You should consider the portfolio’s investment objective, risks, and charges and expenses carefully before investing. Contact your financial advisor or visit SEC.gov to obtain a prospectus, which contains this and other information about the portfolio. Read it carefully before you invest. The suitability of an investment should be considered based on, among other things, your investment objective, risk tolerance, financial goals and time horizons. The fund seeks to achieve its investment objective over the life of the fund and has not been designed to deliver on its investment objective if the units are bought at prices different than the Inception Value of the units or are redeemed prior to the Maturity Date. All returns will be subject to reductions due to ongoing fees and expenses. Investors will not have the right to receive any dividends on the reference asset. There is no guarantee that the fund will achieve its investment objective.
The fund is a Unit Investment Trust (“UIT”) that will seek to distribute monthly income by investing in a portfolio of Non-Callable Yield Notes linked to baskets of three US large-cap stocks and ETFs. Each of the portfolio holdings will feature a Contingent Coupon Barrier, and Principal Barrier (at maturity). The fund provides a monthly income stream and creates an allocation to Non-Callable Yield Notes for those willing to assume equity risk as an alternative fixed income portfolio. There is, however, no assurance that the objectives will be achieved.
In pursuing its investment objective, the fund intends to hold a static portfolio of Non-Callable Yield Notes established on the Inception Date. The portfolio is selected using a set of initial selection criteria and is fully disclosed in the final prospectus.
| m+ Contingent Income FundSeries 10-2 | |||
|---|---|---|---|
|
Note Features*
Non-Callable Yield Notes |
Barrier Levels*
Coupon and Principal
70% ETF & 50% Single Stock Contingent Coupon Barriers 70% ETF & 50% Single Stock Principal Barrier at Maturity |
||
| Maturity Date09.29.2028 | SymbolMPLCNX | Fee-based CUSIP62480B302 | Standard CUSIP62480B203 |
| Inception Date09.24.2025 | Inception Value per Unit$10.00 | Maximum Loss Per Unit*$10.00 | Monthly Distribution Rate10.00% |
*Based on the Inception Value per Unit, and subject to reduction based on fees and expenses. This description is not intended to be complete. You should consider the fund’s investment objective, risks and charges & expenses carefully before investing. Contact your financial advisor and read the prospectus below, which contains this and other information on the fund. Read it carefully before you invest. Offers are made only by prospectus.
Remaining m+ fund Capped Return:
For each day, the maximum potential return available to unitholders based on the Capped Return of the m+ fund, calculated as the percentage increase in the m+ fund value from its NAV that would generate the Capped Return at Maturity, not including any deduction due to fees and expenses
ETF Return to Reach Fund Capped Return:
For each day, the ETF return needed for the m+ fund to reach the Capped Return at Maturity, calculated as the percentage increase in the ETF value from its closing value that would generate the Capped Return for the m+ fund at Maturity, if any, not including any deduction due to fees and expenses
ETF Return to Reach Maximum Loss:
For each day, the ETF return needed for the m+ fund to reach the Maximum Loss at Maturity, calculated as the percentage decrease in the ETF value from its closing value that would generate the Maximum Loss for the m+ fund at Maturity, if any, not including any deduction due to fees and expenses
Current figures are net of accrued expenses to date. The fund’s ability to achieve its investment objective depends on unitholders purchasing units at their Inception Value of $10.00 and holding them until the Maturity Date. Investors who purchase units at a price that is above the Inception Value will be subject to, on the Maturity Date, a return per unit that will be lower than that which the fund seeks through its investment objective. The fund’s value on the Maturity date will depend on the value of the Reference Asset on such date, and current figures displayed are as of the particular date and not representative of any returns or values that investors may earn on the Maturity Date. All fund returns will be net of fees and expenses incurred until and including the Maturity Date, which are not taken into account in certain figures above. Investors should refer to the prospectus for detailed fees and expenses.
