ETRACS 2x Leveraged Factor ETN Toolkit

Welcome to the UBS ETRACS 2x Leveraged Factor ETNs page, highlighting the full toolkit of leveraged factor ETRACS ETNs available to investors.

Each Factor ETN provides two times leveraged long exposure to the compounded quarterly performance of the applicable underlying total return index, less financing costs and tracking fees. An investment in the ETNs is subject to a number of risks, including the risk of loss of all of the investor's principal, and is subject to the creditworthiness of UBS AG. The ETNs do not pay any coupon or guarantee any return. We urge you to read the more detailed explanation of risks described in the prospectus and applicable prospectus supplement for the ETRACS ETN that you are interested in.

FACTOR	TICKER	ETN NAME	INDEX NAME
Dividend	SCDL	ETRACS 2x Leveraged US Dividend Factor TR ETN	Dow Jones US Dividend 100 TR USD
Growth	IWFL	ETRACS 2x Leveraged US Growth Factor TR ETN	Russell 1000 Growth TR USD
Size	IWML	ETRACS 2x Leveraged US Size Factor TR ETN	Russell 2000 TR USD
Value	IWDL	ETRACS 2x Leveraged US Value Factor TR ETN	Russell 1000 Value TR USD
Min. Vol.	USML	ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN	MSCI USA Minimum Volatility GR USD
Momentum	MTUL	ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN	MSCI USA Momentum GR USD
Quality	QULL	ETRACS 2x Leveraged MSCI US Quality Factor TR ETN	MSCI USA Sector Neutral Quality GR USD


Ticker	SCDL	IWFL	IWML	IWDL	USML	MTUL	QULL
Index Features
Factor	Dividend	Growth	Size	Value	Min. Vol	Momentum	Quality
Index Ticker	DJUSDIVT	RU10GRTR	RU20INTR	RU10VATR	M00IMVST	M2US000$	M2USSNQ
Index Sponsor	S&P Dow Jones	FTSE Russell	FTSE Russell	FTSE Russell	MSCI	MSCI	MSCI
Constituents	US Stocks	US Stocks	US Stocks	US Stocks	US Stocks	US Stocks	US Stocks
ETN Feature
Coupon Paying	No^[1]	No^[1]	No^[1]	No^[1]	No^[1]	No^[1]	No^[1]
Annual Tracking Fee Rate	0.95%	0.95%	0.95%	0.95%	0.95%	0.95%	0.95%
Annual Financing Fee Rate	3mLIBOR + 0.95%	3mLIBOR + 0.95%	3mLIBOR + 0.95%	3mLIBOR + 0.95%	3mLIBOR + 0.95%	3mLIBOR + 0.95%	3mLIBOR + 0.95%
Leverage	2x	2x	2x	2x	2x	2x	2x
Scheduled Leverage Reset Frequency	Quarterly	Quarterly	Quarterly	Quarterly	Quarterly	Quarterly	Quarterly
Loss Rebalancing Event^[2]	-20%	-20%	-20%	-20%	-20%	-20%	-20%
Permanent Deleveraging Event^[3]	-40%	-40%	-40%	-40%	-40%	-40%	-40%
Zero Value Event^[4]	$0 CIV	$0 CIV	$0 CIV	$0 CIV	$0 CIV	$0 CIV	$0 CIV
Prospectus Link	Prospectus	Prospectus	Prospectus	Prospectus	Prospectus	Prospectus	Prospectus

[1] The ETN does not pay any coupons. The ETN tracks a total return Index which treats distributions on its constituent securities as if they were reinvested.

[2] If the Intraday Index Value has decreased by 20% or more from the Closing Index Level on the most recent Reset Valuation Date, a Loss Rebalancing Event will occur and the leverage will be reset to approximately 2.0x. Reset Valuation Dates generally occur quarterly and upon any Loss Rebalancing Event.

[3] If at any time the Intraday Index Value has decreased by 40% or more from the Closing Index Level on the most recent Reset Valuation Date, and the leverage has not yet been reset to 2.0x after the preceding Loss Rebalancing Event, a Permanent Deleveraging Event will occur and the leverage will be permanently reset to 1.0x over two Index Business Days.

[4] If at any time the Closing Indicative Value or the Current Indicative Value is less than or equal to zero, a Zero Value Event will occur and the Closing Indicative Value and the Current Indicative Value will be permanently reset to zero. A Zero Value Event cannot occur if the leverage has already been permanently reset to 1.0x as the result of a Permanent Deleveraging Event.

UBS ETRACS Exchange Traded Notes are senior, unsecured, unsubordinated debt securities that are designed to track the returns of a specific market index, less investor fees. For more information about each ETRACS ETN please visit the respective product detail page, and review the prospectus and applicable prospectus supplement.

The ETNs are intended to be trading tools for sophisticated investors as part of an overall diversified portfolio. They are designed to achieve their stated investment objectives on a quarterly, or in certain circumstances, shorter basis. Their performance over longer periods of time can differ significantly from their stated objectives. The ETNs are riskier than securities that have intermediate or long-term investment objectives, and may not be suitable for investors who have a “buy and hold” strategy. Accordingly, the ETNs should be purchased only by knowledgeable investors who understand the potential consequences of investing in an Index and of seeking quarterly compounding leveraged long investment results. Investors should actively and continuously monitor their investments in the ETNs, even intra-day. It is possible that you will suffer significant losses in the ETNs even if the long-term performance of the applicable Index is positive.

Important legal information specific to ETRACS ETNs.

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 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 prospectus supplement for each ETRACS may be viewed by clicking on the ticker symbol of each ETRACS identified above. You may also view any of 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.

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Important legal and regulatory information:

The products, services, information and/or materials contained within these web pages may not be available for residents of certain jurisdictions. Please consult the sales restrictions relating to the products or services in question for further information. Activities with respect to US securities are conducted through UBS Securities LLC, a US broker dealer. Member of SIPC

For information as to which entity provides the services in each jurisdiction click here.

The information in this section of the website may not be accessed in respect of any member state of the European Economic Area ("EEA") by persons who are retail investors. The securities referred to herein are not to be offered, sold or otherwise made available to any retail investor in the EEA and any person who is a retail investor in the EEA should not act or rely on this information or any of its contents. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, "MiFID II"); (ii) a customer within the meaning of Directive 2002/92/EC (the "Insurance Mediation Directive"), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in Directive 2003/71/EC (as amended, the "Prospectus Directive").

The information in this section of the website may not be accessed in respect of the United Kingdom by persons who are retail investors. The securities referred to herein are not to be offered, sold or otherwise made available to any retail investor in the United Kingdom and any person who is a retail investor in the United Kingdom should not act or rely on this information or any of its contents. For these purposes, a retail investor means a person who is one (or more) of: a retail client as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (the "EUWA"); (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000 (the "FSMA") and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; or (iii) not a qualified investor as defined in Article 2 of the Prospectus Regulation as it forms part of domestic law by virtue of the EUWA ("UK Prospectus Regulation").