Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund

TSX:BANKCanada

BANK seeks to replicate, to the extent reasonably possible before fees and expenses, up to a 1.25 times multiple of the performance of the Solactive Canadian Core Financials Equal Weight Index, or any successor thereto (the “BANK Index”), while mitigating downside risk. BANK invests primarily in the equity constituents of the BANK Index, while writing covered call options on up to 33% of the portfolio securities in the portfolio, at the discretion of the Manager. The level of covered call option writing may vary based on market volatility and other factors. BANK will use leverage in order to seek to achieve its investment objective. Leverage will be created through the use of cash borrowings or as otherwise permitted under applicable securities legislation.