|
UBS ETRACS Monthly Pay 2xLeveraged Closed-End Fund ETN
Ticker Symbol: CEFL* CUSIP: 90270L842 Exchange: NYSEA
* NOTE: This security is no longer trading as of 3/18/2020
Company's Online Profile
BUSINESS: The UBS ETRACS Monthly Pay 2xLeveraged Closed-End Fund ETN is an Exchange Traded Note linked to the monthly compounded 2x leveraged performance of the ISE High Income™ Index, reduced by the Accrued Fees. CEFL is denominated in USD, and pays a variable monthly coupon linked to 2 times the cash distributions, if any, on the Index constituents. The ISE High Income™ Index measures the performance of 30 U.S. closed-end funds, as selected and ranked by the Index sponsor in accordance with the Index methodology. To be eligible for inclusion in the Index, a fund must be domiciled in the U.S., be listed on a U.S. securities exchange and satisfy minimum market capitalization and liquidity requirements. Each eligible fund is ranked in descending order in accordance with a multivariate ranking scheme based on three factors: yield; share price discount from net asset value; and trading liquidity, with the 30 highest-ranking funds included in the Index. The Index constituent weights are determined by a modified linear weighting methodology that results in higher-ranked funds receiving a greater Index weighting than lower-ranked funds. The Index is rebalanced yearly to ensure that Index constituents do not exceed Index target weightings. The Index is a price return index (i.e., the reinvestment of dividends is not reflected in the Index; rather, any cash distributions on the Index constituents are reflected in the variable monthly coupon that may be paid to investors of CEFL). The ETNs should be purchased only by knowledgeable investors who understand the risks of investing in the ETNs. For further detailed information on this speculative security, click on the Link to IPO Prospectus given below.
|
Notes: March 19, 2020 -- UBS Investment Bank today announced that all outstanding notes of the ETRACS Monthly Pay 2xLeveraged Closed-End Fund ETN due December 10, 2043 (Ticker: CEFL) (the “Series A Securities“) and the ETRACS Monthly Pay 2xLeveraged Closed-End Fund ETN Series B due December 10, 2043 (Ticker: CEFZ) (the "Series B Securities", and together with the Series A Securities, "the Securities") will be mandatorily redeemed in accordance with the terms of the respective Securities as a result of the occurrence of an Acceleration Upon Minimum Indicative Value on March 18, 2020 (the "Acceleration Date"), triggered as a result of the respective indicative values of the Securities being less than $5.00 on the Acceleration Date.
|
IPO - 12/10/2013 -
Link to IPO Prospectus
Small Cap Stock -
Market Value $244.0 Million
|
Company's Online Information Links
|
| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Foreign Address and Phone Numbers |
| Address: Bahnhofstrasse 45, CH-8098, Zurich, Switzerland |
| Main Phone Number |
+41-44-234-1111 |
| Fax Number |
+41-44-234-3415 |
|
Inv Rel Phone Number
|
+41-44-234-4100 |
| Address and Phone Numbers |
| U.S. Representative |
USB NY |
| Address: 1285 Avenue of the Americas, New York, NY 10019 |
| Main Phone Number |
212-821-3000 |
| Fax Number |
212-713-1381 |
| Investor Contact
|
800-722-7370
|
| Toll Free Phone Number |
877-387-7370 |
Find a problem? Please use our Feedback Page or Email us.
Have you filled out our Guestbook? If not, please do.
|
|
