DALLAS, Texas, Jan. 26, 2015 /PRNewswire/ -- Swank Capital, LLC and Cushing® Asset Management, LP announce an interim change to The Cushing® 30 MLP Index (the "Index"). Index constituents Williams Partners L.P. (NYSE: WPZ) and Access Midstream Partners, L.P. (NYSE: ACMP) previously entered a merger agreement between the two firms wherein WPZ would become a subsidiary of ACMP (the "Merger"). Pursuant to the terms of the merger agreement, following the Merger closing after the market opens on February 2, 2015 (the "Distribution Date"), each publicly held WPZ Common Unit will be exchanged for 0.86672 ACMP Common Units, with ACMP continuing as the surviving entity following the Merger.
Following the closing of the Merger, ACMP anticipates changing its name to Williams Partners L.P. and changing the ticker symbol for ACMP Common Units to "WPZ".
Accordingly, barring any unforeseen events, WPZ will be removed from the Index and replaced with The Williams Companies, Inc., (NYSE: WMB) after the markets close on February 2, 2015. The changes will be effective on February 3, 2015.
Upon the aforementioned name change being made effective, which may be as early as February 3, 2015, the Index will reflect Williams Partners, L.P. with ticker symbol "WPZ" (changed from Access Midstream Partners, L.P. and ticker ACMP) as a constituent.
The remaining constituents of the Index will be unaffected.
ABOUT THE CUSHING® MLP INDEX
The Cushing® 30 MLP Index tracks the performance of 30 publicly traded MLP securities that hold midstream energy infrastructure assets in North America, chosen according to a proprietary fundamental scoring model developed by Cushing® Asset Management, LP to rank MLPs for potential inclusion in the Index. The Index price level is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker "MLPX".
ABOUT SWANK CAPITAL AND CUSHING® ASSET MANAGEMENT
Cushing® Asset Management, LP ("Cushing"), a subsidiary of Swank Capital, LLC, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts which invest primarily in securities of MLPs and other natural resource companies.
Cushing is also dedicated to serving the needs of MLP and energy income investors by sponsoring a variety of industry benchmarks, including The Cushing® MLP Market Cap Index (Bloomberg Ticker: CMCI), The Cushing® MLP High Income Index (Bloomberg Ticker: MLPY) and The Cushing® Upstream Energy Income Index (Bloomberg Ticker: CRTY). For more information, please visit www.swankcapital.com/the-cushing-indices.
The Cushing® 30 MLP Index (the "Index") is the exclusive property of Cushing Asset Management, LP, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices") to calculate and maintain the Index. S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("SPFS"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and, these trademarks have been licensed to S&P Dow Jones Indices. "Calculated by S&P Dow Jones Indices" and its related stylized mark(s) have been licensed for use by Cushing Asset Management, LP. Neither S&P Dow Jones Indices, SPFS, Dow Jones nor any of their affiliates sponsor and promote the Index and none shall be liable for any errors or omissions in calculating the Index.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/swank-capital-and-cushing-asset-management-announce-constituent-changes-to-the-cushing-30-mlp-index-300025063.html
SOURCE Cushing Asset Management, LP and Swank Capital, LLC