements. We expect that the last
day of trading for the ETNs will be June 18, 2024.
Additional details regarding the measurement periods are
included in Table-2 below.
Table-2
ETN Ticker
Final Measurement
Period
Final Measurement Period Start
Date
Final Measurement Period End
Date
Maturity Date
FBGX
5 Trading Days
06/10/2024*
06/14/2024*
06/20/2024*
*Subject to adjustment as described in the
prospectus supplements. The originally scheduled Maturity Date of
June 19, 2024 is expected to be adjusted to June 20, 2024 due to a
non-Trading Day on June 19, 2024.
UBS AG had previously announced on January 7, 2022 that it would
cap the maximum number of ETNs outstanding at any time to 245,000.
At that time, UBS AG expected that its affiliate, UBS Securities
LLC, may continue to sell the ETNs that UBS AG had previously
issued or that UBS Securities LLC may acquire in the future,
subject to the maximum number of the ETNs outstanding as specified
previously. UBS AG expected that the ETNs would continue to trade
on the NYSE Arca and that its affiliate, UBS Securities LLC, may
continue to make markets in the ETNs. UBS AG currently expects to
continue to cap the maximum number of ETNs until the Maturity
Date.
As disclosed in more detail in the prospectus supplements for
the ETNs, the market value of the ETNs may be influenced by, among
other things, supply and demand for the ETNs. It is possible that
the discontinuance of further issuances of the ETNs by UBS AG may
influence the market value of the ETNs. The suspension of new
issuances of the ETNs could affect the liquidity of the market for
the ETNs, potentially leading to insufficient supply and causing
the ETNs to trade at a premium above their closing or intraday
indicative value. Any such premium may subsequently decrease at any
time and for any reason without warning, resulting in financial
loss to sellers who paid this premium when they acquired their
ETNs. In addition, on the Maturity Date, holders will receive the
Payment at Maturity as described in the prospectus supplements but
will not receive any premium thereto. Accordingly, investors who
purchase the ETNs at any time prior to the Maturity Date for an
amount that is greater than the Payment at Maturity (including
paying any premium to the indicative value of the ETNs) will suffer
a loss on their investment if they hold their ETNs until the
Maturity Date.
If investors elect to redeem any such ETNs, any redemption will
be at the redemption value set forth in the prospectus supplements
and will not include any premium above that value. Investors should
always consult their financial advisors and compare the intraday
indicative value of the ETNs with the ETNs’ then-prevailing market
price before purchasing or selling any such ETNs, especially notes
with premium characteristics. The prospectus supplement for the
ETNs can be accessed by clicking on the name of the ETN in Table-1
above as well as on the SEC's website at sec.gov.
This announcement does not affect the terms of the outstanding
ETNs, including the right of holders to require UBS AG to redeem
their ETNs on the terms and at the redemption price set forth in
the prospectus supplements. This news release shall not constitute
an offer to sell or the solicitation of an offer to buy any
securities nor will there be any sale of these ETNs in any state or
other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the
securities laws of any such state or other jurisdiction.
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 complete
the redemption of the ETNs, 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
relating to the ETNs referenced in Table-1. 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.
About UBS ETNs
UBS 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 UBS 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 UBS ETNs. Prior to making an investment in the UBS ETNs,
investors should take into account whether or not the market price
is tracking the intraday indicative value of the UBS ETNs. We urge
you to read the more detailed explanation of risks described under
“Risk Factors” in the applicable prospectus supplement for the UBS
ETN.
UBS AG has filed a registration statement (including a
prospectus and supplements thereto) with the Securities and
Exchange Commission, or SEC, for the offerings of securities to
which this communication relates. Before you invest, you should
read the prospectus, along with the applicable prospectus
supplement to understand fully the terms of the ETNs and other
considerations that are important in making a decision about
investing in the ETNs. The applicable offering document for the
ETNs may be obtained by clicking on the name of the ETNs in Table-2
above. You may also get these documents without cost by visiting
EDGAR on the SEC website at www.sec.gov. The securities related to
the offerings are not deposit liabilities and are not insured or
guaranteed by the Federal Deposit Insurance Corporation or any
other governmental agency of the United States, Switzerland or any
other jurisdiction.
About UBS
UBS is a leading and truly global wealth manager and the leading
universal bank in Switzerland. It also provides diversified asset
management solutions and focused investment banking capabilities.
With the acquisition of Credit Suisse, UBS manages 5.5 trillion
dollars of invested assets as per second quarter 2023. UBS helps
clients achieve their financial goals through personalized advice,
solutions and products. Headquartered in Zurich, Switzerland, the
firm is operating in more than 50 countries around the globe. UBS
Group shares are listed on the SIX Swiss Exchange and the New York
Stock Exchange (NYSE).
This material is issued by UBS AG and/or any of its subsidiaries
and/or any of its affiliates ("UBS"). Products and services
mentioned in this material may not be available for residents of
certain jurisdictions. Past performance is not necessarily
indicative of future results. Please consult the restrictions
relating to the product or service in question for further
information. Activities with respect to US securities are conducted
through UBS Securities LLC, a US broker/dealer. Member of SIPC
(http://www.sipc.org/).
UBS 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, for the offering of the UBS 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 prospectus and applicable prospectus
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.
The ETNs have been developed solely by UBS. The ETNs are not in
any way connected to or sponsored, endorsed, sold or promoted by
the London Stock Exchange Group plc and its group undertakings
(collectively, the “LSE Group”). FTSE Russell is a trading name of
certain of the LSE Group companies. All rights in the FTSE Russell
Indices (the “Indices”) vest in the relevant LSE Group company
which owns the Index. “Russell®” and “FTSE Russell®” are a
trademarks of the relevant LSE Group company and are used by any
other LSE Group company under license. The Index is calculated by
or on behalf of FTSE International Limited or its affiliate, agent
or partner. The LSE Group does not accept any liability whatsoever
to any person arising out of (a) the use of, reliance on or any
error in the Index or (b) investment in or operation of the ETNs.
The LSE Group makes no claim, prediction, warranty or
representation either as to the results to be obtained from the
ETNs or the suitability of the Index for the purpose to which it is
being put by UBS.
UBS specifically prohibits the redistribution or reproduction of
this material in whole or in part without the prior written
permission of UBS and UBS accepts no liability whatsoever for the
actions of third parties in this respect.
© UBS 2024. The key symbol and UBS are among the registered and
unregistered trademarks of UBS. Other marks may be trademarks of
their respective owners. All rights reserved.
1 Individual investors should instruct their
broker/advisor/custodian to call us or should call together with
their broker/advisor/custodian.
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version on businesswire.com: https://www.businesswire.com/news/home/20240517873757/en/
Media Alison Keunen +1 212 713 2296
alison.keunen@ubs.com
Institutional Investor contact1 +1-877-387 2275
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