ETRACS Linked to the Wells Fargo Business Development Company Index ETN Series B

An intraday "indicative value" is used to measure the intrinsic value of each ETN and is for reference purposes only. Note: The market price (the actual trading price) of ETNs may be different from their indicative value.
Current Indicative Value
12/11/2019 | 11:15 am
USD 20.28

Current Spot Price USD 20.29
12/11/2019 | 11:15 am

Index Profile

Underlying Index	Wells Fargo Business Development Company Index Total Return
Ticker symbol	WFBDCPX
CUSIP	--

About the index

According to Wells Fargo Securities, LLC, the Index sponsor, the Wells Fargo Business Development Company Index is a float-adjusted, capitalization-weighted Index that is intended to measure the performance of all Business Development Companies (“BDC”) that are listed on the New York Stock Exchange (“NYSE AMEX”) or NASDAQ and satisfy specified market capitalization and other eligibility requirements. To qualify as a BDC, the company must be registered with the Securities and Exchange Commission (“SEC”) and have elected to be regulated as a BDC under the Investment Company Act of 1940 (“1940 Act”). The Index was created in January 2011 and has no performance history prior to that date.

Index Historical Returns

Name	1 Month	3 Months	6 Months	1 Year	3 Years
Wells Fargo Business Development Company Index Total Return	2.85%	3.62%	7.61%	17.72%	19.61%

Source: UBS Investment Bank, publicly available data.

Historical information presented is furnished as a matter of information only. Historical performance of the Index is not an indication of future performance. Future performance of the Index may differ significantly from historical performance, either positively or negatively.

*Historical Returns for the ETN are calculated on the basis of intraday indicative value.

Index Historical Returns presented are based on intraday levels.

The ETRACS ETNs are subject to investor fees. As a result, the return on the ETNs will always be lower than the total return on a direct investment in the Index or the Index constituents.

Constituent Weightings

Name	Ticker symbol	% Weight
Fs Kkr Capital Corp	FSK	10.55
Ares Capital Corp	ARCC	9.88
Main Street Capital Corp	MAIN	9.24
Prospect Capital Corp	PSEC	7.03
Hercules Technology Growth Capital Inc	HTGC	5.13
TPG Specialty Lending Inc	TSLX	4.91
Apollo Investment Corp	AINV	4.13
New Mountain Finance Corp	NMFC	3.92
Golub Capital BDC Inc	GBDC	3.87
Bain Capital Specialty Finance Inc	BCSF	3.01
TCP Capital Corp	TCPC	3.00
Solar Capital Ltd	SLRC	2.95
Tcg Bdc Inc	CGBD	2.71
Goldman Sachs Bdc Closed End Fund	GSBD	2.63
Fifth Street Finance Corp	OCSL	2.25
PennantPark Floating Rate Capital Ltd	PFLT	1.70
Gladstone Investment Corp	GAIN	1.68
Newtek Business Services Corp	NEWT	1.53
PennantPark Investment Corp	PNNT	1.47
Fidus Investment Corp	FDUS	1.33
Capital Southwest Corp	CSWC	1.31
Barings Bdc Inc	BBDC	1.30
BlackRock Kelso Capital Corp	BKCC	1.26
Triplepoint Venture Growth BDC Corp	TPVG	1.24
Gladstone Capital Corp	GLAD	1.06
Stellus Capital Investment Corp	SCM	0.91
Solar Senior Capital Ltd	SUNS	0.90
Qxford Square Capital Corp	OXSQ	0.85
Monroe Capital Corp	MRCC	0.85
Owl Rock Capital Corporation Com	ORCC	0.74
Fifth Street Senior Floating Rate Corp	OCSI	0.69
THL Credit Inc	TCRD	0.66
WhiteHorse Finance Inc	WHF	0.61
Saratoga Investment Corp	SAR	0.58
Horizon Technology Finance Corp	HRZN	0.57
Sutter Rock Capital Corp	SSSS	0.47
MVC Capital Inc	MVC	0.46
Capitala Finance Corp	CPTA	0.45
Medley Capital Corp	MCC	0.43
OFS Capital Corp	OFS	0.42
Alcentra Capital Corp	ABDC	0.41
Garrison Capital Inc.	GARS	0.29
Portman Ridge Finance Corp	PTMN	0.25
Great Elm Capital Corp	GECC	0.22
Investcorp Credit Management Bdc Inc	ICMB	0.18

Source: Wells Fargo, as of December 10, 2019.

Constituent Weightings

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 applicable prospectus, pricing or product supplement, dated as of various dates, and the prospectus dated April 29, 2016 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 offering document for each ETRACS may be obtained by clicking on the ticker symbol of each ETRACS identified above or as otherwise indicated. You may also get 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.

Disclaimer Business continuity (pdf)

Important legal and regulatory information:

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