Citi is a registered trademark and service mark of Citigroup Inc. or its affiliates and is used and registered throughout the world. The percentage weight of any Constituent at any time is the percentage of the overall Index level represented by that number of units of that Constituent (taking into account the closing level of that Constituent at the time). See Signals The Trend Signal below.

The Funds and their securities offered under this Annual Information Form are, January 2011 Supplement to Characteristics and Risks of Standardized Options The February 1994 version of the booklet entitled Characteristics and Risks of Standardized Options (the Booklet ) is amended, Prospectus June 30, 2016 Share Class Ticker Institutional UTIXX Service TISXX The information contained herein relates to all classes of the Fund s Shares, as listed above, unless otherwise noted. Historical information for the Series 6 Reference Asset illustrated on this website has been provided by the Issuer to potential investors for educational purposes only, to show investors the history of the Reference Asset. Each Portfolio will provide a varying degree of exposure to only the following two indices (each, a Constituent ): Table I Constituents Asset Class Constituent Ticker Underlying Futures Contract Reference Asset Market Sector Equity futures S&P 500 Futures Excess Return Index (the U.S. Equity Futures Constituent ) SPXFP E-mini S&P 500 futures S&P 500 Index U.S. large-cap equities Fixed income futures S&P 10-Year U.S. Treasury Notes Futures Excess Return Index (the U.S. Treasury Futures Constituent ) SPUSTTP 10-Year U.S. Treasury Notes Futures 10-Year U.S. Treasury Notes U.S. 10-year treasuries The U.S. Equity Futures Constituent tracks the performance of a hypothetical investment, rolled quarterly, in the nearest maturity E-mini S&P 500 futures contract, which provides exposure to U.S. largecap equities. Telephone: 920-659-1202, PureFunds ISE Cyber Security ETF (the Fund ) June 18, 2015. The Trend Signal is deemed to be statistically significant when the absolute value of the slope of the line of best fit, when divided by a measure of how widely dispersed are the levels of the U.S. Equity Futures Constituent (called standard error), is greater than or equal to T-Critical. From a historical perspective, a volatility of 15% may not represent an unusually elevated level of volatility. The unit weight of any Constituent is a hypothetical number of units of that Constituent included in the Index. Filed Pursuant to Rule 433 Registration No. hb```f``2a`a` |L@Q@7^uY X With the C2 Gateway Hindsight Series, you can invest knowing that your Starting Level will be the lowest daily closing price (from a choice of indices) on any particular day in the 6 months following the Commencement Date of the Investment. A copy of the PDS can be obtained by contacting C2 Specialist Investments on 02 8098 0300 or contacting your financial adviser. The Index Rules, which are set forth below in Part 5, set forth the specific rules governing the Index. Interpretation 3. Because of this implicit financing cost, the U.S. Equity Futures Constituent will underperform the total return performance of the S&P 500 Index and the U.S. Treasury Futures Constituent will underperform a direct investment in 10-Year U.S. Treasury Notes. Find out more about C2 Gateway Hindsight Series. Description of the Index and Methodology 3. In this example, 50% of the Index would be hypothetically allocated to cash and would accrue no interest or other return. Adjustment Event means, in respect of a Constituent, the occurrence of any of the following events: a Constituent Index Cancellation, a Constituent Index Modification or a Constituent Licensing Event. 