Name Changes Ahead For 2 UBS ETNs
UBS announced today that two of its newly minted exchange traded notes (ETNs) will begin trading under new names on November 21, 2011.
The UBS ETRACS Internet IPO ETN due July 19, 2041 (NYSE: EIPO) will become the ETRACS Next Generation Internet ETN due July 19, 2041 while the underlying index name will change from the UBS Internet IPO Index to the UBS UBS Next Generation Internet Index.
The Monthly 2xLeveraged ETRACS Internet IPO ETRACS Internet IPO ETN due July 19, 2041 (NYSE: EIPL) will change to the ETRACS Monthly 2x Leveraged Next Generation Internet ETN due July 19, 2041. EIPL tracks the same index as EIPO.
Both ETFs will retain their current tickers and CUSIPs. EIPO debuted in July. The ETN has an expense ratio of 0.65%. Russia's Yandex (Nasdaq: YNDX) and LinkedIn (NYSE: LNKD) combine for almost 21% of the ETN's weight.
EIPL also debuted in July and also has an expense ratio 0.65%.
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