7; '70 7; '70 &RORXU 7HOHYLVLRQ ZLWK ,QWHJUDWHG 'LJLWDO 7HUUHVWULDO 'HFRGHU 8 .
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
:$51,1*6 $1' 35(&$87,216 - 7KLV 79 VHW LV GHVLJQHG WR RSHUDWH RQ 9 +] $ & - %DWWHULHV SDFNDJLQJ DQG ROG HTXLSPHQW VKRXOG - (QVXUH WKDW WKH PDLQV SOXJ LV HDVLO\ DFFHVVLEOH DWDOO WLPHV 7KH 2Q 2II VZLWFK RQ WKLV PRGHO GRHV QRW IXOO\ GLVFRQQHFW WKH 79 IURP WKH PDLQV VXSSO\ 5HPRYH WKH PDLQV SOXJ IURP WKH ZDOO VRFNHW ZKHQ WKH 79 VHW LV QRW XVHG IRU D SURORQJHG SHULRG RI WLPH QRW EH GLVSRVHG RI DV GRPHVWLF ZDVWH EXW LQ DFFRUGDQFH ZLWK WKH DSSOLFDEOH UHJXODWLRQV 1RWH - 7R SUHYHQW GDPDJH ZKL
$&&(6625,(6 &KHFN WKDW \RX KDYH WKH DFFHVVRULHV DQG LWHPV OLVWHG T 2SHUDWLQJ ,QVWUXFWLRQ ERRN 9LGHR FDELQHW 5HPRWH &RQWURO 7UDQVPLWWHU (85 3DQ (XURSHDQ *XDUDQWHH &DUG %DWWHULHV IRU WKH 5HPRWH &RQWURO 7UDQVPLWWHU [ 5 80 VL]H
(027( &21752/ 6WDQGE\ 2Q 2II EXWWRQ 6ZLWFKHV 79 2Q RU 2II 6WDQGE\ PRGH *XLGH EXWWRQ 'LVSOD\V WKH '9% DQG $QDORJXH 79 *XLGH 6HH SDJH 0HQX EXWWRQ 3UHVV WR DFFHVV WKH 3LFWXUH 6RXQG DQG 6HWXS PHQXV VHH SDJHV 3UHVV WR VHOHFW D IXQFWLRQ RU VWRUH D VHWWLQJ 3UHVV DIWHU VHOHFWLQJ SURJUDPPH SRVLWLRQV WR TXLFNO\ FKDQJH SURJUDPPH &RORXUHG EXWWRQV XVHG IRU WKH VHOHFWLRQ QDYLJDWLRQ DQG RSHUDWLRQ RI YDULRXV IXQFWLRQV 7HOHWH[W EXWWRQ 6HH SDJH 677/ EXWWRQ 7H[W ) 3 EXWWRQ $QDORJXH PRGH 6XEWLWOH
48,&.
48,&.
48,&. 67$57 *8,'( 79 WR 9&5 RU '9' 5HFRUGHU 'RZQORDG ,I D k4 /LQNl k1(;79,(:/,1.
48,&.
86,1* 7+( 21 6&5((1 ',63/$<6 7KLV 79 KDV D FRPSUHKHQVLYH V\VWHP RI 2Q 6FUHHQ 'LVSOD\ PHQXV WR DFFHVV DGMXVWPHQWV DQG RSWLRQV 0HQX 7LWOH 6XE PHQXV 0DLQ PHQX 3LFWXUH PHQX 6RXQG PHQX 6HWXS PHQX ,QVWUXFWLRQV 6HOHFW $FFHVV ([LW 5HWXUQ 3LFWXUH PHQX 9LHZLQJ PRGH &RQWUDVW %ULJKWQHVV &RORXU 6KDUSQHVV &RORXU EDODQFH 3 15 '\QDPLF ,QGLFDWRU IRU RSWLRQV 6HOHFWLRQ EDU 1RUPDO 2II 6RPH VHOHFWLRQV IRU H[DPSOH &RQWUDVW %ULJKWQHVV &RORXU DQG 6KDUSQHVV ZLOO DOORZ \RX WR LQFUHDVH RU GHFUHDVH WKHLU OHYHO 6RPH VHOH
