Flir BelgiumBA WFBT10 Marine Multifunctional Display with 802.11b/g & Bluetooth User Manual a c e Series Installation and operation instructions 81337 10 EN WEB

Raymarine UK Ltd. Marine Multifunctional Display with 802.11b/g & Bluetooth a c e Series Installation and operation instructions 81337 10 EN WEB

a-c-e Series Installation and operation instructions 81337-10-EN_WEB - part 3

&KDSWHU  $ODUPV DQG 0DQ RYHU ERDUG IXQFWLRQV&KDSWHU FRQWHQWV  8VLQJ 0DQ 2YHUERDUG 02% IXQFWLRQV RQ SDJH   $ODUPV RQ SDJH $ODUPV DQG 0DQ RYHU ERDUG IXQFWLRQV 
 8VLQJ 0DQ 2YHUERDUG 02%IXQFWLRQV0DQ RYHUERDUG,I \RX ORVH D SHUVRQ RU REMHFW RYHUERDUG \RX FDQ XVH WKH 0DQ2YHUERDUG 02% IXQFWLRQ WR PDUN WKH SRVLWLRQ WKDW WKH YHVVHOZDV DW ZKHQ WKH 02% IXQFWLRQ ZDV DFWLYDWHG7KH 02% IXQFWLRQ LV DYDLODEOH DW DOO WLPHV UHJDUGOHVV RI ZKLFKDSSOLFDWLRQ LV UXQQLQJ 02% FDQ EH VHW WR 'HDG 5HFNRQLQJRU 3RVLWLRQ PRGH 'HDG 5HFNRQLQJ PRGH ZLOO WDNH LQWRFRQVLGHUDWLRQ WKH HIIHFWV RI ZLQG DQG WLGHV 7KLV XVXDOO\ SURYLGHVD PRUH DFFXUDWH FRXUVH 3RVLWLRQ PRGH GRHV QRW WDNH WKHVHIDFWRUV LQWR DFFRXQW7R REWDLQ D 02% SRVLWLRQ \RXU PXOWLIXQFWLRQ GLVSOD\ PXVW KDYHD *36 SRVLWLRQ ¿[ ,I \RXUH XVLQJ GHDG UHFNRQLQJ KHDGLQJ DQGVSHHG GDWD PXVW DOVR EH DYDLODEOH:KHQ 02% LV DFWLYDWHG $Q DXGLEOH 02% DODUP LV VRXQGHG $Q 02% DODUP GLDORJ ER[ LV GLVSOD\HG 7KH V\VWHP VHQGV 02% DODUPV WR RWKHU 5D\PDULQHHTXLSPHQW 7KH DFWLYH FKDUW DSSOLFDWLRQ LV FKDQJHG WR D ORZGHWDLO 'YLHZ ZLWK DQ LQLWLDO UDQJH RI  P  IW 0RWLRQ PRGH LV VHWWR $XWR 5DQJH 7KH DFWLYH UDGDU DSSOLFDWLRQ UDQJH LV FKDQJHG WR  P IW $OO *RWR DQG )ROORZ IXQFWLRQV DUH GLVDEOHG LQ DOO DSSOLFDWLRQV1DYLJDWLRQ WR DQ\ DFWLYH ZD\SRLQW LV VWRSSHG DQG DQ\ H[LVWLQJQDYLJDWLRQ IXQFWLRQ LV FDQFHOOHG ,I SRVLWLRQ RU KHDGLQJ DQG VSHHG LQIRUPDWLRQ LV DYDLODEOH D02% ZD\SRLQW LV SODFHG DW WKH FXUUHQW YHVVHO SRVLWLRQ LQ DQ\DSSOLFDWLRQ WKDW LV FDSDEOH RI VKRZLQJ ZD\SRLQWV DQG YHVVHOSRVLWLRQ 02% GDWD LV GLVSOD\HG LQ WKH GDWDEDU UHSODFLQJ WKH H[LVWLQJGDWD 02% GDWD LV GLVSOD\HG RQ WKH KRPHVFUHHQ UHSODFLQJ WKHVWDWXV LFRQV $V WKH YHVVHO PRYHV DZD\ IURP WKH 02% SRVLWLRQ D GRWWHGOLQH LV GLVSOD\HG MRLQLQJ WKH 02% SRVLWLRQ ZLWK WKH YHVVHOVSRVLWLRQ:KHQ WKH 02% DODUP LV FDQFHOOHG 02% GDWD LV UHPRYHG IURP WKH UHOHYDQW DSSOLFDWLRQV 7KH FKDUW DSSOLFDWLRQ PRWLRQ PRGH LV UHVHW 7KH FKDUW LV FHQWHUHG RQ WKH YHVVHO DQG SLWFK  URWDWLRQ VHWWR GHIDXOW *272 DQG URXWH IXQFWLRQV DUH UHVWRUHG 7KH GDWDEDU PRGH LV UHVHW $ 02% QRUPDO PRGH VLJQDO LV VHQW WR DQ\ LQVWUXPHQW RQ6HD7DON$FWLYDWLQJ WKH PDQ RYHUERDUG 02% DODUP2Q PXOWLIXQFWLRQ GLVSOD\V ZLWK SK\VLFDO EXWWRQV RU ZKHQ XVLQJ DUHPRWH NH\SDG \RX FDQ XVH WKH :37 02% EXWWRQ WR DFWLYDWHWKH 02% DODUP 3UHVV DQG KROG WKH :37  02% EXWWRQ IRU  VHFRQGV$FWLYDWLQJ WKH PDQ RYHUERDUG 02%DODUP ² 7RXFK RQO\ GLVSOD\V2Q D 7RXFK RQO\ GLVSOD\ \RX FDQ XVH WKH RQVFUHHQ :37 02%LFRQ WR DFWLYDWH WKH 02% DODUP 3UHVV DQG KROG WKH RQVFUHHQ :37  02% LFRQ IRU  VHFRQGV6LOHQFLQJ WKH 02% DODUP7KH 02% DODUP FDQ EH VLOHQFHG E\ IROORZLQJ WKH VWHSV EHORZ:LWK D 02% DODUP DFWLYH 6HOHFW 2N RQ WKH 02% DODUP GLDORJ7KH DODUP ZLOO EH VLOHQFHG EXW UHPDLQV DFWLYH&DQFHOOLQJ WKH PDQ RYHUERDUG 02%DODUP ² 7RXFK RQO\ GLVSOD\2Q D 7RXFK RQO\ GLVSOD\ \RX FDQ FDQFHO WKH 02% DODUP DQGUHVXPH QRUPDO RSHUDWLRQ IROORZ WKH VWHSV EHORZ 3UHVV DQG KROG WKH RQVFUHHQ :37  02% LFRQ IRU  VHFRQGV7KH 02% DODUP LV FDQFHOOHG DQG QRUPDO RSHUDWLRQ LVUHVXPHG&DQFHOOLQJ WKH PDQ RYHUERDUG 02% DODUP2Q D PXOWLIXQFWLRQ GLVSOD\ ZLWK SK\VLFDO EXWWRQV RU ZKHQ XVLQJD UHPRWH NH\SDG \RX FDQ FDQFHO WKH 02% DODUP DQG UHVXPHQRUPDO RSHUDWLRQ IROORZ WKH VWHSV EHORZ 3UHVV DQG KROG WKH :37  02% EXWWRQ IRU  VHFRQGV7KH 02% DODUP LV FDQFHOOHG DQG QRUPDO RSHUDWLRQ LVUHVXPHG D 6HULHV  F 6HULHV  H 6HULHV
 $ODUPV$ODUPV DOHUW \RX WR D VLWXDWLRQ RU KD]DUG UHTXLULQJ \RXU DWWHQWLRQ<RX FDQ VHW XS DODUPV WR DOHUW \RX WR FHUWDLQ FRQGLWLRQV VXFK DVFROOLVLRQ ZDUQLQJV DQG WHPSHUDWXUH OLPLWV$ODUPV DUH UDLVHG E\ V\VWHP IXQFWLRQV DQG DOVR H[WHUQDOHTXLSPHQW FRQQHFWHG WR \RXU PXOWLIXQFWLRQ GLVSOD\:KHQ DQ DODUP VRXQGV D PHVVDJH GLDORJ LV GLVSOD\HG RQ \RXUPXOWLIXQFWLRQ GLVSOD\ DQG DQ\ QHWZRUNHG GLVSOD\V 7KH GLDORJVWDWHV WKH UHDVRQ IRU WKH DODUP<RX FDQ FRQ¿JXUH WKH EHKDYLRU RI FHUWDLQ DODUPV E\ VHOHFWLQJ WKH(GLW RSWLRQ RQ WKH PHVVDJH GLDORJ RU E\ XVLQJ WKH $ODUPV PHQXDFFHVVLEOH IURP WKH KRPHVFUHHQ YLD WKH 6HW8S LFRQ6LOHQFLQJ&DQFHOOLQJ DODUPV7R VLOHQFHFDQFHO DQ DFWLYH DODUP 6HOHFW 2N RQ WKH DODUP PHVVDJH GLDORJ1RWH 2QFH VLOHQFHG VRPH DODUPV PD\ UHPDLQ DFWLYH$ODUPV DQG 0DQ RYHU ERDUG IXQFWLRQV 
$ODUPV PHQX0HQX LWHP 'HVFULSWLRQ 2SWLRQV02% 'DWD 7\SH 'HWHUPLQHV ZKHWKHU 3RVLWLRQ RU 'HDG 5HFNRQLQJ '5 GDWD LVGLVSOD\HG $VVXPLQJ WKDW \RXU YHVVHO DQG WKH 02% DUH VXEMHFW WR WKHVDPH WLGH DQG ZLQG HIIHFWV WKH 'HDG 5HFNRQLQJ VHWWLQJ QRUPDOO\JLYHV D PRUH DFFXUDWH FRXUVH 'HDG 5HFNRQLQJ 3RVLWLRQ GHIDXOW$ODUP &ORFN :KHQ VHW WR 2Q DQ DODUP LV WULJJHUHG DW WKH WLPH \RX VSHFLI\ IRU WKH$ODUP &ORFN 7LPH VHWWLQJ$ODUP &ORFN 2II GHIDXOW 2Q$ODUP &ORFN 7LPH  GHIDXOW  WR  KUV$QFKRU 'ULIW :KHQ VHW WR 2Q WKH $QFKRU 'ULIW DODUP LV WULJJHUHG ZKHQ \RXU YHVVHOGULIWV IURP \RXU DQFKRU SRVLWLRQ E\ PRUH WKDQ WKH GLVWDQFH \RX VSHFLI\IRU WKH $QFKRU 'ULIW 5DQJH VHWWLQJ$QFKRU 'ULIW 2II GHIDXOW 2Q$QFKRU 'ULIW 5DQJH  ²  QP RU HTXLYDOHQW XQLWV&RXQWGRZQ 7LPHU :KHQ VHW WR 2Q FRXQWV GRZQ WKH WLPH SHULRG \RX VSHFLI\ IRU WKH 7LPHU3HULRG VHWWLQJ DQG WULJJHUV DQ DODUP ZKHQ ]HUR LV UHDFKHG&RXQWGRZQ 7LPHU 2II GHIDXOW 2Q7LPHU 3HULRG KP GHIDXOW KP WR KP$,6 7DUJHWV :KHQ VHW WR 2Q WKH DODUP IRU 'DQJHURXV 7DUJHWV LV HQDEOHG 7KLVRSWLRQ LV RQO\ DYDLODEOH ZKHQ DQ $,6 XQLW LV GHWHFWHG 5HIHU WR WKH $,6VHFWLRQ IRU GHWDLOV'DQJHURXV 7DUJHWV 2Q GHIDXOW 2II(QJLQH $ODUPV :KHQ VHW WR 2Q WKHQ ZDUQLQJ DODUPV IURP FRQQHFWHG HQJLQHPDQDJHPHQW V\VWHPV ZLOO EH GLVSOD\HG RQ WKH PXOWLIXQFWLRQ GLVSOD\(QJLQH $ODUPV 2Q GHIDXOW 2II)LVKÀQGHU 'HHS ,I WKLV RSWLRQ LV VHW WR 2Q DQ DODUP LV WULJJHUHG ZKHQ WKH GHSWKH[FHHGV WKH YDOXH WKDW \RX VSHFLI\ 7KLV RSWLRQ LV RQO\ DYDLODEOH ZKHQD VRQDU PRGXOH LV GHWHFWHG1RWH 7KH )LVK¿QGHU 'HHS DODUP OLPLW FDQQRW EH VHW WR D YDOXHOHVV WKDQ WKH 6KDOORZ /LPLW)LVKÀQGHU 'HHS 2II GHIDXOW 2Q'HHS /LPLW  IW RU HTXLYDOHQW XQLWV WR WKH PD[LPXP RI WKHWUDQVGXFHU UDQJH)LVKÀQGHU 6KDOORZ ,I WKLV RSWLRQ LV VHW WR 2Q DQ DODUP LV WULJJHUHG ZKHQ WKH GHSWK GURSVEHORZ WKH YDOXH WKDW \RX VSHFLI\ 7KLV RSWLRQ LV RQO\ DYDLODEOH ZKHQ DVRQDU PRGXOH LV GHWHFWHG1RWH 7KH )LVK¿QGHU 6KDOORZ DODUP OLPLW FDQQRW EH VHW WR D YDOXHJUHDWHU WKDQ WKH 'HHS /LPLW)LVKÀQGHU 6KDOORZ 2II GHIDXOW 2Q6KDOORZ /LPLW  IW RU HTXLYDOHQW XQLWV WR WKH PD[LPXP RI WKHWUDQVGXFHU UDQJH)LVK ,I WKH )LVK DODUP DQG ¿VK GHSWK OLPLWV DODUP DUH VHW WR 2Q D ZDUQLQJVRXQGV LV WULJJHUHG LI DQ\ WDUJHW PHHWV WKH VHQVLWLYLW\ OHYHO DQG LVZLWKLQ WKH 6KDOORZ )LVK /LPLW DQG 'HHS )LVK /LPLW WKDW \RX VSHFLI\7KH IROORZLQJ LWHPV DUH DYDLODEOH LQ WKH VXEPHQX)LVK ² 6ZLWFKHV ¿VK DODUP 2Q DQG 2II)LVK 6HQVLWLYLW\ ² ,I WKH )LVK DODUP LV VHW WR 2Q DQ DODUP LVWULJJHUHG ZKHQ WKH ¿VK UHWXUQ VWUHQJWK UHDFKHV WKH VHQVLWLYLW\ WKDW\RX VSHFLI\)LVK 'HSWK /LPLWV ² 6ZLWFKHV GHSWK OLPLWV 2Q DQG 2II6KDOORZ )LVK /LPLW ² 6SHFL¿HV WKH ORZHU YDOXH IRU WKH )LVK $ODUP'HSWK /LPLW)LVK 2II GHIDXOW 2Q)LVK 6HQVLWLYLW\  WR )LVK 'HSWK /LPLWV 2Q 2II GHIDXOW6KDOORZ )LVK /LPLW D 6HULHV  F 6HULHV  H 6HULHV
