EETRACS 2x Leveraged Preferred ETN

PFFL is an exchange-traded note (ETN) issued by UBS that provides 2x leveraged exposure to the Solactive Preferred Stock ETF Index, which tracks an equally weighted portfolio of ETFs holding preferred securities from various U.S. issuers. As an ETN, it is a senior, unsecured, unsubordinated debt security that delivers exposure to the total return of its underlying index, less investor fees. The note was launched in September 2018 and is domiciled in Switzerland, with a maturity date of September 18, 2048. Assets under management are approximately $6.4 million, making it a relatively small product benchmarked to the Solactive Preferred Stock ETF Index with a 0.85% expense ratio.

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1 Exchange-Traded Security