L&G FTSE 100 Leveraged (Daily 2x) ETF - LUK2

The Fund is designed to track the performance of the FTSE 100® Daily Leveraged Index (the “Tracked Index”). The Tracked Index is a strategic index that is designed to provide twice the daily percentage change in the level of the FTSE 100® Net Dividend Total Return Index (the “Underlying Index”) less an implied amount reflecting the cost of borrowing additional capital to invest in the index portfolio to create the leveraged position (the “Financing Cost”). This magnified exposure is known as 'leveraged' exposure. For example, if the Underlying Index was to decrease in value by 5% on a particular day, the Tracked Index is designed to decrease in value by 10% on that day, subject to the adjustment for the Financing Cost. LUK2 is designed to reflect the performance of the Tracked Index, minus fees and expenses.