ETRACS Silver Shares Covered Call ETN

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
12/31/1969 | 07:00 pm
USD --

Current Spot Price USD 74.60
12/31/1969 | 07:00 pm

Market Data

52-Week High ^[1]	$ 86.36
52-Week Low ^[1]	$ 68.52
Current Daily Volume	2,955

ETN Outstanding	2,300,000
Current Market Cap	--
Volume 25-Day Average	--

The above graph illustrates the historical indicative values of the ETN during the period selected. The indicative value is the approximate intrinsic economic value of the ETN as of a particular time and date. The actual trading price of the ETN may be different from its indicative value. The secondary market trading price of the ETNs may be at, above, or below the indicative value of the ETN. Historical performance of the ETN is not an indication of future performance of the ETN. Future performance of the ETN may differ significantly from its historical performance, either positively or negatively.

Historical Returns

Name	1 Month	3 Months	6 Months	1 Year
ETRACS Silver Shares Covered Call ETN ^[2]	--	--	--	--

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.

[1] 52-Week High and 52-Week Low are based on intraday or market closing prices.
[2] Historical Returns for the ETN are calculated on the basis of intraday indicative values during normal market hours and closing indicative values after market close.
[3] Historical Returns for the ETN Market Price are calculated based on the intraday last traded price during normal market hours and the market closing price after market close.
[4] Index Historical Returns are calculated based on intraday index levels during normal market hours and closing index levels after market close.

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.

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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