CHICAGO, IL , announced today the anticipated listing of a
NASDAQ-100 BuyWrite portfolio and a Nasdaq Internet portfolio. Both
new ETFs are expected to begin trading June 12, 2008, on the NASDAQ
Stock Market.
The anticipated ticker symbols and ETF portfolio names
follow:
-- PQBW - PowerShares NASDAQ-100 BuyWrite Portfolio
-- PNQI - PowerShares Nasdaq Internet Portfolio
"The PowerShares NASDAQ-100 BuyWrite Portfolio provides a
convenient, lower cost way for investors to access a covered call
strategy on the 100 largest non-financial companies listed on the
NASDAQ," said Bruce Bond, president and CEO of Invesco PowerShares.
"Investors may use this product to complement the PowerShares
QQQ(TM) in their portfolios.
"Additionally, the PowerShares Nasdaq Internet Portfolio
represents one of the broadest ETF internet funds available to
investors, and delivers the added benefits inherent to the ETF
structure."
The PowerShares NASDAQ-100 BuyWrite Portfolio (PQBW) is based on
the CBOE NASDAQ-100 BuyWrite Index(TM). The Index measures the
total rate of return of an NASDAQ-100� covered call strategy, which
consists of holding a portfolio indexed to the NASDAQ-100, and
selling a succession of one-month at-the-money NASDAQ-100� call
options. The CBOE NASDAQ-100 BuyWrite Index(TM) assumes that call
options are written on the third Friday of each month, held until
their expiration, and exercised options are settled in cash.
The PowerShares Nasdaq Internet Portfolio (PNQI) is based on the
NASDAQ Internet Index. The Index is designed to track the
performance of the largest and most liquid U.S.-listed companies
engaged in internet-related businesses. The modified market
capitalization index is rebalanced quarterly, and includes internet
software and services companies that are involved in
internet-related services, internet software, website services and
e-commerce.
Invesco PowerShares is leading the intelligent ETF revolution
through its family of more than 100 domestic, international and
active exchange-traded funds. With assets under management as of
April 30, 2008 of $13.86 billion, PowerShares ETFs trade on all of
the major U.S. stock exchanges that trade ETFs. For more
information, please visit us at www.invescopowershares.com.
Invesco PowerShares is a part of Invesco Ltd., a leading
independent global investment management company dedicated to
helping people worldwide build their financial security. By
delivering the combined power of its distinctive worldwide
investment management capabilities, including AIM, Atlantic Trust,
Invesco, Perpetual, PowerShares, Trimark, and WL Ross, Invesco
provides a comprehensive array of enduring investment solutions for
retail, institutional and high-net-worth clients around the world.
Operating in 20 countries, the company is currently listed on the
New York Stock Exchange under the symbol IVZ. Additional
information is available at www.invesco.com.
There are risks involved with investing in ETFs including
possible loss of money. Shares are not actively managed and are
subject to risk similar to stocks and covered call options, as well
as those risks related to short selling and margin maintenance.
Options strategies used by the fund may not be suitable for all
investors.
Shares are not FDIC insured, may lose value and have no bank
guarantee.
PowerShares NASDAQ-100 BuyWrite Portfolio Risk Information
There are additional risks involved in writing (selling) covered
call options on the stocks of the S&P 500 Index (Index). The
Fund, by writing covered call options on this Index, will give up
the opportunity to benefit from potential increases in the value of
the index stocks above the exercise prices of the options, but will
continue to bear the risk of declines in the value of the Index.
The premiums received from the options may not be sufficient to
offset any losses sustained from the volatility of the Index over
time.
In addition, exchanges may suspend trading of options in
volatile markets. If trading is suspended, the Fund may be unable
to write (sell) options at times that may be desirable or
advantageous for the Fund to do so. Trading suspensions may limit
the Fund's ability to achieve its investment objectives. The Fund
may be required to sell investments from its portfolio to make cash
settlement on (or transfer ownership of an Index stock to
physically settle) any options that are exercised. Such sales (or
transfers) may occur at inopportune times, and the Fund may incur
transaction costs that increase its expenses.
PowerShares NASDAQ Internet Portfolio Risk Information
The Fund is considered to be concentrated in the internet
software and services sector. This involves risks not associated
with a more diversified investment. These risks include, but are
not limited to, the internet software and services sector can be
significantly affected by competitive pressures, such as
technological developments, fixed-rate pricing and the ability to
attract and retain skilled employees, and the success of companies
in the industry is subject to the continued demand for internet
services. For example, as product cycles shorten and manufacturing
capacity increases, these companies could become increasingly
subject to aggressive pricing, which hampers profitability.
Profitability can also be affected by changing domestic and
international demand, research and development costs, availability
and price of components and product obsolescence.
Investing in securities of small and medium capitalization
companies involves greater risk than is customarily associated with
investing in larger, more established companies. These companies'
securities may be more volatile and less liquid than those of more
established companies. These securities may have returns that vary,
sometimes significantly, from the overall securities market. Often
small and medium capitalization companies and the industries in
which they are focused are still evolving and this may make them
more sensitive to changing market conditions.
The Chicago Board Options Exchange is the index provider for the
PowerShares NASDAQ-100 BuyWrite Portfolio. CBOE is not affiliated
with the Trust, the Adviser or the Distributor. The Adviser has
entered into a license agreement with the Index Provider to use the
Underlying Index. The PowerShares NASDAQ-100 BuyWrite Portfolio is
entitled to use its respective Underlying Index pursuant to a
sublicensing arrangement with the Adviser.
PowerShares� is a registered trademark of Invesco PowerShares
Capital Management LLC. Invesco PowerShares Capital Management LLC.
And Invesco Aim Distributors, Inc. are indirect, wholly owned
subsidiaries of Invesco Ltd.
Invesco Aim Distributors, Inc. is the distributor of the
PowerShares Exchange-Traded Fund Trust.
The information in the prospectus is not complete and may be
changed. The portfolio may not sell its shares until the
registration statement filed with the Securities and Exchange
Commission is effective. The prospectus is not an offer to sell the
portfolio shares, nor is the portfolio soliciting an offer to buy
its shares in any jurisdiction where the offer or sale is not
permitted.
An investor should consider the Fund's investment objectives,
risks, charges and expenses carefully before investing. For a copy
of the prospectus which contains this and other information about
the Fund call 800.983.0903. Please read the prospectus carefully
before investing.
Shares are not individually redeemable and owners of the shares
may acquire those shares from the Funds and tender those shares for
redemption to the Funds in Creation Unit aggregations only,
typically consisting of 100,000 shares.
Media Contacts: Kristin Sadlon Porter Novelli 212-601-8192 Email
Contact Bill Conboy BC Capital Partners 303-415-2290 Email
Contact
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