0HQX LWHP 'HVFULSWLRQ 2SWLRQV'HHS )LVK /LPLW ² 6SHFL¿HV WKH XSSHU YDOXH IRU WKH )LVK $ODUP'HSWK /LPLW   IW RU HTXLYDOHQW XQLWV WR WKH PD[LPXP RI WKHWUDQVGXFHU UDQJH'HHS )LVK /LPLW  IW RU HTXLYDOHQW XQLWV WR WKH PD[LPXP RI WKHWUDQVGXFHU UDQJH)XHO 0DQDJHU ,Q WKH IXHO PDQDJHU DODUP RSWLRQV \RX FDQ VZLWFK WKH ORZ IXHO ZDUQLQJDODUP RQ RU RII DQG VSHFLI\ WKH IXHO OHYHO DW ZKLFK WKH DODUP LV WULJJHUHG/RZ )XHO 2Q 2II GHIDXOW)XHO /HYHO  WR *XDUG =RQH 7KH *XDUG =RQH IHDWXUH LQ WKH UDGDU DSSOLFDWLRQ WULJJHUV DQ DODUPZKHQ D WDUJHW LV ZLWKLQ D VSHFL¿HG ]RQH <RX FDQ DGMXVW WKH VHQVLWLYLW\RI WKH DODUP (QVXUH WKDW WKH VHQVLWLYLW\ LV QRW VHW WRR ORZ RU WDUJHWVPD\ EH PLVVHG DQG WKH DODUP ZLOO QRW EH WULJJHUHG*XDUG =RQH 6HQVLWLYLW\  WR 2II 7UDFN :KHQ VHW WR 2Q GXULQJ DFWLYH QDYLJDWLRQ DQ DODUP LV WULJJHUHG ZKHQ\RXU YHVVHO VWHHUV RIIWUDFN PRUH WKDQ WKH YDOXH \RX VSHFLI\ IRU WKH 2II7UDFN ;7( VHWWLQJ2II 7UDFN $ODUP 2II GHIDXOW 2Q2II 7UDFN ;7(  WR  QP RU HTXLYDOHQW XQLWV:DWHU 7HPSHUDWXUH :KHQ VHW WR 2Q WULJJHUV DQ DODUP ZKHQ WKH ZDWHU WHPSHUDWXUH LVHTXDO WR RU ORZHU WKDQ WKH OLPLW \RX VSHFLI\ IRU WKH /RZHU 7HPS /LPLWRU HTXDO WR RU JUHDWHU WKDQ WKH OLPLW \RX VSHFLI\ IRU WKH 8SSHU 7HPS/LPLW VHWWLQJ:DWHU 7HPSHUDWXUH 2II GHIDXOW 2Q/RZHU 7HPS /LPLW  GHJUHHV IDKUHQKHLW RU HTXLYDOHQW XQLWV ± WR  GHJUHHV IDKUHQKHLW RU HTXLYDOHQWXQLWV8SSHU 7HPS /LPLW  GHJUHHV IDKUHQKHLW RU HTXLYDOHQW XQLWV ± WR  GHJUHHV IDKUHQKHLW RU HTXLYDOHQWXQLWV:D\SRLQW $UULYDO :KHQ \RX DUULYH DW D ZD\SRLQW DQ DODUP LV WULJJHUHG 7KLV VHWWLQJDOORZV \RX WR VSHFLI\ WKH GLVWDQFH IURP WKH WDUJHW ZD\SRLQW DW ZKLFKWKH DODUP LV WULJJHUHG 7KH XQLWV XVHG IRU WKLV VHWWLQJ DUH EDVHG RQ WKHXQLWV \RX VSHFLI\ IRU GLVWDQFH LQ WKH 8QLWV 6HWXS PHQX WR  QP RU HTXLYDOHQW XQLWV$FFHVVLQJ WKH DODUPV PHQX)URP WKH KRPHVFUHHQ 6HOHFW 6HWXS 6HOHFW $ODUPV7KH $ODUPV PHQX LV GLVSOD\HG 6HOHFW WKH DSSURSULDWH DODUP FDWHJRU\$ODUPV DQG 0DQ RYHU ERDUG IXQFWLRQV 
 D 6HULHV  F 6HULHV  H 6HULHV
&KDSWHU  '6& 9+) UDGLR LQWHJUDWLRQ&KDSWHU FRQWHQWV  '6& 9+) UDGLR LQWHJUDWLRQ RQ SDJH   (QDEOLQJ '6& 9+) UDGLR LQWHJUDWLRQ RQ SDJH '6& 9+) UDGLR LQWHJUDWLRQ 
 '6& 9+) UDGLR LQWHJUDWLRQ<RX FDQ FRQQHFW \RXU '6& 9+) UDGLR WR \RXU PXOWLIXQFWLRQGLVSOD\ DQG VKRZ GLVWUHVV PHVVDJH LQIRUPDWLRQ DQG *36SRVLWLRQ GDWD IRU RWKHU YHVVHOV&RQQHFWLQJ D '6& 9+) UDGLR WR \RXU PXOWLIXQFWLRQ GLVSOD\SURYLGHV WKH IROORZLQJ DGGLWLRQDO IXQFWLRQDOLW\ 'LVWUHVV 0HVVDJHV ² ZKHQ \RXU '6& 9+) UDGLR UHFHLYHVD '6& PHVVDJH RU DODUP IURP DQRWKHU '6& 9+) UDGLRWKH YHVVHO LGHQWL¿FDWLRQ 006, *36 SRVLWLRQ DQG WLPH RIGLVWUHVV PHVVDJH LV GLVSOD\HG RQ \RXU PXOWLIXQFWLRQ GLVSOD\:LWK WKH GLVWUHVV PHVVDJH GLVSOD\HG \RX FDQ XVH WKH EXWWRQVSURYLGHG WR FOHDU WKH PHVVDJH SODFH D ZD\SRLQW RQ WKH FKDUWDW WKH *36 SRVLWLRQ RI WKH GLVWUHVVHG YHVVHO RU LPPHGLDWHO\VWDUW QDYLJDWLQJ *RWR 9HVVHO WR WKH *36 SRVLWLRQ RI WKHGLVWUHVVHG YHVVHO 3RVLWLRQ 'DWD ² WKH ³3RVLWLRQ 5HTXHVW´ EXWWRQ RQ \RXU '6&9+) UDGLR HQDEOHV \RX WR VHQG DQG UHFHLYH *36 SRVLWLRQ GDWDWR DQG IURP RWKHU YHVVHOV HTXLSSHG ZLWK D '6& 9+) UDGLR)RU LQIRUPDWLRQ RQ LQVWDOOLQJ DQG RSHUDWLQJ \RXU '6& 9+) UDGLRUHIHU WR WKH KDQGERRN WKDW DFFRPSDQLHV WKH UDGLR7KH IROORZLQJ LPDJH VKRZV DQ H[DPSOH RI D GLVWUHVV PHVVDJHGLVSOD\HG RQ D PXOWLIXQFWLRQ GLVSOD\ (QDEOLQJ '6& 9+) UDGLRLQWHJUDWLRQ:LWK WKH KRPHVFUHHQ GLVSOD\HG 6HOHFW 6HWXS 6HOHFW 6\VWHP 6HWWLQJV 6HOHFW WKH '6& $OHUWV RSWLRQ VR WKDW 2Q LV GLVSOD\HG D 6HULHV  F 6HULHV  H 6HULHV
&KDSWHU  )XHO PDQDJHU&KDSWHU FRQWHQWV  )XHO PDQDJHU RYHUYLHZ RQ SDJH )XHO PDQDJHU 
 )XHO PDQDJHU RYHUYLHZ7KH IXHO PDQDJHU SURYLGHV DQ HVWLPDWH RI IXHO UHPDLQLQJ DQGWKH GLVWDQFH DQG WLPH ZKLFK FDQ EH WUDYHOOHG EHIRUH WKH WDQNVDUH HPSW\ ,Q RUGHU WR FDOFXODWH WKHVH YDOXHV \RX PXVW FRQ¿JXUHWKH WRWDO FDSDFLW\ RI IXHO DYDLODEOH WR WKH HQJLQHV DQG ORJ HDFKWLPH \RX DGG IXHO 7KH IXHO PDQDJHU DOVR DOORZV \RX WR VHW DORZ IXHO ZDUQLQJ DODUP ZKLFK LV VRXQGHG ZKHQ WKH YHVVHOVHVWLPDWHG IXHO IDOOV EHORZ D VSHFL¿HG YDOXH7KH IXHO PDQDJHU SDJH SURYLGHV FXUUHQW FDOFXODWLRQ HVWLPDWHVDQG FRQWUROV WR HQDEOH XVH RI WKH IXHO PDQDJHU IHDWXUH,WHP 2SWLRQ 'HVFULSWLRQ%DFN %DFN WR 6\VWHP 6HWXS PHQX ²1HZ H 6HULHV RQO\ )RU 1HZ F6HULHV XVH WKH %DFN EXWWRQ(VWLPDWHG IXHO UHPDLQLQJ*UDSKLFDO UHSUHVHQWDWLRQ RISHUFHQWDJH RI IXHO UHPDLQLQJ LQ WKHIXHO WDQNV$OO WDQNV IXOO 5HVHWV IXHO UHPDLQLQJ WR IXOO WDQNFDSDFLW\7XUQ 2Q2II 7XUQ IXHO PDQDJHU 2Q RU 2II&ORVH %DFN WR +RPHVFUHHQ ² 1HZ H6HULHV RQO\ )RU 1HZ F 6HULHV XVHWKH +RPH EXWWRQ(VWLPDWHG IXHO UHPDLQLQJYRO9ROXPH RI IXHO UHPDLQLQJ LQ WKHIXHO WDQNV5HVHW )XHO XVHG WKLVVHDVRQ5HVHW WKH IXHO XVHG WKLV VHDVRQ WR]HUR5HVHW )XHO XVHG WKLVWULS5HVHW WKH IXHO XVHG WKLV WULS WR]HUR$GG SDUWLDO ÀOO 6SHFLI\ ¿OO DPRXQW E\ YROXPH 6HWXS 6SHFLI\ VHWWLQJV IRU IXHO PDQDJHU,Q RUGHU WR XVH WKH IXHO PDQDJHU \RX PXVW &RQQHFW D FRPSDWLEOH HQJLQH LQWHUIDFH WR HDFK HQJLQH \RXZLVK WR PRQLWRU WR SURYLGH IXHO ÀRZ UDWH GDWD WR WKH QHWZRUN (QWHU WKH WRWDO IXHO FDSDFLW\ RI WKH YHVVHO¶V IXHO WDQNV 7XUQ RQ WKH IXHO PDQDJHU IHDWXUH )LOO WKH IXHO WDQNV WR IXOO 6HOHFW µ$OO WDQNV IXOO¶ /RJ HDFK VXEVHTXHQW IXHO ¿OO ZKHWKHU SDUWLDO RU IXOO1RWH)XHO PDQDJHU HVWLPDWHV WKH DPRXQW RI IXHO RQERDUG EDVHG RQWKH XVHU ORJJLQJ HDFK WLPH \RX ¿OO XS WKH WRWDO IXHO FDSDFLW\DQG KRZ PXFK IXHO LV EXUQHG E\ WKH HQJLQHV $Q\ LQFRUUHFWHQWU\ FRXOG GUDPDWLFDOO\ DIIHFW WKH HVWLPDWHG IXHO XVDJH DQGFDSDFLW\ ZKLFK FRXOG UHVXOW LQ D VKRUWDJH RI IXHO 7KLV V\VWHPLV QRW D VXEVWLWXWH IRU RWKHU W\SHV RI IXHO FDOFXODWLRQV7RWDO IXHO RQERDUG LV DQ HVWLPDWH DQG ZLOO EH LQDFFXUDWH LI IXHO¿OOV DUH QRW HQWHUHG RU IXHO LV XVHG E\ RWKHU VRXUFHV HJJHQHUDWRUV HWF (VWLPDWHG GLVWDQFH DQG WLPH WR HPSW\ ZLOOEH EDVHG RQ WKH IXHO UHPDLQLQJ FDOFXODWLRQ DQG YDOXHV GR QRWLQFOXGH ZHDWKHUWLGH HIIHFWV<RX VKRXOG QRW UHO\ RQ WKH IXHO PDQDJHU FDOFXODWLRQV IRUDFFXUDWH YR\DJH SODQQLQJ RU LQ HPHUJHQF\ DQG VDIHW\ FULWLFDOVLWXDWLRQV(QDEOLQJ WKH IXHO PDQDJHU7R WXUQ WKH IXHO PDQDJHU RQ DQG RII IROORZ WKH VWHSV EHORZ)URP WKH KRPHVFUHHQ 6HOHFW 6HWXS 6HOHFW )XHO 0DQDJHU 6HOHFW 7XUQ 2Q7KH IXHO PDQDJHU GLVFODLPHU LV GLVSOD\HG 6HOHFW $&&(37 WR DFFHSW WKH GLVFODLPHU DQG VWDUW XVLQJ WKHIXHO PDQDJHU7KH ,QLWLDOL]H IXHO PDQDJHU SRSXS LV GLVSOD\HG 6HOHFW 2.7KH IXHO PDQDJHU ZLOO VWDUW WKH QH[W WLPH WKH $OO WDQNV IXOO LFRQLV SUHVVHG'LVDEOLQJ WKH IXHO PDQDJHU)URP WKH IXHO PDQDJHU SDJH 6HOHFW 7XUQ 2II7KH GHDFWLYDWH IXHO PDQDJHU SRSXS PHVVDJH LV GLVSOD\HG 6HOHFW <HV WR WXUQ RII WKH IXHO PDQDJHU6HWWLQJ XS IXHO PDQDJHU7R VHW XS WKH UHTXLUHG VHWWLQJV IRU WKH IXHO PDQDJHU IROORZ WKHVWHSV EHORZ:LWK WKH )XHO 0DQDJHU SDJH GLVSOD\HG 6HOHFW 6HWXS 6HOHFW 7RWDO )XHO &DSDFLW\7KH QXPHULF NH\SDG LV GLVSOD\HG (QWHU \RXU YHVVHO¶V WRWDO IXHO FDSDFLW\ 6HOHFW 2N 6HOHFW (FRQRP\ 8QLWV$ OLVW RI DYDLODEOH RSWLRQV LV GLVSOD\HG 'LVWDQFH SHU 9ROXPH 9ROXPH SHU 'LVWDQFH /LWUHV SHU NP 6HOHFW WKH UHTXLUHG HFRQRP\ XQLWV 6HOHFW )XHO &DOFXODWLRQV WR VHOHFW WKH GHVLUHG PHWKRG RIFDOFXODWLRQ7KH IROORZLQJ RSWLRQV DUH DYDLODEOH )XHO 8VHG 3*1 )XHO )ORZ 5DWH1RWH ,I WKH )XHO 8VHG 3*1 LV QRW DYDLODEOH RQ \RXUQHWZRUN \RX ZLOO QHHG WR XVH WKH )XHO )ORZ 5DWH RSWLRQ :KHQ)XHO )ORZ 5DWH LV VHOHFWHG WKHQ \RXU PXOWLIXQFWLRQ GLVSOD\PXVW UHPDLQ SRZHUHG RQ ZKLOVW WKH HQJLQHV DUH UXQQLQJ WRHQDEOH WKH IXHO FDOFXODWLRQ WR EH PDGH 6HOHFW %DFN WR JR EDFN WR WKH )XHO 0DQDJHU SDJH D 6HULHV  F 6HULHV  H 6HULHV
