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U.S. Volatility

These Notes have been delisted and further issuance has been suspended. See press release for details.

S&P 500 VIX Futures Indices

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877-5 VELOCITY (877-583-5624)

Each respective issuer has filed a registration statement (including a prospectus and related supplements) with the Securities and Exchange Commission (SEC) for the securities described herein. Before investing, please read these documents carefully to understand the terms and risks of the ETNs and other considerations that are important in making a decision about investing in the ETNs. These documents are available without cost by visiting EDGAR on the SEC website at www.sec.gov or by calling toll-free 877.5.VELOCITY (877.583.5624).

Click the name for additional important information including objectives, risks, performance history and expense detail.

This is for informational purposes only. Nothing herein constitutes a recommendation to buy or sell securities. Investors should review the prospectus and related supplements for each applicable security, including the risk factors set forth therein, and make their own investment decisions based on their specific investment objectives and financial position and after consulting independent tax, accounting, legal and financial professionals.

Investing involves risk, including the possible loss of principal and fluctuation of value.

An investment in the ETNs involves significant risks. Please consult the applicable prospectus and related supplements for further details on the calculation of the returns and the risks associated with investing in the product.

The ETNs are complex securities and are not suitable for all investors. They are intended only for sophisticated investors who understand the potential consequences of seeking inverse or leveraged investment results, as applicable. The ETNs are intended to be short-term trading tools to manage short-term trading risks. They are designed to approximate their stated investment objectives on a daily basis. Due to the compounding of daily returns, holding periods of greater than one day can result in returns that are significantly different than the target return or stated objective. Investors should actively and frequently monitor their investments in the ETNs, even intra-day. The ETNs are fully exposed to a decline in the level of the applicable Index and investors may lose all or a significant portion of their investment in the ETNs.

NOT FDIC-INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

Janus Henderson Distributors provides certain services relating to the placement and marketing of the ETNs to institutional investors. Janus Henderson and the Issuer(s) are not affiliated.

Janus Henderson Group plc ©