Industry description
The investment seeks to provide investors with returns that match the price return of the SPDR® S&P 500® ETF Trust, up to the upside cap of 15.15% while providing a buffer against SPDR® S&P 500® ETF Trust losses of between 5% and 35% over the period from May 1, 2024 to April 30, 2025.
The fund invests at least 80% of its net assets in FLexible EXchange® Options ("FLEX Options") that reference the SPDR® S&P 500® ETF Trust (the “underlying ETF”). FLEX Options are exchange-traded options contracts with uniquely customizable terms. It is non-diversified.