Industry description
The investment seeks to provide investors with returns of approximately twice any positive price return of the SPDR ® S&P 500 ® ETF Trust, up to a predetermined upside cap of 11.56% while providing a buffer 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.