$63(&7 &21752/6 7KH ZLGHVFUHHQ 79 ZLOO DOORZ \RX WR HQMR\ YLHZLQJ WKH SLFWXUH DW LWV RSWLPXP VL]H DQG DVSHFW LQFOXGLQJ ZLGHVFUHHQ jFLQHPD IRUPDW SLFWXUHV 3UHVV WKH $63(&7 EXWWRQ UHSHDWHGO\ WR PRYH WKURXJK WKH VL[ DVSHFW RSWLRQV 3DQDVRQLF $XWR =RRP DQG =RRP 25 3UHVV WKH $63(&7 EXWWRQ WKHQ XVH WKH 5HG RU *UHHQ EXWWRQV WR PRYH LQ HLWKHU GLUHFWLRQ WKURXJK WKH DVSHFW RSWLRQV DSSHDUV LQ WKH WRS OHIW RI WKH VFUHHQ 3DQDVRQLF $XWR VZLWFKHV WR WKH DSSURSULDWH RU ZLGH
$63(&7 &21752/6 ZLOO GLVSOD\ D WUXH DQDPRUSKLF SLFWXUH ZLWK QR DVSHFW GLVWRUWLRQV ZLOO GLVSOD\ D OHWWHUER[ RU SLFWXUH ZLWK QR DVSHFW GLVWRUWLRQV ZLOO GLVSOD\ D SLFWXUH DW LWV VWDQGDUG VL]H ZLWK QR DVSHFW GLVWRUWLRQV ZLOO GLVSOD\ OHWWHUER[ RU SLFWXUHV ZLWK QR DVSHFW GLVWRUWLRQV =RRP =RRP ZLOO GLVSOD\ DQDPRUSKLF OHWWHUER[ SLFWXUHV DV D IXOO VFUHHQ GLVSOD\ ZLWK QR DVSHFW GLVWRUWLRQV =RRP =RRP
3,&785( 0(18 7KLV PHQX DOORZV \RX WR PDNH DGMXVWPHQWV WR WKH SLFWXUH TXDOLW\ 2SHQ WKH 0DLQ PHQX 0(18 9LHZLQJ PRGH &RQWUDVW %ULJKWQHVV &RORXU 6KDUSQHVV &RORXU EDODQFH 3 15 0RYH WR 3LFWXUH PHQX $FFHVV 3LFWXUH PHQX &RQWUDVW %ULJKWQHVV &RORXU 6KDUSQHVV 7LQW 176& RQO\ &RORXU EDODQFH 3 15 1RUPDO 2II ([LW 5HWXUQ ,QFUHDVH RU GHFUHDVH OHYHOV RU VHW RSWLRQV 9LHZLQJ PRGH '\QDPLF 6HOHFW &KDQJH 0RYH WR \RXU FKRLFH 3UHVV WKH (;,7 EXWWRQ WR H[LW WKH PHQX V\VWHP 3LFWXUH PHQX (;,7 3LFWXUH PHQX 9LHZLQJ PRGH
6281' 0(18 7KH 6RXQG PHQX ZLOO DOORZ \RX WR VHW \RXU SHUVRQDO SUHIHUHQFHV IRU DOO DVSHFWV RI VRXQG TXDOLW\ 0(18 2SHQ WKH 0DLQ PHQX 6RXQG PHQX 0RYH WR 6RXQG PHQX %DVV 7UHEOH %DODQFH 1,&$0 0RGH $PELHQFH $FFHVV 6RXQG PHQX 0RYH WR \RXU FKRLFH 2II 0XVLF 2II 6HOHFW $GMXVW ([LW 5HWXUQ ,QFUHDVH RU GHFUHDVH OHYHOV RU VHW RSWLRQV 3UHVV WKH (;,7 EXWWRQ WR H[LW WKH PHQX V\VWHP (;,7 %DVV %DVV DGMXVWPHQW ZLOO HPSKDVLVH WKH ORZHU GHHSHU IUHTXHQFLHV DQG FDQ EH LQFUHDVHG RU GHFUHDVHG 7UHEOH 7UHEOH DGMXVWPHQW
