UBS ETRACS NYSE Pickens Core Midstream Index ETN (PYPE) is an exchange-traded note issued by UBS AG that provides exposure to the NYSE Pickens Core Midstream Index, which tracks midstream energy infrastructure companies involved in the transportation, storage, and processing of oil and natural gas. The ETN offers investors leveraged access to this index through a principal-protected structure with quarterly coupon payments based on index performance; it matures in 2048 and trades on the NYSE Arca exchange under the ticker PYPE. UBS AG, founded in 1862 and headquartered in Zurich, Switzerland, operates globally across investment banking, wealth management, and asset management segments, with significant presence in the United States through its Americas division. The product targets institutional and retail investors seeking yield from energy midstream sectors, including natural gas liquids and power generation infrastructure. No major recent changes, such as delistings, redemptions, or structural modifications, have been reported for PYPE within the last two years; it continues to function as part of UBS's ETRACS suite of commodity and strategy-linked ETNs.