6, 8 Hypothetical U.S. Equity Futures Constituent Index Levels I n d e x L e v e l Index Business Day The Index attempts to reduce the potential for reliance on meaningless Trend Signals by disregarding any Trend Signal that fails to meet a test of statistical significance. HSBC Bank USA, National Association. Please update your browser to continue visiting this website. $JW|TBC}n>3/dIOgd)yZx)_\)?Uq{2W*I[WBX/jZz:@&;Y+ pX1gjPe?ud8mjMO7^ LP. International Swaps and Derivatives Association, Inc. Disclosure Annex for Foreign Exchange Transactions, US GOVERNMENT BOND FUTURES ROLLING STRATEGY INDEX METHODOLOGY JULY 25, 2014, C H A R A C T E R I S T I C S A N D R I S K S O F S T A N D A R D I Z E D O P T I O N S. As a result, the performance of the U.S. Treasury Futures Constituent may be significantly different than it would be if it were instead based solely on the on-the-run 10-Year U.S. Treasury Note (i.e., the most recently issued U.S. Treasury note with an original maturity of 10 years). You can only find the FV of multiple cash flows if the payments occur with the same regularity. Realized volatility is not the same as implied volatility, which is an estimation of future volatility and may better reflect market expectations. Instead of investing $100,000 directly into Citi Radar 5 Excess Return Index for a $12,000 cash outlay, you will get $100,000 of exposure to the Index for the next 4 years with the benefit of the Hindsight Feature and also knowing that the maximum risk is $12,000 (before any tax deductions) thanks to the limited recourse nature of the loan. 2 0 obj any financial instrument linked to the Index. The Index will have significant exposure to the U.S. Treasury Futures Constituent, which has limited return potential and significant downside potential, particularly in times of rising interest rates. May 31, 2016 SUMMARY PROSPECTUS SDIT Short-Duration Government Fund (TCSGX) Class A Before you invest, you may want to review the Fund s Prospectus, which contains information about the Fund and its risks. endstream endobj 44 0 obj <>stream Yes, capped at 4.5% in the first 3 years, uncapped Final Coupon at Maturity, $6,000 cash outlay (provides a $50,000 Limited Recourse Loan for 4 years), $15,000 cash outlay (provides a $50,000 Limited Recourse Loan for 5 years), https://investmentstrategies.citi.com/indice/CIISRAD5/12/2, https://au.spindices.com/indices/equity/sp-asx-200, https://us.spindices.com/indices/equity/sp-500, PR 2020/2Income tax: taxation consequences of investing in C2 GatewayDeferred Purchase Agreement. This documentary-style series follows investigative journalists as they uncover the truth, Singapore Home Prices Continue to Climb, But Market May Finally Cool, Japans Inflation Picks Up Speed to Keep Pressure on BOJ, Korean Hedge Fund Buys Tech Stocks Betting Worst Over for Market, A 79-Year-Old Tech Pioneer Aims for His Third Startup IPO, Altice USA Considers Selling Suddenlink for Up to $20 Billion, Sri Lankan Army Clears Protest Site Before Cabinet Sworn In, Russia Rises Alongside China in Latest Japan Threat Assessment, Worlds Frothiest Housing MarketCools in Global Warning Signal, Ex-Coinbase Manager Arrested in US Crypto Insider-Trading Case, Disney Is in Talks With the BBC to Stream Doctor Who Series, String Quartet Brings Music to Inmates in Mississippi Prison, Struggling to StayCool? Consequences of Disrupted Days or Non-Scheduled Trading Days Daily Index Calculation. This section describes certain events and circumstances and the consequences of those events and circumstances that may affect a Constituent and/or the calculation of the Index. You should consider obtaining professional advice as to whether this financial product suits your objectives, financial situation or needs before investing. If there is no Change in Market Regime by comparison with the immediately preceding Index Business Day, then no Selection Date arises and there is no rebalancing of the Index.

