Filed Pursuant To Rule 433
Registration No. 333-180974
August 8, 2014
SPDR® FAMILY OF EXCHANGE TRADED FUNDS SPDR STATE STREET GLOBAL ADVISER PRECISE IN A WORLD THAT ISN’T
Precise in a world that isn’t.SM You wouldn’t buy a high-performance sports car that almost handled well. Or a Swiss watch that sort of kept time. After all, when you buy certain things you expect them to be precise. Shouldn’t investments be one of them? At State Street, we think they should be. That’s why we created SPDR exchange traded funds (ETFs), a family of ETFs that let you precisely match your investments to your investment strategy. Small Cap. Large Cap. Real Estate. Emerging Markets. Fixed Income. Gold. Whatever the market segment, you get exactly what’s on the label. Nothing more. Nothing less.
SPDR ETF Milestones SSgA launches the SPDR S&P 500® 1993 (Symbol: SPY), the world’s first and still largest ETF.* SSgA launches SPDR Dow Jones 1998 Industrial Average (Symbol:DIA) ETF, benchmarked against the Dow Jones Industrial Average, and Select Sector SPDRs,® which divide the S&P 500 into nine sectors. SSgA launches the Tracker Fund 1999 of Hong Kong® —the largest IPO in Asian ex-Japan history at the time—raising over $4 billion. SSgA launches its family of style 2000 and specialized ETFs. SSgA extends its family of ETFs 2001 to Europe. SSgA joins with local partners 2003 in Taiwan to launch the first local ETF, the Polaris Taiwan Top 50 Tracker Fund. SSgA works with the World 2004 Gold Council to launch SPDR Gold Shares Trust (Symbol: GLD), the very first US commodity exchange traded trust, raising over $2 billion in three months. SSgA partners with China Asset 2005 Management to launch the first local Chinese ETF—Shanghai SSE50 Index Fund. SSgA launches the first international 2006 real estate (Symbol: RWX) and Japanese small cap (Symbol: JSC) ETFs. SSgA launches the first 2007 regional emerging markets, global infrastructure (Symbol: GII) and international debt (Symbol: BWX) ETFs. SSgA launches International 2008 Sectors and Emerging Markets Small Cap (Symbol: EWX) ETFs. SSgA launches the first 2009 Convertible Securities ETF (Symbol: CWB). SSgA partners with Nuveen 2010 Asset Management to provide municipal bond ETFs. SSgA also launches the first International Corporate Bond ETF (Symbol: IBND) SSgA launches three active asset 2011 allocation ETFs (Symbols: RLY, INKM, GAL). SSgA launches the SPDR 2013 Blackstone / GSO Senior Loan ETF (Symbol: SRLN), the first actively managed senior loan ETF. SSgA partners with MSCI to launch a 2014 suite of Quality Mix ETFs. (Symbols: QEMM,QAUS,QCAN,QEFA,QDEU, QJPN,QESP,QGBR,QWLD) *As of June 30, 2014.
The ETF Architect At State Street Global Advisors (SSgA), we approach investing like architects. We combine an engineer’s ability to turn complex problems into simple solutions with the practical precision of a high-end builder. Above all, we provide each of our ETFs with a firm foundation. An ETF is only as reliable as its index. That’s why we work with providers who follow a strict selection process. Institutional Quality SPDR ETFs are designed to meet the high standards of professional investors, including the pensions and endowments of the world’s largest corporations and foundations. By working with these organizations, we’ve made our products more efficient, responsive and, most of all, precise. Dedication to Excellence SSgA created the first ETF—the SPDR S&P 500 (Symbol: SPY)—20 years ago. Today, each member of the SPDR family reflects our intimate knowledge of the ETF market, not to mention our more than 30 years of indexing experience. Pioneer SSgA pioneered many of the industry’s innovations in the last 20 years, including first-to-market launches with gold, international real estate, international fixed income and sector ETFs.
