State Street Global Advisors, the asset management business of
State Street Corporation (NYSE: STT), today announced several
changes to its SPDR® MSCI ACWI Low Carbon Target ETF (LOWC).
Effective on or about Friday, April 22, 2022, the SPDR MSCI ACWI
Low Carbon Target ETF will undergo changes to its fund name,
ticker, benchmark, listing exchange and will undergo a 4:1 stock
split.
Current Name and Ticker
New Name and Ticker
Current Benchmark
New Benchmark
Current Listing Exchange
New Listing Exchange
Stock Split
SPDR MSCI ACWI Low Carbon Target ETF
(LOWC)
SPDR MSCI ACWI Climate Paris Aligned ETF
(NZAC)
MSCI ACWI Low Carbon Target Index
MSCI ACWI Climate Paris Aligned Index
NYSE Arca
Nasdaq
4:1
SPDR MSCI ACWI Low Carbon Target ETF will move its primary
listing from NYSE Arca to The Nasdaq Stock Market LLC (“Nasdaq”) on
or about April 22, 2022. The fund’s benchmark will be moving to the
MSCI ACWI Climate Paris Aligned Index, which is designed to support
investors who seek to reduce their exposure to transition and
physical climate-related risks and who wish to pursue opportunities
arising from the transition to a lower-carbon economy in alignment
with the Paris Agreement requirements.
The fund will also be undergoing a 4:1 share split. Once
implemented, the split will lower the fund’s share price and
increase the number of outstanding shares. The aggregate market
value of shares outstanding will not be impacted. The share split
will apply to shareholders of record as of market close on or about
April 19, 2022 and will be payable after market close on or about
April 21, 2022. The shares will trade at their post-split price
effective on or about April 22, 2022.
State Street Global Advisors SPDR ETFs maintains partnerships
with the NYSE Arca and other exchange operators such as Nasdaq.
Shareholders will not be required to take any action as a result of
these changes.
About SPDR Exchange Traded Funds
SPDR ETFs are a comprehensive family spanning an array of
international and domestic asset classes. SPDR ETFs are sponsored
by affiliates of State Street Global Advisors. The funds provide
investors with the flexibility to select investments that are
aligned to their investment strategy. For more information, visit
www.ssga.com/etfs.
About State Street Global Advisors
For four decades, State Street Global Advisors has served the
world’s governments, institutions and financial advisors. With a
rigorous, risk-aware approach built on research, analysis and
market-tested experience, we build from a breadth of active and
index strategies to create cost-effective solutions. As stewards,
we help portfolio companies see that what is fair for people and
sustainable for the planet can deliver long-term performance. And,
as pioneers in index, ETF, and ESG investing, we are always
inventing new ways to invest. As a result, we have become the
world’s fourth-largest asset manager* with US $4.14 trillion† under
our care.
*Pensions & Investments Research Center, as of 12/31/20.
†This figure is presented as of December 31, 2021 and includes
approximately $61.43 billion of assets with respect to SPDR
products for which State Street Global Advisors Funds Distributors,
LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
Important Risk Disclosures
Investing involves risk including the risk of loss of
principal.
All information is from SSGA unless otherwise noted and has been
obtained from sources believed to be reliable, but its accuracy is
not guaranteed. There is no representation or warranty as to the
current accuracy, reliability or completeness of, nor liability
for, decisions based on such information and it should not be
relied on as such.
The trademarks and service marks referenced herein are the
property of their respective owners. Third party data providers
make no warranties or representations of any kind relating to the
accuracy, completeness or timeliness of the data and have no
liability for damages of any kind relating to the use of such
data.
The information provided does not constitute investment advice
and it should not be relied on as such. It should not be considered
a solicitation to buy or an offer to sell a security. It does not
take into account any investor's particular investment objectives,
strategies, tax status or investment horizon.
The whole or any part of this work may not be reproduced, copied
or transmitted or any of its contents disclosed to third parties
without SSGA’s express written consent. Investing involves risk,
including the risk of loss of principal.
This communication is not intended to be an investment
recommendation or investment advice and should not be relied upon
as such.
ETFs trade like stocks, are subject to investment risk,
fluctuate in market value and may trade at prices above or below
the ETFs net asset value. Brokerage commissions and ETF expenses
will reduce returns.
Foreign (non-U.S.) Securities may be subject to greater
political, economic, environmental, credit and information risks.
Foreign securities may be subject to higher volatility than U.S.
securities, due to varying degrees of regulation and limited
liquidity.
Equity securities may fluctuate in value in response to the
activities of individual companies and general market and economic
conditions.
Non-diversified fund may invest in a relatively small number of
issuers, a decline in the market value may affect its value more
than if it invested in a larger number of issuers. While the Fund
is expected to operate as a diversified fund, it may become
non-diversified for periods of time solely as a result of changes
in the composition of its benchmark index.
The Fund may not purchase securities of any issuer if, as a
result, more than 5% of the Fund’s total assets would be invested
in that issuer’s securities; except as may be necessary to
approximate the composition of its target index. This limitation
does not apply to obligations of the U.S. government or its
agencies or instrumentalities.
Passively managed funds hold a range of securities that, in the
aggregate, approximates the full Index in terms of key risk factors
and other characteristics. This may cause the fund to experience
tracking errors relative to performance of the index.
The returns on a portfolio of securities which exclude companies
that do not meet the portfolio's specified ESG criteria may trail
the returns on a portfolio of securities which include such
companies. A portfolio's ESG criteria may result in the portfolio
investing in industry sectors or securities which underperform the
market as a whole.
Intellectual Property Information
Standard & Poor’s, S&P and SPDR are registered
trademarks of Standard & Poor’s Financial Services LLC, a
division of S&P Global (“S&P”); Dow Jones is a registered
trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and
these trademarks have been licensed for use by S&P Dow Jones
Indices LLC (SPDJI) and sublicensed for certain purposes by State
Street Corporation. State Street Corporation’s financial products
are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones,
S&P, their respective affiliates and third party licensors and
none of such parties make any representation regarding the
advisability of investing in such product(s) nor do they have any
liability in relation thereto, including for any errors, omissions,
or interruptions of any index.
The funds or securities referred to herein are not sponsored,
endorsed, or promoted by MSCI, and MSCI bears no liability with
respect to any such funds or securities or any index on which such
funds or securities are based. The Prospectus contains a more
detailed description of the limited relationship MSCI has with SSGA
Funds Management, Inc and any related funds.
Distributor: State Street Global Advisors Funds
Distributors, LLC, member FINRA, SIPC, State Street Global
Advisors, One Iron Street, Boston, MA 02210.
Before investing, consider the fund’s investment objectives,
risks, charges and expenses. To obtain a prospectus or summary
prospectus which contains this and other information, call
1-866-787-2257 or visit www.ssga.com. Read it carefully.
Not FDIC Insured • No Bank Guarantee • May Lose Value
State Street Global Advisors, 1 Iron Street, Boston, MA
02210-1641 © 2022 State Street Corporation. All Rights Reserved.
4286957.1.1.AM.RTL Exp. Date: 02/28/2023
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Deborah Heindel +1 617.662.9927 dheindel@statestreet.com
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