UBS won’t accelerate ETracs tied to US Small Cap High Dividend index

By Sarah Lizee

Olympia, Wash., March 25 – UBS Investment Bank announced that it will not exercise the acceleration option for its $250 million 2xMonthly Pay Leveraged ETracs due Nov. 10, 2048 linked to the US Small Cap High Dividend index (NYSE: SMHB, Cusip: 90274E166).

The bank said it chose not to exercise the acceleration option following the occurrence of an indicative value optional acceleration trigger, which was a result of the indicative value of the ETracs falling below $2.00 on March 18.

Upon the occurrence of an indicative value optional acceleration trigger, UBS has the option, but is not required, to accelerate and redeem the securities.

UBS is a financial services company based in Zurich.

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