This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

UBS Announces Consent Solicitation Regarding Exchange Traded Note Linked To The UBS Bloomberg Constant Maturity Commodity Index Total Return Due 2038: UCI

UBS AG announced today that it has launched a consent solicitation (the “Consent Solicitation”) for its Exchange Traded Access Securities (ETRACS) linked to the UBS Bloomberg Constant Maturity Commodity Index Total Return due 2038, CUSIP No. 902641778 (the “Securities”). The Securities trade on the NYSE Arca under the ticker symbol “UCI”.

Subject to the terms and conditions set forth in the Consent Solicitation Statement dated October 16, 2012 (the “Statement”) and the accompanying Letter of Transmittal (the “Letter of Transmittal”), UBS AG (“UBS”) is soliciting consents (“Consents”) to the proposed amendment (the “Proposed Amendment”) of the Indenture from each person in whose name Securities were registered at 5:00 p.m., New York City time, on October 15, 2012 (the “Record Date”), or their duly designated proxies, including persons who held Securities through The Depository Trust Company as of the Record Date (“DTC Participants” and, together with registered holders as of the Record Date, the “Holders”).

Pursuant to the terms of the Securities, UBS has the right to redeem all, but not less than all, outstanding Securities on any “Trading Day” (as defined in the Securities) on or after April 4, 2013, provided that the aggregate principal amount of the Securities outstanding must be less than $10,000,000 on the fifth Trading Day prior to the applicable “Call Settlement Date” (as defined in the Securities). Also, pursuant to the terms of the Securities, the “Fee Amount” is currently an amount equal to 0.65% per annum calculated on a daily basis.

The Proposed Amendment would give UBS the right, on or after April 4, 2013, to redeem all, but not less than all, outstanding Securities, without regard to the amount of Securities outstanding. If UBS receives the Requisite Consents (as defined below) to make such change to the redemption provision of the Securities and enters into the Supplemental Indenture (as defined in the Statement), then UBS will also reduce the Fee Amount of the Securities applicable to the period beginning on the day after such Supplemental Indenture is entered into and continuing until the “Maturity Date” (as defined in the Securities) from an amount equal to 0.65% per annum to an amount equal to 0.55% per annum, calculated on a daily basis.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.27 0.00%
FB $101.00 0.00%
GOOG $684.12 0.00%
TSLA $143.67 0.00%
YHOO $27.10 0.00%


Chart of I:DJI
DOW 15,914.74 -99.64 -0.62%
S&P 500 1,851.86 -0.35 -0.02%
NASDAQ 4,283.5920 +14.8290 0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs