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UBS Launches ETN With High Monthly Income Potential And Leveraged Exposure To Mortgage REITs

UBS Investment Bank announced that today is the first day of trading on the NYSE Arca for the ETRACS Monthly Pay 2xLeveraged Mortgage REIT ETN (NYSE: MORL). MORL is linked to the monthly compounded 2x leveraged performance of the Market Vectors ® Global Mortgage REITs Index (the “Index”), reduced by investor fees.

MORL Profile
Income Potential

Variable monthly coupon linked to 2 times the cash distributions, if any, of the Index constituents, less any withholding taxes
2x Index Yield* 24.82%
Underlying Index Market Vectors ® Global Mortgage REITs Index
Leverage 2x Leverage with Monthly Reset

* Based on 2 times the Index dividend yield calculated as of September 30, 2012 by Market Vectors. Investors are not guaranteed any coupon or distribution.

MORL Offers Investors:
  • Monthly compounded 2x leveraged exposure to the Market Vectors ® Global Mortgage REITs Index, less fees, making it the only exchange-traded product with leveraged exposure to a mortgage REIT index offered on U.S. exchanges.
  • Significant income potential in the form of a variable monthly coupon linked to 2 times the cash distributions, if any, on the index constituents, less any withholding taxes.
  • Leverage that is reset monthly, not daily.

“This ETN is designed for investors who seek a high yield and are bullish on the mortgage REIT sector,” said Paul Somma, Executive Director and Senior ETRACS Structurer. “MORL offers high monthly income potential and leveraged exposure to a mortgage REIT index, all by way of a single, exchange-traded security.”

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