UNITED STS BRENT OIL FD LP UNIT

The United States Brent Oil Fund® LP (BNO) is an exchange-traded security designed to track the daily price movements of Brent crude oil. BNO issues shares that may be purchased and sold on the NYSE Arca.The investment objective of BNO is for the daily changes in percentage terms of its shares' NAV to reflect the daily changes in percentage terms of the spot price of Brent crude oil, as measured by the daily changes in price of BNO's Benchmark Oil Futures Contract, less BNO's expenses.