Credit Suisse today announced the launch of its X-Links Monthly Pay 2xLeveraged Alerian MLP Index ETN, which is listed on NYSE Arca under the ticker symbol AMJL and will begin trading this morning.
AMJL provides a monthly compounded, 2x leveraged long exposure to the price return version of the Alerian MLP Index and may pay a variable monthly coupon linked to the net cash distributions, if any, of the Index Constituents. AMJL tracks the Alerian MLP Index, which measures the composite performance of leading energy Master Limited Partnerships (Index Constituents) that represent approximately 85 per cent of the total energy MLP float-adjusted market capitalisation. Alerian, the Index Sponsor, selects the Index Constituents. The Index is calculated using a float-adjusted, capitalisation-weighted methodology and its price return version is disseminated real-time under the ticker symbol "AMZ". The Index was launched on 1 June, 2006 and, therefore, has no performance history prior to that date.
"Energy MLPs continue to be a sought-after asset class for investors seeking yields," says Paul Somma, Head of Exchange Traded Notes at Credit Suisse. "So we are pleased to partner with Alerian, a market leader in the MLP space, to offer a two-times leveraged ETN linked to the Alerian MLP Index."