6(783 0(18 7KH 6HWXS PHQX SURYLGHV DFFHVV WR YDULRXV DGYDQFHG IHDWXUHV DQG DOVR WR WKH 7XQLQJ PHQX 2SHQ WKH 0DLQ PHQX 0(18 '9% PRGH 6HWXS PHQX 4 /LQN $9 RXW $9 RXW 2II WLPHU 3RZHU RQ SUHIHUHQFH *HRPDJQHWLF '9% 6HWXS 0HQX 2ZQHU ,' 6KLSSLQJ FRQGLWLRQ 0RYH WR 6HWXS PHQX $FFHVV 6HWXS PHQX 0RYH WR \RXU FKRLFH ,QFUHDVH RU GHFUHDVH OHYHOV VHW RSWLRQV RU DFFHVV IXUWKHU PHQXV 3UHVV WKH (;,7 EXWWRQ WR H[LW WKH PHQX V\VWHP (;,7 $9 0RQLWRU '9% 2II $9 6HOHFW &KDQJH ([LW 5HWXUQ 4 /LQN 4 /LQN DOORZV \RX W
6(783 0(18 *HRPDJQHWLF ,I \RX QRWLFH D VOLJKW WLOW WR WKH SLFWXUH RU LI WKHUH DUH FRORXUHG SDWFKHV DW WKH FRUQHUV RI WKH VFUHHQ XVH WKLV IHDWXUH WR HOLPLQDWH WKHP 6HH 6WHS SDJH 4XLFN 6WDUW *XLGH 7XQLQJ 0HQX 3URYLGHV DFFHVV WR PDQ\ RWKHU IHDWXUHV LQFOXGLQJ 3URJUDPPH (GLW DQG $XWR 6HWXS 6HH SDJH '9% 6HWXS 0HQX 3URYLGHV DFFHVV WR VHWXS WKH '9% RSHUDWLRQV 6HH SDJH 2ZQHU ,' $OORZV \RX WR HQWHU D VHFXULW\ FRGH DQG DGGUHVV LQIRUPDWLRQ 6HH SDJH 6KLSSLQJ FRQGLWLRQ $OORZV \RX WR FOHDU D
781,1* 0(18 $QDORJXH PRGH 7KH 7XQLQJ PHQX SURYLGHV DFFHVV WR PDQXDO DXWRPDWLF DQG ILQH WXQLQJ PHQXV 0(18 2SHQ WKH 0DLQ PHQX &+ 0RYH WR 6HWXS PHQX 7XQLQJ PHQX $FFHVV 6HWXS PHQX 3URJUDPPH HGLW $XWR VHWXS 0DQXDO WXQLQJ 0RYH WR 7XQLQJ PHQX $FFHVV 6HOHFW $FFHVV 6WRUH ([LW 5HWXUQ $FFHVV 7XQLQJ PHQX 0RYH WR \RXU FKRLFH ,QFUHDVH RU GHFUHDVH OHYHOV VHW RSWLRQV RU DFFHVV IXUWKHU PHQXV 3UHVV WKH (;,7 EXWWRQ WR H[LW WKH PHQX V\VWHP (;,7 3URJUDPPH HGLW $FFHVVLQJ WKH 3URJUDPPH HGLW PHQX ZLOO DOOR
781,1* 0(18 352*5$00( (',7 7KH 3URJUDPPH HGLW PHQX DOORZV \RX WR HGLW WKH SURJUDPPH SRVLWLRQ VHWWLQJV 2SHQ WKH 0DLQ PHQX 0(18 &+ 0RYH WR 6HWXS PHQX 7XQLQJ PHQX 3URJUDPPH HGLW $XWR VHWXS 0DQXDO WXQLQJ $FFHVV 6HWXS PHQX $FFHVV 6HOHFW $FFHVV 6WRUH ([LW 5HWXUQ 0RYH WR 7XQLQJ PHQX $FFHVV 7XQLQJ PHQX 0RYH WR 3URJUDPPH HGLW PHQX 3URJUDPPH HGLW 3URJ $FFHVV 3URJUDPPH HGLW PHQX 0DNH UHTXLUHG FKDQJHV VHH VHFWLRQV EHORZ 3UHVV 2.
