UBS AG FI Enhanced Large Cap Growth ETN
FBGX
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- UBS AG FI Enhanced Large Cap Growth ETN (FBGX) is an exchange-traded note issued by UBS AG that provides investors with leveraged exposure to large-cap growth equities in the United States; it delivers a cash payment at maturity or upon early redemption based on 200% of the daily performance of the Russell 1000 Growth Total Return Index, less fees; the ETN features a management expense ratio of 0.85% and trades on NYSE Arca under the ticker FBGX. Launched in June 2014 and headquartered in Zurich, Switzerland, the product targets institutional and retail investors seeking amplified growth strategies within the structured products segment of the exchange-traded notes market; it operates primarily in the U.S. equity markets with no subsidiaries or parent company relationships beyond UBS AG as issuer and co-obligor with UBS Switzerland AG. In a significant operational change, UBS AG capped the maximum outstanding ETNs at 245,000 units in January 2022 to manage supply and liquidity; the ETN matured on June 20, 2024 (adjusted from June 19 due to a non-trading day), with UBS announcing a payment at maturity of $939.5829 per ETN on June 18, 2024, marking the final trading day as June 18 and concluding the product's lifecycle.