ETRACS Monthly Pay 2xLeveraged US Small Cap High Dividend 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 | 01:00 pm
USD 17.02

Current Spot Price USD 17.03
12/11/2019 | 01:11 pm

Index Profile

Underlying Index	Solactive US Small Cap High Dividend Index
Ticker symbol	SOLSMHD
CUSIP	--

About the index

The Solactive US Small Cap High Dividend Index is intended to track the price movements of stocks which are publicly traded on US stock exchanges and fulfill certain minimum requirements in terms of market capitalization. From this universe, the stocks with high Forward Looking Distribution Yield .
The Index was created on January 26, 2015, and therefore, has no performance history prior to that date.

Index Historical Returns

Name	1 Month	3 Months	6 Months	1 Year	3 Years
Solactive US Small Cap High Dividend Index	-0.54%	-0.60%	0.15%	-9.89%	-24.54%

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
Signet Jewelers Ltd	SIG	6.95
Chemours Co	CC	5.46
Tanger Factory Outlet Center	SKT	4.52
B&g Foods Inc	BGS	3.21
Meredith Corp	MDP	2.99
Invesco Mortgage Capital Inc	IVR	2.95
Amc Entertainment Holdings Inc	AMC	2.80
New York Mortgage Trust Inc	NYMT	2.74
Pennymac Portgage Investment	PMT	2.68
Pattern Energy Group Inc	PEGI	2.66
Rlj Lodging Trust	RLJ	2.59
Taubman Centers Inc	TCO	2.26
Apollo Commercial Real Estat	ARI	2.12
Redwood Trust Inc	RWT	2.08
Buckle Inc/the	BKE	2.03
Uniti Group Inc	UNIT	1.92
Waddell & Reed Financial Inc	WDR	1.81
Moelis & Co	MC	1.79
Colony Financial Inc	CLNY	1.67
Fs Kkr Capital Corp	FSK	1.54
Arbor Realty Trust Inc	ABR	1.54
ARMOUR Residential REIT Inc	ARR	1.52
Wp Glimcher Inc	WPG	1.44
Global Net Lease Inc	GNL	1.42
Senior Housing Properties Trust	SNH	1.35
Artisan Partners Asset Management Inc	APAM	1.31
Chicos Fas Inc	CHS	1.31
Gannett Co	GCI	1.29
Penn Real Estate Invest Tst	PEI	1.16
Prospect Capital Corp	PSEC	1.15
American Finance Trust Inc	AFIN	1.10
Ladder Capital Corp	LADR	1.09
Ramco-gershenson Properties	RPT	0.95
Kite Realty Group Trust	KRG	0.94
Office Properties Income Trust	OPI	0.90
Tivo Corp	TIVO	0.80
Tupperware Brands Corp	TUP	0.78
Hercules Technology Growth Capital Inc	HTGC	0.75
Dynex Capital Inc	DX	0.74
Granite Point Mortgage Trust Inc	GPMT	0.74
New Mountain Finance Corp	NMFC	0.72
Hersha Hospitality Trust	HT	0.67
Apollo Investment Corp	AINV	0.65
Sculptor Capital Management Inc	SCU	0.63
Kkr Real Estate Finance Trus	KREF	0.59
Tpg Re Finance Trust Inc	TRTX	0.59
Orchid Island Capital Inc	ORC	0.59
Spartannash Co	SPTN	0.59
Ellington Financial LLC (EFC)	EFC	0.58
Golub Capital BDC Inc	GBDC	0.55
Tcg Bdc Inc	CGBD	0.54
Colony Credit Real Estate Inc - A	CLNC	0.53
TPG Specialty Lending Inc	TSLX	0.53
Chatham Lodging Trust	CLDT	0.52
TCP Capital Corp	TCPC	0.51
Corepoint Lodging Inc	CPLG	0.50
Preferred Apartment Communities Inc	APTS	0.49
Cherry Hill Mortgage Investment Corp	CHMI	0.47
Western Asset Mortgage Capital Corp	WMC	0.42
Triplepoint Venture Growth BDC Corp	TPVG	0.42
Capitol Federal Financial Inc	CFFN	0.42
Jernigan Capital Inc	JCAP	0.41
AG Mortgage Investment Trust Inc	MITT	0.39
Global Medical Reit Inc	GMRE	0.35
Newtek Business Services Corp	NEWT	0.35
Bain Capital Specialty Finance Inc	BCSF	0.34
Ashford Hospitality Trust	AHT	0.34
Brigham Minerals Inc	MNRL	0.33
Whitestone REIT	WSR	0.33
New Senior Investment Group Inc.	SNR	0.32
Anworth Mortgage Asset Corp	ANH	0.31
National Cinemedia Inc	NCMI	0.31
Ares Commercial Real Estate Corp	ACRE	0.31
Arlington Asset Investment Corp	AI	0.29
Gladstone Commercial Corp	GOOD	0.28
Haverty Furniture Cos Inc	HVT	0.28
Goldman Sachs Bdc Closed End Fund	GSBD	0.27
Ready Capital Corp	RC	0.27
PennantPark Investment Corp	PNNT	0.26
Plymouth Industrial Reit Inc	PLYM	0.25
BlackRock Kelso Capital Corp	BKCC	0.25
Saratoga Investment Corp	SAR	0.24
Great Ajax Corp	AJX	0.24
PennantPark Floating Rate Capital Ltd	PFLT	0.21
Braemar Hotels & Resorts Inc	BHR	0.21
Fifth Street Finance Corp	OCSL	0.20
Solar Capital Ltd	SLRC	0.20
Fidus Investment Corp	FDUS	0.19
Exantas Capital Corp	XAN	0.19
Capital Southwest Corp	CSWC	0.19
Gladstone Investment Corp	GAIN	0.18
Stellus Capital Investment Corp	SCM	0.18
Falcon Minerals Corp	FLMN	0.16
Advanced Emissions Solutions I	ADES	0.16
Gladstone Capital Corp	GLAD	0.14
Monroe Capital Corp	MRCC	0.13
One Liberty Properties Inc	OLP	0.13
Qxford Square Capital Corp	OXSQ	0.12
Capitala Finance Corp	CPTA	0.12
Ashford Inc	AINC	0.01

Source: Solactive, 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.

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