781,1* 0(18 352*5$00( (',7 7R DGG D SURJUDPPH SRVLWLRQ &KRRVH WKH SURJUDPPH SRVLWLRQ ZKHUH WKH QHZ SURJUDPPH LV WR EH LQVHUWHG 3UHVV WKH *UHHQ EXWWRQ 3URJUDPPH HGLW 3URJ 7R PRYH D SURJUDPPH WR DQRWKHU SRVLWLRQ &KRRVH WKH SURJUDPPH SRVLWLRQ WR EH PRYHG 3UHVV WKH
781,1* 0(18 352*5$00( (',7 7R ORFN D SURJUDPPH SRVLWLRQ WR SUHYHQW DFFHVV &KRRVH WKH SURJUDPPH SRVLWLRQ 0RYH WR WKH ORFN FROXPQ &KRRVH EHWZHHQ ORFN RQ RU ORFN RII 3URJUDPPH HGLW 3URJ &KDQ 1DPH /RFN &+ ;<= 2II 2II 2II 2II 2II /RFN 2II 2Q 6HOHFW RSWLRQ 6WRUH ([LW 5HWXUQ 7R FRS\ SURJUDPPH LQIRUPDWLRQ WR D FRPSDWLEOH 9&5 '9' 5 FRQQHFWHG WR $9 RU $9 0RYH WR WKH 3URJ FROXPQ 3UHVV WKH %OXH EXWWRQ RQ WKH UHPRWH FRQWURO 3URJUDPPH GDWD ZLOO QRZ EH VHQW WR WKH 9&5 '9' 5 7K
$1$/2*8( 352*5$00( *8,'( 7KH DQDORJXH SURJUDPPH JXLGH VKRZV SURJUDPPH OLVW 7R YLHZ D OLVW RI WKH VWDWLRQV WKDW KDYH EHHQ IRXQG SUHVV WKH *8,'( EXWWRQ RQ WKH UHPRWH FRQWURO *8,'( 3URJ 1DPH &KDQ 3URJ 1DPH 9&5 ,Q WKLV JXLGH XVH WKH FXUVRU EXWWRQV WR PRYH WKH FXUVRU EDU DURXQG WKH OLVW 8VH WKH SURJUDPPH FKDQJH EXWWRQ WR VWHS WKURXJK WKH JXLGH SDJH E\ SDJH 1DPH %%& %%& ,79H 6 &H 1DPH 1DPH 1DPH 1DPH 1DPH 1DPH 1DPH 1DPH &+ &+ &+ &+
781,1* 0(18 $872 6(783 $QDORJXH PRGH 7KH $XWR VHWXS PHQX ZLOO DOORZ \RX WR DXWRPDWLFDOO\ UHWXQH WKH 79 WR \RXU ORFDO VWDWLRQV ,W LV XVHIXO LI \RX PRYH WR D GLIIHUHQW UHJLRQ ,Q $QDORJXH PRGH 2SHQ WKH 0DLQ PHQX 0(18 0RYH WR 6HWXS PHQX $FFHVV 6HWXS PHQX &+ 7XQLQJ PHQX 3URJUDPPH HGLW $XWR VHWXS 0DQXDO WXQLQJ $FFHVV 6HOHFW $FFHVV 6WRUH ([LW 5HWXUQ 0RYH WR 7XQLQJ PHQX $FFHVV 7XQLQJ PHQX 0RYH WR $XWR VHWXS $FFHVV $XWR VHWXS :$51,1* $OO FXUUHQW WXQLQJ GDWD ZLOO EH HUDVHG 3UHVV WR VWDUW $XWR VH
781,1* 0(18 0$18$/ 781,1* $QDORJXH PRGH 0DQXDO WXQLQJ RI WKH 3URJUDPPH SRVLWLRQV LV DYDLODEOH HLWKHU IURP WKH 2Q 6FUHHQ 'LVSOD\ PHQX RU IURP WKH WRS SDQHO FRQWUROV 0DQXDO WXQLQJ PHQX 2SHQ WKH 0DLQ PHQX 0(18 &+ 0RYH WR 6HWXS PHQX 7XQLQJ PHQX 3URJUDPPH HGLW $XWR VHWXS 0DQXDO WXQLQJ $FFHVV 6HWXS PHQX $FFHVV 6HOHFW $FFHVV 6WRUH ([LW 5HWXUQ 0RYH WR 7XQLQJ PHQX $FFHVV 7XQLQJ PHQX 0RYH WR 0DQXDO WXQLQJ &+ $FFHVV 0DQXDO WXQLQJ 0DQXDO WXQLQJ 6HOHFW WKH SURJUDPPH SRVLWLRQ WR EH WXQHG
