This is the concluding prayer of the Holy Rosary, a collect that summarizes its purpose. Originating in the Church's liturgy, it asks God that by meditating on the mysteries of Christ's life, death, and resurrection, we may imitate His virtues and receive the promise of eternal life, which He won for us.
This prayer is the official Collect for the Memorial of Our Lady of the Rosary, celebrated on October 7th, as found in the Roman Missal. Its inclusion as the standard concluding prayer for the Rosary devotion demonstrates the deep connection between the Church's public liturgy and popular piety. The prayer formally links the recitation of the Rosary to the central Paschal Mystery of Christ, which is the source of our salvation.
The prayer's theology is a summary of the Christian life. It teaches that salvation—the “rewards of eternal life”—was “purchased” for us by Jesus. Our role is to meditate on the mysteries of His life, allowing that contemplation to transform us. We ask for the grace not just to know these events, but to “imitate what they contain” (Christ's virtues) in order to “obtain what they promise” (heaven).
This prayer is said at the conclusion of the recitation of the Rosary, after the Hail Holy Queen and any other concluding prayers. It is also the opening prayer, or Collect, at Mass on October 7th, the Memorial of Our Lady of the Rosary. It can be prayed on its own anytime you wish to reflect on the ultimate purpose of meditating on the Gospels through the Rosary.
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