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The MicroSectors FANG+ 3× Leveraged Exchange Traded Notes due February 17, 2045 aim to provide triple (3×) leveraged exposure to the gross total return version of the NYSE FANG+ Index. The Index is equally weighted among ten highly liquid growth stocks in the technology, media & communications, and consumer discretionary sectors, reflecting performance of leading tech and internet/media companies with quarterly rebalancing.
These ETNs are senior, unsecured debt obligations issued by the Bank of Montreal, meaning they expose investors to the credit risk of the issuer. Leverage is reset daily, so the return over periods longer than one day may diverge significantly from simply three times the index's point-to-point return due to compounding effects.
The structure is exchange-traded notes offered under the MicroSectors brand, produced by REX Shares, with prospectus and pricing supplements filed with the U.S. Securities and Exchange Commission. The maturity date is February 17, 2045.
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This share class is accumulating: income is reinvested, and no cash dividends are paid.
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