This information does not constitute personal advice and has been prepared without taking into account your objectives, financial situation or needs. Over the following 6 months the Reference Asset fell, and the Lowest Closing Price was 201.13 on 26 March 2018. You should consider the Term Sheet in the Master PDS before deciding whether to invest in Units in C2 Gateway Series 6 & 7 - Hindsight. For example, an increase in market interest rates is expected to affect the performance of U.S. Treasury notes with a remaining maturity of 6.5 years differently than the performance of U.S. Treasury notes with a remaining maturity of 10 years. 11, 13 After performing the above adjustment with respect to any Rebalancing Constituent (if applicable), if any scheduled Rebalancing Date is a Disrupted Day for one or more Rebalancing Constituent, then the rebalancing will be effected for each Rebalancing Constituent that is not affected by a non-scheduled Trading Day on the originally scheduled Rebalancing Date but will not be effected on the originally scheduled Rebalancing Date for any Rebalancing Constituent that is so affected (each, an Affected Rebalancing Constituent ), and instead the Rebalancing Date for each Affected Rebalancing Constituent will be postponed to the next succeeding Scheduled Trading Day for such Affected Rebalancing Constituent that is not a Disrupted Day for such Affected Rebalancing Constituent; provided that such Rebalancing Date will not be postponed past the fifth Scheduled Trading Day for such Affected Rebalancing Constituent following the scheduled Rebalancing Date and, if such fifth Scheduled Trading Day is a Disrupted Day for such Affected Rebalancing Constituent, then the Index Calculation Agent may (a) publish its good faith estimate of the Index Level for such Index Business Day (notwithstanding the occurrence of a Disrupted Day), using its good faith estimate of the value of the Constituent(s) affected by the occurrence of a Disrupted Day. 333-178081, Pricing Supplement No. A, April 18, 2016 Global X S&P 500 Catholic Values ETF NASDAQ: CATH 2016 Summary Prospectus Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund. daily basis, the Index seeks to determine whether the, determination, the Index will allocate exposure to ETFs. Data for all charts, graphs and tables are as of 1 April 2020. As a futures-based index, each Constituent is expected to reflect not only the performance of the corresponding Reference Asset underlying the relevant futures contract (as indicated in Table I above), but also the implicit cost of a financed position in that Reference Asset. We refer to any U.S. Treasury notes with a remaining maturity of at least 6.5 years and an original maturity not exceeding 10 years as 10-Year U.S. Treasury Notes, but it is important to note that the remaining maturity of the U.S. Treasury Notes underlying the 10-Year U.S. Treasury Note futures contract may be as short as 6.5 years. 1,134 Registration Statement No. endobj Although U.S. Treasury notes themselves are generally viewed as safe assets, the U.S. Treasury Futures Constituent tracks the value of a futures contract on 10-Year U.S. Treasury notes, which may be subject to significant fluctuations and declines. The duration of the portfolio is 9.52. Introducing the potential for equity powered return with principal protection, How To Invest In American Funds Insurance Series Portfolio Series, Brown Advisory Strategic Bond Fund Class/Ticker: Institutional Shares / (Not Available for Sale), Rate Builder CDs with 5 and 7 Year Maturities, Federated Total Return Government Bond Fund, INSIGHTS. The Index will be governed by and calculated in accordance with the mathematical and other terms set forth in the Index Rules, and not this description of the Index. Financial Reports May 31, 2015, Atlas Capital Group, LLC. The Reference Asset has been live since 20 February 2019. There is a time lag inherent in calculating the trend of the U.S. Equity Futures Constituent over a Trend Measurement Period consisting of 21 Index Business Days. **more info at https://au.spindices.com/indices/equity/sp-asx-200 and https://us.spindices.com/indices/equity/sp-500. 0 As such, and so the Lowest Closing Price was 202.57 on 24 December 2018.