A SPDR to suit each investment objective The ETF market has become flooded with hundreds of products all promising the same things: low cost, flexibility and selectivity. It’s no wonder investors have difficulty distinguishing one ETF from another. At SSgA, we believe the best ETFs are not only about ease and simplicity, but about accuracy and what they allow you to do. This belief is reflected in every member of the State Street SPDR ETF family. Core SPDR ETFs are benchmarked to an array of respected market indices. While the SPDR S&P 500 (Symbol: SPY) is one of the largest and most actively traded securities in the world, we offer domestic equity ETFs of every size.1 From small cap to comprehensive total stock market coverage, SPDR ETFs make it possible for investors to easily attain the core portfolio exposure they seek. Style Growth and value equity styles move in and out of favor over time. So we offer a modular suite of SPDR ETFs that represents the full spectrum of domestic equity markets. And they’re all classified by style. In other words, when you buy growth, that’s exactly what you get. Sector With sector ETFs, you get targeted, diversified access to specific sectors, without the risk level of single stocks. Sector ETFs can also be valuable for tactical weightings, hedging portfolio risk and year-end tax loss planning. Our Select Sector SPDRs can help you control your exposure to the US market and gain more power over your portfolio. These unique ETFs unbundle the S&P 500, so you can invest in the sectors that make the most sense to you. Industry Sometimes you have more interest in a specific industry than an entire sector. So why buy the whole pie when you only want a slice? We offer a full suite of industry SPDR ETFs that cover markets from banking to pharmaceuticals. International/Global Non-US stocks account for more than 50% of the world’s total market capitalization.2 And international equities offer tremendous diversification and return potential. At SSgA, we offer an array of developed and emerging international SPDR ETFs. So you can get diversified, liquid exposure to even the most difficult-to-reach markets. Whether you seek small-cap, geography-specific exposure or single-product access to a large swath of non-US and global markets, we’ll be able to match your needs. Commodities Commodities can be great diversifiers. Statistical analysis shows that they have a low to negative correlation with other asset classes.3 But if you really want to capture the power of commodities, your exposure should be as pure as possible. Unfortunately, direct, liquid exposure to commodities can be difficult and expensive at best— impossible at worst. SPDR Gold Shares (Symbol: GLD) was SSgA’s first foray into the commodity category and is the first-ever gold-backed exchange traded trust in the US. It offers a simplified, liquid4 and cost-efficient5 way to access gold bullion. Precisely. Fixed Income Fixed income investments offer three key benefits: diversification, income and tax advantages. With our fixed income ETFs, you get all of these benefits in one precise package. By investing in an ETF, you’ll get the performance of an entire bond portfolio, without having to constantly rebalance your holdings as the bonds mature. And as one of the largest fixed income managers in the world, we’re able to achieve economies of scale—so our funds are available at a low cost. Whatever taxable or tax-free segment or maturity range you’re interested in, these SPDR ETFs provide a smart, simple way to put your fixed income strategy to work.
STATE STREET GLOBAL ADVISORS State Street Financial Center One Lincoln Street Boston, MA 02111 866.787.2257 spdrs.com 1 arcavision.com, as of 6/30/2014. 2 FactSet, SSgA. As represented by the MSCI All Country World Index, as of 6/30/2014. 3 Zephyr StyleADVISOR, as of 6/30/2013. Based on the correlation of gold to the following asset classes as represented by indices from July 1993 to June 2013 (1.00 being perfect correlation): (1) S&P 500: 0.00; (2) Dow Jones US Select REIT: 0.09; and (3) Barclays US Aggregate Bond: 0.18. 4 Although shares of GLD have historically been readily tradeable on security exchanges, there can be no assurance that an active trading market will be maintained. 5 Frequent trading of ETFs could significantly increase commissions and other costs such that they may offset any savings from low fees or costs. FOR PUBLIC USE. IMPORTANT RISK INFORMATION ETFs at prices trade above like stocks, or below fluctuate the ETFs’ in market net asset value value. and Brokerage may trade commissions and ETF expenses will reduce returns. fluctuate The investment in value, return so that and when principal shares value are of sold an or investment redeemed will they may be worth more or less than when they were purchased. Diversification does not protect against loss. stocks, Bonds generally but contain present interest less rate short-term risk (as interest risk and rates volatility rise bond than values risk; liquidity and yields risk; and usually inflation fall); issuer risk. These default effects risk; issuer are usually credit sold pronounced or redeemed for longer-term prior to maturity securities. may Any be subject fixed income to a substantial security gain or loss. political, Commodities regulatory, contain and heightened natural conditions, risk including and market, may not commodities be suitable for through all investors. commodity-linked The strategy derivatives. will seek Derivatives exposure and to such commodity-linked as liquidity, interest derivatives rate, may market, involve credit, certain management costs and and risks the risk that a position could not be closed when most advantageous. REIT lack of funds industry may diversification. be subject to a REIT high funds degree may of market be subject risk to due other to risks economic including, conditions, but not credit limited risk to, and changes interest in rate real fluctuations estate values and or changes and defaults in the by value borrowers. of the In underlying addition to property normal owned risks associated by the trust with capital equity loss from investing, unfavorable international fluctuations investing in currency may involve values, risk from of differences adverse political, in