m+ funds | Buffer 20 Fund
The trust will seek a percentage return per unit on the Maturity Date equal to any percentage increase in the value of the SPDR® S&P 500® ETF Trust (the "Reference Asset") relative to the Initial Reference Value, up to a maximum return of 16.40% while also providing protection against the first 20% decrease (the "Buffer") in the value of the Reference Asset.
m+ funds | Buffer 20 FundSeries 1-12
Upside* 1-to-1 of SPY up toCapped Return: 16.40% Downside* Buffer: 20% Protection against price decreases to -20%
Maturity Date06.30.2022 Reference AssetSPDR® S&P 500® ETF (SPY) SymbolMPLSPX Fee-based CUSIP55247F152 Standard CUSIP55247F145
Inception Date07.28.2020 Initial Reference Value$323.22 Maximum Amount Per Unit*$11.64 Inception Value per Unit$10.00 Maximum Loss Per Unit*$7.80
Remaining m+ fund Capped Return:
For each day, the maximum potential return available to unitholders based on the Capped Return of the m+ fund, calculated as the percentage increase in the m+ fund value from its NAV that would generate the Capped Return at Maturity, not including any deduction due to fees and expenses
ETF Return to Reach Fund Capped Return:
For each day, the ETF return needed for the m+ fund to reach the Capped Return at Maturity, calculated as the percentage increase in the ETF value from its closing value that would generate the Capped Return for the m+ fund at Maturity, if any, not including any deduction due to fees and expenses
ETF Return to Reach Buffer:
For each day, the ETF return needed for the value of the ETF to be at the starting level of the Buffer at Maturity, calculated as the percentage decrease in the ETF value from its closing value that would result in the ETF value being at the starting level of the Buffer protection, if any.
ETF Return to Breach Buffer:
For each day, the ETF return needed for the value of the ETF to be at the ending level of the Buffer at Maturity, calculated as the percentage decrease in the ETF value from its closing value that would result in the ETF value being at the ending level of the Buffer protection, if any.
The hypothetical results are illustrative only and are not actual results. You should not place undue reliance on hypothetical illustrations or results. The above does not account for dividends on the ETF or m+ Buffered Fund ongoing fees and expenses. The above graph is intended to illustrate potential hypothetical outcomes and is therefore based on transaction terms and hypothetical ETF returns. It does not reflect any actual past performance and, therefore, does not reflect returns that an investor could have received. Investors purchasing units are subject to upfront sales charges and organization costs, which vary per fund depend on the type of account purchasing the units, all as described in the corresponding prospectus. Potential investors should refer to the prospectus, which details fees and expenses, as well as other important matters. Investors in m+ funds do not receive dividends.
The economic terms are indicative only and will vary based on the market conditions at the time of the initial deposit of such Series. The structure of these securities may be complex, and the suitability of an investment should be considered based on your investment objective, risk tolerance, financial goals and time horizons.
This UIT is a buy and hold strategy and investors should consider their ability to hold the trust until maturity. There may be tax consequences unless units are purchased in an IRA or other qualified plan.
Gain or loss on the units is subject to a capped return and partial downside protection. If the value of the Reference Asset increases more than 16.40% over the Initial Reference Value, the return per unit will be capped at 16.40% and their performance will be less than the performance of the Reference Asset. Because the Buffer is designed to protect only against Reference Asset declines relative to the Initial Reference Value over the life of the trust of 20%, unitholders may experience significant losses on their investment and potentially as much as 78% of their investment, if the value of the Reference Asset declines by more than the Buffer. Due to trust fees and expenses, at the Maturity Date the value of the units, and the effect of the Capped Return, will be reduced while the Maximum Loss will be increased.
You may lose a portion (up to 78%) of your investment. The trust does not provide full principal protection and you may not receive the full return of the capital you invest.
The value of the Options does not increase or decrease at the same rate as the Reference Asset. The Options are all European style options, which means that they will be exercisable at the strike price only on the Options Expiration Date.
The value of the Options prior to the Options Expiration Date may vary because of related factors other than the value of the Reference Asset. The trust may experience substantial exposure to losses from the Options.
Unit-holders will not have control, voting rights or rights to receive cash dividends or other distributions or other rights that holders of a direct investment in the Reference Asset or its constituents would have.
The trust might not achieve its objective in certain circumstances. Certain circumstances under which the trust might not achieve its objective are if the trust liquidates Options prior to expiration, due to redemptions or otherwise, if the trust is unable to maintain the proportional relationship based on the number of option contracts of the Options in the trust's portfolio, or because of trust expenses or due to adverse tax law changes affecting treatment of the options.
Tax risk. The trust intends to elect and to qualify each year to be treated as a regulated investment company ("RIC") under Subchapter M of the U.S. Internal Revenue Code of 1986, as amended (the "Code"). As a RIC, the trust will not be subject to U.S. federal income tax on the portion of its net investment income and net capital gain that it distributes to unit-holders, provided that it satisfies certain requirements of the Code. If the trust does not qualify as a RIC for any taxable year and certain relief provisions are not available, the trust's taxable income will be subject to tax at the trust level and to a further tax at the unit-holder level when such income is distributed.