Core Four 60/40 Allocation Portfolio Series 25

The Trust seeks to provide current income with the potential for capital appreciation by primarily investing in dividend-paying stocks of U.S.-listed companies along with shares of exchange-traded funds (“ETFs”) that invest substantially all of their assets in fixed-income securities.

The trust is comprised of four sleeves, each with a unique strategy to address the needs or concerns of individuals at any stage of planning and preparing for retirement: i) income, ii) growth of income, iii) stability of principal, and iv) capital appreciation. As of the security selection date, the trust portfolio is constructed with an asset allocation of 60% equity securities and 40% ETFs substantially invested in fixed income securities. Of the 60% in equity securities, at least approximately 20% will be invested in growth stocks due to the capital appreciation sleeve.

The sponsor has selected the securities to be included in the Trust’s portfolio. The U.S.-listed common stocks held by the Trust may include the common stocks of small-, mid- or large-capitalization U.S. and non-U.S. companies, including ADRs, GDRs and New York Registry Shares. A non-U.S. company is a company for which the primary market is outside the United States. The non-U.S. securities may be issued by companies located in emerging markets. An emerging market economy is the economy of a developing nation that is becoming more engaged with global markets as it grows. Emerging market economies have some, but not all, of the characteristics of a developed market. Certain of the common stocks included in the trust portfolio may be issued by real estate investment trusts (“REITs”).

The fixed-income ETFs included in the portfolio invest in debt securities rated investment-grade through below investment-grade or may be unrated but deemed to be of comparable quality by an ETF’s adviser. The debt securities may include, but are not limited to, corporate bonds, senior loans, mortgagebacked securities and municipal bonds. Highyield, below investment-grade securities or “junk” bonds are considered to be primarily speculative with respect to the issuer’s ability to make principal and interest payments and may be more volatile than higher rated securities of similar maturity. Additionally, they are subject to greater market, credit and liquidity risks than investment-grade securities. Additionally, the fixed-income ETFs may invest in debt securities with any maturity term. The fixed-income ETFs included in the portfolio may also invest in debt securities issued by foreign companies, including companies located in emerging markets.

As of the date of deposit, this Trust will hold a significant amount of its assets in growth stocks, mid-, and large-capitalization companies and ETFs holding fixed-income securities, including high-yield securities.

Income Sleeve

Approximately 30% of the Trust portfolio will constitute securities that seek to deliver high income,meaning a greater than average income generation as described below. The sponsor will select higher dividend-yielding, U.S.-listed equity securities with attractive valuations and company fundamentals (including positive earnings, analysis of debt to equity leverage and comparison of current price to potential cashflow generation), and dividend growth rates (for approximately 20% of the trust portfolio), and higher yielding fixed income asset classes accessed through ETFs (approximately 10% of the trust portfolio). The selected equity securities will have greater dividend yields than the average yield of a broad based U.S. stock benchmark while the selected fixed income ETFs will have greater current dividend yields than the average yield of a broad based U.S. fixed income benchmark. The sponsor focuses on macro and sector views (including economic, interest rate and yield curve projections and insights into individual fixed income sectors) when selecting ETFs that it believes hold higher yielding fixed income asset classes.

Growth of Income Sleeve

Approximately 20% of the Trust portfolio will hold U.S.-listed equity companies that have shown the historical ability and willingness to increase their dividend distributions annually for a minimum number of years (five years for small- or mid-capitalization companies and ten years for large-capitalization companies). The companies selected for this sleeve have attractive valuations (based on measures such as price-to-earnings, price-to-book and price-to-cash-flow), financial strength (based on the quality of the company’sbalance sheet), history of growth and profitability, and dividend growth rates. The companies will be ranked and selected according to their gross dividend yield and three-year dividend growth rates, and will include large, mid and small capitalization names.

Stability of Principal Sleeve

Approximately 30% of the Trust portfolio seeks to reduce potential volatility of the overall portfolio by investing in ETFs that hold at least 80% of their portfolios in investment grade fixed income securities, including, but not limited to, treasuries, government inflation protection bonds, fixed and floating rate corporate bonds, mortgage-backed securities and municipal bonds. The sponsor focuses on macro and sector views when selecting these ETFs.

