Highlights

• Exposure to investment grade Capital Securities issued by HSBC Holdings PLC(“HSBC”)

• 7.0% per annum yield currently; return of capital

• 10.0% pre-tax interest equivalent yield

• Distributions paid will equal distributions from investments less fund expenses

• Approximately 5-Year Term – scheduled to mature on December 30, 2015

• Low Cost Investment – 40 bps per annum of NAV management fee

• Exchange Option (September 23 Deadline)

• Class A Units: Priced in C$ and hedges US$ assets

• Class U Units: Designed for investors seeking US$ exposure

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