The C-Tracks Exchange-Traded Notes Based on the Performance of the Miller/Howard MLP Fundamental IndexTM (NYSE Arca: MLPC) will pay a quarterly coupon of $0.2056 per note on October 2, 2020 to holders of record as of the close of business on October 1, 2020. This coupon reflects the ordinary cash distributions of the MLPs underlying the Miller/Howard MLP Fundamental IndexTM net of fees over this past quarter.
Based on their closing price on September 25, 2020 and the declared quarterly coupon, the annualized indicated yield of the ETN is 13.15%. The annualized indicated yield is equal to the declared quarterly coupon multiplied by four, divided by the closing price of the ETN on September 25, 20201.
The annualized indicated yield is not indicative of future coupon payments, if any, on the ETN. Holders of the ETN are not guaranteed a coupon. Moreover, the annualized indicated yield