ETRACS 2xMonthly Pay Leveraged Preferred Stock Index ETN
PFFL
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- 1285 Avenue of the Americas New York NY United States of America 10019
- IPO Date
- Sep 26, 2018
- CIK
- 0001114446
- Website
- etracs.ubs.com
- Similar Companies
- Business
- ETRACS 2xMonthly Pay Leveraged Preferred Stock Index ETN (PFFL), issued by UBS AG, provides investors with two times leveraged long exposure to the compounded monthly performance of the Solactive Preferred Stock ETF Index, less investor fees including an annual tracking fee of 0.85% and financing costs based on 3-month CME Term SOFR plus adjustments; it offers a variable monthly coupon linked to the leveraged cash distributions of the underlying index constituents, which track an equally weighted portfolio of preferred stock exchange-traded funds, subject to the risk that no coupons are paid if index constituents make no distributions. The ETN trades on NYSE Arca under the ticker PFFL with CUSIP 90274E174, features a maturity date of September 25, 2048, and is part of UBS's broader ETRACS suite of exchange-traded notes that deliver exposure to diverse market indices spanning equities, fixed income, commodities, and strategies otherwise less accessible to investors. Launched on September 25, 2018, PFFL targets income-seeking investors focused on U.S. preferred securities within the leveraged fixed income segment, primarily serving retail and institutional clients through principal U.S. exchanges. UBS AG, the Swiss-headquartered global financial services firm founded in 1862 following mergers of predecessor banks, issues PFFL as a senior, unsecured, unsubordinated debt obligation backed by its creditworthiness; the ETN operates without subsidiaries specific to this product but integrates into UBS Investment Bank's structured product offerings distributed via affiliates like UBS Securities LLC. Geographically, PFFL facilitates U.S.-centric exposure via NYSE Arca trading, with investor access primarily in the Americas, though UBS conducts operations worldwide including Europe and Asia. In recent developments, UBS continues regular monthly coupon distributions on PFFL, with the latest declared payment of $0.1368 per share for the record date of December 12, 2025, payable December 22, 2025, at an indicated annualized rate of 13.39%; similar announcements occurred in November 2025 and earlier periods, reflecting ongoing operational stability amid market volatility. No major acquisitions, partnerships, funding rounds, or strategic shifts directly affecting PFFL have been reported in the last 1-2 years, though UBS maintains its ETRACS platform through routine product management, including suspensions or redemptions of other ETNs and periodic rebranding efforts such as assuming Credit Suisse ETNs in 2023. The ETN remains active with assets under management around $6.52 million and a dividend yield exceeding 13% trailing twelve months, underscoring its role in leveraged preferred stock strategies without new launches or reorganizations noted as of late 2025.