UBS Updates Exchange Rate Fixing Time for ETRACS Alerian Midstream Energy Index ETN due June 21, 2050

On June 30, 2020, Alerian announced an update to the methodology guide for the Alerian Midstream Energy Index (the “Index”). Effective as of the close of business on June 30, 2020, the Index began using the WM/Reuters USD/CAD foreign exchange rate as of 4:00 p.m. Eastern Time (rather than 4:00 p.m. London Time) to convert the value of Canadian index constituent securities, for purposes of determining the Index values.

Subsequent to the Index methodology update, UBS Securities LLC, in its capacity as calculation agent for the ETRACS Alerian Midstream Energy Index ETN due June 21, 2050 (Ticker: AMNA) (the “Securities”) today announced a change to the USD/CAD foreign exchange rate fixing time for the Securities following a determination that the prior USD/CAD foreign exchange rate used to convert the cash value of distributions on Canadian index constituent securities is no longer economically representative for purposes of the Securities. Effective as of July 13, 2020, the USD/CAD foreign exchange rate used for the purpose of determining the cash value of distributions on Canadian index constituent securities on the relevant ex-dividend date will be the WM/Reuters USD/CAD foreign exchange rate as of 4:00 pm Eastern Time (rather than 4:00 p.m. London Time).

For more information on the ETNs:
AMNA Prospectus Supplement

About ETRACS

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.

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