)XHO ORJJLQJ<RX PXVW HQVXUH DOO IXHO ¿OOV DUH UHFRUGHG XVLQJ WKH IXHOPDQDJHU)URP WKH IXHO PDQDJHU SDJH :KHQ ¿OOLQJ WKH WDQNV XQWLO IXOO VHOHFW $OO WDQNV IXOO7KH HVWLPDWHG IXHO UHPDLQLQJ LV UHVHW WR WKH YDOXH RI \RXUIXHO WDQNV FDSDFLW\ :KHQ RQO\ SDUWLDOO\ ¿OOLQJ WKH WDQN PDNH D QRWH RI WKH YROXPHRI IXHO DGGHG WR WKH WDQN DQG WKHQ VHOHFW $GG SDUWLDO ¿OO (QWHU WKH YDOXH QRWHG HDUOLHU WKLV ZLOO EH DGGHG WR \RXU FXUUHQWIXHO UHPDLQLQJ ¿JXUH1RWH ,W LV UHFRPPHQGHG WKDW \RX SHUIRUP DQ µ$OO WDQNV IXOO¶ ¿OOXS DV UHJXODUO\ DV SRVVLEOH DV SDUWLDO ¿OOV ZLOO FDXVH D KLJKHUFXPXODWLYH LQDFFXUDF\ LQ WKH SURYLGHG FDOFXODWLRQV6HWWLQJ WKH ORZ IXHO DODUP8VLQJ WKH IXHO PDQDJHU DOVR DOORZV \RX WR VHW D ORZ IXHO DODUPZKLFK LI DFWLYDWHG LV VRXQGHG ZKHQ \RXU YHVVHO¶V UHPDLQLQJIXHO IDOOV WR D VSHFL¿HG YDOXH:LWK WKH IXHO PDQDJHU WXUQHG RQ DQG VHW XS FRUUHFWO\ )URP WKH KRPHVFUHHQ VHOHFW 6HW8S 6HOHFW $ODUPV 6HOHFW )XHO PDQDJHU7KH ORZ IXHO DODUP VHWWLQJV DUH GLVSOD\HG 6HOHFW /RZ )XHO VR WKDW 2Q LV KLJKOLJKWHG6HOHFWLQJ /RZ )XHO ZLOO WXUQ WKH ORZ IXHO DODUP 2Q RU 2II 6HOHFW )XHO /HYHO7KH IXHO OHYHO QXPHULF DGMXVW FRQWURO LV GLVSOD\HG $GMXVW WKH IXHO OHYHO WR WKH UHTXLUHG YDOXH7KH ORZ IXHO DODUP ZLOO QRZ EH VRXQGHG ZKHQ WKH IXHO UHPDLQLQJLQ WKH WDQN IDOOV WR WKH YDOXH VSHFL¿HG1RWH %\ GHIDXOW WKH ORZ IXHO DODUP LV VZLWFKHG RII5HVHWWLQJ IXHO XVHG UHDGLQJV<RX FDQ UHVHW WKH YDOXH RI WKH IXHO XVHG WKLV VHDVRQ RU IXHO XVHGWKLV WULS E\ IROORZLQJ WKH VWHSV EHORZ)URP WKH IXHO PDQDJHU SDJH 6HOHFW 5HVHW DJDLQVW IXHO XVHG WKLV VHDVRQ RU 6HOHFW 5HVHW DJDLQVW IXHO XVHG WKLV WULS7KH YDOXH LV VHW WR ]HUR DIWHU 5HVHW KDV EHHQ VHOHFWHG1RWH 3HUIRUPLQJ D 6HDVRQ UHVHW DXWRPDWLFDOO\ UHVHWV WKHWULS YDOXH)XHO UDQJH ULQJV7KH IXHO UDQJH ULQJ JLYHV DQ HVWLPDWHG UDQJH WKDW FDQ EHUHDFKHG ZLWK WKH HVWLPDWHG IXHO UHPDLQLQJ RQERDUG7KH IXHO UDQJH ULQJ FDQ EH GLVSOD\HG JUDSKLFDOO\ LQ WKH FKDUWDSSOLFDWLRQ DQG LQGLFDWHV DQ HVWLPDWHG UDQJH WKDW FDQ EHUHDFKHG ZLWK WKH &XUUHQW UDWH RI IXHO FRQVXPSWLRQ (VWLPDWHG IXHO UHPDLQLQJ RQERDUG &RXUVH UHPDLQLQJ LQ D VWUDLJKW OLQH &XUUHQW VSHHG PDLQWDLQHG1RWH7KH IXHO UDQJH ULQJ LV DQ HVWLPDWHG UDQJH WKDW FDQ EH UHDFKHGDW WKH FXUUHQW UDWH RI IXHO FRQVXPSWLRQ RI WKH IXHO RQERDUGDQG EDVHG RQ D QXPEHU RI H[WHUQDO IDFWRUV ZKLFK FRXOG HLWKHUH[WHQG RU VKRUWHQ WKH SURMHFWHG UDQJH7KLV HVWLPDWH LV EDVHG RQ GDWD UHFHLYHG IURP H[WHUQDO IXHOPDQDJHPHQW GHYLFHV RU YLD WKH )XHO 0DQDJHU ,W GRHV QRWWDNH LQWR DFFRXQW SUHYDLOLQJ FRQGLWLRQV VXFK DV WLGH FXUUHQWVHD VWDWH ZLQG HWF<RX VKRXOG QRW UHO\ RQ WKH IXHO UDQJH ULQJ IHDWXUH IRU DFFXUDWHYR\DJH SODQQLQJ RU LQ HPHUJHQF\ DQG VDIHW\ FULWLFDO VLWXDWLRQV(QDEOLQJ WKH IXHO UDQJH ULQJ)URP WKH FKDUW DSSOLFDWLRQ LQ ' YLHZ 6HOHFW 0HQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW )XHO 5DQJH 5LQJ VR WKDW 2Q LV VHOHFWHG7KH IXHO UDQJH ULQJ SRSXS PHVVDJH LV GLVSOD\HG 6HOHFW 2. WR WXUQ RQ WKH IXHO UDQJH ULQJV)XHO PDQDJHU 
 D 6HULHV  F 6HULHV  H 6HULHV
&KDSWHU  $,6 IXQFWLRQ&KDSWHU FRQWHQWV  $,6 RYHUYLHZ RQ SDJH   $,6 SUHUHTXLVLWHV RQ SDJH   $,6 FRQWH[W PHQX RQ SDJH   (QDEOLQJ $,6 RQ SDJH   'LVSOD\LQJ $,6 YHFWRUV RQ SDJH   $,6 VWDWXV V\PEROV RQ SDJH   $,6 VLOHQW PRGH RQ SDJH   $,6 WDUJHW V\PEROV RQ SDJH   'LVSOD\LQJ GHWDLOHG $,6 WDUJHW LQIRUPDWLRQ RQ SDJH   9LHZLQJ DOO $,6 WDUJHWV RQ SDJH   8VLQJ $,6 WR DYRLG FROOLVLRQV RQ SDJH   7DUJHW RSWLRQV RQ SDJH   $,6 DODUPV RQ SDJH   %XGG\ WUDFNLQJ RQ SDJH $,6 IXQFWLRQ 
 $,6 RYHUYLHZ7KH $,6 IHDWXUH HQDEOHV \RX WR UHFHLYH LQIRUPDWLRQ EURDGFDVW E\RWKHU YHVVHOV DQG WR DGG WKHVH YHVVHOV DV WDUJHWV LQ WKH FKDUWDQG UDGDU DSSOLFDWLRQV:LWK DQ RSWLRQDO $,6 XQLW FRQQHFWHG WR \RXU V\VWHP \RX FDQ 'LVSOD\ WDUJHWV IRU DQ\ RWKHU $,6HTXLSSHG YHVVHOV 'LVSOD\ YR\DJH LQIRUPDWLRQ EHLQJ EURDGFDVW E\ WKHVH WDUJHWVVXFK DV WKHLU SRVLWLRQ FRXUVH VSHHG DQG UDWHRIWXUQ 'LVSOD\ EDVLF RU GHWDLOHG LQIRUPDWLRQ IRU HDFK WDUJHW YHVVHOLQFOXGLQJ VDIHW\FULWLFDO WDUJHW GDWD 6HW XS D VDIH ]RQH DURXQG \RXU YHVVHO 9LHZ $,6 DODUP DQG VDIHW\UHODWHG PHVVDJHV $GG $,6HTXLSSHG IULHQGV DQG UHJXODU FRQWDFWV WR D ³%XGG\/LVW´$,6 LQIRUPDWLRQ LV GLVSOD\HG LQ WKH IRUP RI DQ RYHUOD\ LQ WKH FKDUWDQG UDGDU DSSOLFDWLRQV $GGLWLRQDO GDWD LV GLVSOD\HG LQ D GLDORJER[ IRU H[DPSOH,WHP 'HVFULSWLRQ'DQJHURXV WDUJHW ÀDVKHV6DIH ]RQH GH¿QHG E\ GLVWDQFH DQG RU WLPH$,6 WDUJHW YHVVHO +HDGLQJ'LUHFWLRQ RI WXUQ&2*62* YHFWRU6DIHW\ FULWLFDO GDWD$,6HTXLSSHG YHVVHOV LQ WKH VXUURXQGLQJ DUHD DUH GLVSOD\HGLQ WKH FKDUW RU UDGDU DSSOLFDWLRQ DV WULDQJXODU WDUJHWV 8S WR WDUJHWV DUH GLVSOD\HG $V WKH YHVVHO¶V VWDWXV FKDQJHV WKHV\PERO IRU WKH WDUJHW FKDQJHV DFFRUGLQJO\9HFWRUV FDQ EH GLVSOD\HG IRU HDFK WDUJHW 7KHVH YHFWRUV LQGLFDWHWKH YHVVHOV GLUHFWLRQ RI WUDYHO DQG WKH GLVWDQFH LW ZLOO WUDYHORYHU D VSHFL¿HG SHULRG RI WLPH &2*  62* YHFWRU 7DUJHWVGLVSOD\HG ZLWK WKHLU YHFWRUV DUH UHIHUUHG WR DV µDFWLYH WDUJHWV¶ DQGDUH VFDOHG DFFRUGLQJ WR WKH VL]H RI WKH YHVVHO 7KH ODUJHU WKHYHVVHO WKH ODUJHU WKH WDUJHW <RX FDQ HLWKHU GLVSOD\ DOO WDUJHWV RUMXVW GDQJHURXV WDUJHWV+RZ $,6 :RUNV$,6 XVHV GLJLWDO UDGLR VLJQDOV WR EURDGFDVW µUHDOWLPH¶ LQIRUPDWLRQEHWZHHQ YHVVHOV DQG VKRUHEDVHG VWDWLRQV YLD GHGLFDWHG 9+)UDGLR IUHTXHQFLHV 7KLV LQIRUPDWLRQ LV XVHG WR LGHQWLI\ DQG WUDFNYHVVHOV LQ WKH VXUURXQGLQJ DUHD DQG WR SURYLGH IDVW DXWRPDWLFDQG DFFXUDWH FROOLVLRQ DYRLGDQFH GDWD 7KH $,6 IHDWXUHVFRPSOHPHQW WKH UDGDU DSSOLFDWLRQ DV $,6 FDQ RSHUDWH LQ UDGDUEOLQG VSRWV DQG FDQ GHWHFW VPDOOHU YHVVHOV HTXLSSHG ZLWK $,61RWH ,W PD\ QRW EH PDQGDWRU\ IRU YHVVHOV WR EH ¿WWHG ZLWKRSHUDWLRQDO $,6 HTXLSPHQW 7KHUHIRUH \RX VKRXOG QRW DVVXPHWKDW \RXU PXOWLIXQFWLRQ GLVSOD\ ZLOO VKRZ $// YHVVHOV LQ \RXUDUHD 'XH SUXGHQFH DQG MXGJHPHQW VKRXOG EH H[HUFLVHG $,6VKRXOG EH XVHG WR FRPSOHPHQW UDGDU 127 VXEVWLWXWH LW$,6 6LPXODWRU 0RGH5D\PDULQH UHFRPPHQGV WKDW \RX XVH WKH VLPXODWRU IXQFWLRQ WRIDPLOLDUL]H \RXUVHOI ZLWK WKH $,6 IHDWXUHV :KHQ WKH VLPXODWRUIXQFWLRQ LV HQDEOHG KRPHVFUHHQ ! 6HWXS ! 6\VWHP 6HWWLQJV! 6LPXODWRU LW GLVSOD\V  $,6 WDUJHWV ZLWKLQ D  QP UDQJH7KHVH WDUJHWV DUH GLVSOD\HG XVLQJ WKH DSSURSULDWH $,6 WDUJHWVVWDWXV V\PERO DQG PRYH DURXQG WKH VFUHHQ DV LI WKH\ ZHUH UHDOWDUJHWV1RWH ,QFRPLQJ VDIHW\ PHVVDJHV DUH 127 GLVSOD\HG ZKLOHWKH VLPXODWRU LV HQDEOHG D 6HULHV  F 6HULHV  H 6HULHV
 $,6 SUHUHTXLVLWHV<RX PXVW KDYH VXLWDEOH $,6 KDUGZDUH FRQQHFWHG WR \RXUPXOWLIXQFWLRQ GLVSOD\ WR PDNH XVH RI WKH $,6 IXQFWLRQDOLW\,Q RUGHU WR UXQ $,6 \RX ZLOO QHHG $ UHFHLYHRQO\ $,6 XQLW RU D IXOO $,6 WUDQVFHLYHU D XQLW WKDWVHQGV DQG UHFHLYHV $ 9+) DQWHQQD $ *36  WR SURYLGH SRVLWLRQ GDWD 7KH $,6 OD\HU HQDEOHG LQ WKH FKDUW RU UDGDU DSSOLFDWLRQ DVDSSURSULDWH1RWH $ UHFHLYHU ZLOO DOORZ \RX WR UHFHLYH GDWD DERXW RWKHUYHVVHOV LQ \RXU DUHD EXW ZLOO QRW DOORZ RWKHU YHVVHOV WR µVHH¶\RX $ IXOO WUDQVFHLYHU WUDQVPLWV DQG UHFHLYHV $,6 GDWD DQGWKHUHIRUH DOORZV \RX WR UHFHLYH GDWD DERXW RWKHU YHVVHOV ,WDOVR HQDEOHV RWKHU $,6HTXLSSHG YHVVHOV WR VHH DQG UHFHLYHLQIRUPDWLRQ DERXW \RXU YHVVHO 7KLV FRXOG LQFOXGH SRVLWLRQFRXUVH VSHHG DQG UDWH RI WXUQ GDWD:KHQ WKH $,6 XQLW LV FRQQHFWHG WR \RXU PXOWLIXQFWLRQ GLVSOD\ WKHVWDWXV RI WKH XQLW LV LQGLFDWHG E\ DQ $,6 LFRQ LQ WKH VWDWXV EDU<RX FDQ FRQQHFW DQ $,6 XQLW WR \RXU PXOWLIXQFWLRQ GLVSOD\XVLQJ 10($ RU 6HD7DONQJ GHSHQGLQJ RQ WKH $,6 XQLW ,IFRQQHFWLQJ XVLQJ 10($ \RX ZLOO QRZ QHHG WR VSHFLI\ WKH EDXG VHWWLQJ KRPHVFUHHQ ! 6HWXS ! 6\VWHP 6HWWLQJV! 10($ 6HWXS IRU WKH 10($ LQSXW SRUW WKDW FRPPXQLFDWHVZLWK WKH $,6 WUDQVFHLYHU RU UHFHLYHU $,6 FRQWH[W PHQX7KH $,6 IXQFWLRQ LQFOXGHV D FRQWH[W PHQX ZKLFK SURYLGHV $,6WDUJHW LQIRUPDWLRQ DQG PHQX LWHPV7KH FRQWH[W PHQX SURYLGHV WKH IROORZLQJ $,6 WDUJHW GDWD 006, &3$ 7&3$ &2* 62*7KH FRQWH[W PHQX DOVR SURYLGH WKH IROORZLQJ PHQX LWHPV$,6 9HFWRU ² 6ZLWFK WDUJHW YHFWRUV 2Q DQG 2II$,6 'DWD ² 6ZLWFK RQ VFUHHQ WDUJHW GDWD 2Q DQG 2II9LHZ )XOO 'DWD$GG %XGG\ ² $GG WDUJHW WR WKH EXGG\ GLUHFWRU\$FTXLUH 7DUJHW RQO\ DYDLODEOH LI 5DGDU RYHUOD\ LV VZLWFKHGRQ6OHZ WKHUPDO FDPHUD RQO\ DYDLODEOH ZKHQ WKHUPDO FDPHUDLV FRQQHFWHG DQG RSHUDWLQJ$FFHVVLQJ WKH FRQWH[W PHQX<RX FDQ DFFHVV WKH FRQWH[W PHQX E\ IROORZLQJ WKH VWHSV EHORZ 1RQWRXFKVFUHHQ DQG +\EULG7RXFK GLVSOD\VL 6HOHFWLQJ D ORFDWLRQ REMHFW RU WDUJHW RQVFUHHQ DQGSUHVVLQJ WKH 2N EXWWRQ +\EULG7RXFK DQG 7RXFK RQO\ GLVSOD\VL 6HOHFWLQJ DQ REMHFW RU WDUJHW RQVFUHHQLL 6HOHFWLQJ DQG KROGLQJ RQ D ORFDWLRQ RQVFUHHQ$,6 IXQFWLRQ 
