Microsectors U.S. Big Oil 3x Leveraged ETNs (MicroSectors U.S. Big Oil 3 Lev) ETF

The ETNs are senior unsecured medium-term notes issued by Bank of Montreal with a return linked to a three times leveraged participation in the inverse performance of the index, compounded daily, minus the Daily Investor Fee and, if applicable, the Redemption Fee Amount plus the Daily Interest (which could be negative).