UBS is to redeem all of the outstanding securities of the UBS AG Exchange Traded Access Securities (ETRACS) Oil Futures Contango ETN and Natural Gas Futures Contango ETN.
Both ETNs were originally due on 14 June 2041.
With respect to each series of affected securities, the call settlement amount will be the current principal amount of such series as of 17 January 2014. UBS will pay investors holding affected securities as of 5:00 pm, New York time, on 23 January, the applicable call settlement amount.
International Securities Exchange (ISE) intends to discontinue the calculation and publication of the levels of the ETNs underlying indexes – the ISE Oil Futures Spread Index and the ISE Natural Gas Futures Spread Index on 24 January.