 (QDEOLQJ $,6(QDEOLQJ $,6 LQ WKH &KDUW DSSOLFDWLRQ7R HQDEOH WKH $,6 RYHUOD\ LQ WKH &KDUW DSSOLFDWLRQ IROORZ WKHVWHSV EHORZ7R HQDEOH WKH $,6 RYHUOD\ \RXU V\VWHP PXVW LQFOXGH DQ $,6UHFHLYHU RU WUDQVFHLYHU 7KH $,6 RYHUOD\ LV QRW DYDLODEOH LQ 'YLHZ)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW $,6 VR WKDW 2Q LV VHOHFWHG6HOHFWLQJ $,6 VZLWFKHV WKH $,6 EHWZHHQ 2Q DQG 2II)RU $,6 LQIRUPDWLRQ UHIHU WR &KDSWHU  $,6 IXQFWLRQ(QDEOLQJ $,6 LQ WKH UDGDU DSSOLFDWLRQ)URP WKH UDGDU DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 7DUJHWV 6HOHFW 'LVSOD\ $,6 7DUJHWV 6HOHFW WKH UHOHYDQW RSWLRQ IURP WKH OLVW)URP WKH 'LVSOD\ $,6 7DUJHWV PHQX \RX FDQ VZLWFK RQ$OO $,6 WDUJHWV RQO\ 'DQJHURXV $,6 WDUJHWV RU VZLWFK $,6WDUJHWV 2II 'LVSOD\LQJ $,6 YHFWRUV<RX PXVW KDYH WKH FRUUHFW GDWD DYDLODEOH EHIRUH $,6 YHFWRUVFDQ EH GLVSOD\HG$ WDUJHW LV GH¿QHG DV DFWLYH ZKHQ LW KDV WKH IROORZLQJ GDWDGLVSOD\HG JUDSKLFDOO\ $ &2*62* YHFWRU LQGLFDWLQJ WKH SUHGLFWHG GLVWDQFH WKDW DWDUJHW ZLOO WUDYHO ZLWKLQ D JLYHQ SHULRG RI WLPH $ KHDGLQJ DQG GLUHFWLRQ RI WXUQ LQGLFDWRU(QDEOLQJ DQG GLVDEOLQJ $,6 YHFWRUV)URP WKH FKDUW RU UDGDU DSSOLFDWLRQ 6HOHFW DQ $,6 WDUJHW7KH $,6 WDUJHW FRQWH[W PHQX LV GLVSOD\HG 6HOHFW $,6 9HFWRU6HOHFWLQJ $,6 9HFWRU ZLOO VZLWFK EHWZHHQ 2Q DQG 2II1RWH 7KH VDPH WDUJHW YHFWRU DQG VDIH ]RQH VHWWLQJV DSSO\WR ERWK UDGDU 0$53$ DQG $,6 WDUJHWV D 6HULHV  F 6HULHV  H 6HULHV
 $,6 VWDWXV V\PEROV$,6 VWDWXV LV LQGLFDWHG E\ D V\PERO LQ WKH GDWDEDU6\PERO 'HVFULSWLRQ$,6 XQLW LV VZLWFKHG RQ DQG RSHUDWLQJ$,6 FXUUHQWO\ XQDYDLODEOH$,6 XQLW LV VZLWFKHG RII RU QRW FRQQHFWHG$,6 XQLW LV LQ 6LOHQW 0RGH$,6 XQLW LV LQ 6LOHQW 0RGH ZLWK DFWLYH DODUPV$,6 XQLW LV FRQQHFWHG DQG VZLWFKHG RQ EXWKDV DFWLYH DODUPV$,6 XQLW LV FRQQHFWHG DQG VZLWFKHG RQ EXWWKH GDQJHURXV DQG ORVW DODUP LV GLVDEOHG $,6 VLOHQW PRGH$,6 VLOHQW PRGH HQDEOHV \RX WR GLVDEOH $,6 WUDQVPLVVLRQV$,6 VLOHQW PRGH HQDEOHV \RX WR GLVDEOH WKH WUDQVPLWWLQJ IXQFWLRQVRI \RXU $,6 HTXLSPHQW 7KLV LV XVHIXO ZKHQ \RX GR QRW ZDQW WRWUDQVPLW \RXU YHVVHO¶V $,6 GDWD WR RWKHU $,6 UHFHLYHUV EXW VWLOOZLVK WR UHFHLYH GDWD IURP RWKHU YHVVHOV1RWH 1RW DOO $,6 HTXLSPHQW VXSSRUWV VLOHQW PRGH )RU PRUHLQIRUPDWLRQ UHIHU WR WKH GRFXPHQWDWLRQ WKDW DFFRPSDQLHV\RXU $,6 XQLW(QDEOLQJ DQG GLVDEOLQJ $,6 VLOHQW PRGH LQWKH &KDUW DSSOLFDWLRQ)URP WKH &KDUW DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW $,6 2SWLRQV RU 5DGDU  $,6 2SWLRQV 6HOHFW 7DUJHWV 6HOHFW $,6 6HWXS 6HOHFW 6LOHQW 0RGH6HOHFWLQJ 6LOHQW 0RGH ZLOO VZLWFK $,6 VLOHQW PRGH 2Q DQG 2II1RWH:KHQ 5DGDU RYHUOD\ LV DOVR HQDEOHG WKH PHQX QDPHEHFRPHV 5DGDU  $,6 2SWLRQV 6WHS  LV RQO\ UHTXLUHG ZKHQ 5DGDU RYHUOD\ LV HQDEOHG(QDEOLQJ DQG GLVDEOLQJ $,6 6LOHQW 0RGH LQWKH UDGDU DSSOLFDWLRQ)URP WKH 5DGDU DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 7DUJHWV 6HOHFW $,6 6HWXS 6HOHFW 6LOHQW 0RGH6HOHFWLQJ $,6 6LOHQW 0RGH ZLOO VZLWFK VLOHQW PRGH 2Q DQG 2II$,6 IXQFWLRQ 
 $,6 WDUJHW V\PEROV<RXU PXOWLIXQFWLRQ GLVSOD\ VKRZV D UDQJH RI V\PEROV WR UHSUHVHQWWKH GLIIHUHQW W\SHV RI $,6 WDUJHW7DUJHW W\SH 'HVFULSWLRQ 6\PERO7UDQVPLWWLQJ WDUJHW 7DUJHW LV PRYLQJ RU DWDQFKRU 7DUJHW LV QRWDFWLYDWHG GDQJHURXVRU ORVW$FWLYDWHG WDUJHW 7DUJHW DFWLYDWHG ²WKDW LV $,6 YHFWRUGLVSOD\HG 9HFWRUOLQH RSWLRQDO VKRZVSUHGLFWHG GLVWDQFHWUDYHOOHG ZLWKLQ D JLYHQWLPH6HOHFWHG WDUJHW 7DUJHW VHOHFWHG ZLWKFXUVRU &DQ YLHZGHWDLOHG GDWD'DQJHURXV WDUJHW 7DUJHWV ZLWKLQ VSHFL¿HGGLVWDQFH &3$ RU WLPH7&3$ 'DQJHURXVWDUJHW DODUP VRXQGV LIHQDEOHG 7DUJHW UHGDQG ÀDVKLQJ8QFHUWDLQ WDUJHW &DOFXODWHG &3$  7&3$YDOXH XQFHUWDLQ/RVW WDUJHW :KHQ WKH VLJQDO RID GDQJHURXV WDUJHWQRW UHFHLYHG IRU VHFRQGV 7DUJHWLQ ODWHVW SUHGLFWHGSRVLWLRQ $ODUPVVRXQGV LI HQDEOHG7DUJHW ÀDVKHV%XGG\ WDUJHW 7DUJHW KDV SUHYLRXVO\EHHQ DGGHG WR WKH%XGG\ /LVW$LG 7R 1DYLJDWLRQ$7R1 WDUJHW 5HDO$7R1 WDUJHW LV 21SRVLWLRQ$LG 7R 1DYLJDWLRQ$7R1 WDUJHW 5HDO$7R1 WDUJHW LV 2))SRVLWLRQ$LG 7R 1DYLJDWLRQ$7R1 WDUJHW 9LUWXDO$7R1 WDUJHW LV 21SRVLWLRQ$LG 7R 1DYLJDWLRQ$7R1 WDUJHW 9LUWXDO$7R1 WDUJHW LV 2))SRVLWLRQ/DQG EDVH VWDWLRQWDUJHW/DQG EDVH VWDWLRQWDUJHW LV 21/,1(6HDUFK DQG UHVFXHWUDQVSRQGHUV 6$576WDUJHW6$576 WDUJHW6HDUFK DQG UHVFXHDLUFUDIW 6$56 WDUJHW6$56 WDUJHW0LOLWDU\ DQG ODZHQIRUFHPHQW WDUJHW2QO\ GLVSOD\HG ZKHQFRQQHFWHG WR DSSURYHG67('6($,6 $,6KDUGZDUH 'LVSOD\LQJ GHWDLOHG $,6 WDUJHWLQIRUPDWLRQ)URP WKH FKDUW RU UDGDU DSSOLFDWLRQ 6HOHFW DQ $,6 WDUJHW7KH $,6 WDUJHW FRQWH[W PHQX LV GLVSOD\HG 6HOHFW 9LHZ $,6 'DWD$,6 'DWD7KH WDEOH EHORZ VKRZV WKH $,6 WDUJHW LQIRUPDWLRQ ZKLFK LIDYDLODEOH ZLOO EH GLVSOD\HG RQ WKH PXOWLIXQFWLRQ GLVSOD\ 7\SH 6WDWXV 'HVWLQDWLRQ /DVW 6HHQ (7$ 006, &DOO 6LJQ ,02 1R /HQJWK %HDP 'UDXJKW +HDGLQJ 527 3RVLWLRQ &2* 62* &3$ 7&3$1RWH $YDLODEOH GDWD LV GHSHQGDQW XSRQ ZKDW LQIRUPDWLRQ LVEHLQJ WUDQVPLWWHG IURP WKH WDUJHW YHVVHO DQG WKH W\SH RI $,6XQLW FRQQHFWHG WR \RXU V\VWHP D 6HULHV  F 6HULHV  H 6HULHV
 9LHZLQJ DOO $,6 WDUJHWV )URP WKH &KDUW DSSOLFDWLRQ ZLWK RQO\ WKH $,6 RYHUOD\ HQDEOHGJR WR 0HQX ! $,6 2SWLRQV ! 7DUJHWV ! 9LHZ $,6 /LVW )URP WKH &KDUW DSSOLFDWLRQ ZKHQ WKH 5DGDU RYHUOD\ LV DOVRHQDEOHG JR WR 0HQX ! 5DGDU  $,6 2SWLRQV ! 7DUJHWV !9LHZ 7DUJHWV /LVWV ! 9LHZ $,6 /LVW )URP WKH 5DGDU DSSOLFDWLRQ JR WR 0HQX ! 7DUJHWV ! 9LHZ7DUJHW /LVWV ! 9LHZ $,6 /LVW +LJKOLJKW DQ $,6 WDUJHW IURP WKH OLVW:KHQ DQ $,6 WDUJHW LV KLJKOLJKWHG WKH IROORZLQJ GHWDLOV DUHGLVSOD\HG LQ WKH OLVW 006, 5DQJH %HDULQJ %XGG\ 7\SH7KLV OLVW FDQ EH ¿OWHUHG WR VKRZ RQO\ EXGGLHV RU DOO WDUJHWV,I DYDLODEOH WKH IROORZLQJ GDWD LV DOVR VKRZQ IRU WKH KLJKOLJKWHGWDUJHW 62* &2* 527 3RVLWLRQ +HDGLQJ 7R YLHZ IXOO $,6 WDUJHW LQIRUPDWLRQ 6HOHFW D WDUJHW IURP WKH OLVWDQG WKHQ VHOHFW 9LHZ )XOO 7DUJHW 'DWD7KH $,6 WDUJHW LQIR GLDORJ LV GLVSOD\HG VKRZLQJ DOO DYDLODEOHGDWD IRU WKH VHOHFWHG WDUJHW 8VLQJ $,6 WR DYRLG FROOLVLRQV<RX FDQ XVH WKH $,6 VDIH ]RQH DQG VDIHW\ PHVVDJH IXQFWLRQV WRKHOS \RX DYRLG FROOLVLRQV ZLWK RWKHU YHVVHOV DQG REMHFWV6DIH =RQHV$ VDIH ]RQH LV D ULQJ FHQWUHG RQ \RXU YHVVHO ZLWKLQ ZKLFK D WDUJHWLV FRQVLGHUHG GDQJHURXV ,W LV GLVSOD\HG LQ WKH UDGDU RU FKDUWDSSOLFDWLRQV DV D UHG ULQJ7KLV $,6 VDIH ]RQH XVHV WKH VDPH FULWHULD DV 0$53$ DQG ZLOOGHHP D WDUJHW GDQJHURXV LI LW FRPHV ZLWKLQ D VSHFL¿HG GLVWDQFHRI \RXU YHVVHO FORVHVW SRLQW RI DSSURDFK RU &3$ ZLWKLQ DVSHFL¿HG WLPH WLPH WR FORVHVW SRLQW RI DSSURDFK RU 7&3$ 7KH&3$ DQG 7&3$ DUH FDOFXODWHG XVLQJ &2*62* DQG SRVLWLRQIURP WKH $,6 WDUJHW:KHQ \RXU V\VWHP UHFRJQL]HV D GDQJHURXV $,6 WDUJHW 7KH WDUJHW V\PERO FKDQJHV WR UHG DQG ÀDVKHV 7KH GDQJHURXV DODUP GLDORJ LV GLVSOD\HG WKLV FDQ EH GLVDEOHGLI UHTXLUHG 7KH GDQJHURXV DODUP VRXQGV WKLV FDQ EH GLVDEOHG LI UHTXLUHG1RWH :KHQ WKH $,6 XQLW LV FRQQHFWHG DQG IXQFWLRQLQJ WKHV\VWHP ZLOO FKHFN IRU GDQJHURXV WDUJHWV ZLWKLQ WKH VDIH]RQH DQG LI HQDEOHG LVVXH DQ DODUP ZKHQHYHU QHFHVVDU\'DQJHURXV WDUJHW DODUP RSHUDWHV LUUHVSHFWLYH RI WKH VWDWXV RIWKH $,6 WDUJHW GLVSOD\ RU WKH VDIH ]RQH ULQJ6DIHW\ 0HVVDJHV:KHQ WKH VWDWXV RI WKH $,6 6DIHW\ 0HVVDJHV IXQFWLRQ LV VHW WR2Q DQ\ LQFRPLQJ VDIHW\ PHVVDJHV IURP VXUURXQGLQJ YHVVHOVVKRUH VWDWLRQV DQG PRELOH VWDWLRQV DUH GLVSOD\HG LQ D GLDORJ ER[,I NQRZQ WKH PHVVDJH ZLOO LQFOXGH WKH VHQGLQJ YHVVHO¶V SRVLWLRQLQ ODWLWXGH  ORQJLWXGH <RX ZLOO KDYH WKH RSWLRQ WR 5HPRYH WKH PHVVDJH 2N 3ODFH D ZD\SRLQW RQ \RXU FKDUW  UDGDU WR PDUN WKH VHQGLQJYHVVHO¶V SRVLWLRQ 3ODFH :D\SRLQW *RWR WKH VHQGLQJ YHVVHO¶V SRVLWLRQ *RWR :D\SRLQW1RWH <RX ZLOO 127 UHFHLYH DQ\ VDIHW\ PHVVDJHV LQ6LPXODWRU PRGH KRPHVFUHHQ ! 