State Street To Begin Trading The SPDR Barclays Capital Short Term Corporate Bond ETF (SCPB) Thursday

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December 15, 2009 11:31am NYSE:SCPB

statestreetState Street Global Advisors will begin trading its new “SPDR Barclays Capital Short Term Corporate Bond ETF” (SCPB) this Thursday, December 17th. We do not have an updated prospectus for this, as we have been directed to the SPDRS website for the final draft. We have, however,


provided an old filing with the SEC for this fund. Please do not rely on the following, as there could be changes that we are unaware of. (Please e-mail if you have any updated information).

INVESTMENT OBJECTIVE

The SPDR Barclays Capital Short Term Corporate Bond ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of an index that tracks the short term U.S. corporate bond market. There is no assurance that the Fund will achieve its investment objective. The Fund may change its investment objective without shareholder approval.

THE FUND’S INVESTMENT STRATEGY

In seeking to track the performance of the Barclays Capital 1-3 Year U.S. Corporate Investment Grade Index (the “Index”), the Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index. Instead, the Fund may purchase a subset of the securities in the Index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the Index. The quantity of holdings in the Fund will be based on a number of factors, including asset size of the Fund. SSgA Funds Management, Inc. (“SSgA FM” or the “Adviser”) generally expects the Fund to hold less than the total number of securities in the Index, but reserves the right to hold as many securities as it believes necessary to achieve the Fund’s investment objective.

Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index or in securities that the Adviser has determined have economic characteristics that are substantially identical to the economic characteristics of the securities that comprise the Index. The Fund will provide shareholders with at least 60 days notice prior to any material change in this 80% investment policy. In addition, the Fund may invest in securities that are not included in the Index, futures, options, swap contracts and other derivatives, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including money market funds advised by the Adviser). The Adviser anticipates that, under normal market conditions, it may take approximately five business days for additions and deletions to the Index to be reflected in the portfolio composition of the Fund.

Barclays Capital 1-3 Year U.S. Corporate Investment Grade Index. The Index is designed to measure the performance of publicly issued U.S. dollar denominated corporate issues that have a remaining maturity of greater than or equal to 1 year and less than 3 years. The Index includes publicly issued U.S. dollar denominated corporate issues that have a remaining maturity of greater than or equal to 1 year and less than 3 years, are rated investment grade (must be Baa3/BBB- or higher using the middle rating of Moody’s Investor Service, Inc., Standard & Poor’s, and Fitch Rating), and have $250 million or more of outstanding face value. In addition, the securities must be Securities and Exchange Commission (“SEC”) registered, denominated in U.S. dollars fixed rate and non-convertible. The Index includes only corporate sectors. The corporate sectors are Industrial, Utility, and Financial Institutions, which include both U.S. and non-U.S. corporations. Excluded from the Index are structured notes with embedded swaps or other special features, private placements, floating rate securities, and Eurobonds. The Index is market capitalization weighted and the securities in the Index are updated on the last business day of each month. As of September 30, 2009, there were approximately [_____] securities in the Index and the modified adjusted duration of securities in the Index was approximately [_____] years.

For the link to this prospectus click: HERE

For the link to the upcoming final prospectus click: HERE

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