ETRACS Monthly Pay 2xLeveraged Wells Fargo MLP Ex-Energy ETN Series B
LMLB
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- ETRACS Monthly Pay 2xLeveraged Wells Fargo MLP Ex-Energy ETN Series B (NYSE Arca: LMLB) is an exchange-traded note issued by UBS AG that seeks to provide two times leveraged long exposure to the compounded monthly performance of the Wells Fargo MLP Ex-Energy Index, less investor fees; it features a variable monthly coupon linked to the leveraged distributions of the underlying Master Limited Partnership index constituents, excluding energy sector MLPs, with maturity on October 21, 2049. The ETN, part of UBS's ETRACS branded suite of structured exchange-traded notes, offers investors targeted access to leveraged MLP income strategies focused on diversified sectors such as natural gas pipelines, storage, and processing; it trades on NYSE Arca and is designed for sophisticated investors comfortable with leverage decay, volatility, and full principal-at-risk exposure tied to UBS AG's senior unsecured credit. Launched in 2019 and headquartered in Zurich, Switzerland through UBS AG (London Branch for issuance), the ETN operates primarily in U.S. capital markets with global investor reach; it benchmarks against North American MLP ex-energy assets and continues active trading as of late 2025, with recent UBS declarations of coupon payments across the ETRACS portfolio underscoring ongoing operational stability amid broader ETN market dynamics.