Common use of Issue Specific Summary Clause in Contracts

Issue Specific Summary. The estimated net amount of the proceeds of issuance is USD 200000. The Issuer will invest the net proceeds of issuance in the Reference Assets referenced by the relevant Index or Investment Strategy of the Series in order to replicate (to the degree practicable) the return of the Index referenced by the Series or pursue the Investment Strategy of the Series. Amounts standing to the credit of the Margin Account from time to time, to the extent not required to be invested in Reference Assets to replicate the return of the Index or to pursue the Investment Strategy, may at the discretion of the Portfolio Administrator be maintained as cash balances in the Margin Account or invested in Ancillary Assets. The offer of ETP Securities is not subject to an underwriting agreement on a firm commitment basis.