This is a fully collateralised, UCITS eligible exchange-traded product (ETP) designed to provide investors with a leveraged exposure to the S&P 500. It provides a total return comprised of 3 times the daily performance of the S&P 500 Net Total Return Index (SPTR500N), adjusted to reflect fees and costs inherent to maintaining a leveraged position in stocks. For example, if the S&P 500 Net Total Return Index rises by 1% over a day, then the ETP will rise by 3%, excluding fees. However if the S&P 500 Net Total Return Index falls by 1% over a day, then the ETP will fall by 3%, excluding fees.These products are designed to be held for very short time frames and there is no guarantee that they will replicate the performance of the underlying index beyond one day.