UBS Investment Bank today announced coupon payments for 7 ETRACS Exchange Traded Notes (the "ETNs”), all traded on the NYSE Arca.
ETN Name and Prospectus/Pricing Supplement*
ETRACS Monthly Pay 2xLeveraged S&P Dividend ETN
ETRACS Monthly Pay 2xLeveraged Wells Fargo MLP Ex-Energy ETN Series B
ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B
ETRACS Monthly Pay 2xLeveraged US Small Cap High Dividend ETN Series B
ETRACS Monthly Pay 2x
Leveraged Preferred Stock ETN
ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN
ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN
* 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”.
** "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: SDYL, LMLB, 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 for each is not indicative of future coupon payments, if any, on these ETNs.
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.
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, pricing, or product supplement to understand fully the terms of the securities and other considerations that are important in making a decision about investing in the ETRACS. The applicable offering document for each ETRACS may be obtained by clicking on the name of each ETRACS identified 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.
UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. UBS's strategy is centered on our leading global wealth management business and our premier universal bank in Switzerland, enhanced by Asset Management and the Investment Bank. The bank focuses on businesses that have a strong competitive position in their targeted markets, are capital efficient, and have an attractive long-term structural growth or profitability outlook.
UBS is present in all major financial centers worldwide. It has offices in more than 50 regions and locations, with about 31% of its employees working in the Americas, 32% in Switzerland, 19% in the rest of Europe, the Middle East and Africa and 18% in Asia Pacific. UBS Group AG employs over 67,000 people around the world. Its 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 (https://www.sipc.org/).
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.
The ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN ("ETN”) is not sponsored, endorsed, sold or promoted by Market Vectors Index Solutions GmbH ("Licensor”) and Licensor makes no representation or warranty, express or implied, to the owners of the ETN or any member of the public regarding the advisability of investing in securities generally or in the ETN particularly or the ability of the Market Vectors® Global Mortgage REITs Index to track the performance of the mortgage REIT market.
The Dow Jones U.S. Select Dividend Index, the S&P High Yield Dividend Aristocrats Index, and the S&P MLP Index ("Indexes”) are products of S&P Dow Jones Indices LLC and have been licensed for use by UBS AG. Copyright © 2020 S&P Dow Jones Indices LLC ("S&P DJI”), a division of S&P Global. All rights reserved. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC ("S&P”) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones”). UBS’s ETRACS Exchange Traded Notes based on the Indexes are not sponsored, endorsed, marketed or sold by S&P DJI, S&P, Dow Jones, their affiliates or third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the Indexes.
The financial instrument is not sponsored, promoted, sold or supported in any other manner by Solactive AG nor does Solactive AG offer any express or implicit guarantee or assurance either with regard to the results of using the Index and/or Index trade mark or the Index Price at any time or in any other respect.
S-Network Composite Closed-End Fund Index and CEFX are trademarks of Alerian and their use is granted under a license from Alerian.
Wells Fargo Securities, Wells Fargo, Wells Fargo Business Development Company Index, Wells Fargo Diversified Business Development Company Index and the Wells Fargo MLP Ex-Energy Index are trademarks of Wells Fargo & Company and have been licensed for use for certain purposes by UBS. The ETRACS Exchange Traded Notes traded under the tickers BDCS, BDCZ, BDCY and LMLB are based on indices maintained by Wells Fargo Securities, LLC and are not issued, sponsored, endorsed or advised by Wells Fargo Securities, LLC, Wells Fargo & Company or their affiliates ("Wells”) and Wells makes no representation regarding whether such Products are suitable for investors generally or the advisability of trading in such Products. Wells does not guarantee that the Indices referenced by the Products have been accurately calculated or that the Indices appropriately represent particular investment strategies. Wells shall not have any liability for any error in the calculation of the Indices or for any infirmity in the Products. The Indices are calculated by third parties, including NYSE Arca, Inc., which are not affiliated with the issuer of the Products or with Wells and they do not approve, endorse, review or recommend the Indices, UBS or the Products.
NYSE Arca, Inc. ("NYSE Arca”), which acts as calculation agent for the Wells Fargo Business Development Company Index, Wells Fargo Diversified Business Development Company Index and the Wells Fargo MLP Ex-Energy Index (the "Indices”), is not affiliated with UBS AG, Wells Fargo & Company or Wells Fargo Securities, LLC (together, "Wells Fargo”) and does not approve, endorse, review or recommend the Products.
ICE Data and its suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any information included in, related to, or derived therefrom ("index data”). Ice data and its suppliers shall not be subject to any damages or liability with respect to the adequacy, accuracy, timeliness or completeness of the indices and the index data, which are provided on an "as is” basis and your use is at your own risk.
UBS specifically prohibits the redistribution or reproduction of this communication 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 2020. The key symbol, UBS and ETRACS are among the registered and unregistered trademarks of UBS. Other marks may be trademarks of their respective owners. All rights reserved.
