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UBS ETRACS - ProShares Daily 3x Inverse Crude ETN due 1/4/2047
Ticker Symbol: WTID* CUSIP: 90274E125 Exchange: NYSEA
* NOTE: This security is no longer trading as of 3/20/2020
Company's Online Profile
BUSINESS: The UBS ETRACS - ProShares Daily 3x Inverse Crude ETN is an exchange-traded note due January 4, 2047 linked to the daily compounded 3x leveraged performance of the Bloomberg WTI Crude Oil Subindex ER, less investor fees. Exchange-traded Notes are senior, unsecured, unsubordinated debt securities that provide investors with exposure to the total returns of various market indices, including those linked to stocks, bonds, commodities and/or currencies, less investor fees. On any Business Day on or after January 10, 2018 UBS may at its option redeem all, but not less than all, issued and outstanding securities. The daily return on the 3x Inverse ETNs will benefit from the daily decrease in the index level. UNDERLYING INDEX: The Bloomberg WTI Crude Oil Subindex ER is an excess return index that comprises 1 to 3 month exchange-traded futures contracts on a single commodity (West Texas Intermediate crude oil) and is a subindex of the Bloomberg Commodity Index (Bloomberg: BCOM) and a member of the Bloomberg Commodity Indices family. The Index is designed to measure the returns that are potentially available through an unleveraged investment in rolling West Texas Intermediate crude oil futures contracts traded on major commodity exchanges. The futures contracts are never held to delivery, and are instead rolled forward into replacement contracts every other month. The performance of the Index is primarily determined by changes in price of the futures contract(s) referenced by the Index, the timing of the roll and the relative price movements of the incoming contract and the outgoing contract. The WTI crude oil futures contracts tracked by the Index roll approximately every other month to the contract that is two months longer in maturity. The Index provides investors with a benchmark for rolling futures contracts in this single commodity. INVESTMENT RETURN: These securities will not pay any coupon or interest during their term. You will receive a cash payment at maturity, acceleration or upon exercise by UBS of its call right, based on the applicable performance of the Index less the Annual Tracking Fee. You will receive a cash payment upon early redemption based on the applicable performance of the Index less the Annual Tracking Fee, the Redemption Fee Amount and creation fee. The Securities are intended to be daily trading tools for sophisticated investors to manage daily trading risks as part of an overall diversified portfolio. They are designed to achieve their stated investment objectives on a daily basis. Their performance over longer periods of time can differ significantly from their stated daily objectives. The securities are riskier than securities that have intermediate or long-term investment objectives, and may not be suitable for investors who plan to hold them for a period other than one day or who have a “buy and hold” strategy. Accordingly, the securities should be purchased only by knowledgeable investors who understand the potential consequences of investing in the Index and of seeking daily compounding leveraged inverse investment results. Investors should actively and continuously monitor their investments in the securities, even intra-day. It is possible that you will suffer significant losses in the securities even if the long-term performance of the Index is negative for 3X Inverse Securities. FOR FURTHER INFORMATION: Click on this security's prospectus by clicking on the Link to IPO Prospectus above for further and complete information on these speculative, daily investment orientated securities.
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Notes: March 20, 2020 -- UBS Investment Bank today announced that, following the occurrence of a Stop Loss Termination Event with respect to the ETRACS ProShares Daily 3x Inverse Crude ETN linked to the Bloomberg WTI Crude Oil Subindex ER due January 4, 2047 (Ticker: WTID, CUSIP: 90274E125), UBS has elected to exercise its Acceleration Option with respect to the Securities. As disclosed in more detail in the prospectus supplement relating to the Securities, all outstanding Securities will be redeemed and holders will be entitled to receive the “Stop Loss Redemption Amount”, calculated in accordance with the terms of the Securities. Payment of the Stop Loss Redemption Amount will be made on the Stop Loss Redemption Date which is expected to be March 26, 2020.
The Stop Loss Redemption Amount for the Securities will be equal to the Current Principal Amount of the Securities at the close of trading on March 20, 2020.
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IPO - 1/5/2017 -
Link to IPO Prospectus
Micro Cap Stock -
Market Value $3.4 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Foreign Address and Phone Numbers |
| Address: Bahnhofstrasse 45, CH-8098, Zurich, Switzerland |
| Main Phone Number |
+41-44-234-1111 |
| Fax Number |
+41-44-234-3415 |
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Inv Rel Phone Number
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+41-44-234-4100 |
| Address and Phone Numbers |
| U.S. Representative |
USB NY |
| Address: 1285 Avenue of the Americas, New York, NY 10019 |
| Main Phone Number |
212-821-3000 |
| Fax Number |
212-713-1381 |
| Investor Contact
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800-722-7370
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| Toll Free Phone Number |
877-387-7370 |
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