The Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in FLexible EXchange Options (FLEX Options) that reference the SPDR S&P 500 ETF Trust (the Underlying ETF). FLEX Options are exchange-traded option contracts with uniquely customizable terms. Although guaranteed for settlement by the Options Clearing Corporation (the OCC), FLEX Options are still subject to counterparty risk with the OCC and may be less liquid than more traditional exchange-traded option contracts. Due to the unique mechanics of the Funds strategy, the return an investor can expect to receive from an investment in the Fund has characteristics that are distinct from many other investment vehicles. It is important that an investor understand these characteristics before making an investment in the Fund. In general, an option contract is an agreement between a buyer and seller that gives the purchaser of the option the right to buy or sell a particular asset at a specified future date at an agreed upon price. The reference asset for all of the Funds FLEX Options is the Underlying ETF, an exchange-traded unit investment trust that seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500 Index (the U.S. Equity Index). The Underlying ETF invests in equity securities of companies, including companies with large capitalizations. To the extent the U.S. Equity Index concentrates (i.e., holds 25% or more of its total assets) in the securities of a particular industry or group of industries, the Fund will concentrate its investments to approximately the same extent. As of the date of this prospectus, through its use of FLEX Options on the Underlying ETF, the Fund is concentrated in the information technology sector. For more information on the Underlying ETF, please see the section of the prospectus entitled Additional Information About the Funds Principal Investment Strategies. The pre-determined outcomes sought by the Fund, which include the buffer and cap discussed below (the Outcomes), are based upon the performance of the Underlying ETFs share price over the period of October 1, 2024 through September 30, 2025. This period is referred to as the initial Outcome Period. Following the initial Outcome Period, each subsequent Outcome Period will be a one-year period that begins on October 1 and ends on September 30 of the following year. Upon conclusion of the Outcome Period, the Fund will receive the cash value of all the FLEX Options it held for the prior Outcome Period. It will then invest in a new series of FLEX Options with an expiration date of approximately one year in the future, and a new Outcome Period will begin. Each FLEX Options value is ultimately derived from the performance of the Underlying ETFs share price during that time. As the terms of the FLEX Options do not change during each Outcome Period, the Outcomes, including the buffer and cap discussed below, will be measured to the Funds net asset value (NAV) on the first day of the Outcome Period. The Outcomes may only be realized by investors who continuously hold Shares from the commencement of the Outcome Period until its conclusion. Investors who purchase Shares after the Outcome Period has begun or sell Shares prior to the Outcome Periods conclusion may experience investment returns that are very different from those that the Fund seeks to provide. The Funds strategy has been specifically designed to produce the Outcomes based upon the performance of the Underlying ETFs share price (or its price return) over the duration of the Outcome Period, subject to the Cap and Buffer described herein. The Fund will not receive.