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UBS Adds To ETN Platform

Harriet Davies 1 February 2010

UBS Adds To ETN Platform

UBS Investment Bank has expanded its UBS E-TRACS Exchange Traded Notes platform by adding a new exchange traded note (ETN) linked to the S&P 500 Gold Hedged Index.

The UBS E-TRACS S&P 500 Gold Hedged ETN is now trading on NYSE Arca and provides exposure to the S&P 500, using gold as a hedge against declines in the value of the US dollar. It aims to deliver real returns of the S&P 500.

“Recent investor concerns about potential global inflation have led to an increased interest in gold-related products,” said Christopher Yeagley, managing director and US head of equity structured products.

UBS has 11 other existing E-TRACS ETNs, its range of senior unsecured notes issued by UBS AG, ten of which track the performance of various UBS Bloomberg CMCI indexes such as those based on platinum, silver, gold, livestock and food, and one that tracks the total return of the Dow Jones-UBS Commodity Index.

 

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