ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B
HDLB
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- ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB) is a senior, unsecured, unsubordinated exchange-traded note (ETN) issued by UBS AG that provides 2 times leveraged long exposure to the compounded monthly performance of the Solactive US High Dividend Low Volatility Index, less financing costs, tracking fees and expenses. The ETN, which trades on NYSE Arca under the ticker HDLB (CUSIP 90269A484), may pay a variable monthly coupon linked to the leveraged cash distributions of the underlying index constituents comprising approximately 40 high-dividend, low-volatility stocks selected from the 1,000 largest U.S. companies by market capitalization and liquidity; it features an annual tracking fee rate of 0.85%, an annual financing fee rate based on 3m CME Term SOFR plus adjustments, a maturity date of October 21, 2049, and an initial trade date of October 24, 2019. ETRACS ETNs, the brand under which HDLB is offered, provide investors with access to innovative strategies tracking total returns of market indices linked to equities, bonds, commodities and currencies. The issuer, UBS AG, a subsidiary of UBS Group AG (founded in 1998 through the merger of Union Bank of Switzerland and Swiss Bank Corporation and headquartered in Zurich and Basel, Switzerland), operates globally with a focus on wealth management, asset management, investment banking and universal banking services across more than 50 countries. In recent developments, UBS assumed three outstanding Credit Suisse ETNs and rebranded them as ETRACS products as of May 2024 following the acquisition of Credit Suisse, while continuing to declare monthly coupon payments on HDLB and managing redemptions of select legacy ETNs such as the ETRACS Monthly Pay 2xLeveraged Dow Jones Select Dividend Index ETN; no new product launches or partnerships specific to HDLB were reported in 2024-2025, though UBS expanded its ETRACS lineup with leveraged ETNs tracking proprietary indices in prior years.