Your return (including any Coupons) is affected by the performance of the Reference Asset(s) for each Series. Accordingly, the Index will always be significantly allocated, and will frequently be predominantly or even 100% allocated, to the U.S. Treasury Futures Constituent. also be reduced by an index fee of 0.75% per annum. 70 0 obj <>stream The Index launched on June 13, 2016 and was set to a base Index Level of 100 on the Index Base Date of January 12, Index Business Day means each day (1) on which commercial banks and foreign exchange markets are scheduled to be open for general business (including dealings in foreign exchange and foreign exchange currency deposits) in New York City; and (2) which is also a Scheduled Trading Day for each of the Constituents. A Scheduled Trading Day means, with respect to a Constituent, any day on which the relevant Constituent Index Sponsor (or an agent appointed by such Constituent Index Sponsor) is scheduled to publish the level of the relevant Constituent. These risks are described in Part 2 below. Date. Designing a modern portfolio, International Swaps and Derivatives Association, Inc. Disclosure Annex for Equity Derivative Transactions. Generally, the Trend Signal is less likely to be statistically significant when the levels of the U.S. Equity Futures Constituent are more volatile over the Trend Measurement Period; and the Trend Signal is more likely to be statistically significant when the levels of the U.S. Equity Futures Constituent are less volatile over the Trend Measurement Period.

Descriptions of the Constituents PART 5. Terms. Whether your goal is to grow and preserve wealth, save for your children. The Selected Portfolio is a hypothetical investment portfolio. *more info at https://investmentstrategies.citi.com/indice/CIISRAD5/12/2, An equal weighted exposure to the S&P ASX200 Price Return Index (Australian shares) and the S&P 500 Price Return Index (USA Shares)**. Will We Care About It Now? FEZ (NYSE Ticker) Summary Prospectus-January 31, 2016 Before you invest in the SPDR EURO STOXX 50 ETF (the Fund ), you may want to review the Fund's prospectus and statement of additional information, Term Sheet To prospectus dated November 21, 2008, prospectus supplement dated November 21, 2008 and product supplement no. endstream endobj startxref The Index adjusts its exposure to the Selected Portfolio as often as daily in an attempt to maintain a volatility target of 5%, subject to a maximum exposure of 100% and a minimum exposure of 0%. underperform equities in rising equity markets. Touch device users, explore by touch or with swipe gestures. Index Fee An index fee is deducted in the calculation of the Index. Unison Advisors LLC. This measurement of probability is based solely on applying formulas to the levels of the U.S. Equity Futures Constituent over the Trend Measurement Period and does not take into account actual events happening in the real world. In the case of the Index, the relevant data points are the levels of the U.S. Equity Futures Constituent (plotted on the y-axis, and expressed logarithmically) on each of the Index Business Days in the Trend Measurement Period (plotted on the x-axis). | Any investor contemplating an investment linked to, the Index should independently evaluate the merits. d`i3 Adjustments and Modifications Regulatory Events. It is important to understand the following points about the use of a linear regression to measure the trend of the U.S. Equity Futures Constituent and this measure of the statistical significance of that trend measurement: A linear regression is a relatively simple statistical method and, as such, is an imprecise tool for measuring the trend in the level of the U.S. Equity Futures Constituent. Federated. The Issuer may, in its discretion, extend or shorten the Offer Period for the Units without prior notice. To use this website, you must agree to our, Buffered Digital Notes Linked to the S&P 500 Low Volatility High Dividend Index due April 30, 2019, HSBC BANK BERMUDA LIMITED 6 Year Growth Opportunity Certificates of Deposit Linked to S&P 500 Low Volatility Index, 7yr S&P 500 Low Volatility High Dividend Index CD, JPMORGAN CHASE & CO FORM FWP. It is impossible to predict whether the Index will rise or fall In providing the hypothetical back tested and historical Index performance data above, no representation is made that the Index is likely to achieve gains or losses similar to those shown In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular investment. In no event shall Citigroup be liable for any direct, indirect, special or consequential damages in connection with any use of the Citigroup data and information.

David Ingles and Yvonne Man bring you the latest news and analysis to get you ready for the trading day. Joe Biden Has Covid. Overnight on Wall Street is daytime in Asia. Background, Wells Fargo/BlackRock S&P 500 Index CIT COLLECTIVE FUND DISCLOSURE, Product Terms. If the trend changes, it may be some time before the change is reflected in the slope of the line of best fit.

