ETRACS Monthly Pay 2xLeveraged Closed-End Fund ETN
An intraday "indicative value" is used to measure the intrinsic value of each ETN and is for reference purposes only. Note: The market price (the actual trading price) of ETNs may be different from their indicative value. ETN valuation measureCurrent Indicative Value
- 05/22/2015 | 02:49 pm
- USD 22.36
- Last close USD 22.50
|Primary exchange||NYSE Arca|
|Initial trade date||12/10/2013|
|Annual Tracking Rate||0.50%, accrued on a daily basis|
|Underlying Index||ISE High Income Index|
See 'Key Considerations' above as well as the 'Important legal information specific to ETRACS ETNs' link below for more information.
About the ETN
The ETRACS Monthly Pay 2xLeveraged Closed-End Fund ETN (NYSE: CEFL) (“CEFL” or the “ETN”) is an exchange-traded note linked to the monthly compounded 2x leveraged performance of the ISE High Income™ Index, reduced by the Accrued Fees. CEFL has been approved for listing on the NYSE Arca® exchange (subject to official notice of issuance), is denominated in USD, and pays a variable monthly coupon linked to 2 times the cash distributions, if any, on the Index constituents.
Exchange-traded notes are senior, unsecured, unsubordinated debt securities that provide investors with exposure to the total returns of various market indices, including those linked to stocks, bonds, commodities and/or currencies, less investor fees. ETRACS offers innovative investment products with easy access to markets and strategies that may not be readily available in the existing marketplace.
- Monthly compounded 2x leveraged exposure to the ISE High Income™ Index, an index comprised of a diversified portfolio of 30 income-producing, closed-end funds.
- Significant income potential in the form of a variable monthly coupon linked to 2 times the cash distributions, if any, on the Index constituents.
- Leverage that is reset monthly, not daily.