Friday, January 29, 2010

UBS (UBSN.VX) Adds Gold (SPGH.P) ETN to Commodity Product Offerings

UBS (UBSN.VX) Adds Gold (SPGH.P) ETN

The investment bank unit of UBS AG (UBSN.VX), UBS Investment Bank, announced on Thursday it has added a new exchange traded note (ETN) to its offerings of commodity products, and is trading under the ticker symbol of SPGH (SPGH.P) on the New York Stock Exchange.

The new ETN tracks the performance of the S&P 500 Gold Hedged index.

Christopher Yeagley, the U.S. chief of equity structured products of UBS, said the ETN is offered in response to their clients who desire more exposure to the U.S. equity market while also protecting themselves against the decline in the value of the U.S. dollar as well as inflation.

ETNs, which are developed to track another market index, are senior, unsecured, unsubordinated debt securities, which are charged a fee to participate in.

UBS has a total of 11 ETNs which track a variety of commodities for its investors.

UBS (UBSN.VX) Adds Gold (SPGH.P) ETN

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