If that line slopes upward, the Index interprets that as an indicator of an upward trend, and if that line slopes downward, the Index interprets that as an indication of a downward trend. %PDF-1.5 % If the Index Calculation Agent determines that such occurrence has a material effect on the Index, then the Index Calculation Agent shall inform the Index Administrator of such determination and either (a) the Index Administrator shall follow procedures established by the index governance committee in order to amend the Index and the Index Rules or (b) the Index Administrator may discontinue and cancel the Index.

endstream endobj 43 0 obj <>stream For more information about the Index and its related risks, see the Index disclosure document available at: End of preview. U.S. Treasury notes are generally viewed as low risk, low reward assets. Please refer to Section 2 "Risks" of the Master PDS and to the Reference Asset "Plain English Risk Factors" guide published by Citi at https://investmentstrategies.citi.com for more information on the Series 6 Reference Asset. The performance of the Index will be based on the performance of the Selected Portfolio, but only to the extent that the Index has exposure to the Selected Portfolio (and minus the index fee). For example, if the 21-Day Realized Volatility of the Selected Portfolio is 10%, then the Index would have 50% exposure to the performance of the 4, 6 Selected Portfolio (the volatility target of 5% divided by the 21-Day Realized Volatility of 10%). If any scheduled Rebalancing Date is not a Scheduled Trading Day for one or more Constituents then included (or scheduled to be included) in the Index (each, a Rebalancing Constituent ), then the Rebalancing Date for each Rebalancing Constituent will be postponed to the next succeeding Index Business Day which is a Scheduled Trading Day for all Rebalancing Constituents. The U.S. Treasury Futures Constituent tracks the performance of a hypothetical investment, rolled quarterly, in the nearest maturity 10-Year U.S. Treasury Note futures contract, which provides exposure to U.S. Treasury notes with a remaining maturity of at least 6.5 years and an original maturity not 1, 3 exceeding 10 years. The Volatility Signal On each Index Business Day, the volatility of the U.S. Equity Futures Constituent (the Volatility Signal ) will be determined based on the 63-Day Realized Volatility of the U.S. Equity Futures Constituent. In order of value, with least valuable assets first. C2 Gateway Series 6 - Hindsight (the Units) are not sponsored, endorsed, sold or promoted by Citigroup, and Citigroup makes no representation regarding the advisability of investing the Units. The Citi Radar 5 Excess Return Index. Table III Signals, Market Regimes and Corresponding Selected Portfolios Signals Market Regime Selected Portfolio Upward Trend Signal and Volatility Signal less than or equal to 15% Stable-Trending Up Equity-Focused Portfolio Upward Trend Signal and Volatility Signal greater than 15% Downward Trend Signal and Volatility Signal less than or equal to 15% Unstable-Trending Up Stable-Trending Down Intermediate Portfolio Downward Trend Signal and Volatility Signal greater than 15% Unstable-Trending Down Treasury Portfolio The Selected Portfolio tracked by the Index will not change until the Signals indicate that another Portfolio should be selected, which we refer to as a Change in Market Regime.

