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UBS Announces Call Settlement Amount for the Series A ETRACS ETN Linked to the Wells Fargo® Business Development Company Index

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UBS AG announced today the Call Settlement Amount for the ETRACS ETN Linked to the Wells Fargo Business Development Company Index due April 26, 2041 (the "Securities"), as set forth in the table below.

Table-1

ETN Ticker

ETN Name and Prospectus Supplement*

Call
Settlement
Amount

CUSIP

Call Settlement
Date

BDCS

ETRACS Linked to the Wells Fargo® Business Development Company Index due April 26, 2041

$15.2282

902641588

11/27/2020

* The table above provides a hyperlink to the prospectus supplement for the Securities. The Securities are part of 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 prospectus supplement for the Securities.

On November 3, 2020, UBS AG announced the mandatory redemption of eleven Series A ETRACS ETNs, including these Securities. UBS will pay the applicable Call Settlement Amount to investors holding the Securities on November 27, 2020.

UBS has filed a Registration Statement on Form F-3 (Registration No. 333-225551) including a prospectus and supplements thereto with the Securities and Exchange Commission ("SEC") for the general offering of certain exchange-traded securities offered by UBS. Before you invest, you should read the prospectus, along with the applicable prospectus supplements, or product supplement and pricing supplements, as applicable, to understand fully the terms of the securities and other considerations that are important in making a decision about investing in the securities. For more information regarding the Securities, the prospectus supplement for the Securities can be accessed on EDGAR, the SEC’s website, at www.sec.gov. The prospectus supplement for the Securities is also available at the link included in Table-1 above.

CAUTIONARY LANGUAGE CONCERNING FORWARD-LOOKING STATEMENTS

Information set forth in this news release contains forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially. A discussion of factors that may affect future results is contained in UBS AG’s filings with the Securities and Exchange Commission and in the Registration Statement related to the Series A ETNs and there is no assurance that UBS AG will actually complete the redemption of the Securities. UBS disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.

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. Prior to making an investment in the ETRACS ETNs, investors should take into account whether or not the market price is tracking the intraday indicative value of 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, for the ETRACS ETN.

About UBS

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 (http://www.sipc.org/).

Wells Fargo Securities, Wells Fargo and Wells Fargo Business Development Company Index are trademarks of Wells Fargo & Company and have been licensed for use for certain purposes by UBS. The ETRACS Exchange Traded Note traded under the ticker BDCS is based on an index 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 Product is suitable for investors generally or the advisability of trading in such a Product. Wells does not guarantee that the Index referenced by the Product has 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 Index or for any infirmity in the Product. The Index is calculated by third parties, including NYSE Arca, Inc., which are not affiliated with the issuer of the Product or with Wells and they do not approve, endorse, review or recommend the Indices, UBS or the Products.

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 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.

1 Individual investors should instruct their broker/advisor/custodian to call us or should call together with their broker/advisor/custodian.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201124005790/en/

Contacts

Media contact
Christina Aquilina
+1 212 713 4488
Christina.aquilina@ubs.com

Institutional Investor contact1
+1-877-387 2275