Capital Appreciation Sleeve

Approximately 20% of the trust portfolio seeks to provide growth of principal by investing in large-cap, U.S.-listed “blue chip” growth companies with attractive valuations (based on measures such as price-to-earnings, price-tobook and price-to-cash-flow relative to the company’s competitors as well as to the market as a whole), cash-flow adequacy (companies with recent earnings and operating cash-flow significantly higher than the dividends paid as of the company’s most recent financial reporting period), a history of growth and profitability (above average growth of dividends, sales and earnings), and industry leadership positions (companies that have a strong competitive position among their peers based on sales growth and market share). A blue chip company is a nationally recognized company with a long-term reputation for quality, reliability and financial strength. The sponsor will select the most attractive candidates from each sector for expected performance and risk.

Final Portfolio

Securities in the final portfolio will be cross-referenced against

As with all investments, you may lose some or all of your investment in the Trust. No assurance can be given that the Trust’s investment objective will be achieved. The Trust also might not perform as well as you expect. This can happen for reasons such as these:

• Securities prices can be volatile. The value of your investment may fall over time. Market value fluctuates in response to various factors. These can include stock market movements, purchases or sales of securities by the Trust, government policies, litigation, and changes in interest rates, inflation, the financial condition of the securities’ issuer or even perceptions of the issuer. Changes in legal, political, regulatory, tax and economic conditions may cause fluctuations in markets and securities prices, which could negatively impact the value of the Trust. Additionally, event such war, terrorism, natural and environmental disasters and the spread of infectious illnesses or other public health emergencies may adversely affect the economy, various markets and issuers. An outbreak of a novel form of coronavirus disease (“COVID-19”) was first detected in December 2019 and rapidly spread around the globe leading the World Health Organization to
  declare the COVID-19 outbreak a pandemic in March 2020 and resulting in major disruptions to economies and markets around the world. The complete economic impacts of COVID-19 are not 
  yet fully known. The COVID-19 pandemic, or any future public health crisis, is impossible to  predict and could result in adverse market conditions which may negatively impact the
  performance of the Trust and the Trust's ability to achieve its investment objectives.
• Securities selected according to this strategy may not perform as intended. The Trust is exposed to additional risk due to its policy of investing in accordance with an investment strategy. Although the Trust's investment strategy is designed to achieve the Trust's investment objective, the strategy may not prove to be successful. The investment decisions, including the selection methodologies used to determine the holdings of the four portfolio sleeves, may not produce the intended results and there is no guarantee that the investment objective will be achieved.
• The Trust invests in “growth” stocks. Growth stocks are issued by companies which, based upon their higher than average price/book ratios, are expected to experience greater earnings growth rates relative to other companies in the same industry or the economy as a whole. Securities of growth companies may be more volatile than other stocks. If the perception of a company’s growth potential is not realized, the securities purchased may not perform as expected, reducing the trust’s return. In addition, because different types of stocks tend to shift in and out of favor depending on market and economic conditions, “growth” stocks may perform differently from the market as a whole and other types of securities. 
• The Trust invests in shares of ETFs. ETFs are investment pools that hold other securities. The ETFs in the Trust may be passively-managed index funds that seek to replicate the performance or composition of a recognized securities index. ETFs are subject to various risks, including management’s ability to meet the fund’s investment objective. Shares of ETFs may trade at a premium or discount from their net asset value in the secondary market. If the Trust has to sell an ETF share when the share is trading at a discount, the Trust will receive a price that is less than the ETF’s net asset value. This risk is separate and distinct from the risk that the net asset value of the ETF shares may decrease. The amount of such discount from net asset value is subject to change from time to time in response to various factors. The underlying ETF has management and operating expenses. Consequently, you will bear not only your share of your Trust’s expenses, but also the expenses of the underlying ETFs. By investing in ETFs, the Trust incurs greater expenses than you would incur if you invested directly in the ETFs.
• The ETFs are subject to annual fees and expenses, including a management fee. Unitholders of the Trust will bear these fees in addition to the fees and expenses of the Trust. See “Fees and Expenses” for additional information.
• The Trust is subject to an ETF’s index correlation risk. To the extent that an underlying ETF is an index tracking ETF, index correlation risk is the risk that the performance of an ETF will vary from the actual performance of the fund’s target index, known as “tracking error.” This can happen due to fund expenses, transaction costs, market impact, corporate actions (such as mergers and spin-offs) and timing variances.
