UBS Reports 1-for-4 Reverse Split of EIPL
UBS AG announced today that it will implement a 1-for-4 reverse split of its ETRACS Monthly 2xLeveraged Next Generation Internet ETN due July 19, 2041 (the “Note”) effective September 12, 2012. The Note trades on the NYSE Arca under the ticker symbol “EIPL”. Pursuant to the terms of the Note and as described in the prospectus supplement relating to the Note, UBS AG has the right (but not the obligation) to initiate such a reverse split if the Current Principal Amount of the Note falls below $10.00 on any Trading Day. As of August 27, 2012 the Current Principal Amount of the Note was $5.9583.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.