<SEC-DOCUMENT>0000891092-15-007216.txt : 20150817
<SEC-HEADER>0000891092-15-007216.hdr.sgml : 20150817
<ACCEPTANCE-DATETIME>20150817084252
ACCESSION NUMBER:		0000891092-15-007216
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20150817
DATE AS OF CHANGE:		20150817

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Teucrium Commodity Trust
		CENTRAL INDEX KEY:			0001471824
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6221]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-201953
		FILM NUMBER:		151057850

	BUSINESS ADDRESS:	
		STREET 1:		232 HIDDEN LAKE ROAD
		CITY:			BRATTLEBORO
		STATE:			VT
		ZIP:			05301
		BUSINESS PHONE:		802-257-1617

	MAIL ADDRESS:	
		STREET 1:		232 HIDDEN LAKE ROAD
		CITY:			BRATTLEBORO
		STATE:			VT
		ZIP:			05301
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>form424B3_edgar.htm
<DESCRIPTION>424B3
<TEXT>
<html><head><meta charset="utf-8"></head><body><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"><div id="75476"><p style="margin: 12pt 0pt 0pt; text-align: right; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Filed</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">pursuant</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Rule</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">424(b</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">)(</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">3)</font><br><font style="font-family: 'Times New Roman'; font-size: 10pt;">File</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">No.</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">333-</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">201953</font></p>
<p style="margin: 12pt 0pt 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">PROSPECTUS </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">SUPPLEMENT</font><br><font style="font-family: 'Times New Roman'; font-size: 10pt;">(To Prospectus dated April 30, 2015)</font></p>
<h1 style="margin: 12pt 0pt 0pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>TEUCRIUM</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> AGRICULTURAL </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>FUND</strong></font><br><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>4,650,000 Shares</strong></font></h1>
<p style="margin: 12pt 0pt 0pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">This</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">supplement</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> is to the p</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">rospectus</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> Teucrium Commodity Trust (the &#147;Trust&#148;) </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">dated</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> April 30, 2015, which relates to shares issued by the Teucrium Agricultural Fund (the &#147;Fund&#148;), a series of the Trust (the &#147;Fund Shares&#148;). The Fund Shares have previously been registered under the Securities Act of 1933, as amended, on a registration statement bearing File No. 333-</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">201953</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">. This prospectus supplement </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">should</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">read</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">entirety</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">kept</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">together</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">your</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> p</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">rospectus</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">future</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">reference.</font></p>
<p style="margin: 12pt 0pt 0pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Effective August 17, 2015, U.S. Bank N.A. replaced The Bank of New York Mellon as the Custodian for the Fund.&nbsp; In addition, effective the same date, U.S. Bancorp Fund Services replaced The Bank of New York Mellon as the Transfer Agent, Fund Accountant and Fund Administrator for the Fund.&nbsp; </font></p>
<p style="margin: 12pt 0pt 0pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">To reflect the changes noted above</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">, the Fund&#146;s Prospectus is revised as follows:</font></p>
<p style="margin: 12pt 0pt 0pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>The last sentence </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>of the ninth paragraph in the section titled &#147;</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Overview of the Fund</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>&#148;</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> is deleted and replaced with the following:</strong></font></p>
<p style="margin: 12pt 0pt 0pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The Fund earns interest income from the Treasury Securities and/or cash equivalents that it purchases and on the cash it holds through the Fund&#146;s custodian, U.S. Bank N.A. (the &#147;Custodian&#148;).</font></p>
<p style="margin: 12pt 0pt 0pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Footnote </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>(</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>6</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>)</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> of the section entitled &#147;Breakeven Analysis&#148; is deleted in its entire</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>t</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>y and replaced with the following:</strong></font></p>
<p style="margin: 12pt 0pt 0pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6) </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">This represents the estimated approximate percentage of selling price per share net of any expenses or Sponsor fees waived by the Sponsor.&nbsp; The estimated approximate percentage of selling price per share before waived expenses or Sponsor fees is </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">10.22</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">% based on the Fund assets, net asset value per share and shares outstanding as of January 31, 2015</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> and reflects an estimate of the gross custodian fees and expenses for the period May 1, 2015 through April 30, 2016</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">.</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Such waiver may be terminated at any time at the sole discretion of the Sponsor</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">.</font></p>
<p style="margin: 12pt 0pt 0pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>The second sentence of the section titled &#147;The Offering&#151;Net Asset Value&#148; </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>is</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> deleted and replaced with the following:</strong></font></p>
<p style="margin: 12pt 0pt 0pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Under the Fund&#146;s current operational procedures, the Fund&#146;s administrator, U.S. Bancorp Fund Services (the &#147;Administrator&#148;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> or &#147;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">U.S. Bancorp</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#148;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">) calculates the NAV of the Fund&#146;s Shares as of the earlier of 4:00 p.m. </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">New York time or the close of the New York Stock Exchange each day.</font></p>
<p style="margin: 12pt 0pt 0pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>P</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>aragraphs </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>2-4</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> of the section captioned &#147;</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>The Fund&#146;s Service Providers</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>&#151;</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"><strong>Contractual Arrangements with the Sponsor and Third-Party Service Providers</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>&#148; are deleted and replaced with the following:</strong></font></p>
<p style="margin: 6pt 0pt; text-align: justify; text-indent: 36pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">In its capacity as the Fund&#146;s custodian, the Custodian, currently </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">U.S. Bank N.A</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">.,</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> holds the Fund&#146;s Treasury Securities, cash and/or cash equivalents pursuant to a custodial agreement.&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">U.S. Bancorp</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">, an entity affiliated with U.S. Bank, N.A. </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">is </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> registrar and transfer agent for the F</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">und&#146;s Shares.&nbsp; In addition, </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">U.S. Bancorp </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">serves as Administrator for the Fund, performing certain administrative and accounting services and preparing certain SEC and CFTC reports on behalf of the Fund.&nbsp; For these services, the Fund pays fees to the Custodian</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> and Administrator</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> as set forth in the table </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">entitled</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#147;Contractual Fees and Compensation Arrangements with the Sponsor and Third-Party Service Providers.&#148;</font></p>
<p style="margin: 12pt 0pt 0pt; text-align: justify; text-indent: 36pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The principal business address</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> for U.S. Bank N.A. and U.S. </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Bancorp </font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> is</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1555 North Rivercenter Drive, Suite 302, Milwaukee, Wisconsin 53212.&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">U.S. Bank N.A.</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> is a Wisconsin state chartered bank subject to regulation by the Board of Governors of the Federal Reserve System and the Wisconsin State Banking Department.</font></p>
<p style="margin: 12pt 0pt 0pt; text-align: justify; text-indent: 36pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The Bank of New York Mellon Capital Markets acts as a broker for some, but not all, of the equity transactions related to the purchase and sale of the Underlying Funds for TAGS.</font></p>
<p style="margin: 12pt 0pt 0pt; text-align: justify; text-indent: 36pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The principal place of business of The Bank of New York Mellon Capital Markets is </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">One Wall Street, New York, New York 10286</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">.&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">The Custodian is a New York state chartered bank subject to regulation by the Board of Governors of the Federal Reserve System and the New York State Banking Department.</font></p>
<p style="margin: 12pt 0pt 0pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>The portion of the table </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>entitled</strong></font><font style="font-family: 'Times New Roman'; font-size: 12pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>&#147;Contractual Fees and Compensation Arrangements with the Sponsor and Third-Party Service Providers&#148; relating to the Custodian, Transfer Agent, Fund Accountant and Fund Administrator is deleted and replaced with the following:</strong></font></p>
<table style="border-collapse: collapse; width: 100%;" cellspacing="0" cellpadding="0">

