UBS ETRACS 2×Leveraged Long ETRACS Wells Fargo Business Development Company Index ETN Series B
LBDC
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- IPO Date
- Oct 9, 2015
- Similar Companies
- Business
- UBS ETRACS 2×Leveraged Long ETRACS Wells Fargo Business Development Company Index ETN Series B (LBDC) is a leveraged exchange-traded note (ETN) issued by UBS AG that provides 2x daily leveraged exposure to the Wells Fargo Business Development Company Index (now succeeded by the MVIS US Business Development Companies Index); it offers investors amplified returns tied to a basket of U.S. business development companies (BDCs), which are publicly traded firms providing financing to middle-market companies, including senior secured loans, mezzanine debt, and equity investments. The ETN pays quarterly coupons based on index performance and investor fees, with a maturity date of May 24, 2041, and trades on NYSE Arca alongside related non-leveraged and inverse variants like BDCZ and BDCS (now BDCZ Series B). UBS AG, headquartered in Zurich, Switzerland and founded in 1862 through mergers including the 1998 combination of Union Bank of Switzerland and Swiss Bank Corporation, issues LBDC as part of its ETRACS product suite targeting alternative strategies in fixed income, equities, commodities, and leveraged indices. In late 2019, UBS launched a voluntary exchange offer converting the original BDCL 2xLeveraged Long ETRACS into the LBDC Series B structure, extending maturity and aligning with updated index methodologies to enhance liquidity and operational stability. In April 2021, UBS announced the replacement of the original Wells Fargo BDC Index with the MVIS US Business Development Companies Index as successor, reflecting adjustments to better capture liquid BDC market exposure amid evolving industry standards. As of October 2025, UBS continues regular coupon declarations for LBDC and peer ETNs, underscoring ongoing viability with no reported redemptions or delistings, while operating globally across over 50 markets from key hubs in New York, London, and Singapore.