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UBS ETRACS launches two ETNs

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UBS Investment Bank has launched tow new exchange traded notes (ETNs) on the NYSE Arca: the ETRACS 2xMonthly Leveraged Alerian MLP Infrastructure Index ETN Series B (MLPQ) and the ETRACS 2xMonthly Leveraged S&P MLP Index ETN Series B (MLPZ).

MLPQ is linked to the monthly compounded 2x leveraged performance of the Alerian MLP Infrastructure Index, while MLPZ is linked to the monthly compounded 2x leveraged performance of the S&P MLP Index.
 
The index, comprised of 22 energy infrastructure MLPs, is a liquid, midstream-focused subset of the Alerian MLP index (AMZ). The index, whose constituents generally earn the majority of their cash flow from the transportation and storage of energy commodities, provides investors with a benchmark for the infrastructure component of this emerging asset class. The index is calculated using a capped, float-adjusted, capitalisation-weighted methodology that results in greater diversification of returns versus a pure market capitalisation-weighted index.
 
The S&P MLP Index provides investors with exposure to certain partnerships that trade on the NYSE and NASDAQ. The index includes both master limited partnerships (MLPs) and publicly traded limited liability companies (LLCs).

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