UBS Investment Bank has launched the ETRACS Monthly Reset 2xLeveraged S&P 500 Total Return ETN (SPLX) on the NYSE Arca.
SPLX is linked to the monthly compounded 2x leveraged performance of the S&P 500 Total Return Index, reduced by investor fees.
As a “total return index”, the index reflects both the price performance of the Index constituents and the reinvestment of dividends on the Index constituents.
“The S&P 500 Total Return Index is widely regarded as the best gauge of large cap US equities and a bellwether for the US economy,” says Paul Somma, senior ETRACS structurer. “SPLX allows investors to get 2x leveraged exposure to this benchmark index by way of a product whose leverage resets monthly and not daily.”
