{
    "type": "ETP",
    "ucits": false,
    "replication_method": "physical",
    "leverage": true,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Leverage",
        "Daily Compounding",
        "Margin Borrowing"
    ],
    "classification": "complex",
    "supporting_data": "The product is a Collateralised Exchange Traded Security (ETP) that seeks to provide 3x the daily return of The Boeing Company stock by investing directly in the underlying shares and using margin borrowing to achieve leverage. The replication method is physical, with full ownership of the underlying assets, and no use of swaps or derivative instruments as part of the investment strategy. However, the product employs 3x leverage through margin borrowing, daily rebalancing, and compounding effects, which significantly increase complexity and risk. The risk indicator is at the highest level (7/7), indicating very high risk. The product is intended for sophisticated investors who understand leverage, daily rebalancing, and compounding risks, and it is not principal protected. The product is not UCITS compliant. The complexity arises primarily from the leverage factor, daily compounding effects, and margin usage, which can cause returns over periods longer than one day to deviate significantly from a simple 3x multiple of the underlying asset's return. There is no use of swaps or derivatives for replication, and no capital protection or structured features. The PRIIPs KID and factsheet confirm no swap usage and physical replication. The product carries a complexity warning and is explicitly described as 'not simple and may be difficult to understand,' reinforcing the classification as complex under MiFID II."
}