<tr>
<td style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1.5pt; vertical-align: bottom; width: 31.7%; font-family: 'Times New Roman';">
<p style="margin: 6pt 0pt 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Service Provider</strong></font></p>
</td>
<td style="vertical-align: bottom; width: 1.98%; font-family: 'Times New Roman';">
<p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1.5pt; vertical-align: bottom; width: 31.7%;">
<p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Compensation Paid by the</strong></font></p>
<p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Fund</strong></font></p>
</td>
<td style="vertical-align: bottom; width: 1.98%; font-family: 'Times New Roman';">
<p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1.5pt; vertical-align: bottom; width: 32.64%;">
<p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Compensation Paid by the</strong></font></p>
<p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Underlying Funds</strong></font></p>
</td>
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<td style="vertical-align: top; width: 31.7%; text-align: left; font-family: 'Times New Roman';">
<p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font> &nbsp; <font> &nbsp; </font></p>
</td>
<td style="vertical-align: top; width: 1.98%; text-align: left; font-family: 'Times New Roman';">
<p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font> &nbsp; <font> &nbsp; </font></p>
</td>
<td style="vertical-align: top; width: 31.7%; text-align: left; font-family: 'Times New Roman';">
<p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font> &nbsp; <font> &nbsp; </font></p>
</td>
<td style="vertical-align: top; width: 1.98%; text-align: left; font-family: 'Times New Roman';">
<p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font> &nbsp; <font> &nbsp; </font></p>
</td>
<td style="vertical-align: top; width: 32.64%; text-align: left; font-family: 'Times New Roman';">
<p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font> &nbsp; <font> &nbsp; </font></p>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 31.7%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">U.S. Bank N.A., Custodian</font></p>
<p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 12pt 0pt 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 12pt 0pt 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">U.S. Bancorp Fund Services, Transfer Agent, Fund Accountant and Fund Administrator</font></p>
</td>
<td style="vertical-align: top; width: 1.98%; font-family: 'Times New Roman';">
<p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 31.7%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">For custody services:&nbsp; 0.0075% of average gross assets up to $1 billion, and .0050% of average gross assets over $1 billion, annually, plus certain per-transaction charges</font></p>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">For Transfer Agency, Fund Accounting and Fund Administration services, based on the total assets for all the Funds in the Trust:&nbsp; 0.06% of average gross assets on the first $250 million, 0.05% on the next $250 million, 0.04% on the next $500 million and 0.03% on the balance over $1 billion annually</font></p>
<p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">A combined minimum annual fee of up to $64,500 for custody, transfer agency, accounting and administrative services is assessed per Fund.</font></p>
</td>
<td style="vertical-align: top; width: 1.98%; font-family: 'Times New Roman';">
<p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 32.64%;">
<p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">For custody services:</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.0075% of average gross assets up to $1 billion, and 0.0050% of average gross assets over $1 billion, annually, plus certain per-transaction charges</font></p>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">For Transfer Agency, Fund Accounting and Fund Administration services, based on the total assets for all the Funds in the Trust:&nbsp; 0.06% of average gross assets on the first $250 million, 0.05% on the next $250 million, 0.04% on the next $500 million and 0.03% on the balance over $1 billion annually</font></p>
<p style="margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">A combined minimum annual fee of up to $64,500 for custody, transfer agency, accounting and administrative services is assessed per Fund.</font></p>
</td>
</tr>