| Issuer | CUSIP | Description | Underliers | Inception Weighting | Coupon Rate | Coupon Barrier | Principal Barrier |
|---|---|---|---|---|---|---|---|
| BNP Paribas | 05618YN20 | Non-Callable Yield Note without Memory | iShares MSCI Emerging Market - EEM iShares Russell 2000 ETF - IWM Invesco QQQ Trust- QQQ |
12.14% | 8.40% | 70% | 70% |
| National Bank of Canada | 63305MTD3 | Non-Callable Yield Note without Memory | SPDR Dow Jones Industrial Average ETF Trust - DIA iShares MSCI EAFE ETF - EFA iShares Russell 2000 ETF - IWM |
12.14% | 7.45% | 70% | 70% |
| Bank of Montreal | 06376FF38 | Non-Callable Yield Note without Memory | SPDR Dow Jones Industrial Average ETF Trust - DIA Invesco QQQ Trust- QQQ SPDR S&P 500 ETF Trust - SPY |
12.14% | 7.45% | 70% | 70% |
| Morgan Stanley Finance LLC | 61779DTF9 | Non-Callable Yield Note without Memory | iShares MSCI Emerging Market - EEM iShares MSCI EAFE ETF - EFA SPDR S&P 500 ETF Trust - SPY |
12.14% | 7.25% | 70% | 70% |
| The Bank of Nova Scotia | 06418VV68 | Non-Callable Yield Note with Memory | The Home Depot, Inc. - HD QUALCOMM Incorporated - QCOM Tesla, Inc. - TSLA |
4.67% | 14.28% | 50% | 50% |
| Canadian Imperial Bank of Commerce |
13609FAG9 | Non-Callable Yield Note with Memory | Apple Inc. - AAPL Palantir Technologies Inc. Class A - PLTR Texas Instruments Incorporated - TXN |
4.67% | 14.19% | 50% | 50% |
| BofA Finance LLC | 09711MX23 | Non-Callable Yield Note with Memory | Broadcom Inc. - AVGO Alphabet Inc. Class A - GOOGL Target Corporation - TGT |
4.67% | 13.65% | 50% | 50% |
| Societe Generale | 83371NHL3 | Non-Callable Yield Note with Memory | Eli Lilly and Company - LLY NVIDIA Corporation - NVDA Philip Morris International Inc. - PM |
4.67% | 12.16% | 50% | 50% |
| The Toronto-Dominion Bank | 89115HU62 | Non-Callable Yield Note with Memory | Bank of America Corporation - BAC Constellation Energy - CEG Micron Technology, Inc. - MU |
4.67% | 12.15% | 50% | 50% |
| Barclays Bank PLC | 06746E5R2 | Non-Callable Yield Note with Memory | ASML Holding N.V. - ASML Intel Corporation - INTC Wells Fargo & Company - WFC |
4.67% | 12.00% | 50% | 50% |
| Royal Bank of Canada | 78017PSR3 | Non-Callable Yield Note with Memory | Marvell Technology, Inc. - MRVL Microsoft Corporation - MSFT Walmart Inc. - WMT |
4.67% | 12.00% | 50% | 50% |
| Crédit Agricole Corporate and Investment Bank |
22534W6N3 | Non-Callable Yield Note with Memory | Advanced Micro Devices, Inc. - AMD Amazon.com, Inc. - AMZN Netflix, Inc. - NFLX |
4.67% | 11.90% | 50% | 50% |
| HSBC USA Inc. | 40447CZF0 | Non-Callable Yield Note with Memory | Meta Platforms, Inc. Class A - META Oracle Corporation - ORCL Taiwan Semiconductor Manufacturing Company- TSM |
4.67% | 12.00% | 50% | 50% |
| BBVA Global Securities, B.V. | 05556GDK4 | Non-Callable Yield Note with Memory | Salesforce, Inc. - CRM Chevron Corporation - CVX UnitedHealth Group Incorporated - UNH |
4.67% | 10.40% | 50% | 50% |
| GS Finance Corp. | 40058Q5R6 | Non-Callable Yield Note with Memory | Applied Materials, Inc. - AMAT Costco Wholesale Corporation - COST NXP Semiconductors N.V. - NXPI |
4.67% | 9.95% | 50% | 50% |
INVESTORS SHOULD CAREFULLY CONSIDER THE INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES OF THE FUND BEFORE INVESTING. THIS AND OTHER IMPORTANT INFORMATION ABOUT THE FUND IS CONTAINED IN THE FUND’S PROSPECTUS, WHICH CAN BE OBTAINED BY CONTACTING YOUR FINANCIAL ADVISOR OR VISITING SEC.GOV. THE PROSPECTUS SHOULD BE READ CAREFULLY BEFORE INVESTING.
All investments are subject to market risk, including possible loss of principal. Diversification cannot assure a profit or protect against loss in a declining market. You should request a copy of the prospectus, which will contain a full description of the risks, and read it carefully before you invest. Capitalized terms that are not defined in this preliminary term sheet have the meaning ascribed to them in the prospectus.
