UBS Investment Bank has launched the ETRACS Monthly Pay 2x Leveraged MSCI US REIT Index exchange traded note (ETN) on the NYSE Arca.
The new ETN, which trade under the ticker LRET, is linked to the monthly compounded 2x leveraged performance of the MSCI US REIT Index, plus significant income potential in the form of a variable monthly coupon linked to 2x the cash distributions, if any, on the Index constituents.
LRET’s leverage is reset monthly, not daily.
"We are pleased to add another innovative product to our suite of ETNs," says Christopher Yeagley, Head of ETRACS. "We expect LRET to provide significant income potential."