OUSA

The investment seeks to track the performance (before fees and expenses) of the O'Shares U.S. Quality Dividend Index. The target index is designed to reflect the performance of publicly listed large capitalization and mid-capitalization dividend-paying issuers in the United States exhibiting high quality, low volatility and high dividend yields, as determined by O'Shares Investment Advisers, LLC (the "index provider"). Under normal market conditions, the fund will invest at least 80% of its total assets in the components of the target index.