generally social and accepted economic accounting instability principles, in other and nations. from The securities Fund invests that, in by the sampling aggregate, the approximates Index, holding the a range full Index of in terms cause of the key fund risk to factors experience and other tracking characteristics. errors relative This to may performance of the Index. Investments those in larger, in smaller better known companies companies. may involve greater risks than underlying Convertible stocks, securities but generally generally provide lower than yields comparable higher than non- the convertible securities, in exchange for limited upside potential. as Issuers those of issuing convertible securities securities with higher may not credit be as ratings financially and may strong be more with convertible vulnerable bond to changes investments in the economy. include: Call Other risk risks which associated is the risk or interest that bond rates issuers before may the repay security’s securities maturity with date; higher liquidity coupon risk which possible is the to sell risk the that investment certain types at any of investments particular time may or not at an be more acceptable sensitive price; to sudden and investments fluctuations in derivatives, in interest rates which or can market be prices, of principal. potential illiquidity of the markets, as well as potential loss illiquidity Derivative of investments the markets may and involve additional risks risk such of loss as potential of principal. The result value of the of following: the debt securities market fluctuations, may increase or decrease as a and increases interest in or interest illiquidity rates, in inability debt securities of issuers markets; to repay the principal risk of low rates falling of interest return due rates to or reinvestment repayment by of issuers securities with during higher periods coupon of or rates. interest To rates; the extent and/or that the interest risk of low rates income rise, certain due to underlying falling interest anticipated obligations may and the be paid value off of substantially those securities slower may than fall sharply. originally This may result in a reduction in income from debt securities income. Because more volatile. of their Preferred narrow Securities focus, financial are subordinated sector funds to tend bonds to be and other The municipal debt instruments, market can and be will affected be subject by adverse to greater tax, credit legislative risk. or of political municipal changes securities. and The the financial fund may condition contain interest of the issuers rate risk (as default; interest inflation rates risk; rise and bond issuer prices call usually risk. The fall); Fund the risk may of invest issuer in United U.S. dollar-denominated States. securities of foreign issuers traded in the Information or investment represented advice. Investors in this piece should does consult not constitute their legal, legal, tax, and tax, financial advisors before making any financial decisions. subject Investments to prepayment in asset backed risk which and mortgage can limit the backed potential securities for gain are during potential a declining for loss in interest a rising rate interest environment rate environment. and increases the Government moderate short-term bonds and price corporate fluctuations bonds than generally stocks, have but provide more lower potential long-term returns. Investments investment risk. in Senior Credit Loans risk refers are subject to the possibility to credit risk that and the general make borrower timely of a interest Senior payments Loan will be and/or unable repay and/or the unwilling principal on to its Senior obligation. Loan Default will result in the in a payment reduction of in interest the value or principal of the Senior on a investments Loan and consequently and a potential a reduction decrease in the in the value net of asset the Portfolio’s value (“NAV”) of the Portfolio. bonds”, Investing is in considered high yield speculative securities, otherwise and involves known greater as “junk risk of loss of income principal securities. and interest These than lower-quality investing in debt investment securities grade involve fixed greater the credit risk quality of default of the or issuer. price changes due to potential changes in These position investments without taking may a have significant difficulty discount in liquidating from current an investment market traded value, which securities. can be a significant problem with certain lightly The benchmarks. Fund is actively An investment managed in and the may fund underperform is not appropriate its for all program. investors Investing and is not in the intended fund involves to be a risks, complete including investment the risk that investors investors may may lose receive part little or even or no all return of the on investment. the investment or that QEMM, “value” style QAUS,QCAN,QEFA,QDEU,QJPN,QESP,QEBR,QWLD: of investing emphasizes undervalued companies A is with subject characteristics to the risk for that improved the valuations valuations. never This improve style or of that investing the styles returns of on investing “value” or equity the overall securities stock are market. less than returns on other QEMM, Although QAUS,QCAN,QEFA,QDEU,QJPN,QESP,QEBR,QWLD: subject to the risks of common stocks, low volatility stocks markets. are However, seen as having a fund athat lower invests risk profile in low volatility than the overall stocks may not changes produce in such investment stocks’ price exposure levels. that has lower variability to QEMM, A “quality” QAUS,QCAN,QEFA,QDEU,QJPN,QESP,QEBR,QWLD: style of investing emphasizes companies with high investing returns, stable is subject earnings, to the and risk low that financial the past leverage. performance This of style these of securities companies are does less not than continue returns or on that other the styles returns of on investing “quality” or equity the overall stock market. QDEU,QJPN, capitalizations QESP,QEBR,QWLD go in and out of favor :Companies based on with market large and market economic than companies conditions. with smaller Larger companies market capitalizations. tend to be less In exchange volatile for as