Credit Suisse, begun trading the Credit Suisse X-Links Monthly Pay 2xLeveraged Alerian MLP Index ETN (Nyse Arca: AMJL) on Wednesday, May 18, 2016.
|Symbol: AMJL||Exchange: NYSE ARCA|
|Name: Credit Suisse X-Links Monthly Pay 2xLeveraged Alerian MLP Index ETN||Net Expense Ratio: 0.85%|
The Credit Suisse X-Links Monthly Pay 2xLeveraged Alerian MLP Index ETN aims to provide a monthly compounded 2x leveraged long exposure to the price return version of the Alerian MLP Index (reduced by the Accrued Fees).
The ETNs may pay a monthly Coupon Amount during their term linked to two times the net cash dividends or distributions, if any, on the Index Constituents (the initial Coupon Payment Date will be June 21, 2016).
The ETNs are senior unsecured medium-term obligations of Credit Suisse AG, acting through our Nassau Branch, and mature on May 16, 2036.
The ETNs are subject to automatic acceleration and mandatory redemption if their Closing Indicative Value on any Trading Day equals $5.00 or less.
The Alerian MLP Index measures the performance of leading energy Master Limited Partnerships, or MLPs, as selected and ranked by GKD Index Partners LLC (Index Sponsor) in accordance with the Index methodology.
The Index Constituents represent approximately 85% of total energy MLP float-adjusted market capitalization. Each Index Constituent must, among other requirements, be a publicly traded partnership or limited liability company, earn the majority of its cash flow from qualifying activities involving energy commodities, have a median daily trading volume on all
US exchanges of at least $2.5 million for the 6-month period preceding the data analysis date and have an adjusted market capitalization in the top 95% of total energy MLP float-adjusted market capitalization.
Index rebalancings fall into 2 groups: quarterly rebalancings and special rebalancings. Quarterly rebalancings occur on the third Friday of each March, June, September and December, and are effective at the open of the next trading day. In the event that the major U.S. exchanges are closed on the third Friday of March, June, September or December, the rebalancing will take place after market close on the immediately preceding trading day.
As of May 12, 2016, the Index included 43 MLPs. The Index is calculated by S&P using a float-adjusted, capitalization-weighted methodology.
Index Top Holdings (05/12/16):
|EPD||Enterprise Product Partners LP||19.80%|
|ETP||Energy Transfer Partners LP||9.71%|
|MMP||Magellan Midstream Partners||9.45%|
|BPL||Buckeye Partners LP||5.36%|
|PAA||Plains All American Pipeline LP||5.25%|
|WPZ||Williams Partners LP||4.06%|
|OKS||ONEOK Partners LP||3.41%|
|SXL||Sunoco Logistics Partners LP||3.35%|
|EEP||Enbridge Energy Partners LP||2.68%|
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Category: Equities> Regions> USA> US Income> MLPs