781,1* 0(18 0$18$/ 781,1* $QDORJXH PRGH 0DQXDO WXQLQJ )URQW SDQHO 3UHVV WKH ) EXWWRQ XQWLO k7XQLQJ PRGHl LV UHDFKHG 3UHVV WKH RU EXWWRQ WR DFFHVV 7XQLQJ PRGH 3UHVV WKH 79 $9 EXWWRQ WR PRYH EHWZHHQ k&KDQJH SURJUDPPHl RU k6HDUFKl 3UHVV WKH RU EXWWRQ WR FKDQJH SURJUDPPH SRVLWLRQ VWDUW VHDUFK :KHQ WKH GHVLUHG VWDWLRQ LV IRXQG SUHVV 675 WR VWRUH WKH FKDQJHV 7KH SURJUDPPH SRVLWLRQ ZLOO IODVK 5HSHDW DERYH SURFHGXUH WR WXQH DGGLWLRQDO SURJUDPPHV RU SUHVV WKH ) EXWWRQ WR H[LW ) Y 79 $9 Y
6(783 0(18 2:1(5 , ' 2ZQHU , ' DOORZV \RX WR HQWHU D VHFXULW\ FRGH DQG DGGUHVV LQIRUPDWLRQ VR WKDW LQ WKH XQIRUWXQDWH HYHQW RI WKHIW LW ZLOO KHOS WKH 3ROLFH WR GHWHUPLQH WKH RZQHU ,I WKH 2ZQHU , ' LQIRUPDWLRQ ZDV QRW HQWHUHG DIWHU $XWR VHWXS RU LW LV QHFHVVDU\ WR DOWHU VRPH RI WKH , ' LQIRUPDWLRQ LW FDQ EH UH DFFHVVHG YLD WKH 6HWXS PHQX ,Q ERWK $QDORJXH DQG '9% PRGHV 2SHQ WKH 0DLQ PHQX 0RYH WR 6HWXS PHQX $FFHVV 6HWXS PHQX 0RYH WR 2ZQHU , ' $FFHVV 2ZQHU , ' ,I WKH 2ZQHU , ' KDV SUHYLRXVO\
6(783 0(18 6+,33,1* &21',7,21 6KLSSLQJ FRQGLWLRQ DOORZV \RX WR UHVHW WKH 79 WR LWV RULJLQDO FRQGLWLRQ L H QR FKDQQHOV WXQHG LQ 7KLV LV XVHIXO IRU H[DPSOH LI \RX PRYH WR D GLIIHUHQW DUHD ZKHQ \RX ZLOO SUREDEO\ ZDQW WKH 79 WR WXQH LWVHOI WR \RXU QHZ ORFDO VWDWLRQV 7KH 6KLSSLQJ FRQGLWLRQ PHQX ZLOO UHVHW DOO GDWD H[FHSW 2ZQHU , ' LQIRUPDWLRQ FOHDULQJ DOO '9% DQG $QDORJXH WXQLQJ LQIRUPDWLRQ DQG UHVHWWLQJ DOO FRQWURO OHYHOV EDFN WR IDFWRU\ VHWWLQJV
'9% 6HWXS 0HQX RYHUYLHZ '9% PRGH 7KH '9% 6HWXS PHQX SURYLGHV DFFHVV WR YDULRXV DGYDQFHG IHDWXUHV DQG DOVR WR WKH '9% 7XQLQJ PHQX 0(18 ,Q '9% PRGH 3UHVV WKH 0(18 EXWWRQ 6HWXS PHQX 4 /LQN $9 RXW $9 RXW 2II WLPHU 3RZHU RQ SUHIHUHQFH *HRPDJQHWLF '9% 6HWXS 0HQX 2ZQHU ,' 6KLSSLQJ FRQGLWLRQ 0RYH WR 6HWXS PHQX $FFHVV 6HWXS PHQX 0RYH WR '9% 6HWXS 0HQX $9 0RQLWRU '9% 2II $9 $FFHVV 6HOHFW $FFHVV $FFHVV '9% 6HWXS 0HQX ([LW 5HWXUQ 0RYH WR PHQX RSWLRQ $GMXVW FKRVHQ RSWLRQ RU DFFHVV FKRVHQ PHQX 3UHVV
7LPHU SURJUDPPLQJ PHQX '9% PRGH )RU DQ H[WHUQDO UHFRUGLQJ GHYLFH WR UHFRUG '9% SURJUDPPHV WKH LQWHJUDWHG '9% V\VWHP PXVW EH DFWLYH WR SURYLGH WKH VLJQDO 7KH 7LPHU SURJUDPPLQJ PHQX DOORZV \RX WR FKRRVH SURJUDPPHV WKDW \RX ZLVK WR UHFRUG $W WKH FRUUHFW WLPH WKH '9% V\VWHP ZLOO VZLWFK RQ DQG WXQH WR WKH FRUUHFW VWDWLRQ HYHQ LI WKH 79 LV LQ VWDQGE\ PRGH ,I WKH UHFRUGLQJ GHYLFH LV FRPSDWLEOH ZLWK 4 /LQN RU VLPLODU WHFKQRORJLHV VHH SDJH DQG FRQQHFWHG WR WKH 79 V $9 $9 WHUPLQDO \RX GR QRW QHHG WR S
