iPath US Treasury 10-year Bull ETN

The investment seeks to replicate, net of expenses, the performance of the Barclays Capital 10Y US Treasury Futures Targeted Exposure index. The index seeks to produce returns that track movements in response to an increase or decrease, as applicable, in the yields available to investors purchasing 10-year U.S. Treasury notes. Specifically, the level of the index is designed to increase in response to a decrease in 10-year Treasury note yields and to decrease in response to an increase in 10-year Treasury note yields.