UBS accelerates 2x leveraged ETNs linked to Dow Jones Select Dividend

By Marisa Wong

Los Angeles, March 24 – UBS Investment Bank announced the mandatory redemption of monthly pay 2x leveraged exchange-traded access securities issued by UBS AG, London Branch linked to the Dow Jones Select Dividend index.

All of the outstanding Etracs Monthly Pay 2xLeveraged Dow Jones Select Dividend Index ETNs due May 22, 2042 (Cusip: 90268G607, NYSE Arca: DVYL) will be mandatorily redeemed on April 1.

The redemption was triggered by the intraday indicative value of the securities on March 23 decreasing by more than 60% in value from the closing indicative value of the securities on the previous monthly valuation date, according to a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.