ETFS 1x Daily Short Nickel ETC - SNIK

ETFS 1x Daily Short Nickel (SNIK) is designed to enable investors to gain a 'short' exposure to a total return investment in nickel futures contracts by tracking the Bloomberg Nickel Subindex (the “Index”) and providing a collateral yield. A daily short exposure means that the product is designed to reflect minus one times the daily percentage change in the Index level. For example, if the Index was to rise in value by 5% on a particular day, the product is designed to decrease in value by 5% on that day (minus fees and expenses). SNIK is an exchange traded commodity (“ETC”). It is not a UCITS product. Securities in this ETC are structured as debt securities and not as shares (equity) and can be created and redeemed on demand by authorised participants and are traded on exchange just like shares in a company. The ETC is backed by swaps.