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Todd Johnson
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Updated: 05.05.13 Hello, My name is Todd Johnson. I’m a family man, sports fiend, health nut, technology buff, long-time stock investor and a very lucky mountain climber – hardly enough to completely distinguish me from many 50 year-old males living in Albuquerque, or anywhere else for that... More
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  • $BDCL Out of Business 0 comments
    Aug 8, 2011 11:55 PM | about stocks: BDCL

    BDCL closed after 6-weeks as an entity.

    2xLeveraged Long Exchange Trade (NYSEARCA:BDCL)

    Robin Heiderscheit 
    Steve, I believe BDCL died today. It had a 30% "execution" provision which I think it hit at the open. I haven't see a press release yet though so maybe I am reading the prospectus wrong but I don't think so.

    Steven Breazzano
    "If, at any time, (1) the indicative value for the Securities on any Index Business Day equals $5.00 or less or (2) the intraday index value on any Index Business Day decreases 30% from the most recent Monthly Initial Closing Level (each such day, an Acceleration Date”), all issued and outstanding Securities will be automatically accelerated and mandatorily redeemed by UBS (even if the indicative value would later exceed $5.00 or the intraday index value would increase from the -30% level on such Acceleration Date or any subsequent Index Business Day) for a cash payment equal to the Acceleration Amount. The “Acceleration Amount” will equal (a) the product of (i) the Current Principal Amount and (ii) the Index Factor as of the last Index Business Day in the Acceleration
    Measurement Period plus (b) the Coupon Amount with respect to the Coupon Valuation Date immediately preceding the Acceleration Date if on the last Index Business Day in the Acceleration Measurement Period the Coupon Ex-Date with respect to such Coupon Amount has not yet occurred, plus (c) the Stub Reference Distribution Amount as of the last Index Business Day in the Acceleration Measurement Period, if any, minus (d) the Accrued Fees as of the last Index Business Day in the Acceleration Measurement Period. If the minimum indicative value or intraday index value threshold has been breached, you will receive on the Acceleration Settlement Date only the Acceleration Amount in respect of your investment in the Securities. The “Acceleration Settlement Date” will be the third Business Day following the last Index Business Day of the Acceleration Measurement Period.

    Stocks: BDCL
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