much this potentially as companies lower with risk, smaller the value market of the capitalizations. security may not rise issuers Non-diversified tend to be funds more that volatile focus than on a diversified relatively small funds number and the of market as a whole. Actively of a specified managed index. ETFs do not seek to replicate the performance include: Risks associated large price with volatility investing due in to the non-diversification natural resources and sector concentration in natural resources companies. protected Increase in debt real securities interest rates to decrease. can cause Interest the price payments of inflation- on inflation-protected debt securities can be unpredictable. may Risk fluctuate associated in with response equity to investing the activities include of individual stock values companies which and general market and economic conditions. including Foreign investments political and involve economic greater risks risks and than the risk US of investments, currency fluctuations, all of which may be magnified in emerging markets. managed, Because the they SPDR are SSgA therefore Active subject Asset to Allocation the risk that ETFs the are investments actively selected their benchmarks by SSgA or may other cause funds the with ETFs similar to underperform investment relative objectives. to Important Information Relating to SPDR Gold Shares Trust: The statement SPDR Gold (including Shares a prospectus) Trust (“GLD”) with has the filed Securities a registration and Exchange communication Commission relates. (“SEC”) Before for you the invest, offering you to should which read this the GLD prospectus has filed in with that registration the SEC for more statement complete and other information documents about GLD and this offering. You may get these documents for free continued on next page SPDR
continued spdrgoldshares. by visiting EDGAR com. on Alternatively, the SEC website the at Trust sec. or gov any or authorized by visiting participant by calling 866.320.4053. will arrange to send you the prospectus if you request it GLD Investment is not an Company investment Act company of 1940 (the registered “1940 Act”) under and the is not subject (the “CEA”) to regulation . As a result, under shareholders the Commodity of the Exchange Trust do not Act have of 1936 the company protections registered associated under with the ownership 1940 Act of or shares the protections in an investment afforded by the CEA. GLD will fluctuate shares trade in market like stocks, value. are The subject value of to GLD investment shares relates risk and directly and fluctuations to the value in the of price the gold of gold held could by GLD materially (less its expenses), and adversely sale affect of an the investment shares, which in the trade shares. at market The price price, received may be upon more the or less generate than any the value income, of the and gold as GLD represented regularly by sells them. gold GLD to pay does for not its will ongoing decline expenses, over time. the Investing amount of involves gold represented risk, and you by could each Share lose for money a detailed on an investment discussion of in the GLD risks . Please of investing see the GLD in GLD prospectus shares. One For more Lincoln information: Street, Boston, State MA, Street 02111, Global 866 Markets, .320.4053, LLC, spdrgoldshares.com Not FDIC Insured – No Bank Guarantee – May Lose Value “Dow Jones Industrial AverageSM”, “DJIA®”, “Dow Jones®” and “The Dow®” are trademarks and service marks of Standard & Poor’s S&P Dow Financial Jones Services Indices LLC LLC (“S&P”) and have and been sublicensed licensed for for use use by by and State NYSE Street Arca, Global Inc .Markets, are permitted LLC. The to use Trust, these PDR trademarks Services LLC and service sponsored, marks endorsed, pursuant sold to separate or promoted “Sublicenses by S&P, its.” affiliates The Trust or is its not third party licensors. Services “SPDR” is LLC a registered (“S&P”) and trademark has been of licensed Standard for & use Poor’s by State Financial Street S&P MIDCAP Corporation 400 are . STANDARD registered & trademarks POOR’S, S&P, of Standard S&P 500 & and Poor’s Financial Services LLC. No financial product offered by State promoted Street Corporation by S&P or or its its affiliates, affiliates and is sponsored, S&P and its endorsed, affiliates sold make or of no buying, representation, selling or warranty holding units/shares or condition regarding in such products the advisability . Further rights limitations are described and important in the information prospectus that for the could applicable affect investors’ product. State products Street on behalf Global of Markets, the advisor LLC. is SSgA the distributor Funds Management for all registered has retained the sub-advisor GSO Capital . Partners and Nuveen Asset Management as SIPC, Distributor: a wholly State owned Street subsidiary Global Markets, of State LLC, Street member Corporation FINRA, . References and its affiliates to State . Certain Street State may Street include affiliates State Street provide Corporation services and registered receive broker fees—from dealer, the is SPDR distributor ETFs. ALPS for SPDR Distributors, S&P 500, Inc SPDR ., a S&P all unit MidCap investment 400 and trusts SPDR . ALPS Dow Portfolio Jones Industrial Solutions Average, Distributor, and Inc . ALPS is distributor Portfolio for Solutions Select Sector Distributor, SPDRs Inc . ALPS . are Distributors, not affiliated Inc with . and State Street Global Markets, LLC. Before investing, consider the funds’ investment objectives, risks, charges and expenses.To obtain a prospectus or summary prospectus which contains this and other information, call 866.787.2257 or visit spdrs.com. Read it carefully. © 2014 State Street Corporation. All Rights Reserved. ID1713-IBG-12252 Exp. Date: 8/31/2015 IBG.FETFB.0714 SPDR
SPDR® GOLD TRUST has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the Trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Trust or any Authorized Participant will arrange to send you the prospectus if you request it by calling toll free at 1-866-320-4053 or contacting State Street Global Markets, LLC, One Lincoln Street, Attn: SPDR® Gold Shares, 30th Floor, Boston, MA 02111.