BUFM

AB Moderate Buffer ETF seeks a moderate level of capital appreciation while providing the potential for some downside protection against market declines. The fund seeks to achieve its investment objective by investing, under normal conditions, substantially all of its assets in a combination of exchange-traded options contracts on an underlying ETF. The underlying ETF (initially expected to be the SPDR S&P 500 ETF Trust) is an ETF that seeks to track the investment results of the S&P 500 Index. The fund is non-diversified.