</table>
<p style="margin: 12pt 0pt 0pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>T</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>he table </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>and accompanying footnotes </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>in the section titled &#147;The Fund&#146;s Service Providers&#151;Other Non-Contractual Payments by the Fund&#148; </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>are</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> deleted and replaced with the following:</strong></font></p>
<p style="margin: 0pt 0pt 12pt; page-break-after: avoid; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>&nbsp;</strong></font></p>
<table width="489" cellpadding="0" border="0" cellspacing="0">

<tr>
<td><font style="font-family: 'Times New Roman'; font-size: 10pt;">Professional Fees</font><font style="font-family: 'Times New Roman'; font-size: 6.67pt; vertical-align: super;">1</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></td>
<td>$</td>
<td style="text-align: right;">0.15</td>
</tr>
<tr>
<td><font style="font-family: 'Times New Roman'; font-size: 10pt;">Distribution and Marketing Fees</font><font style="font-family: 'Times New Roman'; font-size: 6.67pt; vertical-align: super;">2</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;</font></td>
<td><br></td>
<td style="text-align: right;">0.00</td>
</tr>
<tr>
<td style="width: 72.5%;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Custodian Fees and Expenses</font><font style="font-family: 'Times New Roman'; font-size: 6.67pt; vertical-align: super;">3</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></td>
<td style="width: 2.5%;"><br></td>
<td style="width: 25%; text-align: right;">0.00</td>
</tr>
<tr>
<td><font style="font-family: 'Times New Roman'; font-size: 10pt;">General and Administrative Fees</font><font style="font-family: 'Times New Roman'; font-size: 6.67pt; vertical-align: super;">4</font></td>
<td><br></td>
<td style="text-align: right;">0.00</td>
</tr>
<tr>
<td><font style="font-family: 'Times New Roman'; font-size: 10pt;">Business Permits and Licenses</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;</font></td>
<td><br></td>
<td style="text-align: right;">0.00</td>
</tr>
<tr>
<td><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; background-color: #ffffff;">Other Expenses </font></td>
<td style="border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;"><br></td>
<td style="text-align: right;border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;">0.00</td>
</tr>
<tr>
<td><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp; &nbsp; &nbsp;Total Other Fund Fees and Expenses</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;</font></td>
<td>$</td>
<td style="text-align: right;">0.15</td>
</tr>

