Global Macro ETP (Series 476) Notes due 2042 USD Accumulation ISIN XS2448046081

So investiert der Global Macro ETP (Series 476) Notes due 2042 USD Accumulation: The Portfolio Manager, in accordance with the terms of the Portfolio Management Agreement, shall be obliged to use all reasonable endeavours, in the course of carrying out such obligations, to maximise the total returns achieved by the Portfolio by pursuing a multi asset class strategy pursue that (i) implements an asset allocation of both short and long exchange traded funds (“ETFs”) including options (covered calls and covered puts) that maximizes returns adjusted for risk; (ii) seeks diversification from asset classes, geography and sectors though liquid ETFs, both long and short. The strategy goal is trying to keep the benchmark of up to 60% of the Portfolio in global fixed income and up to 40% of the Portfolio in global equity. These percentages can vary from time to time and do not limit in any way the Portfolio Manager in reaching his objectives. The Portfolio Manager will have the advice of Mr. Joaquin Garibay to conduct its Investment Objective.