State Street Global Advisors Announces Impact of Receiving Payment
July 31 2019 - 5:57PM
Business Wire
The SPDR® Exchange Traded Funds (ETFs) listed in the table
below, announced today that each Fund received a payment as an
authorized claimant from a class action settlement. The SPDR
S&P Biotech ETF (XBI) received payment related to Clovis
Oncology, Inc (NASDAQ: CLVS). The SPDR S&P Regional Banking ETF
(KRE) received payment related to The Bancorp, Inc (NASDAQ:
TBBK).
The payment to be received by each Fund is listed below. When
the Funds calculate their net asset value (“NAV”) per share on
Thursday, August 1, 2019, it is estimated that each Fund’s NAV will
be impacted by the amount stated below based on shares outstanding
as of July 30, 2019.
Fund
Payment Amount
Shares Outstanding as of July
30, 2019
Per Share Impact
SPDR S&P Biotech ETF (XBI)
$1,133,588
48,250,000
$0.0235
SPDR S&P Regional Banking ETF
(KRE)
$1,264,499
41,702,585
$0.0303
About SPDR Exchange Traded Funds
SPDR ETFs are a comprehensive family spanning an array of
international and domestic asset classes. SPDR ETFs are managed by
SSGA Funds Management, Inc., a registered investment adviser and
wholly owned subsidiary of State Street Corporation. The funds
provide investors with the flexibility to select investments that
are precisely aligned to their investment strategy. Recognized as
an industry pioneer, State Street created the first US listed ETF
in 1993 (SPDR S&P 500® – Ticker SPY) and has remained on the
forefront of responsible innovation, as evidenced by the
introduction of many ground-breaking products, including
first-to-market launches with gold, international real estate,
international fixed income, and sector ETFs. For more information,
visit www.spdrs.com.
About State Street Global Advisors
For nearly four decades, State
Street Global Advisors has been committed to helping financial
professionals and those who rely on them achieve their investment
objectives. We partner with institutions and financial
professionals to help them reach their goals through a rigorous,
research-driven process spanning both active and index disciplines.
We take pride in working closely with our clients to develop
precise investment strategies, including our pioneering family of
SPDR® ETFs. With trillions* in assets under management, our scale
and global footprint provide access to markets and asset classes,
and allow us to deliver expert insights and investment
solutions.
State Street Global Advisors
is the investment management arm of State Street
Corporation.
* Assets under management were $2.90 trillion
as of June 30, 2019. This figure includes approximately $36 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 Information:
All ETFs are subject to risk, including possible loss of
principal.
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. Although ETFs may be bought and sold on
the exchange through any brokerage account, ETFs are not
individually redeemable from the Fund. Investors may acquire ETFs
and tender them for redemption through the Fund in Creation Unit
Aggregations only.
XBI and KRE are offered to US Investors only and distributed
by State Street Global Advisors Funds Distributors LLC member FINRA
SIPC.
Before investing, consider the funds’ 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.spdrs.com. Read it carefully.
Not FDIC Insured • No Bank Guarantee • May Lose Value
Intellectual Property Information: Standard &
Poor's®, S&P® and SPDR® are registered trademarks of Standard
& Poor’s Financial Services LLC (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.
State Street Global Advisors, One Iron Street, Boston, MA
02110
© 2019 State Street Corporation - All Rights Reserved
Expiration Date: 7/31/2020
2663341.1.1.AM.RTL
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Olivia Offner +1 617-662-0198 ooffner@statestreet.com
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