If Zion Bancorporation is officially removed from the S&P 500, or it is announced that it will be removed, before Jan 1, 2026, then the market resolves to Yes.

An announcement by the index provider that the company will be removed is sufficient for resolution, even if the actual removal occurs after the deadline. Removal includes deletion due to eligibility criteria failures, mergers where the company ceases to exist independently, bankruptcy, delisting, or index rebalancing that excludes the company. Temporary suspensions, watchlist additions, or weight changes without removal do not qualify. For companies with multiple share classes, all classes must be removed. If the company is removed and then re-added before the deadline, the market still resolves to Yes.

Series KXSP500INDEXREMOVE-26JAN01 Event KXSP500INDEXREMOVE-26JAN01 Market KXSP500INDEXREMOVE-26JAN01-ZION