Industry description
The investment seeks to provide investment results that, before taking fees and expenses into account, match the positive price return of the SPDR®S&P 500® ETF Trust ("Underlying ETF") up to a cap of 7.57% (the "Cap"), while protecting against 100% of negative price return of the Underlying ETF (before fees and expenses), for the period from January 1, 2025 through December 31, 2025.
Under normal market conditions, the fund will invest substantially all of its assets in FLexible EXchange Options ("FLEX Options") that reference the price performance of the SPDR® S&P 500® ETF Trust. The fund is non-diversified.