• The value of the fixed-income securities in the ETFs will generally fall if interest rates, in general, rise. Typically, fixed-income securities with longer periods before maturity are more sensitive to interest rate changes. The trust may be subject to greater risk of rising interest rates than would normally be the case due to the current economic environment and the effect of potential government fiscal policy initiatives and resulting market reaction to those initiatives.
• An ETF or an issuer of securities held by an ETF may be unwilling or unable to make principal payments and/or to declare distributions in the future, may call a security before its stated maturity, or may reduce the level of distributions declared. Issuers may suspend distributions during the life of the Trust. This may result in a reduction in the value of your units.
• The financial condition of an ETF or an issuer of securities held by an ETF may worsen, resulting in a reduction in the value of your units. This may occur at any point in time, including during the primary offering period.
• Economic conditions may lead to limited liquidity and greater volatility. The markets for fixed-income securities, such as those held by certain ETFs, may experience periods of illiquidity and volatility. General market uncertainty and consequent repricing risk have led to market imbalances of sellers and buyers, which in turn have resulted in significant valuation uncertainties in a variety of fixed-income securities. These conditions resulted, and in many cases continue to result in, greater volatility, less liquidity, widening credit spreads and a lack of price transparency, with many debt securities remaining illiquid and of uncertain value. These market conditions may make valuation of some of the securities held by an ETF uncertain and/or result in sudden and significant valuation increases or declines in its holdings.
• Certain ETFs held by the Trust invest in securities that are rated below investment-grade and are considered to be “junk” securities. Below investment-grade obligations are considered to be primarily speculative with respect to the issuer’s ability to make principal and interest payments and may be more volatile than higher rated securities of similar maturity. Additionally, they are subject to greater market, credit and liquidity risks than investment-grade securities. Accordingly, the risk of non-payment or default is higher than with investment-grade securities. In addition, such securities may be more sensitive to interest rate changes and more likely to receive early returns of principal in falling rate environments.
• Certain ETFs held by the Trust may invest in securities that are rated as investment-grade by only one rating agency. As a result, such split-rated securities may have more speculative characteristics and are subject to a greater risk of default than securities rated as investment-grade by more than one rating agency. 
• The Trust invests in securities issued by mid-capitalization companies and certain ETFs held by the Trust may invest in securities issued by small-capitalization and mid-capitalization companies. These securities customarily involve more investment risk than securities of large-capitalization companies. Small-capitalization and mid-capitalization companies may have limited product lines, markets or financial resources and may be more vulnerable to adverse general market or economic developments.
• Share prices or dividend rates on the securities in the Trust may decline during the life of the Trust. There is no guarantee that share prices of securities in the Trust will not decline and that the issuers of the securities will declare dividends in the future and, if declared, whether they will remain at current levels or increase over time.
• The Trust may be susceptible to potential risks through breaches in cybersecurity. A breach in cybersecurity refers to both intentional and unintentional events that may cause the Trust to lose proprietary information, suffer data corruption or lose operational capacity. Such events could cause the Sponsor of the Trust to incur regulatory penalties, reputational damage, additional compliance costs associated with corrective measures and/or financial loss. In addition, cybersecurity breaches of the Trust’s third-party service providers, or issuers in which the Trust invests, can also subject the Trust to many of the same risks associated with direct cybersecurity breaches.
• The Trust is subject to risks arising from various operational factors and their service providers. Operational factors include, but not limited to, human error, processing and communication errors, errors of the Trust’s service providers, counterparties or other third-parties, failed or inadequate processes and technology or systems failures. Additionally, the Trust may be subject to the risk that a service provider may not be willing or able to perform their duties as required or contemplated by their agreements with the Trust. Although the Trust seeks to reduce these operational risks through controls and procedures, there is no way to completely protect against such risks.
• Inflation may lead to a decrease in the value of assets or income from investments.
• The Sponsor does not actively manage the portfolio. The Trust will generally hold, and may, when creating additional units, continue to buy, the same securities even though a security’s outlook, market value or yield may have changed.

See “Investment Risks” in Part A of the prospectus and “Risk Factors” in Part B of the prospectus for additional information.