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NEW YORK, April 23, 2021 /PRNewswire/ -- Six One Commodities Global LLC ("61C Global"), a natural gas and power merchant backed by Pinnacle Asset Management, L.P. ("Pinnacle"), today announced the acquisitions of Vega Energy Partners, Ltd. ("VEP") and WGL Midstream, Inc. ("WGLM").VEP is a Houston, TX-based energy merchant that, in addition to managing the assets of WGLM, holds asset management agreements and has a strong team moving to 61C Global's platform as part of the transaction. WGLM is a wholesale energy solutions business that invests in and optimizes natural gas pipelines and storage facilities in the Midwest and Eastern United States. "This is a transformational opportunity for 61C Global. These acquisitions will accelerate our growth in the natural gas market, add significant earnings potential, and provide a solid platform for us to link our existing domestic and international LNG businesses," said Ben Sutton, Chief Executive Officer of 61C Global. "We are excited to establish a Houston office and presence, and we look forward to integrating and working collaboratively with the talented team at VEP to further position us as a premier, globally-integrated energy merchant company."Jason M. Kellman, Managing Partner and Chief Investment Officer of Pinnacle, added, "These acquisitions of VEP and WGLM are a seamless way for 61C Global to gain a significant footprint in the U.S. natural gas market. We look forward to leveraging VEP and WGLM's assets and capabilities as we continue to expand the 61C Global business."Over the past five years, Pinnacle-managed entities have made several strategic investments to bolster Pinnacle's physical commodities trading and merchanting business, including acquiring Five Rivers Cattle Feeding, the world's largest cattle feeding operation, forming Viserion Grain, an agricultural merchant which is expected to manage a portfolio of strategic grain storage and handling facilities, as well as being the majority shareholder of Concord Resources Holdings Limited, a global metals merchant formed in 2015 with a team of former Noble Group executives.
ABOUT PINNACLE ASSET MANAGEMENT, L.P.Founded in 2003, Pinnacle Asset Management, L.P. is a private, New York-based alternative asset management firm focused on the global commodities markets with approximately $3.2 billion under management. Pinnacle provides its institutional investor base with exposure to the global commodities markets via physical and financial absolute return strategies and products. Pinnacle is registered as an investment adviser with the Securities and Exchange Commission, is registered as a commodity trading adviser and a commodity pool operator with the Commodity Futures Trading Commission and is a member of the National Futures Association.ABOUT SIX ONE COMMODITIES GLOBAL LLCIn August of 2018, Pinnacle, a leading commodities and natural resources investment organization, partnered with Ben Sutton, who had served as Head of North American Gas and Power at Noble Americas Gas & Power Corp., to form 61C Global.61C Global is an international natural gas, LNG, and power merchant headquartered in Stamford, CT. The 61C Global team has a demonstrated track record of unique market insight, strong client relationships, and disciplined risk management to execute on opportunities within the gas and power merchanting space.
View original content:https://www.prnewswire.com/news-releases/pinnacle-asset-management-backed-six-one-commodities-announces-the-acquisition-of-vega-energy-partners-and-wgl-midstream-301276197.htmlSOURCE Pinnacle Asset Management
NEW YORK, May 2, 2021 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against 3D Systems Corporation ("3D Systems" or the "Company") (NYSE: DDD) and certain of its officers. The class action, filed in the United States District Court for the Eastern District of New York, and docketed under 21-cv-02383, is on behalf of a class consisting of all persons and entities other than Defendants who purchased or otherwise acquired the publicly traded securities of 3D Systems from May 7, 2020 to March 1, 2021 (the "Class Period"). Plaintiff seeks to recover compensable damages caused by Defendants' violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").If you are a shareholder who purchased 3D Systems securities during the Class Period, you have until June 8, 2021 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at email@example.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. [Click here for information about joining the class action]3D Systems provides comprehensive 3D printing and digital manufacturing solutions, including 3D printers for plastics and metals, materials, software, on-demand manufacturing services, and digital design tools.
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) 3D Systems lacked proper internal controls over financial reporting; and (ii) as a result, 3D Systems' public statements were materially false and/or misleading at all relevant times.On March 1, 2021, 3D Systems issued a press release announcing a delay of filing the Company's 10-K annual report for the fiscal year ended December 31, 2020, noting that "the delay in filing is primarily related to the presentation of cash flows associated with the divestiture process for its Cimatron and GibbsCam software businesses," while revealing that the Company had "discovered certain internal control deficiencies" and "will report material weaknesses in internal controls in its fiscal 2020 Annual Report on Form 10-K."On March 2, 2021, 3D Systems filed a Form NT 10-K with the United States Securities and Exchange Commission, stating that the Company's 10-K filing would be delayed for the reasons listed in its March 1, 2021 press release.On this news, 3D Systems' stock price fell $7.62 per share, or more than 19.6%, from closing at $38.79 per share on March 1, 2021 to close at $31.17 per share on March 2, 2021, damaging investors.The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT: Robert S. WilloughbyPomerantz LLP firstname.lastname@example.org ext. 7980 View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert--pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-3d-systems-corporation-of-class-action-lawsuit-and-upcoming-deadline--ddd-301281765.htmlSOURCE Pomerantz LLP