The objective of the ETP Securities is to provide -3 times the value of the daily performance of the SPDR S&P 500 ETF Trust Exchange Traded Fund, net of fees and expenses. The ETP securities seek to pursue the -3x Short US 500 Investment Strategy (the "Investment Strategy") which provides exposure to -3 times the daily performance of the SPDR S&P 500 ETF Trust Exchange Traded Fund (the “Reference Asset”).