6HWXS ! 6\VWHP 6HWWLQJV! 6LPXODWRU6KRZLQJ WKH 6DIH =RQH 5LQJ LQ WKH &KDUWDSSOLFDWLRQ7R VKRZ WKH 6DIH =RQH ULQJ IROORZ WKH LQVWUXFWLRQV EHORZ)URP WKH &KDUW DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW 6DIH =RQH 5LQJ VR WKDW 6KRZ LV VHOHFWHG6HOHFWLQJ 6DIH =RQH 5LQJ ZLOO VZLWFK WKH ]RQH ULQJ EHWZHHQKLGGHQ WR YLVLEOH6KRZLQJ WKH 6DIH =RQH 5LQJ LQ WKH 5DGDUDSSOLFDWLRQ7R VKRZ WKH 6DIH =RQH ULQJ IROORZ WKH LQVWUXFWLRQV EHORZ)URP WKH 5DGDU DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 6DIH =RQH 5LQJ VR WKDW 6KRZ LV VHOHFWHG6HOHFWLQJ 6DIH =RQH 5LQJ ZLOO VZLWFK WKH ]RQH ULQJ EHWZHHQKLGGHQ WR YLVLEOH(QDEOLQJ DQG GLVDEOLQJ $,6 VDIHW\ PHVVDJHVLQ WKH &KDUW DSSOLFDWLRQ)URP LQ WKH &KDUW DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW $,6 2SWLRQV RU 5DGDU  $,6 2SWLRQV 6HOHFW 7DUJHWV 6HOHFW $,6 6HWXS$,6 IXQFWLRQ 
 6HOHFW 6DIHW\ 0HVVDJHV6HOHFWLQJ 6DIHW\ 0HVVDJHV ZLOO VZLWFK EHWZHHQ VDIHW\PHVVDJHV 2Q DQG 2II1RWH:KHQ 5DGDU RYHUOD\ LV DOVR HQDEOHG WKH PHQX QDPHEHFRPHV 5DGDU  $,6 2SWLRQV 6WHS  LV RQO\ UHTXLUHG ZKHQ 5DGDU RYHUOD\ LV HQDEOHG(QDEOLQJ DQG GLVDEOLQJ $,6 VDIHW\ PHVVDJHVLQ WKH UDGDU DSSOLFDWLRQ)URP LQ WKH UDGDU DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 7DUJHWV 6HOHFW $,6 6HWXS 6HOHFW 6DIHW\ 0HVVDJHV6HOHFWLQJ 6DIHW\ 0HVVDJHV ZLOO VZLWFK EHWZHHQ VDIHW\PHVVDJHV 2Q DQG 2II'LVSOD\LQJ VDIHW\FULWLFDO $,6 LQIRUPDWLRQ)URP WKH FKDUW RU UDGDU DSSOLFDWLRQ 6HOHFW WKH $,6 WDUJHW7KH $,6 WDUJHW FRQWH[W PHQX LV GLVSOD\HG 6HOHFW $,6 'DWD VR WKDW 2Q LV KLJKOLJKWHG6HOHFWLQJ $,6 'DWD ZLOO VZLWFK EHWZHHQ $,6 GDWD 2Q DQG 2II7KH 6DIHW\ FULWLFDO $,6 GDWD ZLOO QRZ EH GLVSOD\HG QH[W WR WKHWDUJHW LQ WKH DSSOLFDWLRQ D 6HULHV  F 6HULHV  H 6HULHV
 7DUJHW RSWLRQV7KH 7DUJHW RSWLRQV PHQX IRU WKH &KDUW DSSOLFDWLRQ DQG 5DGDU DSSOLFDWLRQ DUH VKRZQ EHORZ3DUDPHWHU 'HVFULSWLRQ 2SWLRQV9HFWRU /HQJWK 7KH OHQJWK RI WKH YHFWRU OLQHV GLVSOD\HG GHSHQGV RQ WKHGLVWDQFH WKDW DQ $,6 WDUJHW WUDYHOV LQ WKH WLPH SHULRG WKDW\RX VSHFLI\ IRU WKLV VHWWLQJ  PLQ  PLQ  PLQ  PLQ  PLQ  PLQ  PLQ7DUJHW +LVWRU\ 7DUJHWV¶ SUHYLRXV SRVLWLRQ ZLOO EH SORWWHG DV D WDUJHW LFRQZLWK OLJKWHU VKDGLQJ WKDQ WKH DFWXDO WDUJHW IRU WKH WLPHVSHFL¿HG 2II GHIDXOW  PLQ  PLQ  PLQ  PLQ$,6 IXQFWLRQ 
 $,6 DODUPV7KH $,6 IXQFWLRQV JHQHUDWH D QXPEHU RI DODUPV WR DOHUW \RX WRGDQJHURXV RU ORVW WDUJHWV,Q DGGLWLRQ WR WKH GDQJHURXV WDUJHW DODUP WKH V\VWHP JHQHUDWHVDQ DODUP ZKHQ D GDQJHURXV WDUJHW EHFRPHV D ORVW WDUJHW LH LWVVLJQDO KDV QRW EHHQ UHFHLYHG IRU  VHFRQGV<RXU $,6 UHFHLYHU JHQHUDWHV ORFDO DODUPV ZKLFK DUH GLVSOD\HGDQG VRXQGHG RQ \RXU PXOWLIXQFWLRQ GLVSOD\ ZKHQHYHU DQ DODUPFRQGLWLRQ H[LVWV RQ WKH XQLW/RFDO $,6 DODUPV:KHQ WKH FRQQHFWHG $,6 XQLW JHQHUDWHV DQ DODUP \RXUPXOWLIXQFWLRQ GLVSOD\ VKRZV D ORFDO DODUP PHVVDJH DQG LQGLFDWHVWKH DODUP VWDWXV LQ WKH VWDWXV EDU$FWLYH $,6 DODUPV ORJ7KH DFWLYH DODUP ORJ VKRZV WKH VWDWXV RI HDFK ORFDO DODUP 7KLVORJ FDQ EH DFFHVVHG DV IROORZV IURP WKH &KDUW DSSOLFDWLRQ ZKHQ RQO\ WKH $,6 RYHUOD\ LVHQDEOHG E\ JRLQJ WR 0HQX ! $,6 2SWLRQV ! $,6 6HWXS !$,6 $ODUPV /RJ IURP WKH &KDUW DSSOLFDWLRQ ZKHQ WKH 5DGDU RYHUOD\ LV DOVRHQDEOHG E\ JRLQJ WR 0HQX ! 5DGDU  $,6 2SWLRQV ! 7DUJHWV! $,6 6HWXS ! $,6 $ODUPV /RJ IURP WKH 5DGDU DSSOLFDWLRQ E\ JRLQJ WR 0HQX ! 7DUJHWV ! $,66HWXS ! $,6 $ODUPV /RJ$FNQRZOHGJLQJ $,6 DODUPV,Q WKH FKDUW RU UDGDU DSSOLFDWLRQ 6HOHFW 2N RQ WKH DODUP GLDORJ ER[1RWH $Q $,6 DODUP UHPDLQV DFWLYH XQWLO LW LV DFNQRZOHGJHGRQ \RXU PXOWLIXQFWLRQ GLVSOD\ %XGG\ WUDFNLQJ7KH %XGG\ 7UDFNLQJ IHDWXUH HQDEOHV \RX WR DGG $,6HTXLSSHGIULHQGV DQG UHJXODU FRQWDFWV WR D ³%XGG\ /LVW´ RQ \RXUPXOWLIXQFWLRQ GLVSOD\ $V VRRQ DV D YHVVHO RQ \RXU %XGG\ /LVWVDLOV LQWR WKH UDQJH RI \RXU $,6 XQLW WKH YHVVHO LFRQ FKDQJHV WRLQGLFDWH WKLV,WHP 'HVFULSWLRQ %XGG\ LFRQ 'DQJHURXV WDUJHW LFRQ2ZQ YHVVHO LFRQ1RUPDO $,6 LFRQ+RZ LW ZRUNV:KHQ WKH $,6 /D\HU LV HQDEOHG LQ WKH FKDUW RU UDGDU DSSOLFDWLRQ$,6 WDUJHWV DUH VKRZQ RQ \RXU GLVSOD\ <RX FDQ DGG DQ\ $,6WDUJHW WR D ³%XGG\ /LVW´ HDFK HQWU\ FRQVLVWLQJ RI DQ 006,QXPEHU DQG DQ RSWLRQDO QDPH 6XEVHTXHQWO\ ZKHQHYHU %XGG\7UDFNLQJ LV HQDEOHG RQ \RXU PXOWLIXQFWLRQ GLVSOD\ DQG D ³%XGG\´YHVVHO ZLWK DQ 006, QXPEHU VDLOV LQWR WKH UDQJH RI \RXU $,6UHFHLYHU DQ $,6 %XGG\ LFRQ LV GLVSOD\HG 8S WR  YHVVHOVPD\ EH DGGHG WR WKH %XGG\ /LVW3UHUHTXLVLWHV7KH IROORZLQJ LWHPV DUH UHTXLUHG IRU WKH %XGG\ 7UDFNLQJ IHDWXUH )RU WKH SXUSRVHV RI XVLQJ WKH %XGG\ 7UDFNLQJ IHDWXUH LW LVDVVXPHG WKDW \RXU GLVSOD\ LV DOUHDG\ FRQQHFWHG WR D VXLWDEOH$,6 XQLW 2QO\ WUDQVPLWWLQJ $,6HTXLSSHG YHVVHOV ZLOO EH GHWHFWHG(QDEOLQJ DQG GLVDEOLQJ EXGG\ WUDFNLQJ LQ WKH&KDUW DSSOLFDWLRQ)URP WKH &KDUW DSSOLFDWLRQ ZLWK WKH $,6 RYHUOD\ HQDEOHG 6HOHFW 0HQX 6HOHFW $,6 2SWLRQV RU 5DGDU  $,6 2SWLRQV 6HOHFW 7DUJHWV 6HOHFW 'LVSOD\ EXGGLHV6HOHFWLQJ 'LVSOD\ EXGGLHV ZLOO VZLWFK WKH EXGG\ WUDFNLQJIHDWXUH 2Q DQG 2II1RWH:KHQ 5DGDU RYHUOD\ LV DOVR HQDEOHG WKH PHQX QDPHEHFRPHV 5DGDU  $,6 2SWLRQV(QDEOLQJ DQG GLVDEOLQJ EXGG\ WUDFNLQJ LQ WKHUDGDU DSSOLFDWLRQ)URP WKH UDGDU DSSOLFDWLRQ ZLWK $,6 HQDEOHG 6HOHFW 0HQX 6HOHFW 7DUJHWV 6HOHFW 'LVSOD\ EXGGLHV6HOHFWLQJ 'LVSOD\ EXGGLHV ZLOO VZLWFK WKH EXGG\ WUDFNLQJIHDWXUH 2Q DQG 2II$GGLQJ D YHVVHO WR \RXU EXGG\ OLVW,Q WKH FKDUW RU UDGDU DSSOLFDWLRQ D 6HULHV  F 6HULHV  H 6HULHV
 6HOHFW WKH $,6 WDUJHW7KH $,6 WDUJHW FRQWH[W PHQX LV GLVSOD\HG 6HOHFW $GG %XGG\L 6HOHFW <HV WR HQWHU D QDPH IRU WKH EXGG\ YHVVHOLL 6HOHFW 1R WR VDYH WKH YHVVHO WR \RXU EXGG\ OLVW ZLWKRXWHQWHULQJ D QDPH IRU WKH EXGG\ YHVVHO7KH YHVVHO ZLOO QRZ EH DGGHG WR \RXU EXGG\ GLUHFWRU\$GGLQJ DQ $,6 EXGG\ IURP WKH $,6 WDUJHW OLVW7KH $,6 WDUJHW OLVW FDQ EH DFFHVVHG IURP WKH &KDUW DSSOLFDWLRQ ZLWK RQO\ WKH $,6 RYHUOD\ HQDEOHG 0HQX! $,6 2SWLRQV ! 7DUJHWV ! 9LHZ $,6 /LVW WKH &KDUW DSSOLFDWLRQ ZLWK WKH 5DGDU DQG $,6 RYHUOD\VHQDEOHG 0HQX ! 5DGDU  $,6 2SWLRQV ! 7DUJHWV ! 9LHZ7DUJHW /LVWV ! 9LHZ $,6 /LVW WKH 5DGDU DSSOLFDWLRQ 0HQX ! 7DUJHWV ! 