MacroShares $100 Oil Down Trust (the Down Trust) issues MacroShares $100 Oil Down Shares. The underlying value (UV) of MacroShares $100 Oil Down tracks the spot price of West Texas Intermediate light, sweet crude oil (WTI) in an inverse manner. The objective of the Down Trust is to provide investors with investment returns that correspond inversely with the price of NYMEX crude oil futures within the range from zero to twice the starting level of that price on or about the date of the first issuance of the shares.