7& % 5 8 .
'HDU 3DQDVRQLF &XVWRPHU :HOFRPH WR WKH 3DQDVRQLF IDPLO\ RI FXVWRPHUV :H KRSH WKDW \RX KDYH PDQ\ \HDUV RI HQMR\PHQW IURP \RXU QHZ FRORXU WHOHYLVLRQ 7KH EHVW ZD\ WR XQGHUVWDQG WKH IHDWXUHV RI WKLV WHOHYLVLRQ LV WR UHDG WKLV ERRN WKRURXJKO\ EHIRUH RSHUDWLQJ WKH VHW &217(176 - :DUQLQJV DQG 3UHFDXWLRQV - $FFHVVRULHV - )LWWLQJ 5HPRWH &RQWURO %DWWHULHV - ,QVWDOODW
:$51,1*6 $1' 35(&$87,216 - 7KLV 7 9 LV GHVLJQHG WR RSHUDWH RQ $ & 9 +] DQG LV FDSDEOH RI UHFHLYLQJ WKH 3$/ , WUDQVPLVVLRQ VWDQGDUG - 'R QRW H[SRVH WKLV 79 VHW WR UDLQ RU H[FHVVLYH PRLVWXUH - :$51,1* +,*+ 92/7$*( 'R QRW UHPRYH WKH UHDU FRYHU WKHUH DUH QR XVHU VHUYLFHDEOH SDUWV LQVLGH - $YRLG H[SRVLQJ WKH 79 VHW WR GLUHFW VXQOLJKW RU RWKHU VRXUFHV RI KHDW - 5HPRYH WKH PDLQV SOXJ IURP WKH ZDOO VRFNHW ZKHQ WKH 79 VHW LV QRW WR EH XVHG IRU D SURORQJHG SHULRG RI WLPH 'R QRW SXOO WKH
$&&(6625,(6 &KHFN WKDW \RX KDYH WKH DFFHVVRULHV DQG LWHPV VKRZQ &RORXU 7XEH 7& % 5 4XHVWLRQQDLUH 79 *XDUDQWHH &57 *XDUDQWHH 2SHUDWLQJ ,QVWUXFWLRQ ERRN 5HPRWH &RQWURO 7UDQVPLWWHU (85 ,QGRRU $HULDO 76$ ( %DWWHULHV IRU WKH 5HPRWH &RQWURO 7UDQVPLWWHU [ 5 80 VL]H ),77,1* 5(027( &21752/ %$77(5,(6 6OLGH RII WKH EDWWHU\ FRYHU ,QVHUW EDWWHULHV QRWH FRUUHFW SRODULW\ 5HSODFH WKH FRYHU - 0DNH VXUH WKDW WKH EDWWHULHV DUH ILWWHG WKH FRUUHFW ZD\ URXQG - 'R QRW PL[ ROG EDWWHULHV ZLWK
,167$//$7,21 $1' 6(7 83 79 RQO\ &RQQHFW $HULDO FR D[LDO FDEOH GLUHFW WR 79 5) ,1 VRFNHW ,I UHTXLUHG LQVHUW WKH LQGRRU DHULDO LQWR WKH FDVH VRFNHW DQG FRQQHFW WKH FDEOH WR WKH 79 5) ,1 VRFNHW 25 86,1* $ 9&5 &RQQHFW DHULDO FR D[LDO FDEOH WR 5) ,QSXW VRFNHW RI 9&5 DQG D 5) FR D[LDO FDEOH IURP 9&5 5) 2XW VRFNHW WR 79 5) ,1 VRFNHW 7KH 9&5 FDQ DOVR EH FRQQHFWHG WR WKH 79 XVLQJ D 6&$57 WR 6&$57 OHDG 9&5 5) 287 5) ,1 9 $ )XUWKHU GHWDLOV RI $XGLR 9LGHR FRQQHFWLRQV FDQ EH IRXQG RQ SDJH 25 86,1* $ 9
