BOSTON--(BUSINESS WIRE)--
The SPDR® S&P 500 Exchange Traded Fund (ETF) Trust (NYSE: SPY) announced
today that the Fund received payment as an authorized claimant from a
class action settlement related to Merrill Lynch & Co.
The total amount payable to the Fund is listed below. When the Fund
calculates its net asset value (“NAV”) per share on Thursday, June 24,
2010, it is estimated that the Fund’s NAV will be impacted by the
receipt of the corresponding payment in the amount stated below based on
the shares outstanding as of June 22, 2010.
|
Fund
|
|
Settlement
Payment
|
|
Shares
Outstanding as of
June 22, 2010
|
|
Per Share
Amount
|
|
SPDR® S&P 500 ETF Trust
|
|
$8,853,107
|
|
710,832,116
|
|
$0.0125
|
State Street manages more than $204 billion in SPDR ETF assets worldwide
(as of March 31, 2010) and is one of the largest ETF providers in the US
and globally.
About State Street Global Advisors
State Street Global Advisors, the investment management arm of State
Street Corporation, delivers investment strategies and integrated
solutions to clients worldwide across every asset class, investment
approach and style. With $1.9 trillion in assets under management as of
March 31, 2010, State Street Global Advisors has investment centers in
Boston, Hong Kong, London, Montreal, Paris, Singapore, Sydney, Tokyo,
Toronto and Zurich, and offices in 27 cities worldwide. For more
information, visit State Street Global Advisors at www.ssga.com.
Note to Editors: SPDR® Exchange Traded Funds
SPDR ETFs are a comprehensive family spanning an array of international
and domestic asset classes. SPDR ETFs provide professional investors
with the flexibility to select investments that are precisely aligned to
their investment strategy. Recognized as the industry pioneer, State
Street—in partnership with the American Stock Exchange—created the first
ETF in 1993 (SPDR S&P 500 – Ticker SPY). Since then, we’ve sustained our
place as an industry innovator through the introduction of many
ground-breaking products, including first-to-market successes with gold,
international real estate, international fixed income and sector ETFs.
SPDR ETFs are managed or marketed by SSgA or SSgA Funds Management, Inc,
a registered investment adviser and wholly owned subsidiary of State
Street Bank and Trust Company.
Risk Disclosures
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.
In general, ETFs can be expected to move up or down in value with the
value of the applicable index. Although ETF shares may be bought and
sold on the exchange through any brokerage account, ETF shares are not
individually redeemable from the Fund. Investors may acquire ETFs and
tender them for redemption through the Fund in Creation Unit
Aggregations only. Please see the prospectus for more details.
Frequent trading of ETFs could significantly increase commissions and
other costs such that they may offset any savings from low fees or costs.
"SPDR®" is a registered trademark of Standard & Poor’s Financial
Services LLC ("S&P") and has been licensed for use by State Street
Corporation. No financial product offered by State Street Corporation or
its affiliates is sponsored, endorsed, sold or promoted by S&P or its
Affiliates, and S&P and its affiliates make no representation, warranty
or condition regarding the advisability of buying, selling or holding
units/shares in such products. Standard & Poor’s®, S&P®, SPDR®, S&P 500®
and Select Sector SPDRs® are registered trademark of Standard & Poor’s
Financial Services LLC and have been licensed for use by State Street
Corporation.
Distributor: ALPS Distributors, Inc., a registered broker-dealer,
is distributor for SPDR S&P 500 shares, MidCap SPDRs and SPDR Dow Jones
Industrial Average , all unit investment trusts and Select Sector SPDRs.
Merrill Lynch and ALPS Distributors, Inc. are unaffiliated entities.
References to State Street may include State Street Corporation and its
affiliates. Certain State Street affiliates provide services and receive
fees from the SPDR ETFs.
Before investing, consider the funds’ investment objectives,
risks, charges and expenses. To obtain a prospectus which contains this
and other information call 1-866-787-2257 or visit www.spdrs.com.
Read it carefully.
SPD000223
Exp. 7/31/2010
CORP-0127
Source: State Street Corporation
Contact:
State Street Corporation
Marie McGehee, 617-664-1898
or
River
Communications
Troy Mayclim, 914-686-5599