Industry description
The investment seeks to provide investors with returns (before fees and expenses) that match the price return of the SPDR ® S&P 500 ® ETF Trust (the " Underlying ETF "), up to a predetermined upside cap of 14.37% while providing a buffer (before fees and expenses) against the first 15% of Underlying ETF losses, over the period from March 18, 2024 through March 21, 2025.
Under normal market conditions, the fund will invest substantially all of its assets in FLexible EXchange® Options that reference the price performance of the SPDR® S&P 500® ETF Trust. The fund is non-diversified.