,167$//$7,21 $1' 6(7 83 6ZLWFK 21 \RXU 9&5 LI FRQQHFWHG 6ZLWFK 21 \RXU 6DWHOOLWH 5HFHLYHU LI FRQQHFWHG 3OXJ WKH 79 LQWR D PDLQV VRFNHW DQG VZLWFK 21 3URJUDPPHV ZLOO DSSHDU LPPHGLDWHO\ LI \RXU GHDOHU KDV DOUHDG\ WXQHG WKH 79 IRU \RX ,I WKH 79 KDV QRW EHHQ WXQHG IRU \RX WKHQ $XWR 7XQLQJ ZLOO EHJLQ 79 VWDWLRQV ZLOO EH ORFDWHG DQG VWRUHG $XWR 7XQLQJ 7KH ILUVW DYDLODEOH FKDQQHO ZLOO EH GLVSOD\HG 3URJUDPPH FKDQJH 9ROXPH DGMXVW 7KH 79 VWDWLRQV ZLOO EH VWRUHG LQ WKH RUGHU WKDW
/2&$7,21 2) &21752/6 2Q 6FUHHQ 'LVSOD\V 0HQX 7LWOH 0DLQ 0HQX &RQWUDVW %ULJKWQHVV &XUVRU %DU &RORXU 6KDUSQHVV 7XQLQJ 0HQX 6XE 0HQX 6HOHFW $GMXVW 1 ([LW &RPPDQGV $ JXLGH WR WKH YDULRXV RSWLRQV DYDLODEOH ZKHQ LQ 2Q 6FUHHQ 0HQX RSHUDWLRQV )URQW 3DQHO &RQWUROV 79 $9 6ZLWFKHV EHWZHHQ 79 DQG $9 PRGHV 0DLQV 3RZHU 2Q 2II VZLWFK 1RWH ,I WKH SRZHU VXSSO\ LV LQWHUUXSWHG H J PDLQV SOXJ UHPRYHG IURP VRFNHW RXWOHW WKHQ WKH UHG OLJKW LQGLFDWLQJ VWDQGE\ PD\ EH RQ IRU D VKRUW SHULRG RI WLPH d
0(18 23(5$7,21 0HQX RSHUDWLRQ LV WR EH XVHG LQ FRQMXQFWLRQ ZLWK WKH 2Q 6FUHHQ 'LVSOD\ FRPPDQGV WR JXLGH \RX WKURXJK IXQFWLRQ DGMXVWPHQWV DQG WXQLQJ RSHUDWLRQV ([LW 0HQX 'LVSOD\ 0HQX 3UHYLRXV 0HQX $XWR 7XQLQJ VWDUW 0DQXDO 7XQLQJ VWRUH 6HOHFW 0DQXDO 7XQLQJ SURJUDPPH VHOHFW $GMXVW $FFHVV 0DQXDO 7XQLQJ VHDUFK 0DLQ 0HQX &RQWUDVW %ULJKWQHVV &RORXU 6KDUSQHVV 7KH &RQWUDVW %ULJKWQHVV &RORXU DQG 6KDUSQHVV PD\ EH DOWHUHG WR VXLW WKH YLHZLQJ FRQGLWLRQV DQG SHUVRQDO SUHIHUHQFHV 'LVSOD\ 0HQX 6HOHFW IXQFWLRQ
0(18 23(5$7,21 $XWR 7XQLQJ 7KH $XWR 7XQLQJ PHQX DOORZV \RX WR DXWRPDWLFDOO\ UHWXQH WKH 79 SDUWLFXODUO\ XVHIXO LI \RX PRYH WR DQ DUHD WKDW LV VHUYHG E\ D GLIIHUHQW WUDQVPLWWHU )LUVW DFFHVV WKH 7XQLQJ PHQX DV GHVFULEHG RQ 3DJH $FFHVV k$XWR 7XQLQJl 6WDUW 7XQLQJ 0HQX $XWR 7XQLQJ $XWR 7XQLQJ 79 $9 6WDUW 0DQXDO 7XQLQJ ) 3UHYLRXV 0HQX 6KLSSLQJ &RQGLWLRQ 1 ([LW 6ZDS 7XQLQJ GDWD ZLOO EH (UDVHG 6HOHFW $FFHVV ) 3UHYLRXV 0HQX 1 ([LW &RQILUP 6WDUW 5HDG\
