DULL

MicroSectors Gold -3X Inverse Leveraged ETN seeks return on the notes is linked to a three times leveraged participation in the daily inverse performance of the SPDR Gold Shares (the "ETF"), which is an exchange traded fund that invests in gold bullion. The notes are designed to reflect a 3x leveraged inverse exposure to the inverse performance of the ETF on a daily basis. The notes are riskier than securities that have intermediate- or long-term investment objectives, and may not be suitable for investors who plan to hold them for a period other than one day or who have a "buy and hold" strategy.