7LPHU SURJUDPPLQJ PHQX '9% PRGH 'DLO\ DQG :HHNO\ 7LPHU 3URJUDPPHV :KLOH LQ WKH 'DWH ILHOG RI WKH '9% 7LPHU 3URJUDPPLQJ PHQX \RX FDQ VHOHFW YDULRXV RSWLRQV WR GHWHUPLQH KRZ RIWHQ D UHFRUGLQJ VKRXOG EH PDGH 3UHVV WKH GRZQ FXUVRU EXWWRQ UHSHDWHGO\ WR DFFHVV WKH IROORZLQJ RSWLRQV 'DLO\ 6X 6D 7KH UHFRUGLQJ GHYLFH ZLOO UHFRUG DW WKH VDPH WLPH HYHU\ GD\ 'DLO\ 0R 6D 7KH UHFRUGLQJ GHYLFH ZLOO UHFRUG DW WKH VDPH WLPH HDFK GD\ IURP 0RQGD\ WR 6DWXUGD\ 'DLO\ 0R )U 7KH UHFRUGLQJ GHYLFH ZLOO UHFRUG DW WKH VDP
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
&KLOG /RFN PHQX '9% PRGH
'9% 7XQLQJ 0HQX '9% PRGH '9% 7XQLQJ 0HQX SURYLGHV DFFHVV WR '9% 7XQLQJ IHDWXUHV ,Q '9% PRGH 0(18 3UHVV WKH 0(18 EXWWRQ 0RYH WR 6HWXS PHQX $FFHVV 6HWXS PHQX 0RYH WR '9% 6HWXS 0HQX $FFHVV '9% 6HWXS 0HQX 0RYH WR '9% 7XQLQJ 0HQX $FFHVV '9% 7XQLQJ 0HQX 0RYH WR PHQX RSWLRQ $GMXVW FKRVHQ RSWLRQ RU DFFHVV FKRVHQ PHQX 3UHVV WKH (;,7 EXWWRQ DW DQ\ WLPH WR JR EDFN WR ZDWFKLQJ 79 (;,7 '9% $XWR 6HWXS $XWRPDWLFDOO\ UHWXQHV \RXU 79 '9% VWDWLRQV ZLOO EH ORFDWHG VRUWHG LQWR RUGHU DQG VWRUHG '9% WXQLQJ GDWD
'9% 6\VWHP 6HWXS '9% PRGH 7KH '9% 6\VWHP 6HWXS PHQX SURYLGHV DFFHVV WR '9% VSHFLILF RSWLRQV ,Q '9% PRGH 0(18 3UHVV WKH 0(18 EXWWRQ 0RYH WR 6HWXS PHQX $FFHVV 6HWXS PHQX 0RYH WR '9% 6HWXS 0HQX $FFHVV '9% 6HWXS 0HQX 0RYH WR '9% 6\VWHP 6HWXS $FFHVV '9% 6\VWHP 6HWXS 0RYH WR PHQX RSWLRQ $GMXVW FKRVHQ RSWLRQ RU DFFHVV FKRVHQ PHQX 3UHVV WKH (;,7 EXWWRQ DW DQ\ WLPH WR JR EDFN WR ZDWFKLQJ 79 (;,7 3UHVVLQJ WKH 2.
&RPPRQ ,QWHUIDFH 0RGXOH PHQX '9% PRGH 7KH &RPPRQ ,QWHUIDFH 0RGXOH PHQX SURYLGHV DFFHVV WR VRIWZDUH FRQWDLQHG RQ &RPPRQ ,QWHUIDFH &, 0RGXOHV 7KHVH FDQ EH LQVHUWHG LQ WKH k&,l VORW ORFDWHG DW WKH UHDU RI WKH 79 ,03257$17 127(6 : 6ZLWFK RII WKH 79 XVLQJ WKH IURQW SDQHO VZLWFK EHIRUH LQVHUWLQJ RU UHPRYLQJ D PRGXOH : ,I \RX DUH LQVWDOOLQJ D 79 VRIWZDUH XSGDWH SOHDVH IROORZ WKH GHGLFDWHG LQVWUXFWLRQV VXSSOLHG ZLWK WKH PRGXOH : ,QVHUW UHPRYH D PRGXOH VWUDLJKW WR WKH &, VORW ,QVHUW WKH &, PRGXOH 6RPH &R
