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UBS adds energy ETN with 2x leverage

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UBS Investment Bank has expanded its UBS E-Tracs Exchange Traded Notes platform by adding the UBS E-Tracs 2x Leveraged Long Alerian MLP Infrastructure Index.

It is trading on NYSE Arca and provides leveraged exposure to a portfolio of energy infrastructure master limited partnerships (MLPs) through a single investment.

“We are excited to add yet another ETN to our ever growing stable of UBS E-Tracs products,” says Christopher Yeagley, managing director and US head of equity structured products. “The new UBS E-Tracs 2x Leveraged Long Alerian MLP Infrastructure Index is particularly useful for investors seeking geared exposure to the MLP space and with 2x leverage, the current annual leveraged yield is 12.89 per cent. This is our second ETN with Alerian and we are thrilled to partner with them again.”

A master limited partnership is a publicly traded limited partnership that unites the tax advantages of a partnership with the liquidity of a publicly traded stock. Because the revenues of energy infrastructure MLPs tend to be correlated with the demand for energy commodities rather than the price of energy commodities, MLPs in energy infrastructure industries have relatively consistent, predictable cash flows.

UBS has 13 other existing E-Tracs ETNs, ten of which track the performance of various UBS Bloomberg CMCI indexes, like platinum, silver, gold, livestock and food, one that tracks the total return of the Dow Jones-UBS Commodity Index, one that is linked to the S&P 500 Gold Hedged Index, and one that is linked to the Alerian MLP Infrastructure Index.

UBS E-Tracs are senior unsecured notes issued by UBS and are traded like any other security on NYSE Arca.

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