0(18 23(5$7,21 ([LW 0HQX 'LVSOD\ 0HQX 3UHYLRXV 0HQX 6KLSSLQJ &RQGLWLRQ VWDUW 3URJUDPPH 6ZDS 6HOHFW $GMXVW $FFHVV 6KLSSLQJ &RQGLWLRQ $OORZV\RXWRFOHDUDOOWXQLQJLQIRUPDWLRQDQGUHVHWDOOFRQWUROOHYHOV EDFN WR WKH IDFWRU\ VHWWLQJV )LUVW DFFHVV WKH 7XQLQJ PHQX DV GHVFULEHG RQ 3DJH $FFHVV k6KLSSLQJ &RQGLWLRQl 6WDUW 7XQLQJ 0HQX 6KLSSLQJ &RQGLWLRQ $XWR 7XQLQJ 0DQXDO 7XQLQJ 6KLSSLQJ &RQGLWLRQ 79 $9 6WDUW ) 3UHYLRXV 0HQX 1 ([LW 6ZDS 7XQLQJ GDWD ZLOO EH (UDVHG 6HOHF
0(18 23(5$7,21 6ZDS ,I WKH SURJUDPPH RUGHU DIWHU $XWR 7XQLQJ LV QRW WR \RXU SUHIHUHQFH \RX FDQ VZDS SURJUDPPHV EHWZHHQ SRVLWLRQV $Q H[DPSOH FRXOG EH IRU UHJLRQDO YDULDWLRQV H J %%& :DOHV DQG %%& :HVW ZKHUH \RX PD\ ZDQW WR VZDS WKHP VR WKDW %%& :HVW DSSHDUV RQ SURJUDPPH SRVLWLRQ )LUVW DFFHVV WKH 7XQLQJ PHQX DV GHVFULEHG RQ 3DJH $FFHVV k6ZDSl 6ZDS SURJUDPPHV 6ZDS 3RVLWLRQ 7XQLQJ 0HQX ZLWK $XWR 7XQLQJ 3RVLWLRQ 0DQXDO 7XQLQJ 6KLSSLQJ &RQGLWLRQ 6ZDS 6HOHFW $FFHVV )
$8',2 9,'(2 &211(&7,216 )5217 25 5($5 $9 $XGLR 9LGHR LV D GHGLFDWHG LQSXW IRU 9&5 V 6DWHOOLWH 5HFHLYHUV DQG RWKHU $XGLR 9LGHR HTXLSPHQW 7KLV 79 LV FDSDEOH RI VZLWFKLQJ WR $9 RSHUDWLRQ DXWRPDWLFDOO\ LI WKH HTXLSPHQW FRQQHFWHG SURYLGHV D VZLWFKLQJ VLJQDO WR WKH 6&$57 VRFNHW ,Q WKLV FRQGLWLRQ WKH GLVSOD\ ZLOO VKRZ (& DQG LW LV SRVVLEOH WR FKDQJH WKH SURJUDPPH SRVLWLRQ RI WKH 79 ZLWKRXW FKDQJLQJ WKH GLVSOD\HG SLFWXUH WKLV LV QRW SRVVLEOH ZKHQ XVLQJ WKH IURQW $9 FRQQHFWLRQV 9LGHR LQSXW WR 9 VRFNHW $
9&5 $1' 6$7(//,7( 5(&(,9(5 ,167$//$7,21
7528%/( 6+227,1* %HIRUH FDOOLQJ IRU VHUYLFH GHWHUPLQH WKH V\PSWRPV DQG PDNH D IHZ VLPSOH FKHFNV DV VKRZQ EHORZ )RU VHUYLFH SOHDVH FRQWDFW \RXU ORFDO 3DQDVRQLF GHDOHU TXRWLQJ WKH PRGHO QXPEHU DQG VHULDO QXPEHU ERWK DUH ORFDWHG DW WKH UHDU RI WKH 79 6\PSWRPV 3LFWXUH 6RXQG 6QRZ\ 3LFWXUH RU 0XOWLSOH ,PDJHV 1RLV\ 6RXQG RU 1RUPDO 6RXQG ,QWHUIHUHQFH 1RLV\ 6RXQG 1RUPDO 3LFWXUH 1RLV\ RU 1R 6RXQG 1R 3LFWXUH 1R 6RXQG 1R &RORXU 1RUPDO 6RXQG 6FUDPEOHG 1RUPDO RU :HDN 6RXQG &KHFNV $HULDO ORFDWLRQ ORFD
63(&,),&$7,216 0RGHO 1XPEHU 7& % 5 3RZHU 6RXUFH 9 +] $ & 3RZHU &RQVXPSWLRQ : 6WDQGE\ 3RZHU &RQVXPSWLRQ : 3LFWXUH 7XEH FP YLVLEOH GLDJRQDO $XGLR 2XWSXW 0XVLF : LPSHGDQFH 0RQR 'LPHQVLRQV + [ : [ ' PP :HLJKW NJ 5HFHLYLQJ 6\VWHPV
3DQDVRQLF 8 .