The suitability of an investment should be considered based on, among other things, your investment objective, risk tolerance, financial goals and time horizons. The funds seek to achieve its investment objective over the life of the fund and has not been designed to deliver on its investment objective if the units are bought at prices different than the Inception Value of the units or are redeemed prior to the Maturity Date. All returns will be subject to reductions due to ongoing fees and expenses. Investors will not have the right to receive any dividends on the reference asset. There is no guarantee that the fund will achieve its investment objective. This material is provided for informational purposes only and is not intended as and may not be relied on in any manner as legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by iCapital Markets LLC ( “iCapital Markets”). This material does not intend to address the financial objectives, situation or specific needs of any individual investor.
Past performance is not indicative of future results. Alternative investments are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. The information contained herein is subject to change and is also incomplete. This industry information and its importance is an opinion only and should not be relied upon as the only important information available. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed, and iCapital Markets assumes no liability for the information provided.
This material is the property of iCapital Markets and may not be shared without the written permission of iCapital Markets. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of iCapital Markets.
The economic terms are indicative only and will vary based on the market conditions at the time of the initial deposit of such Series. The structure of these securities may be complex, and the suitability of an investment should be considered based on your investment objective, risk tolerance, financial goals and time horizons. This UIT is a buy and hold strategy and investors should consider their ability to hold the trust until maturity. There may be tax consequences unless units are purchased in an IRA or other qualified plan.
Security prices will fluctuate. The value of your investment may fall over time. Amounts available to distribute to unit-holders upon dissolution of the trust will depend primarily on the performance of the trust’s investment and are not guaranteed. The value of the units will decrease over time by the trust annual fees.
Credit risk is the risk an issuer, guarantor or counterparty of a security in the trust is unable or unwilling to meet its obligation on the security.
Unit-holders will not have control, voting rights or rights to receive cash dividends or other distributions or other rights that holders of a direct investment in the Reference Asset or its constituents would have.
Units can be redeemed in full or in part directly through the trustee, The Bank of New York Mellon, on any day the New York Stock Exchange is open. The redemption price will be the net asset value per unit. To receive the net asset value for a specific day, please ensure your redemption request is submitted before market close. Additionally, iCapital may maintain a secondary market for units, meaning that if you wish to sell your units, we may buy them at the current net asset value. Some broker-dealers may also maintain a secondary market for units, so it’s advisable to contact your financial professional for current repurchase prices to find the best available price. Please note that we can discontinue our secondary market at any time without notice.
Investors who redeem or sell units before the Maturity Date may incur losses. The redemption price could be lower due to fluctuations in security prices and applicable fees and expenses. For full details, please refer to the prospectus.
STRUCTURED INVESTMENTS ARE CONSIDERED COMPLEX PRODUCTS AND MAY NOT BE SUITABLE FOR ALL INVESTORS. Please note that there is no public secondary market for structured investments. Although the issuer may from time to time make a market in certain structured investments, the issuer does not have any obligation to do so, and market making may be discontinued at any time. Accordingly, an investor must be prepared to hold such investments until maturity. Any or all payments are subject to the creditworthiness of the issuer. The trust might not achieve its objective in certain circumstances. Certain circumstances under which the trust might not achieve its objective are if the trust liquidates structured notes prior to expiration, due to redemptions or otherwise, if the trust is unable to maintain the proportional relationship based on the number of structured notes in the trust’s portfolio, or because of trust expenses or due to adverse tax law changes affecting treatment of the structured notes. We do not actively manage the portfolio. Except in limited circumstances, the trust will hold, and continue to buy, the same securities even if their market value declines.
Tax risk. The trust intends to elect and to qualify each year to be treated as a regulated investment company (“RIC”) under Subchapter M of the U.S. Internal Revenue Code of 1986, as amended (the “Code”). As a RIC, the trust will not be subject to U.S. federal income tax on the portion of its net investment income and net capital gain that it distributes to unit-holders, provided that it satisfies certain requirements of the Code. If the trust does not qualify as a RIC for any tax- able year and certain relief provisions are not available, the trust’s taxable income will be subject to tax at the trust level and to a further tax at the unit-holder level when such income is distributed.
Securities offered through iCapital Markets, LLC, a registered broker/dealer, member FINRA and SIPC. Alaia Capital LLC, an investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”), acts as a portfolio consultant to m+ funds. These registrations and memberships in no way imply that the SEC, FINRA or SIPC have endorsed the entities, products or services discussed herein. iCapital Markets LLC and Alaia Capital LLC are subsidiaries of iCapital, Inc., and its affiliates include iCapital Advisors, LLC (collectively “iCapital”). Investors should be aware that iCapital Markets provides distribution services to m+ funds.
You should consider the fund’s investment objective, risks and charges and expenses carefully before investing. Contact your financial adviser or read the prospectus below which contains this and other information on the fund. Read it carefully before you invest