9LHZ 7DUJHW /LVWV! 9LHZ $,6 /LVW)URP WKH $,6 OLVW 6HOHFW DQ $,6 WDUJHW 6HOHFW $GG %XGG\L 6HOHFW <HV WR HQWHU D QDPH IRU WKH EXGG\ YHVVHOLL 6HOHFW 1R WR VDYH WKH YHVVHO WR \RXU EXGG\ OLVW ZLWKRXWHQWHULQJ D QDPH IRU WKH EXGG\ YHVVHO7KH YHVVHO ZLOO QRZ EH DGGHG WR \RXU EXGG\ GLUHFWRU\(GLWLQJ D EXGG\V GHWDLOV)URP WKH FKDUW RU UDGDU DSSOLFDWLRQ 6HOHFW WKH $,6 EXGG\ WDUJHW7KH $,6 EXGG\ FRQWH[W PHQX LV GLVSOD\HG 6HOHFW 9LHZ %XGG\ /LVW 6HOHFW WKH EXGG\ \RX ZLVK WR HGLW7KH %XGG\ RSWLRQV GLDORJ LV GLVSOD\HG 7R FKDQJH WKH 006, QXPEHU VHOHFW (GLW %XGG\ 006, RU7KH 006, QXPEHU PXVW EH  GLJLWV 6HOHFW (GLW %XGG\ 1DPH WR FKDQJH WKH EXGG\ QDPH7KLV FRXOG EH WKH QDPH RI WKH YHVVHO RU WKH QDPH RI WKHIULHQG ZKR RZQV WKH YHVVHO IRU H[DPSOH (QWHU WKH QHZ GHWDLOV DQG VHOHFW 6$9(<RX ZLOO EH UHWXUQHG WR WKH EXGG\ OLVW'HOHWLQJ D EXGG\)URP WKH FKDUW RU UDGDU DSSOLFDWLRQ 6HOHFW WKH $,6 EXGG\ WDUJHW7KH $,6 EXGG\ FRQWH[W PHQX LV GLVSOD\HG 6HOHFW 5HPRYH %XGG\ 6HOHFW <HV WR FRQ¿UP7KH EXGG\ KDV QRZ EHHQ UHPRYHG IURP WKH OLVW7KH EXGG\ OLVW FDQ DOVR EH DFFHVVHG IURP WKH &KDUW DSSOLFDWLRQ ZLWK RQO\ WKH $,6 RYHUOD\ HQDEOHG 0HQX! $,6 2SWLRQV ! $,6 2SWLRQV ! ! 7DUJHWV ! 9LHZ %XGG\/LVW WKH &KDUW DSSOLFDWLRQ ZLWK WKH 5DGDU DQG $,6 RYHUOD\VHQDEOHG 0HQX ! 5DGDU  $,6 2SWLRQV ! 7DUJHWV ! 9LHZ7DUJHW /LVWV ! 9LHZ %XGG\ /LVW WKH 5DGDU DSSOLFDWLRQ 0HQX ! 7DUJHWV ! 9LHZ 7DUJHW /LVWV !9LHZ %XGG\ /LVW'LVSOD\LQJ DGGLWLRQDO EXGG\ LQIRUPDWLRQ)URP WKH FKDUW RU UDGDU DSSOLFDWLRQ 6HOHFW WKH $,6 EXGG\ WDUJHW7KH $,6 EXGG\ FRQWH[W PHQX LV GLVSOD\HG 6HOHFW %XGG\ 'DWD VR WKDW 2Q LV KLJKOLJKWHG6HOHFWLQJ %XGG\ 'DWD ZLOO VZLWFK GDWD EHWZHHQ 2Q DQG 2II7KH %XGG\ 006, DQG 1DPH ZLOO QRZ EH GLVSOD\HG QH[W WR WKHEXGG\ LFRQ$,6 IXQFWLRQ 
 D 6HULHV  F 6HULHV  H 6HULHV
&KDSWHU  :D\SRLQWV 5RXWHV DQG 7UDFNV&KDSWHU FRQWHQWV  :D\SRLQWV RYHUYLHZ RQ SDJH   5RXWHV RQ SDJH   7UDFNV RQ SDJH   ,PSRUW DQG ([SRUW RQ SDJH   :D\SRLQWV URXWHV DQG WUDFNV VWRUDJH FDSDFLW\ RQ SDJH :D\SRLQWV 5RXWHV DQG 7UDFNV 
 :D\SRLQWV RYHUYLHZ:D\SRLQWV DUH SRVLWLRQ PDUNHUV XVHG IRU WKH SXUSRVHV RIQDYLJDWLRQ <RXU PXOWLIXQFWLRQ GLVSOD\ FDQ FUHDWH ZD\SRLQWVZKLFK FDQ WKHQ EH VHOHFWHG IRU DFWLYH QDYLJDWLRQ7KHUH DUH D UDQJH RI IHDWXUHV IRU SODFLQJ QDYLJDWLQJ DQGPDQDJLQJ ZD\SRLQWV WKHVH FDQ EH DFFHVVHG IURP WKH :D\SRLQWVPHQX DQG :D\SRLQW FRQWH[W PHQX :D\SRLQWV DUH UHSUHVHQWHGRQVFUHHQ XVLQJ FXVWRPL]DEOH ZD\SRLQW V\PEROV :D\SRLQWFDQ EH FUHDWHG PRYHG GHOHWHG H[SRUWHG WR PHPRU\ FDUG RULPSRUWHG IURP D PHPRU\ FDUG:D\SRLQW GLVSOD\ H[DPSOHV:D\SRLQWV LQ WKH FKDUW DSSOLFDWLRQ,Q WKH FKDUW DSSOLFDWLRQ ERWK DFWLYH DQG LQDFWLYH ZD\SRLQWV DUHVKRZQ $Q DFWLYH ZD\SRLQW LV WKH RQH WKDW \RX DUH QDYLJDWLQJ WR,WHP 'HVFULSWLRQ ,QDFWLYH ZD\SRLQW $FWLYH ZD\SRLQW $OWHUQDWLYH ZD\SRLQW V\PEROV7KH GHIDXOW ZD\SRLQW V\PERO LV D UHG µ;¶ $OWHUQDWLYH V\PEROVFDQ EH XVHG LI UHTXLUHG:D\SRLQWV LQ WKH UDGDU DSSOLFDWLRQ,Q WKH UDGDU DSSOLFDWLRQ ERWK DFWLYH DQG LQDFWLYH ZD\SRLQWV DUHVKRZQ $Q DFWLYH ZD\SRLQW LV WKH RQH WKDW \RX DUH QDYLJDWLQJ WR ,QDFWLYH ZD\SRLQW $FWLYH ZD\SRLQW $OWHUQDWH ZD\SRLQW V\PEROV7KH GHIDXOW ZD\SRLQW V\PERO LV D UHG µ;¶ $OWHUQDWLYH V\PEROVFDQ EH XVHG LI UHTXLUHG:D\SRLQWV LQ WKH ¿VK¿QGHU DSSOLFDWLRQ:D\SRLQWV LQ WKH ¿VK¿QGHU DSSOLFDWLRQ DUH UHSUHVHQWHG E\ DYHUWLFDO OLQH ODEHOOHG :37:D\SRLQW 02% EXWWRQ  LFRQ'HSHQGLQJ RQ WKH PXOWLIXQFWLRQ GLVSOD\ YDULDQW WKHUH ZLOO EHHLWKHU D :D\SRLQW 02% EXWWRQ RU DQ RQVFUHHQ LFRQ:37 EXWWRQ F 6HULHV H 6HULHV 50. NH\SDG:37 LFRQV  D 6HULHV J6 6HULHV7KURXJKRXW WKLV PDQXDO WKH WHUP 6HOHFW :37 UHIHUV WR SUHVVLQJWKH SK\VLFDO :37 EXWWRQ RU SUHVVLQJ WKH RQVFUHHQ :37 LFRQ:D\SRLQW FRQWH[W PHQX3ODFLQJ WKH FXUVRU RYHU D ZD\SRLQW LQ WKH FKDUW RU UDGDUDSSOLFDWLRQV GLVSOD\V D FRQWH[W PHQX VKRZLQJ WKH ZD\SRLQWVSRVLWLRQDO GDWD DQG PHQX LWHPV7KH FRQWH[W PHQX SURYLGHV WKH IROORZLQJ SRVLWLRQDO GDWD IRU WKHZD\SRLQW LQ UHODWLRQ WR \RXU YHVVHO /DWLWXGH /RQJLWXGH 5DQJH %HDULQJ)RU LQDFWLYH ZD\SRLQWV WKH IROORZLQJ PHQX LWHPV DUH DYDLODEOH*RWR :D\SRLQW)ROORZ )URP +HUH RQO\ DYDLODEOH ZKHQ ZD\SRLQW LV SDUW RI DURXWH(GLW :D\SRLQW(UDVH :D\SRLQW5HPRYH :D\SRLQW RQO\ DYDLODEOH ZKHQ ZD\SRLQW LV SDUW RI DURXWH0RYH :D\SRLQW0HDVXUH%XLOG 5RXWH$FTXLUH 7DUJHW RQO\ DYDLODEOH LI 5DGDU RYHUOD\ LV VZLWFKHGRQ D 6HULHV  F 6HULHV  H 6HULHV
6OHZ WKHUPDO FDPHUD RQO\ DYDLODEOH ZKHQ WKHUPDO FDPHUDLV FRQQHFWHG DQG RSHUDWLQJ)RU DFWLYH ZD\SRLQWV WKH IROORZLQJ PHQX LWHPV DUH DYDLODEOH6WRS *RWR5HVWDUW ;7($GYDQFH :D\SRLQW0HDVXUH%XLOG 5RXWH$FTXLUH 7DUJHW RQO\ DYDLODEOH LI 5DGDU RYHUOD\ LV VZLWFKHGRQ6OHZ WKHUPDO FDPHUD RQO\ DYDLODEOH ZKHQ WKHUPDO FDPHUDLV FRQQHFWHG DQG RSHUDWLQJ$FFHVVLQJ WKH FRQWH[W PHQX<RX FDQ DFFHVV WKH FRQWH[W PHQX E\ IROORZLQJ WKH VWHSV EHORZ 1RQWRXFKVFUHHQ DQG +\EULG7RXFK GLVSOD\VL 6HOHFWLQJ D ORFDWLRQ REMHFW RU WDUJHW RQVFUHHQ DQGSUHVVLQJ WKH 2N EXWWRQ +\EULG7RXFK DQG 7RXFK RQO\ GLVSOD\VL 6HOHFWLQJ DQ REMHFW RU WDUJHW RQVFUHHQLL 6HOHFWLQJ DQG KROGLQJ RQ D ORFDWLRQ RQVFUHHQ:D\SRLQW SODFHPHQW3ODFLQJ D ZD\SRLQW<RX FDQ SODFH D ZD\SRLQW RQ D PXOWLIXQFWLRQ GLVSOD\ ZLWK DWRXFKVFUHHQ E\ IROORZLQJ WKH VWHSV EHORZ)URP WKH FKDUW UDGDU RU ¿VK¿QGHU DSSOLFDWLRQ 6HOHFW DQG KROG WKH UHTXLUHG ORFDWLRQ RQ VFUHHQ7KH FRQWH[W PHQX LV GLVSOD\HG 6HOHFW 3ODFH :D\SRLQW7KH :D\SRLQW 6DYHG GLDORJ LV GLVSOD\HG 6HOHFW WKH 6\PERO ¿HOG WR FKDQJH WKH V\PERO WKDW ZLOOEH XVHG WR GLVSOD\ WKH ZD\SRLQW LQ WKH &KDUW RU 5DGDUDSSOLFDWLRQ 6HOHFW WKH 1DPH ¿HOG WR FKDQJH WKH QDPH RI WKH ZD\SRLQW 6HOHFW WKH *URXS ¿HOG WR FKDQJH WKH JURXS WKDW WKH ZD\SRLQWLV DVVLJQHG WR 6HOHFW 2. WR FRQ¿UP WKH ZD\SRLQW GHWDLOV1RWH ,I WKHUH LV QR XVHU LQWHUDFWLRQ ZLWK WKH :D\SRLQW VDYHGGLDORJ IRU DSSUR[LPDWHO\  VHFRQGV WKHQ WKH ZD\SRLQW LV VDYHGZLWK WKH GHIDXOW VHWWLQJV DQG WKH GLDORJ LV FORVHG DXWRPDWLFDOO\3ODFLQJ D ZD\SRLQW)URP WKH FKDUW UDGDU RU ¿VK¿QGHU DSSOLFDWLRQ 3RVLWLRQ WKH FXUVRU DW WKH UHTXLUHG SRVLWLRQ 3UHVV WKH :37 EXWWRQ7KH FRQWH[W PHQX LV GLVSOD\HG 6HOHFW 3ODFH :D\SRLQW7KH :D\SRLQW 6DYHG GLDORJ LV GLVSOD\HG 6HOHFW WKH 6\PERO ¿HOG WR FKDQJH WKH V\PERO WKDW ZLOOEH XVHG WR GLVSOD\ WKH ZD\SRLQW LQ WKH &KDUW RU 5DGDUDSSOLFDWLRQ 6HOHFW WKH 1DPH ¿HOG WR FKDQJH WKH QDPH RI WKH ZD\SRLQW 6HOHFW WKH *URXS ¿HOG WR FKDQJH WKH JURXS WKDW WKH ZD\SRLQWLV DVVLJQHG WR 6HOHFW 2. WR FRQ¿UP WKH ZD\SRLQW GHWDLOV1RWH ,I WKHUH LV QR XVHU LQWHUDFWLRQ ZLWK WKH :D\SRLQW VDYHGGLDORJ IRU DSSUR[LPDWHO\  VHFRQGV WKHQ WKH ZD\SRLQW LV VDYHGZLWK WKH GHIDXOW VHWWLQJV DQG WKH GLDORJ LV FORVHG DXWRPDWLFDOO\3ODFLQJ D ZD\SRLQW DW \RXU YHVVHOV SRVLWLRQ,Q DGGLWLRQ WR SRVLWLRQDO LQIRUPDWLRQ D ZD\SRLQW SODFHG DW WKHYHVVHO SRVLWLRQ ZLOO FDSWXUH WHPSHUDWXUH DQG VRXQGHG GHSWKLQIRUPDWLRQ LI \RX KDYH WKH DSSURSULDWH VHQVRUV FRQQHFWHG WR\RXU V\VWHP)URP WKH FKDUW UDGDU RU ¿VK¿QGHU DSSOLFDWLRQ 6HOHFW :377KH ZD\SRLQW PHQX LV GLVSOD\HG 6HOHFW :37 DJDLQ RU VHOHFW 3ODFH :D\SRLQW $W 9HVVHO IURPWKH PHQX7KH :D\SRLQW 6DYHG GLDORJ LV GLVSOD\HG 6HOHFW WKH 6\PERO ¿HOG WR FKDQJH WKH V\PERO WKDW ZLOOEH XVHG WR GLVSOD\ WKH ZD\SRLQW LQ WKH &KDUW RU 5DGDUDSSOLFDWLRQ 6HOHFW WKH 1DPH ¿HOG WR FKDQJH WKH QDPH RI WKH ZD\SRLQW 6HOHFW WKH *URXS ¿HOG WR FKDQJH WKH JURXS WKDW WKH ZD\SRLQWLV DVVLJQHG WR 6HOHFW 2. WR FRQ¿UP WKH ZD\SRLQW GHWDLOV1RWH ,I WKHUH LV QR XVHU LQWHUDFWLRQ ZLWK WKH :D\SRLQW VDYHGGLDORJ IRU DSSUR[LPDWHO\  VHFRQGV WKHQ WKH ZD\SRLQW LV VDYHGZLWK WKH GHIDXOW VHWWLQJV DQG WKH GLDORJ LV FORVHG DXWRPDWLFDOO\:D\SRLQWV 5RXWHV DQG 7UDFNV 