Future returns should be expected to vary and may be negative. This would be the Initial Starting Price for calculations of Coupons. INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION, INC. Series of Shares B, B-6, E, F, F-6, O B, E, F, O O A, B, Wells Fargo/BlackRock Short Term Investment Fund COLLECTIVE FUND DISCLOSURE, GUIDE TO INVESTING IN MARKET LINKED CERTIFICATES OF DEPOSIT, SUMMARY PROSPECTUS SDIT Short-Duration Government Fund (TCSGX) Class A, ANZ PRIVATE INVESTMENT MANAGEMENT SERVICE, Version 15 January 2016 GOLDMAN SACHS EQUITY FACTOR INDEX WORLD NET TOTAL RETURN USD, Spectrum Growth Fund Spectrum Income Fund Spectrum International Fund, DSIP List (Diversified Stock Income Plan), "Determining Party" means the party or parties specified as such in the related. Over any time period when the Index has exposure to a given Selected Portfolio, the performance of the Index will reflect the performance of that Selected Portfolio over that time period, but only to the extent that the Index has exposure to the Selected Portfolio. Future conditions may differ from past conditions. If the Index Calculation Agent determines that either (i) a hypothetical broker dealer (subject to a regulatory regime comparable to the regime applicable to U.S.-registered brokerdealers) would be either (a) required (or there is a reasonable likelihood that, within the next 30 Index 13, 15 Business Days, it would be required) to unwind positions in, or dispose of, any instrument or security on which the value of a Constituent depends; or (b) not permitted (or there is a reasonable likelihood that, within the next 30 Index Business Days, it would not be permitted) to hold, acquire, establish, increase, decrease or dispose of positions in any instrument or security on which the value of a Constituent depends; or (2) the Index Administrator or the Index Calculation Agent is not permitted (or there is a reasonable likelihood that, within the next 30 Index Business Days, it will not be permitted) to continue to sponsor, administer, maintain or calculate, as applicable, an index which contains a particular instrument or security on which the value of a Constituent depends, then a regulatory event (a Regulatory Event ) will be deemed to have occurred. For example, the graph below, like the graph above, illustrates a line of best fit that indicates an upward trend.

Although the volatility-targeting feature may reduce the potential for large Index declines (subject to the time lag described in the previous bullet), it may also significantly reduce the potential for Index gains. In this example, if the Selected Portfolio were to appreciate by 2%, the Index would only appreciate by 1% (which is 50% of 2%), and if the Selected Portfolio were to depreciate by 2%, the Index would only depreciate by 1%, in each case minus the index fee. More information on YouTube cookies and YouTubes privacy policy can be found on www.youtube.com. Additionally, in the event of an Investor requested Issuer. The Index methodology is subject to important risks. Buy-Back or Early Maturity Event, you will not receive a refund of your Prepaid Interest or Fees. An exposure of 100% would mean that the performance of the Index will be equal to the performance of the Selected Portfolio (minus the index fee). Any such estimated value may be subject to correction once the relevant event or circumstances giving rise to such Disrupted Day cease; and/or (b) suspend the calculation, publication and dissemination of the Index and the Index Level until the first succeeding Index Business Day which is not a Disrupted Day for any Constituent. JPERPLMF: J.P. Morgan, PRICING SUPPLEMENT No. The level of T-Critical that has been chosen for the Index corresponds to a statistical concept called a confidence interval at the 95% level. If the Trend Signal observed on any Index Business Day does not meet that test, then a Change in Market Regime will not occur and the Index will not change its Selected Portfolio, even if the Signals would otherwise indicate that a change should occur. The mathematical calculation of the Index is described in the Index Rules. You may also chose to watch the video on our YouTube channel. cz4J^6}h}~nd8vkU}T 0_k6:5*24~^(_^u~\u2Qq"q? See The Index s Signal-based Allocation Methodology Has Significant Limitations in Part 2 below for a further discussion of the limitations of the Trend Signal. A few of the key risk are briefly summarized below: The Index is a trend-following index and is subject to the limitations inherent in all trendfollowing methodologies, including the fact that past performance is no guarantee of future performance. Live market coverage co-anchored from Hong