Amundi US Curve steepening 2-10Y UCITS ETF GBP Hedged DistIndex, costs, backtest, listings and taxation

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The Sub-Fund is an index-tracking UCITS passively managed. The investment objective of the Sub-Fund is to reflect both the upward and downward evolution of the Solactive USD Daily (x7) Steepener 2-10 Index (the “Benchmark Index") denominated in USD, representative of the performance of a long position in 2Y US Treasury Note Futures (2-year contract) and a short position in the Ultra 10Y US Treasury Note Futures (10-year contract) while minimizing the volatility of the difference between the return of the Fund and the return of the Benchmark Index (the "Tracking Error"). The anticipated level of Tracking Error in normal market conditions is indicated in the Prospectus. The strategy that the Benchmark Index aims to replicate is commonly referred as a steepening strategy as it benefits from a steepening of the US interest rate curve. The Benchmark Index is representative of the performance of a long position in 2Y US Treasury Note Futures (2-year contract) and a short position in the Ultra 10Y US Treasury Note Futures (10-year contract). As a result, the Benchmark Index should benefit from an increase of the difference between the 10year US yield and the 2-year US yield. On the contrary in the case of a decrease of the difference between the 10-year US yield and the 2-year US yield the Benchmark Index should decrease. In order to ensure the replicability of the Benchmark Index which the Sub-Fund reflects, the Benchmark Index methodology takes into account factors such as, but not limited to, funding costs. The Benchmark Index is a net total return index. A net total return index calculates the performance of the index constituents on the basis that any coupons are included in the index returns after withholding tax retention. Additional information about the Benchmark Index can be found at www.solactive.de.

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The Sub-Fund seeks to achieve its objective via indirect replication by entering into an over-the-counter swap contract (financial derivative instrument, the "FDI"). The Sub-Fund may also invest in a diversified portfolio of international bonds, whose performance will be exchanged against the performance of the benchmark Index via the FDI. In order to hedge against the Sterling Pound (GBP) currency risk, the Sub-Fund uses a Monthly hedging strategy which aims at reducing the impact of a change in the Sub-Fund currency against the currency of the Benchmark Index constituents. Updated composition of the Sub-Fund holdings is available on www.amundietf.com. In addition, the indicative net asset value is published on the Reuters and Bloomberg pages of the Sub-Fund, and might also be mentioned on the websites of the stock exchanges where the Sub-Fund is listed. The Sub-Fund's shares are listed and traded on one or more stock exchanges. In normal circumstances, you may deal in shares during the trading hours of the stock exchanges, provided that the Market Makers can maintain market liquidity. Only authorized participants (e.g. selected financial institutions) may deal in shares directly with the Sub-Fund on the primary market. Further details are provided in the prospectus of the UCITS. In order to hedge the currency of the share against the currency of the index, the Fund uses a hedging strategy which reduces the impact of changes between the currency of the Index and the currency of the share class."

Intended Retail Investor:This product is intended for investors, with an advanced knowledge of and experience of investing in funds, seeking to increase the value of their investment over the recommended holding period with the ability to bear losses up to the amount invested.

Redemption and Dealing:The Sub-Fund's shares are listed and traded on one or more stock exchanges. In normal circumstances, you may deal in shares during the trading hours of the stock exchanges. Only authorised participants (e.g., selected financial institutions) may deal in shares directly with the SubFund on the primary market. Further details are provided in the MULTI UNITS LUXEMBOURG prospectus.

Distribution policy:The Fund’s amounts available for distribution (if any) will be distributed.

More Information:You may get further information about the Sub-Fund, including the prospectus, and financial reports which are available at and free of charge on request from: Amundi Luxembourg S.A. at 5, allée Scheffer 2520 Luxembourg, Luxembourg.