By Marisa Wong
Morgantown, W.Va., Nov. 18 – Alaia Market Linked Trust launched a unit investment trust, the Alaia SPDR S&P 500 ETF Defined Outcome Solution, Series 1-1, according to an S-6 filing with the Securities and Exchange Commission.
The return on the unit investment trust, which terminates on Nov. 22, 2018, is based on the performance of the SPDR S&P 500 ETF trust.
Investors will not receive any interest or dividend payments.
The total return per unit will be double any gain in the price of the SPDR S&P 500 ETF trust, up to a maximum return of 19%.
If the SPDR S&P 500 ETF trust falls by up to 10%, investors will receive the inception value of $1,001.55 per unit.
If the SPDR S&P 500 ETF trust falls by more than 10%, investors will lose a maximum of 85%, or $851.32, per unit.
Beech Hill Securities, Inc. is the sponsor of the trust and the underwriter.
| Issuer: | Alaia Market Linked Trust
|
| Issue: | Alaia SPDR S&P 500 ETF Defined Outcome Solution, Series 1-1
|
| Underlying asset: | SPDR S&P 500 ETF trust
|
| Maturity: | Nov. 22, 2018
|
| Coupon: | 0%
|
| Price: | $1,029.34 per unit or $1,009.27 per unit for fee accounts
|
| Payout at maturity: | Double any gain in the price of underlying asset, up to a maximum return of 19%; if underlying falls by up to 10%, investors will receive the inception value; if underlying falls by more than 10%, investors will lose a maximum of 85%, or $851.32, per unit
|
| Inception value: | $1,001.55 per unit
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| Initial value of underlying: $218.91
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| Inception date: | Nov. 18
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| Underwriter: | Beech Hill Securities, Inc.
|
| Cusip: | 010728202 for standard accounts and 010728103 for fee-based accounts
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