3ODFLQJ D ZD\SRLQW DW D NQRZQ SRVLWLRQ<RX FDQ SODFH D ZD\SRLQW DW D VSHFL¿HG ORFDWLRQ XVLQJ ODWLWXGHDQG ORQJLWXGH FRRUGLQDWHV 6HOHFW :37 6HOHFW 3ODFH :D\SRLQW $W /DW/RQ7KH ZD\SRLQW GHWDLOV GLDORJ LV GLVSOD\HG 6HOHFW WKH 3RVLWLRQ ¿HOG (QWHU WKH /DWLWXGH/RQJLWXGH SRVLWLRQ 6HOHFW 6$9( <RX FDQ DOVR HGLW WKH ZD\SRLQW V\PERO QDPH DQG JURXS E\VHOHFWLQJ WKH UHOHYDQW ¿HOGV 6HOHFW &ORVH RU %DFN WR FORVH WKH GLDORJ:D\SRLQW JURXSV:D\SRLQWV DUH RUJDQL]HG LQWR JURXSV %\ GHIDXOW DOO ZD\SRLQWVDUH SODFHG LQ WKH ³816257('´ JURXS1HZ ZD\SRLQW JURXSV FDQ EH FUHDWHG DQG HDFK ZD\SRLQW FDQ EHDVVLJQHG WR D ZD\SRLQW JURXS )RU H[DPSOH \RX FRXOG FUHDWH DZD\SRLQW JURXS FDOOHG ³)LVKLQJ´ DQG SODFH DOO RI \RXU ZD\SRLQWVZKHUH \RX FDXJKW ¿VK LQWR WKDW JURXS:D\SRLQW JURXSV FDQ EH PDQDJHG IURP WKH :D\SRLQW JURXSV OLVW 6RUW %\ ² :D\SRLQW JURXSV FDQ EH VRUWHG E\ QDPH RU E\GDWH E\ VHOHFWLQJ WKH 6RUW %\ ¿HOG 8QVRUWHG ² %\ GHIDXOW QHZ ZD\SRLQWV DUH DGGHG WR WKH816257(' ZD\SRLQW JURXS 6HOHFWLQJ WKH JURXS ZLOOGLVSOD\ D OLVW RI DOO ZD\SRLQWV WKDW KDYH QRW EHHQ DVVLJQHG WRD VSHFL¿F JURXS 6HDUFK ² <RX FDQ VHDUFK IRU ZD\SRLQWV XVLQJ NH\ZRUGVE\ VHOHFWLQJ 6HDUFK ,PSRUW([SRUW ² :D\SRLQWV FDQ EH H[SRUWHG WR RU LPSRUWHGIURP D PLFUR6' FDUG E\ VHOHFWLQJ ,PSRUW([SRUW 5HIHU WR 6DYLQJ XVHU GDWD DQG XVHU VHWWLQJV IRU GHWDLOV $OO ZD\SRLQWV ² 6HOHFWLQJ $// :$<32,176 GLVSOD\V D OLVWRI DOO ZD\SRLQWV VDYHG RQ \RXU V\VWHP :D\SRLQW *URXSV ² $OO ZD\SRLQW JURXSV DUH GLVSOD\HG LQWKH OLVW 1HZ *URXS ² $ QHZ ZD\SRLQW JURXS FDQ EH DGGHG E\VHOHFWLQJ 1HZ *URXS 1HZ :D\SRLQW ² 1HZ ZD\SRLQWV FDQ EH DGGHG PDQXDOO\E\ VHOHFWLQJ 1HZ :D\SRLQW 6KRZ+LGH ² <RX FDQ FKRRVH ZKLFK ZD\SRLQW JURXSV DUHGLVSOD\HG DQG ZKLFK JURXSV DUH KLGGHQ E\ VHOHFWLQJ WKHUHOHYDQW JURXS IURP WKH OLVW DQG WKHQ VHOHFWLQJ 6KRZ+LGH6HOHFWLQJ D ZD\SRLQWV JURXS IURP WKH OLVW GLVSOD\V D OLVW RI DOOZD\SRLQWV LQ WKDW JURXS $GGLWLRQDO IXQFWLRQV DUH DYDLODEOH WRKHOS PDQDJH \RXU ZD\SRLQWV 6RUW %\ ² 6RUW ZD\SRLQWV E\ 1DPH 5DQJH 6\PERO RU'DWH 6HDUFK ² 6HDUFK IRU ZD\SRLQWV XVLQJ NH\ZRUGV ([SRUW ² ([SRUWV WKH ZD\SRLQW JURXS FXUUHQWO\ GLVSOD\HG WRD PHPRU\ FDUG :D\SRLQW JURXS ² 7KLV LV WKH FXUUHQWO\ VHOHFWHG ZD\SRLQWJURXS 5HQDPH *URXS ² 5HQDPH WKH FXUUHQW JURXS (UDVH :SWV ² (UDVH DOO ZD\SRLQWV LQ WKH JURXS 0RYH :SWV ² 0RYH DOO ZD\SRLQWV LQ WKH JURXS $VVLJQ 6\PERO ² $VVLJQ D QHZ V\PERO WR DOO ZD\SRLQWVLQ WKH JURXS'LVSOD\LQJ WKH ZD\SRLQW JURXS OLVW)URP DQ\ DSSOLFDWLRQ 6HOHFW :37 6HOHFW :D\SRLQWV7KH ZD\SRLQW JURXS OLVW LV GLVSOD\HG0DNLQJ D QHZ ZD\SRLQW JURXS:LWK WKH :D\SRLQW *URXS /LVW GLVSOD\HG 6HOHFW 1HZ *URXS7KH RQVFUHHQ NH\ERDUG LV GLVSOD\HG 8VH WKH RQVFUHHQ NH\ERDUG WR HQWHU WKH UHTXLUHG QDPH IRUWKH QHZ JURXS VHOHFW 6$9( 5HQDPLQJ D ZD\SRLQW JURXS:LWK WKH :D\SRLQW JURXS OLVW GLVSOD\HG 6HOHFW WKH JURXS \RX ZDQW WR UHQDPH*URXS GHWDLOV DUH GLVSOD\HG 6HOHFW 5HQDPH *URXS7KH RQVFUHHQ NH\ERDUG LV GLVSOD\HG 8VLQJ WKH RQVFUHHQ NH\ERDUG FKDQJH WKH JURXS QDPH DVUHTXLUHG 6HOHFW 6$9($VVLJQLQJ D QHZ V\PERO WR D ZD\SRLQW JURXS<RX FDQ DVVLJQ D QHZ ZD\SRLQW V\PERO WR DOO WKH ZD\SRLQWV LQ DJURXS)URP WKH :D\SRLQW JURXS OLVW 6HOHFW WKH JURXS WKDW \RX ZDQW WR DVVLJQ D QHZ ZD\SRLQWV\PERO WR$ JURXS GHWDLOV OLVW LV GLVSOD\HG VKRZLQJ DOO ZD\SRLQWV LQ WKHVHOHFWHG JURXS D 6HULHV  F 6HULHV  H 6HULHV
 6HOHFW $VVLJQ 6\PERO$ OLVW RI DOO DYDLODEOH V\PEROV LV GLVSOD\HG 6HOHFW WKH V\PERO WKDW \RX ZDQW WR XVH IRU WKH ZD\SRLQWVLQ WKH VHOHFWHG JURXS$ FRQ¿UPDWLRQ GLDORJ LV GLVSOD\HG 6HOHFW <HV WR DSSO\ WKH QHZ V\PEROV WR WKH ZD\SRLQWV RUVHOHFW 1R WR FDQFHO0RYLQJ D ZD\SRLQW WR D GLIIHUHQW JURXS:LWK WKH :D\SRLQWV JURXS OLVW GLVSOD\HG 6HOHFW $// :$<32,176$ OLVW RI DOO ZD\SRLQWV FXUUHQWO\ RQ \RXU V\VWHP LV GLVSOD\HG 6HOHFW WKH ZD\SRLQW \RX ZDQW WR PRYH7KH ZD\SRLQW GHWDLOV SDJH LV GLVSOD\HG 6HOHFW WKH *URXS ¿HOG$ OLVW RI DOO JURXSV LV GLVSOD\HG 6HOHFW WKH *URXS WKDW \RX ZDQW WR PRYH WKH ZD\SRLQW WR RU 6HOHFW &UHDWH 1HZ *URXS WR PRYH WKH ZD\SRLQW WR D QHZJURXS7KH ZD\SRLQW LV PRYHG WR WKH VHOHFWHG JURXS0RYLQJ DOO ZD\SRLQWV LQ D JURXS WR D GLIIHUHQW JURXS<RX FDQ PRYH DOO ZD\SRLQWV LQ D JURXS WR D GLIIHUHQW JURXS:LWK WKH :D\SRLQWV JURXS OLVW GLVSOD\HG 6HOHFW WKH *URXS WKDW FRQWDLQV WKH ZD\SRLQWV \RX ZDQW WRPRYH 6HOHFW 0RYH :SWV$ OLVW RI DOO JURXSV LV GLVSOD\HG 6HOHFW WKH JURXS IURP WKH OLVW WKDW \RX ZDQW WR PRYH WKHZD\SRLQWV WRR$ FRQ¿UPDWLRQ GLDORJ LV GLVSOD\HG 6HOHFW <HV WR PRYH WKH ZD\SRLQWV RU 1R WR FDQFHO7KH ZD\SRLQWV KDYH QRZ EHHQ PRYHG WR WKH QHZ JURXS(UDVLQJ DOO ZD\SRLQWV LQ D JURXS<RX FDQ HUDVH DOO ZD\SRLQWV LQ D VHOHFWHG JURXS:LWK WKH ZD\SRLQW JURXSV OLVW GLVSOD\HG 6HOHFW WKH JURXS WKDW FRQWDLQ WKH ZD\SRLQWV \RX ZDQW WRHUDVH$ OLVW LV GLVSOD\HG VKRZLQJ DOO ZD\SRLQWV LQ WKH VHOHFWHGJURXS 6HOHFW (UDVH :SWV$ FRQ¿UPDWLRQ GLDORJ LV GLVSOD\HG 6HOHFW <HV WR HUDVH DOO ZD\SRLQWV LQ WKH JURXS RU 1R WRFDQFHO$OO RI WKH ZD\SRLQWV LQ WKH VHOHFWHG JURXS DUH HUDVHG IURP WKHV\VWHP DQG WKH JURXS ZLOO QRZ EH HPSW\(UDVLQJ D ZD\SRLQW JURXS%HIRUH \RX FDQ HUDVH D ZD\SRLQW JURXS \RX PXVW PRYH RU HUDVHDOO WKH ZD\SRLQWV DVVLJQHG WR WKDW JURXS:LWK WKH :D\SRLQW *URXS GLVSOD\HG 6HOHFW WKH ZD\SRLQW JURXS WKDW \RX ZDQW WR HUDVH 6HOHFW (UDVH *URXS7KH JURXS LV GHOHWHG IURP WKH V\VWHP:D\SRLQW LQIRUPDWLRQ:KHQ \RX FUHDWH D ZD\SRLQW WKH V\VWHP DVVLJQV LQIRUPDWLRQUHJDUGLQJ WKH ORFDWLRQ PDUNHG <RX FDQ YLHZ DQG HGLW WKH GHWDLOVRI DQ\ ZD\SRLQW WKDW KDV EHHQ FUHDWHG DQG VWRUHG7KH IROORZLQJ LQIRUPDWLRQ LV DVVLJQHG RU FDSWXUHG IRU HDFKZD\SRLQW6\PERO D GHIDXOW V\PERO LV DVVLJQHG RU \RX FDQ VHOHFW DQDOWHUQDWLYH1DPH D GHIDXOW QDPH LV DVVLJQHG RU \RX FDQ VHOHFW DQDOWHUQDWLYH3RVLWLRQ /DWLWXGH DQG /RQJLWXGH RI WKH ZD\SRLQW%HDULQJ DQG 5DQJH %HDULQJ DQG UDQJH IURP YHVVHO7HPSHUDWXUH UHTXLUHV DSSURSULDWH VHQVRU RQO\ IRU ZD\SRLQWVFDSWXUHG DW WKH YHVVHO SRVLWLRQ'HSWK UHTXLUHV DSSURSULDWH VHQVRU RQO\ IRU ZD\SRLQWVFDSWXUHG DW WKH YHVVHO SRVLWLRQ'DWH DQG WLPH&RPPHQW \RX FDQ DGG \RXU RZQ WH[W FRPPHQWV WR DZD\SRLQW)URP WKH ZD\SRLQW LQIRUPDWLRQ SDJH \RX FDQ DOVR SHUIRUP WKHIROORZLQJ DFWLRQV*RWR 6WDUW DFWLYH QDYLJDWLRQ WR WKH ZD\SRLQW6KRZ RQ &KDUW 6KRZ WKH ZD\SRLQW ORFDWLRQ LQ WKH FKDUWDSSOLFDWLRQ'HOHWH 'HOHWH WKH ZD\SRLQW IURP WKH ZD\SRLQWV OLVW'LVSOD\LQJ WKH ZD\SRLQW OLVW)URP DQ\ DSSOLFDWLRQ 6HOHFW :37 6HOHFW :D\SRLQW /LVW7KH ZD\SRLQW OLVW LV GLVSOD\HG1RWH 7KH ZD\SRLQW OLVW FDQ DOVR EH DFFHVVHG GLUHFWO\ IURPWKH +RPHVFUHHQ E\ VHOHFWLQJ :37 RU E\ JRLQJ WR WKH 0\'DWD PHQX DQG VHOHFWLQJ :D\SRLQW /LVW(GLWLQJ ZD\SRLQW GHWDLOV:LWK WKH :D\SRLQW /LVW GLVSOD\HG 6HOHFW WKH ZD\SRLQW \RX ZDQW WR HGLW7KH ZD\SRLQW LQIRUPDWLRQ SDJH LV GLVSOD\HG 6HOHFW WKH ¿HOG \RX ZDQW WR HGLW 8VH WKH RQVFUHHQ NH\ERDUG WR PDNH WKH FKDQJHV WKHQVHOHFW WKH RQVFUHHQ NH\ERDUGV 6$9( EXWWRQ(GLWLQJ D ZD\SRLQW XVLQJ WKH FRQWH[W PHQX:LWK WKH DSSOLFDWLRQ SDJH GLVSOD\HG 6HOHFW WKH ZD\SRLQW V\PERO RQVFUHHQ7KH ZD\SRLQW FRQWH[W PHQX LV GLVSOD\HG 6HOHFW (GLW :D\SRLQW7KH HGLW ZD\SRLQW GLDORJ LV GLVSOD\HG 6HOHFW WKH ¿HOG \RX ZDQW WR HGLW 8VH WKH RQVFUHHQ NH\ERDUG WR PDNH WKH FKDQJHV DQG WKHQVHOHFW WKH RQVFUHHQ NH\ERDUGV 6$9( NH\:D\SRLQWV 5RXWHV DQG 7UDFNV 