</table>
<p style="margin: 6pt 0pt 0pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 11pt;"></font></p>
<p style="margin: 6pt 0pt 0pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 11pt;">(1)</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Professional fees consist of primarily, but not entirely, legal, auditing and tax-preparation related costs.</font><br></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt; orphans: 0; text-indent: 0pt; widows: 0; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 11pt;">(2)</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Distribution and marketing fees consist of primarily, but not entirely, fees paid to the Distributor (Foreside Fund Services, LLC), costs related to regulatory compliance activities and other costs related to the trading activities of the Fund</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">.</font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt; orphans: 0; text-indent: 0pt; widows: 0; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 11pt;">(3)</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Custodian fees </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">and expenses </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">consist</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">s</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> of fees to U.S. Bank N.A. for Fund custodian activities</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> and </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">to </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">U.S. Bancorp Fund Services for Fund accounting and</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> transfer agent activities.</font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt 0pt 0pt 54pt; orphans: 0; text-indent: -54pt; widows: 0; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 11pt;">(4)</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">General and Administrative fees consist of primarily, but not entire</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">ly, insurance and printing costs.</font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 12pt 0pt 0pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>The section titled &#147;Form of Shares&#151;Registered Form&#148; is deleted and replaced with the following:</strong></font></p>
<p style="margin: 6pt 0pt; text-align: justify; text-indent: 36pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Shares are issued in registered form in accordance with the Trust Agreement. </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">U.S. Bancorp Fund Services</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> has been appointed registrar and transfer agent for the purpose of transferring Shares in certificated form. </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">This entity</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> keeps a record of all Shareholders and holders of the Shares in certificated form in the registry (&#147;Register&#148;). The Sponsor recognizes transfers of Shares in certificated form only if done in accordance with the Trust Agreement. The beneficial interests in such Shares are held in book-entry form through participants and/or accountholders in DTC. </font></p>
<p style="margin: 12pt 0pt 0pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>The section entitled &#147;Books and Records&#148; is deleted and replaced in its entirety by the following:</strong></font></p>
<p style="margin: 12pt 0pt 0pt; text-align: justify; text-indent: 36pt; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The Trust keeps its books of record and account at its office located at 232 Hidden Lake Road, Building A,&nbsp; Brattleboro, Vermont 05301, or at the offices of the Administrator, U.S. Bancorp, located at </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">1555 North Rivercenter Drive, Suite 302, Milwaukee, Wisconsin 53212</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">, or such office, including of an administrative agent, as it may subsequently designate upon notice.&nbsp; The books of </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">account of the Fund are open to inspection by any Shareholder (or any duly constituted designee of a Shareholder) at all times during the usual business hours of the Fund upon reasonable advance notice to the extent such access is required under CFTC rules and regulations.&nbsp; In addition, the Trust keeps a copy of the Trust Agreement on file in its office which will be available for inspection by any Shareholder at all times during its usual business hours upon reasonable advance notice. </font></p>
<p style="margin: 12pt 0pt 0pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Investing</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>in</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>the</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Fund</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>involves</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>significant</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>risks.</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>See</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> &#147;</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>What</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Are</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>the</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Risk</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Factors</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Involved</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>with</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>an</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Investment</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>in</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>the</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Fund?</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>&#148; </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>beginning</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>on</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>page</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>1</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>5 </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>of</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>the</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>prospectus.</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>The</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Fund</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>is</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>not</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>a</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>mutual</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>fund</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>registered</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>under</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>the</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Investment</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Company</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Act</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>of</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>1940</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>and</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>is</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>not</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>subject</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>to</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>regulation</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>under</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>such</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>Act.</strong></font></p>
<p style="margin: 12pt 0pt 0pt; text-align: center; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">NEITHER</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">THE</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">SECURITIES</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">AND</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">EXCHANGE</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">COMMISSION</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">(</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#147;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">SEC</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#148;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">)</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">NOR</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">ANY</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">STATE</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">SECURITIES</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">COMMISSION</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">HAS</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">APPROVED</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">OR</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">DISAPPROVED</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">OF</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">THE</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">SECURITIES</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">OFFERED</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">IN</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">THIS</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">PROSPECTUS,</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">OR</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">DETERMINED</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">IF</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">THIS</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">PROSPECTUS</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">IS</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">TRUTHFUL</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">OR</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">COMPLETE.</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">ANY</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">REPRESENTATION</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">TO</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">THE</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">CONTRARY</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">IS</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">A</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">CRIMINAL</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">OFFENSE.</font></p>
<p style="margin: 12pt 0pt 0pt; text-align: center; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">THE</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">COMMODITY</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">FUTURES</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">TRADING</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">COMMISSION</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">HAS</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">NOT</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">PASSED</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">UPON</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">THE</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">MERITS</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">OF</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">PARTICIPATING</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">IN</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">THIS</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">POOL</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">NOR</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">HAS</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">THE</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">COMMISSION</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">PASSED</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">ON</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">THE</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">ADEQUACY</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">OR</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">ACCURACY</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">OF</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">THIS</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">DISCLOSURE</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">DOCUMENT.</font></p>
<h1 style="margin: 12pt 0pt 0pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>The</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>date</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>of</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>this</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>prospectus</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>supplement</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> </strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong>is</strong></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><strong> August 17, 2015</strong></font></h1></div></div></body></html>
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