List of Hybrid ETNs

Ticker symbol	Name	Indicative value	Change	Leverage	Current Yield (annualized)	Document
/product/detail/index/ussymbol/CEFL CEFL	ETRACS Monthly Pay 2xLeveraged Closed-End Fund ETN	$ 14.09	+0.00%	2x	17.50%**	Pricing Supplement
/product/detail/index/ussymbol/CEFZ CEFZ	ETRACS Monthly Pay 2xLeveraged Closed-End Fund ETN Series B	$ 14.09	+0.00%	2x	--	Pricing Supplement
/product/detail/index/ussymbol/DVHL DVHL	ETRACS Monthly Pay 2xLeveraged Diversified High Income ETN	$ 17.11	+0.04%	2x	14.74%**	Pricing Supplement

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* "Current Yield (annualized)" equals the most recently announced Coupon Amount, multiplied by four (to annualize such coupons), divided by the Current Indicative Value of the ETN, or, if the Current Indicative Value is not available, then the most recent closing Indicative Value, and rounded to two decimal places for ease of analysis. The Current Yield is not indicative of future coupon payments, if any, on the ETN. You are not guaranteed any coupon or distribution amount under the ETN.

** "Current Yield (annualized)" equals the sum of the most recently announced Coupon Amount and the two immediately preceding Coupon Amounts, multiplied by four (to annualize such coupons), divided by the Current Indicative Value of the ETN, or, if the Current Indicative Value is not available, then the most recent closing Indicative Value, and rounded to two decimal places for ease of analysis. The Current Yield is not indicative of future coupon payments, if any, on the ETN. You are not guaranteed any coupon or distribution amount under the ETN.

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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