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LONDON - HANetf Multi-Asset ETC Issuer Plc announced Tuesday it will update the terms and conditions for its YieldMax MSTR Option Income Strategy ETC (ISIN:XS3087774306) to address changes in the underlying asset’s distribution schedule.
The update comes in response to a September 18 announcement from the issuer of the underlying asset, YieldMax MSTR Option Income Strategy ETF (MSTY), which is changing its distribution frequency from monthly to weekly effective October 15.
Due to operational constraints from key service providers, HANetf will be unable to match the weekly payment schedule. Instead, the company will implement a technical amendment to hold the weekly distributions in a secured custody account until the monthly coupon payment date.
The amendment will also ensure that the value of these distributions is reflected in the calculation of the asset entitlement. HANetf will pay the total of all payments received during the month as a single aggregate dividend until a shorter frequency becomes possible.
The company stated that these changes are "not materially prejudicial to the interests of Securityholders" and will take effect upon trustee agreement on or after October 9, 2025.
The updated base prospectus terms and conditions will be included in the latest base prospectus, according to the press release statement.
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