Mutual Fund Summary Prospectus (497k)
21 Mai 2020 - 10:51PM
Edgar (US Regulatory)
SPDR® SERIES TRUST
(the Trust)
SPDR S&P Technology Hardware ETF
SPDR S&P 500 Buyback ETF
(each a Fund, collectively the Funds)
Supplement dated May 21, 2020
to the Summary Prospectuses, Prospectus and Statement of Additional Information
each dated October 31, 2019, as may be supplemented from time to time
At the recommendation of SSGA Funds Management, Inc. (the Adviser), the Trusts investment adviser, the Trusts Board of Trustees voted
to close and liquidate the Funds.
Each Fund will create and redeem creation units through May 29, 2020, which will also be the last day of trading
of each Funds shares on the NYSE Arca, Inc., each Funds principal U.S. listing exchange. Each Fund will cease operations, liquidate its assets, and prepare to distribute proceeds to shareholders of record on or about June 5, 2020
(the Liquidation Date). Shareholders of record of each Fund remaining on the Liquidation Date will receive cash at the net asset value of their shares as of such date, which will include any net capital gains and net investment income as
of this date that had not been previously distributed. Any net capital gains and net investment income from the previous fiscal year, which were not distributed by the end of the most recent fiscal year-end,
may be distributed to shareholders in advance of the Liquidation Date, in what is commonly referred to as a spillback distribution.
Prior to
the Liquidation Date, each Fund will be in the process of closing down and liquidating its portfolio, which will result in the Fund not tracking its Index and increasing its holdings in cash and/or cash equivalents, which may not be consistent with
the Funds investment objective and strategy. Shareholders of a Fund may sell their holdings on the NYSE Arca, Inc. prior to May 30, 2020. Customary brokerage charges may apply to such transactions. From May 30, 2020 through the
Liquidation Date, we cannot assure you that there will be a market for your shares.
On or about June 8, 2020, each Fund will distribute to its
remaining shareholders a liquidating cash distribution equal to the current net asset value of their shares. While Fund shareholders remaining on the Liquidation Date will not incur transaction fees, shareholders generally will recognize a capital
gain or loss on the redemptions. Shareholders should contact their tax adviser to discuss the income tax consequences of the liquidation.
Shareholders
can call 1-866-787-2257 for additional information.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
05212020SUP1
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