6\VWHP 8SGDWH PHQX '9% PRGH )URP WLPH WR WLPH QHZ YHUVLRQV RI VRIWZDUH ZLOO EHFRPH DYDLODEOH WR HQKDQFH WKH SHUIRUPDQFH DQG IHDWXUHV RI WKLV 79 $XWR 8SGDWH 6HDUFK LQ 6WDQGE\ 2YHUQLJKW 'XULQJ WKH QLJKW WLPH WKLV 79 ZLOO DXWRPDWLFDOO\ VHDUFK IRU DQ\ QHZ DYDLODEOH VRIWZDUH EHLQJ EURDGFDVW ,I D QHZ VRIWZDUH YHUVLRQ LV IRXQG WKH XQLW ZLOO DXWRPDWLFDOO\ GRZQORDG DQG LQVWDOO WKLV QHZ YHUVLRQ $W WKH HQG RI WKLV SURFHVV WKH XQLW ZLOO UHVHW $XWR 8SGDWH 6HDUFK LQ 6WDQGE\ ZLOO RFFXU DW RU HYHU\ GD\
79 *XLGH (OHFWURQLF 3URJUDPPH *XLGH (3* '9% PRGH 7KH '9% 79 *XLGH GLVSOD\V WKH FXUUHQW SURJUDPPHV EHLQJ WUDQVPLWWHG DQG IRUWKFRPLQJ SURJUDPPHV RQ HDFK '9% FKDQQHO XS WR DERXW RQH ZHHN DKHDG ,I EURDGFDVWHUV WUDQVPLW WKH SURJUDPPHV LQIRUPDWLRQ 3UHVV WKH *8,'( EXWWRQ &KRRVH IURP /DQGVFDSH RU 3RUWUDLW GLVSOD\ VW\OH E\ SUHVVLQJ WKH *8,'( EXWWRQ UHSHDWHGO\ 3UHVV WKH 5HG EXWWRQ WR PRYH WKH (3* OLVWLQJ WR WKH SUHYLRXV GD\ 3UHVV WKH *UHHQ EXWWRQ WR PRYH WKH (3* OLVWLQJ WR QH[W GD\ 3UHVV WKH
79 *XLGH (OHFWURQLF 3URJUDPPH *XLGH (3* '9% PRGH ,Q '9% PRGH ,QIRUPDWLRQ EDQQHU ZLOO DSSHDU ZKHQ FKDQJLQJ FKDQQHO RU SUHVVLQJ WKH ,QIRUPDWLRQ EXWWRQ 7KH EDQQHU JLYHV WKH XVHU LQIRUPDWLRQ DERXW WKH FKDQQHO DQG SURJUDPPH FXUUHQWO\ EHLQJ YLHZHG 7KH EDQQHU ZLOO WLPH RXW DQG GLVVDSHDU IURP WKH VFUHHQ DIWHU D VHW WLPH SHULRG WKLV WLPH SHULRG FDQ EH VHW LQ WKH '9% 6\VWHP 6HWXS PHQX 6HH SDJH 3UHVV WKH OHIW RU ULJKW FXUVRU EXWWRQ ZKLOH EDQQHU LV GLVSOD\HG WR VZLWFK EHWZHHQ 1RZ DQG 1H[W 7KLV VZLWFKHV EH
4 /,1. 4 /LQN DOORZV WKH WHOHYLVLRQ WR FRPPXQLFDWH ZLWK D FRPSDWLEOH 9&5 RU '9' 5HFRUGHU )RU 4 /LQN FRPPXQLFDWLRQ WR ZRUN WKH 79 PXVW EH FRQQHFWHG WR D UHFRUGLQJ GHYLFH ZLWK WKH k4 /LQNl k1(;79,(:/,1.l k'$7$ /2*,&l k(DV\ /LQNl k0HJDORJLFl RU k60$57/,1.
4 /,1.
9&5 '9' 5 23(5$7,21 7KH 5HPRWH &RQWURO LV FDSDEOH RI RSHUDWLQJ VRPH IXQFWLRQV RI VHOHFWHG 3DQDVRQLF 9&5V DQG '9' 'LJLWDO 9HUVDWLOH 'LVF HTXLSPHQW 6RPH 9&5 DQG '9' HTXLSPHQW KDYH GLIIHUHQW IXQFWLRQV VR WR HQVXUH FRPSDWLELOLW\ SOHDVH UHIHU WR WKH HTXLSPHQW V LQVWUXFWLRQ ERRN RU FRQVXOW \RXU GHDOHU IRU GHWDLOV 6WDQGE\ 3UHVV WR VZLWFK WKH 9&5 RU '9' 5 WR VWDQGE\ PRGH 3UHVV DJDLQ WR VZLWFK EDFN RQ 9&5 '9' 9&5 '9' VZLWFK 8VH WKLV VZLWFK WR VHOHFW ZKHWKHU FRQWUROV RSHUDWH '9' HTXLSPHQW RU \RXU 9&5 3
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