Kong and New York. In the meantime, the Index may have significantly more than 5% volatility and may incur significant losses. Expert Judgment means a standard of judgment which shall consist of (1) acting in good faith and in a commercially reasonable manner; (2) to the extent practicable, reflecting the commercial objective of the Index and market practice; and (3) to the extent practicable, promoting consistency in the exercise of discretions and the making of determinations in respect of both the Index and other indices in respect of which it acts, as relevant, as index administrator or index calculation agent. L L L L L L L L L L L L L L L L L L L L. }_`mGE|)*H]W] rYOtC@ctn&YNFmSK$^Wk2N7 . Risks Associated with the MRP Index Risk Premia Strategy Risks The Citi Equity Multi-Risk Premia Index CHF Series 2 (Bloomberg, FSC Guidance Note No. The following graph illustrates a hypothetical line of best fit that indicates an upward trend. W}EvUYTJTJ(KO-}~\!$qMW571 id%C >@5iO BU[@W1]:"e@^cN1*y>njs1 Dear Fellow Shareholder: Your rights will expire on October 30, 2015 unless, April 30, 2016 SUMMARY PROSPECTUS SIPT VP Conservative Strategy Fund (SVPTX) Class II Before you invest, you may want to review the Fund s Prospectus, which contains information about the Fund and its, SPDR Wells Fargo Preferred Stock ETF Summary Prospectus-October 31, 2015 PSK (NYSE Ticker) Before you invest in the SPDR Wells Fargo Preferred Stock ETF (the Fund ), you may want to review the Fund's prospectus, Financial Statements Independent Auditor's Report To the Trustee of State Street Bank and Trust Company We have audited the accompanying financial statements of State Street Bank and Trust Company ("the, HSBC Global Investment Centre Terms and Conditions These terms are effective for all Global Investment Centre Account customers on and from 6 April 2016. Related Exchange shall mean, in respect of the relevant Constituent, each Trading Venue in respect of futures contracts or option contracts relating to such Constituent, or any successor to such Trading Venue, or any substitute Trading Venue to which trading in such futures contracts or option contracts has temporarily relocated, provided that, in the determination of the Index Calculation Agent, there is comparable liquidity in such futures contracts or option contracts on such temporary substitute Trading Venue as on the original Trading Venue. US GOVERNMENT BOND FUTURES ROLLING STRATEGY INDEX METHODOLOGY JULY 25, 2014 US GOVERNMENT BOND FUTURES ROLLING STRATEGY INDEX Overview The following overview of the US Government Bond Futures Rolling Strategy, SUMMARY PROSPECTUS TRRIX October 1, 2015 T. Rowe Price Retirement Balanced Fund A fund designed for retired investors seeking capital growth and income through investments in a combination of T. Rowe Price, C H A R A C T E R I S T I C S A N D R I S K S O F S T A N D A R D I Z E D O P T I O N S February 1994 1997 through 2008 Supplements included AMERICAN STOCK EXCHANGE, INC. 86 Trinity Place New York, New, To make this website work, we log user data and share it with processors. representing sectors of the U.S. equity market that, environment, as well as to a U.S. Treasury note futures, The Index will allocate exposure to a U.S. Treasury note, futures index and potentially to uninvested cash in an, attempt to maintain a daily volatility target of 5%. Markets never sleep, and neither does Bloomberg. In this example, if the Selected Portfolio were to appreciate by 2%, the Index would only appreciate by 1% (which is 50% of 2%), and if the Selected Portfolio were to depreciate by 2%, the Index would only depreciate by 1%, in each case minus the index fee. 8J w2" 333-202913 and 333-180300-03, Disclosure supplement To disclosure statement dated September 20, 2012 and underlying supplement no.

are a particular type of structured investment issued by third-party banks. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Rebalancing will not be regular (for example, daily or monthly) but instead will depend on the Signals triggering a Change in Market Regime, which will ultimately depend on market conditions. Bloomberg Markets: China Open is the definitive guide to the markets in Hong Kong and on the mainland. The performance of the Index will be reduced by an index fee. Item 1 Cover Page Part 2A & B Form ADV: Firm Brochure Dated: June 1, 2016 BlueSail Advisors LLC 2101 L Street NW Suite 400 Washington, DC 20037 Contact Information: Todd Shears Phone: (202) 467-8352 Email: To: Head of NASDAQ Trading Head of ETF Trading Structured Products Traders Compliance Officers From: William Slattery Director PHLX Listing Qualifications Department Re: Ten PowerShares Exchange-Traded.