BNP Paribas Easy MSCI USA UCITS ETF - EUR ACC ETF

The Sub-Fund (the 'Fund') seeks to replicate the performance of the MSCI USA (NTR) (Bloomberg: NDDUUS Index) (the 'Index'). The Fund pursues a passively managed (index tracking) strategy. In order to achieve its investment objective, the Fund will generally seek to replicate the Index by holding all of the Index equity securities in a similar proportion to their weighting in the Index (Full Replication as defined in the Prospectus). The Fund may also employ Optimised Replication (as defined in the Prospectus) and select Index equity securities in order to build a representative portfolio that provides a return that is comparable to that of the Index. The Index is a US equity index which measures the performance of large and mid-cap equity securities.