The ETRACS Monthly Pay 2xLeveraged Closed-End Fund ETN (NYSE: CEFL) (“CEFL” or the “ETN”) is an exchange-traded note linked to the monthly compounded 2x leveraged performance of the ISE High Income™ Index, reduced by the Accrued Fees. CEFL has been approved for listing on the NYSE Arca® exchange (subject to official notice of issuance), is denominated in USD, and pays a variable monthly coupon linked to 2 times the cash distributions, if any, on the Index constituents.