XVIX

UBS ETRACS Daily Long-Short VIX ETN

The UBS ETRACS Daily Long-Short VIX ETN is linked to the performance of the S&P 500 VIX Futures Term-Structure Index Excess Return (Ticker: SPVXTSER). The Underlying Index is a composite index that measures the return from taking a long 100% position in the S&P 500 VIX Mid-Term Futures™ Index Excess Return (the “Mid-Term Index”) with a short, or inverse, 50% position in the S&P 500 VIX Short-Term Futures™ Index Excess Return (the “Short-Term Index” together with the Mid-Term Index, the “Sub-Indices”), with daily rebalancing of the long and short positions. The performance of the Underlying Index is reduced by the Fee Amount of 0.85% per annum, and increased by the Financing Payment.
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