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SPDR Nuveen Barclays New York Municipal Bond ETF
Ticker Symbol: INY* CUSIP: 78464A433 Exchange: NYSEA
* NOTE: This security is no longer trading as of 8/24/2016
Company's Online Profile
FUND DESCRIPTION: The SPDR Nuveen Barclays New York Municipal Bond ETF, formerly the SPDR Lehman New York Municipal Bond ETF, is an exchange-traded index fund or Index ETF that is a separate investment portfolio of the SPDR Series Trust, an open-end management investment company. INVESTMENT OBJECTIVE: The SPDR Nuveen Barclays New York Municipal Bond ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Barclays Managed Money Municipal New York Index. INDEX DESCRIPTION: The Barclays Managed Money Municipal New York Index is designed to track publicly traded New York municipal bonds that cover the U.S. dollar denominated New York revenue bonds, pre-refunded bonds, and insured bonds. A general obligation bond is secured by the full faith and credit of its issuer. A revenue bond is payable from a specific source of revenue. A pre-refunded bond is a revenue bond that the issuer has allocated funds to fully retire. An insured bond is protected from issuer default or rating downgrade by an insurance company. The Index also includes municipal lease obligations, which are securities issued by state and local governments and authorities to finance the acquisition of equipment and facilities. They may take the form of a lease, an installment purchase contract, a conditional sales
contract, or a participation interest in a lease or contract. The Index is a rules-based, market-value weighted index. All bonds in the Index must be rated Aa3/AA- or higher by at least two of the following statistical ratings agencies: Moody's Investors Service, Inc., Standard & Poor's, and Fitch Inc. If only two of the three agencies rate the security, the lower rating is used to determine index eligibility. If only one of the agencies rates the security, the rating must be at least Aa3/AA-. Each Index security must be issued by authorities in New York, have an outstanding par value of at least $7 million and be issued as part of a transaction of at least $75 million. The bonds must be fixed rate and have a nominal maturity of one or more years. No issuer may constitute more than 10% of the Index. Bonds subject to alternative minimum tax, hospital bonds, housing bonds, tobacco bonds and airline bonds, along with remarketed issues, taxable municipal bonds, floaters, and derivatives are all excluded from the Index. As of September 30, 2010, there were approximately 595 securities in the Index and the modified adjusted duration of securities in the Index was
approximately 9.73 years. FUND STRATEGY: In seeking to track the performance of the Index the Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index. Instead, the Fund may purchase a subset of the
securities in the Index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the Index. The quantity of holdings in the Fund will be based on a number of factors, including asset size of the Fund. It is generally expected that the Fund will hold less than the total number of securities in the Index, but reserves the right to hold as many securities as it believes necessary to achieve the Fund's investment objective. Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index or in securities that has been determined have economic characteristics that are substantially identical to the economic characteristics of the securities that comprise the Index. Additionally, the Fund intends to invest, under normal circumstances, 80% of its
assets in investments the income of which is exempt from both Federal income tax and New York income tax. In addition, the Fund may invest in fixed-income securities that are not included in the Index, futures, options, swap contracts and other derivatives, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds. FUND MANAGEMENT: SSgA Funds Management, Inc. serves as the investment adviser to the Fund and, subject to the supervision of the Board, is responsible for the investment management of the Fund and it's assets.
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Notes: Effective at the close of markets on Aug. 24, a dozen of the smallest ETFs in the State Street Global Advisors lineup will cease to trade. Announcing the closures, SSgA said that the decisions were made based on an ongoing review of the SPDR ETF offering and limited market demand.
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IPO - 10/9/2007 -
Link to IPO Prospectus
Previous Name: SPDR Nuveen Barclays Capital New York Municipal Bond ETF
Micro Cap Stock -
Market Value $25.3 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: One Lincoln Street, Boston, MA 02111 |
| Main Phone Number |
866-787-2257 |
| Fax Number |
Not Available |
| Investor Contact
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866-787-2257
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| Toll Free Phone Number |
866-787-2257 |
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