FNGD Stock, MicroSectors FANG Index -3X Inverse Leveraged ETNs due January 8 2038 Information

The investment seeks return linked to a three times inverse leveraged participation in the daily performance of the NYSE Fang Index total return the index. The notes are intended to be daily trading tools for sophisticated investors to manage daily trading risks as part of an overall diversified portfolio. The index is an equaldollar weighted index designed to represent a segment of the technology and consumer discretionary sectors consisting of highlytraded growth stocks of technology and techenabled companies. The notes are intended to be daily trading tools for sophisticated investors to manage daily trading risks as part of an overall diversified portfolio. The index is an equal-dollar weighted index designed to represent a segment of the technology and consumer discretionary sectors consisting of highly-traded growth stocks of technology and tech-enabled companies.