DD Support Board and Research Team

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Part 4: "This year, at least 15 ETNs managed by UBS have been taken off the market after tumbling in value. ETNs run by Citigroup and other firms have suffered significant losses. When troubled funds are taken off the market, investors typically are paid just a fraction of what they initially put in.

“As with any complex financial product, investing in leveraged ETNs carries risk,” UBS said in a written statement. “We provide considerable public disclosure outlining the risks and special features of our exchange-listed ETNs to enable investors to make informed investment decisions.”

Wells Fargo declined to comment.

Over the past decade, Wall Street packaged and sold many niche products engineered to get investors higher income than more plain-vanilla offerings. Their popularity soared during the bull market. UBS, Citigroup, JPMorgan Chase & Co., French bank Société Générale and Germany’s Landesbank Hessen-Thuringen Girozentrale all offered individual investors ways to tap into structured products.

UBS created Mr. Mark’s ETN in 2012, as mortgage-investment firms recovered from the financial crisis." [end of part 4]