BOSTON, May 23, 2014 /PRNewswire/ -- Eaton Vance Corp. (NYSE: EV) announced that eUnits 2 Year U.S. Market Participation Trust II: Upside to Cap / Buffered Downside (the "Trust") today made a liquidating cash distribution to the holders of the Trust's units ("Units") of $12.06 per Unit. Consistent with its investment objective, the Trust provided a total return of 20.5% on the initial net asset value of the Units over the two-year term of the Trust.

At its initial public offering on May 29, 2012, the Trust issued 2,000,248 Units at $10 per Unit, raising $20,002,480. Consistent with the terms of the Trust, the Trust terminated its operations and closed its books at the close of business on May 21, 2014 (the "Termination Date"). The Termination Date is the record date for determining the Unit holders entitled to receive liquidating distributions. Trading of the Units on NYSE MKT, under the symbol ETUB, was suspended at 4:00 p.m. ET on May 21, 2014.

eUnits are a type of exchange-traded structured investment developed by Eaton Vance that seek to enable holders to participate in the returns of a specified market benchmark over a defined term, typically up to a cap, while reducing exposure to loss in the event of a decline in the benchmark. Market exposures are provided by combining third-party dealer contracts with a portfolio of term-matched U.S. Treasuries. Different from structured notes, eUnits are registered under the Investment Company Act of 1940 as closed-end investment companies and avoid a concentrated credit exposure to a single corporate issuer. Unlike traditional closed-end funds, eUnits are fixed-term instruments with substantially fixed holdings, and seek to mitigate secondary market trading discounts by facilitating arbitrage versus a disclosed hedge portfolio using a methodology that is the subject of a pending U.S. patent.

The Trust's objective was to provide purchasers of Units in the initial public offering the opportunity to earn returns over the investment life of the Trust based on the price performance of the S&P 500 Composite Stock Price Index® (the "Index"). If the Index appreciated over the investment life of the Trust, the Trust sought to provide a return on the initial net asset value of the Units equal to the percentage change in the price of the Index, up to a maximum return of 20.5 percent. If the Index declined over the investment life of the Trust by 15 percent or less, the Trust sought to return the initial net asset value of the Units. If the Index had declined by more than 15 percent, the Trust sought to outperform the Index price change by 15 percent of initial Index value.  Because the actual appreciation of the Index over the term of the Trust was more than the return cap, the Trust's target return was 20.5 percent.

Eaton Vance is one of the oldest investment management firms in the United States, with a history dating from 1924. Eaton Vance and its affiliates managed $285.9 billion in assets as of April 30, 2014, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of exemplary service, timely innovation and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.

SOURCE Eaton Vance Corp.

Copyright 2014 PR Newswire

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