Round lots
A single NASDAQ-100 Index Tracking Stock can be looked upon as a "share" in the portfolio of NASDAQ-100 Index stocks held in the NASDAQ-100 Trust. Just as a typical round lot for stock is 100 shares, a round lot for NASDAQ-100 Index Tracking Stock is 100 shares. NASDAQ-100 Index Tracking Stock trade in round lots as well as odd lots (i.e., fewer than 100 shares) on NASDAQ.

Pricing
NASDAQ-100 Index Tracking Stock was designed to provide investors with a security whose initial market value would approximate 1/40th the value, as adjusted, of the NASDAQ-100 Index. Thus, if the NASDAQ-100 Index was at 2,000, you could reasonably expect NASDAQ-100 Index Tracking Stock to trade in the range of $50. As with any traded security, prices also will be affected by market forces, including supply and demand and other factors. Due to these factors as well as other factors including required distributions for tax purposes or the sale of securities to meet Trust expenses, the initial 1/40th relationship is not expected to persist indefinitely.

Margin eligibility
NASDAQ-100 Index Tracking Stock may be purchased on margin, generally subject to the same terms that apply to common stocks. You should contact your broker regarding initial and maintenance margin requirements.

Short selling on a "downtick"
NASDAQ-100 Index Tracking Stock, unlike common stock, is exempt from the rule that requires shares to be sold short only on an uptick (i.e., a last-sale price higher than that of the security's preceding last sale). Thus, NASDAQ-100 Index Tracking Stock may be sold short on a downtick - a key feature for active investors.

Brokerage commissions
Although NASDAQ-100 Index Tracking Stock is not subject to sales loads, ordinary brokerage commissions for purchases and sales apply.

Dividends
Holders of NASDAQ-100 Index Tracking Stock are eligible to receive their portion of dividends, if any, accumulated quarterly on the stocks of the Nasdaq-100 Index held in the Trust, if dividends exceed Trust fees and expenses.

Net Asset Value
The net asset value (NAV) of NASDAQ-100 Index Tracking Stock is computed each business day at the close of trading on The NASDAQ Stock Market (normally 4 p.m., New York time). NAV represents the aggregate closing market value of the underlying Trust portfolio of the NASDAQ-100 Index securities plus any accrued dividends and other Trust assets, minus accumulated Trust expenses and other Trust liabilities, on a per-NASDAQ-100 Index Tracking Stock basis. NASDAQ-100 Index Tracking Stock NAV is disseminated under the ticker symbol "QQQQN." The actual closing price at 4:00 p.m. of NASDAQ-100 Index Tracking Stock is published in NASDAQ stock tables found in most major newspapers the following day.