7(/(7(;7 23(5$7,21 ,W LV QRW SRVVLEOH WR FKDQJH WKH SURJUDPPH SRVLWLRQ ZKHQ LQ 1HZV IODVK 8SGDWH RU 6XE &RGHG 3DJH $FFHVV RSHUDWLRQ 8SGDWH 'LVSOD\ 'LVSOD\ &DQFHO 3UHVV WKH 0HQX EXWWRQ WR GLVSOD\ VSHFLDO IXQFWLRQV IROORZHG E\ WKH
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
$8',2 9,'(2 &211(&7,216 )URQW $9 5&$ $XGLR 9LGHR DQG +HDGSKRQHV 6RFNHWV $GGLWLRQDO HTXLSPHQW FDQ EH FRQQHFWHG DW WKH IURQW RI WKH 79 YLD WKH KHDGSKRQH VRFNHW DQG WKH WKUHH 5&$ VRFNHWV +HDGSKRQH 6RFNHW 6RFNHW 'HVFULSWLRQ (TXLSPHQW H[DPSOHV $9 ,13876 287387 ,1387 PP 6WHUHR +HDGSKRQH -DFN
*(1(5$/ 7528%/(6+227,1* 6\PSWRPV 3LFWXUH &KHFNV 6RXQG 6QRZ\ 3LFWXUH 1RLV\ 6RXQG $HULDO ORFDWLRQ GLUHFWLRQ RU FRQQHFWLRQ 0XOWLSOH ,PDJHV 1RUPDO 6RXQG $HULDO ORFDWLRQ GLUHFWLRQ RU FRQQHFWLRQ ,QWHUIHUHQFH 1RUPDO 3LFWXUH 1RLV\ 6RXQG 1R 6RXQG (OHFWULFDO DSSOLDQFHV &DUV 0RWRUF\FOHV )OXRUHVFHQW OLJKWV 6ZLWFK RQ 3 15 LQ 3LFWXUH PHQX WR UHGXFH SLFWXUH QRLVH 9ROXPH OHYHO 6RXQG PXWH VZLWFKHG RQ 1R 3LFWXUH 1R 6RXQG 79 VHW WR $9 PRGH 1RW SOXJJHG LQWR $ & RXWOHW 1RW VZLWFKHG RQ 3LFWXUH
'9% 7528%/(6+227,1* 6RPH SUREOHPV ZLOO RQO\ RFFXU ZKHQ YLHZLQJ '9% FKDQQHOV 'XH WR WKH GLIIHUHQW WHFKQLTXHV LQYROYHG LQ GLJLWDO UHFHSWLRQ '9% VLJQDO TXDOLW\ FDQ EH SRRU HYHQ LI \RX DSSHDU WR KDYH D VWURQJ VLJQDO ZKHQ YLHZLQJ DQDORJXH SURJUDPPHV 7KH '9% V\VWHP UHTXLUHV D JRRG TXDOLW\ VLJQDO WR SURYLGH WKH EHVW SLFWXUH :KHQ YLHZLQJ DQDORJXH SLFWXUHV LQWHUIHUHQFH VXFK DV VLJQDO UHIOHFWLRQ IURP QHDUE\ EXLOGLQJV RU PRXQWDLQV FDXVHV jJKRVWLQJ EXW VWLOO SURYLGHV D YLHZDEOH SLFWXUH )RU WKH '9% V\VWHP LQWHU
)25 <285 *8,'$1&( : 6HUYLFH %HIRUH UHTXHVWLQJ VHUYLFH SOHDVH UHIHU WR WKH WURXEOHVKRRWLQJ JXLGH RQ SDJHV DQG WR GHWHUPLQH WKH V\PSWRPV 7R REWDLQ VHUYLFH SOHDVH FRQWDFW \RXU ORFDO 3DQDVRQLF GHDOHU TXRWLQJ WKH PRGHO QXPEHU DQG VHULDO QXPEHU ERWK DUH ORFDWHG DW WKH UHDU RI WKH 79 : 79 *DPHV +RPH &RPSXWHUV ([WHQGHG XVH RI 79 JDPHV RU KRPH FRPSXWHUV ZLWK DQ\ WHOHYLVLRQ VHW FDQ FDXVH D SHUPDQHQW jVKDGRZ RQ WKH VFUHHQ 7KLV W\SH RI LUUHYHUVLEOH SLFWXUH WXEH GDPDJH FDQ EH OLPLWHG E\ REVHUYLQJ WKH IROO
6DOHV DQG 6XSSRUW ,QIRUPDWLRQ &XVWRPHU &DUH &HQWUH : )RU 8. FXVWRPHUV : )RU 5HSXEOLF RI ,UHODQG FXVWRPHUV : 9LVLW RXU ZHEVLWH IRU SURGXFW LQIRUPDWLRQ ZZZ SDQDVRQLF FR XN : ( PDLO FXVWRPHU FDUH#SDQDVRQLF FR XN 'LUHFW 6DOHV DW 3DQDVRQLF 8.
