Investor Education

Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Zero Coupon Bond (Zeros)

A debt security without a stated or nominal interest rate. All zeros are issued and traded at a discount from par value. Since the security pays the par value at maturity, the discount is earned in lieu of periodic interest payments. Zeros are highly volatile.

Before investing, please read the Fund's prospectus and shareholder reports to learn about its investment strategy and potential risks. Mutual Fund investing involves risk including loss of principal. An investor should also consider the Fund's investment objective, charges, expenses, and risk carefully before investing. This and other information about the Fund is contained in the fund's prospectus, which can be obtained by calling 1-800-662-4203. Please read the prospectus carefully before investing.

Distributed by Northern Lights Distributors, LLC, member FINRA.
Northern Lights and the Funds' Adviser, Tributary Capital Management, are not affiliated.

1129-NLD-8/4/2010