0RYLQJ ZD\SRLQWV0RYLQJ D ZD\SRLQW XVLQJ WKH FRQWH[W PHQX:LWK WKH DSSOLFDWLRQ SDJH GLVSOD\HG 6HOHFW WKH ZD\SRLQW V\PERO RQVFUHHQ7KH ZD\SRLQW FRQWH[W PHQX LV GLVSOD\HG 6HOHFW 0RYH :D\SRLQW 6HOHFW WKH QHZ SRVLWLRQ IRU WKH ZD\SRLQW0RYLQJ D ZD\SRLQW E\ HQWHULQJ QHZ FRRUGLQDWHV:LWK WKH :D\SRLQW /LVW GLVSOD\HG 6HOHFW $OO :D\SRLQWV 6HOHFW WKH UHOHYDQW ZD\SRLQW7KH ZD\SRLQW LQIRUPDWLRQ SDJH LV GLVSOD\HG 6HOHFW WKH 3RVLWLRQ ¿HOG 8VH WKH RQVFUHHQ NH\ERDUG WR PDNH WKH FKDQJHV DQG WKHQVHOHFW WKH RQVFUHHQ NH\ERDUGV 6$9( NH\(UDVLQJ ZD\SRLQWV(UDVLQJ D ZD\SRLQW XVLQJ WKH FRQWH[W PHQX:LWK WKH DSSOLFDWLRQ SDJH GLVSOD\HG 6HOHFW WKH ZD\SRLQW V\PERO RQVFUHHQ7KH ZD\SRLQW FRQWH[W PHQX LV GLVSOD\HG 6HOHFW (UDVH :D\SRLQW7KH HUDVH ZD\SRLQW SRS XS PHVVDJH LV GLVSOD\HG 6HOHFW <HV WR FRQ¿UP RU 1R WR FDQFHO(UDVLQJ D ZD\SRLQW XVLQJ WKH ZD\SRLQW OLVW:LWK WKH :D\SRLQW /LVW GLVSOD\HG 6HOHFW $OO :D\SRLQWV 6HOHFW WKH ZD\SRLQW \RX ZDQW WR HUDVH7KH ZD\SRLQW LQIRUPDWLRQ SDJH LV GLVSOD\HG 6HOHFW (UDVH7KH HUDVH ZD\SRLQW SRS XS PHVVDJH LV GLVSOD\HG 6HOHFW <HV WR FRQ¿UP RU 1R WR FDQFHO(UDVLQJ DOO ZD\SRLQWV)URP WKH KRPHVFUHHQ 6HOHFW 0\ 'DWD 6HOHFW ,PSRUW([SRUW 6HOHFW (UDVH )URP 6\VWHP 6HOHFW (UDVH :D\SRLQWV )URP 6\VWHP$ OLVW RI DOO ZD\SRLQW JURXSV LV GLVSOD\HG 6HOHFW (UDVH $OO7KH FRQ¿UP GHOHWH SRS XS PHVVDJH LV GLVSOD\HG 6HOHFW <HV WR FRQ¿UP RU 1R WR FDQFHO:D\SRLQW VHDUFK7KH ZD\SRLQW VHDUFK IHDWXUH DOORZV \RX WR VHDUFK IRU ZD\SRLQWVRQ \RXU V\VWHP7KH VHDUFK IHDWXUH LV DYDLODEOH E\ VHOHFWLQJ 6HDUFK IURP WKH:D\SRLQWV OLVW:D\SRLQWV FDQ EH VHDUFKHG IRU E\ 1DPH RU NH\ZRUG 6\PERO $UHD)URP WKH VHDUFK UHVXOWV \RX FDQ HUDVH DOO WKH ZD\SRLQWV LQ WKHVHDUFK OLVW PRYH WKHP WR DQ H[LVWLQJ RU QHZ ZD\SRLQW JURXS RUDVVLJQ DOO RI WKH ZD\SRLQWV WKH VDPH ZD\SRLQW V\PERO6HDUFKLQJ IRU ZD\SRLQWV E\ QDPH RU NH\ZRUG:D\SRLQWV FDQ EH VHDUFKHG IRU E\ QDPH RU NH\ZRUG)URP WKH :D\SRLQWV OLVW 6HOHFW 6HDUFK7KH VHDUFK SDJH LV GLVSOD\HG 8VH WKH RQVFUHHQ NH\ERDUG WR HQWHU WKH ZD\SRLQW QDPH RUNH\ZRUG 6HOHFW 6HDUFK7KH VHDUFK UHVXOWV DUH GLVSOD\HG 6HOHFW (UDVH :SWV WR HUDVH WKH OLVW RI ZD\SRLQWV IURP \RXUV\VWHP RU 6HOHFW 0RYH :SWV WR PRYH WKH ZD\SRLQWV WR D QHZ RUH[LVWLQJ JURXS RU 6HOHFW $VVLJQ 6\PERO WR DVVLJQ D QHZ V\PERO WR DOO WKHZD\SRLQWV LQ WKH VHDUFK UHVXOWV OLVW<RX FDQ DOVR VHOHFW D ZD\SRLQW IURP WKH OLVW WR YLHZ LWV GHWDLOV RULI DFFHVVHG IURP WKH &KDUW DSSOLFDWLRQ VHW D JRWR RU GLVSOD\ WKHZD\SRLQW LQ WKH &KDUW DSSOLFDWLRQ6HDUFKLQJ IRU ZD\SRLQWV E\ V\PERO:D\SRLQWV FDQ EH VHDUFKHG IRU E\ ZD\SRLQW V\PERO)URP WKH :D\SRLQWV OLVW 6HOHFW 6HDUFK7KH VHDUFK SDJH LV GLVSOD\HG 6HOHFW 6\PERO7KH ZD\SRLQWV V\PERO OLVW LV GLVSOD\HG 6HOHFW WKH V\PERO WKDW LV DVVLJQHG WR WKH ZD\SRLQWV \RXZDQW WR VHDUFK IRU$ OLVW RI DOO ZD\SRLQWV XVLQJ WKH VHOHFWHG V\PERO LV GLVSOD\HG D 6HULHV  F 6HULHV  H 6HULHV
 6HOHFW (UDVH :SWV WR HUDVH WKH OLVW RI ZD\SRLQWV IURP \RXUV\VWHP RU 6HOHFW 0RYH :SWV WR PRYH WKH ZD\SRLQWV WR D QHZ RUH[LVWLQJ JURXS RU 6HOHFW $VVLJQ 6\PERO WR DVVLJQ D QHZ V\PERO WR DOO WKHZD\SRLQWV LQ WKH VHDUFK UHVXOWV OLVW<RX FDQ DOVR VHOHFW D ZD\SRLQW IURP WKH OLVW WR YLHZ LWV GHWDLOV RULI DFFHVVHG IURP WKH &KDUW DSSOLFDWLRQ VHW D JRWR RU GLVSOD\ WKHZD\SRLQW LQ WKH &KDUW DSSOLFDWLRQ6HDUFKLQJ IRU ZD\SRLQWV E\ DUHD:D\SRLQWV FDQ EH VHDUFKHG IRU E\ VHOHFWLQJ DQ DUHD LQ WKH &KDUWDSSOLFDWLRQ)URP WKH &KDUW DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 0\ 'DWD 6HOHFW :D\SRLQWV7KH ZD\SRLQWV OLVW LV GLVSOD\HG 6HOHFW 6HDUFK7KH VHDUFK SDJH LV GLVSOD\HG 6HOHFW $UHD7KH &KDUW DSSOLFDWLRQ LV GLVSOD\HG ZLWK WKH DUHD VHDUFK PHQXRSHQ 6HOHFW WKH ORFDWLRQ IRU WKH ¿UVW FRUQHU SRLQW RI WKH VHDUFK DUHD 6HOHFW WKH ORFDWLRQ IRU WKH RSSRVLWH FRUQHU RI WKH VHDUFK DUHD$ ER[ LV GUDZQ RQ WKH VFUHHQ ZKLFK FRYHUV WKH VHOHFWHG DUHD,I WKH ER[ LV GUDZQ LQ WKH ZURQJ SODFH \RX FDQ GUDZ D QHZDUHD E\ VHOHFWLQJ  QHZ FRUQHU SRLQWV 6HOHFW 6HDUFK IURP WKH PHQX$ OLVW RI DOO ZD\SRLQWV LQ WKH VHOHFWHG DUHD LV GLVSOD\HG 6HOHFW (UDVH :SWV WR HUDVH WKH OLVW RI ZD\SRLQWV IURP \RXUV\VWHP RU6HOHFW 0RYH :SWV WR PRYH WKH ZD\SRLQWV WR D QHZ RUH[LVWLQJ JURXS RU 6HOHFW $VVLJQ 6\PERO WR DVVLJQ D QHZ V\PERO WR DOO WKHZD\SRLQWV LQ WKH VHDUFK UHVXOWV OLVW<RX FDQ DOVR VHOHFW D ZD\SRLQW IURP WKH OLVW WR YLHZ LWV GHWDLOVVHW D JRWR RU GLVSOD\ WKH ZD\SRLQW LQ WKH &KDUW DSSOLFDWLRQ:D\SRLQW V\PEROV$ 5DQJH RI ZD\SRLQW V\PEROV DUH DYDLODEOH WKDW FDQ EH XVHG WRUHSUHVHQW GLIIHUHQW ZD\SRLQW W\SHV%ODFN &URVV 5HG &URVV%ODFN &LUFOH 5HG &LUFOH%ODFN 6TXDUH 5HG 6TXDUH%ODFN 7ULDQJOH 5HG 7ULDQJOH%OXH &URVV *UHHQ &URVV%OXH &LUFOH *UHHQ &LUFOH%OXH 6TXDUH *UHHQ 6TXDUH%OXH 7ULDQJOH *UHHQ 7ULDQJOH$QFKRU :UHFN%XR\)XHO7RLOHWV 5HVWDXUDQW5DPS &DXWLRQ*UHHQ UDFHPDUNDQWLFORFNZLVH*UHHQ 5DFHPDUNFORFNZLVH<HOORZ UDFHPDUNDQWLFORFNZLVH<HOORZ 5DFHPDUNFORFNZLVH:D\SRLQWV 5RXWHV DQG 7UDFNV 
5HG UDFHPDUNDQWLFORFNZLVH5HG 5DFHPDUNFORFNZLVH0DUNHU 5HVWULFWLRQ%RWWRP 0DUN 7RS 0DUN5RXWH 6WDUW 5RXWH (QG'LYHU 'RZQ 'LYHU 'RZQ 2LO 5LJ )LOOHG &LUFOH)$' )LVK $WWUDFWLQJ'HYLFH&RQFUHWH 5XEEOH6HDZHHG 2\VWHU*UHHQ &DQ *UHHQ 1XQ5HG &DQ 5HG 1XQ<HOORZ &DQ <HOORZ 1XQ)LVK 7UDS %UXVKSLOH3UHIHUUHG 0DUNV 3RVW/HGJH )LVK)LVK  6WDU )LVK  6WDU)LVK  6WDU 6FKRRO )LVK/REVWHU 6PDOO )LVK5RFNV 5HHI3ULYDWH 5HHI 3XEOLF 5HHI'ROSKLQ 6KDUN%LOO¿VK 7DQN5HHI %DOO 6DLOERDW6SRUWV¿VKHU 7UDZOHU6ZLPPHU 0DUWLQL7UHH 7RZHU+LOO RU 3HDN %ULGJH$LUSODQH &DU6NXOO 'LDPRQG 7'LDPRQG 4XDUWHU)LOOHG 7ULDQJOH6KRZLQJ DQG KLGLQJ ZD\SRLQW JURXSV)URP WKH FKDUW RU UDGDU DSSOLFDWLRQ 6HOHFW :37 6HOHFW 'LVSOD\ :SWV RQ &KDUW RU 'LVSOD\ :SWV RQ 5DGDUGHSHQGLQJ RQ WKH DSSOLFDWLRQ \RX KDYH RSHQ7KH 6KRZ+LGH ZD\SRLQWV OLVW LV GLVSOD\HG D 6HULHV  F 6HULHV  H 6HULHV
,Q WKH H[DPSOH DERYH WKH 'D\ 7ULS JURXS ZLOO QRW EH GLVSOD\HGLQ WKH &KDUW DSSOLFDWLRQ 6HOHFW 6RUW E\ WR VZLWFK EHWZHHQ *URXSV DQG 6\PEROV$ OLVW RI 6\PEROV RU *URXSV LV GLVSOD\HG 6HOHFW WKH *URXS RU 6\PERO IURP WKH OLVW WKDW \RX ZDQW WRVKRZ RU KLGH,I 6KRZ LV GLVSOD\HG LQ WKH OLVW WKHQ WKH JURXS RU V\PEROV ZLOOEH GLVSOD\HG LI +LGH LV GLVSOD\HG LQ WKH OLVW WKHQ WKH JURXS RUV\PEROV DUH QRW GLVSOD\HG LQ WKH DSSOLFDWLRQ 5HSHDW 6WHS  IRU HDFK ZD\SRLQW JURXS RU V\PERO W\SH \RXZDQW WR VKRZ RU KLGH $OWHUQDWLYHO\ WR VKRZ RU KLGH DOO ZD\SRLQWV VHOHFW 6KRZ $OO RU+LGH $OO WR VKRZ RU KLGH DOO ZD\SRLQWV7KH OLVW RI ZD\SRLQWV DQG V\PEROV FDQ DOVR EH DFFHVVHG IURPWKH DSSOLFDWLRQ PHQX &KDUW DSSOLFDWLRQ 0HQX ! 0\ 'DWD ! :D\SRLQWV 5DGDU DSSOLFDWLRQ 0HQX ! 3UHVHQWDWLRQ ! 6HOHFW :37V 7R'LVSOD\ 5RXWHV$ URXWH LV D VHULHV RI ZD\SRLQWV W\SLFDOO\ XVHG WR DVVLVW ZLWKSDVVDJH SODQQLQJ DQG QDYLJDWLRQ$ URXWH LV GLVSOD\HG RQ VFUHHQ DV D VHULHV RI ZD\SRLQWV OLQNHGE\ D OLQH5RXWH IHDWXUHV7KHUH DUH D UDQJH RI URXWH IHDWXUHV IRU EXLOGLQJ QDYLJDWLQJ DQGPDQDJLQJ URXWHV7KH URXWH IHDWXUHV DOORZ \RX WR %XLOG DQG VDYH D URXWH IRU XVH ZKHQ UHTXLUHG VWRUHG LQ WKHURXWH OLVW 1DYLJDWH IROORZ URXWHV 0DQDJH DQG HGLW URXWHV VWRUHG RQ WKH V\VWHP %XLOG D URXWH IURP DQ H[LVWLQJ WUDFN5RXWH IHDWXUHV DUH DFFHVVHG IURP WKH FKDUW DSSOLFDWLRQ E\ VHOHFWLQJ DQ H[LVWLQJ URXWH E\ XVLQJ WKH %XLOG 5RXWH RSWLRQ IURP WKH FKDUW FRQWH[W PHQX E\ XVLQJ WKH &KDUW DSSOLFDWLRQ PHQX 0HQX ! 1DYLJDWH !)ROORZ 5RXWH RU %XLOG 5RXWH1RWH 7KH 5RXWH /LVW FDQ DOVR EH DFFHVVHG IURP WKHKRPHVFUHHQ E\ VHOHFWLQJ 0\ 'DWD DQG WKHQ 5RXWHV5RXWH EXLOGLQJ$ URXWH FDQ FRQVLVW RI D FRPELQDWLRQ RI 1HZ ZD\SRLQWV H[LVWLQJ ZD\SRLQWV DQ H[LVWLQJ WUDFN$V HDFK ZD\SRLQW LV DGGHG LW LV DVVLJQHG DQ LQGH[ QXPEHUFRUUHVSRQGLQJ WR LWV SRVLWLRQ LQ WKH URXWH DQG GUDZQ RQ WKH FKDUWXVLQJ WKH FXUUHQWO\ VSHFL¿HG V\PERO 7KH IROORZLQJ VKRXOG EHQRWHG :KHQ D URXWH LV EHLQJ EXLOW LW LV QRW DFWLYH DQG GRHV QRW DIIHFWDQ\ FXUUHQW QDYLJDWLRQ <RX FDQQRW VDYH D QHZ URXWH LI DQ\ RI WKH ZD\SRLQWV ZLWKLQLW DUH FXUUHQWO\ DFWLYH%XLOGLQJ D URXWH<RX FDQ EXLOG D URXWH RQ D WRXFKVFUHHQ PXOWLIXQFWLRQ GLVSOD\E\ IROORZLQJ WKH VWHSV EHORZ)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW DQG KROG D ORFDWLRQ RQ VFUHHQ7KH FKDUW FRQWH[W PHQX LV GLVSOD\HG:D\SRLQWV 5RXWHV DQG 7UDFNV 
 6HOHFW %XLOG 5RXWH7KH EXLOG URXWH PHQX LV GLVSOD\HG 6HOHFW D ORFDWLRQ RQ VFUHHQ WR EH WKH VWDUWLQJ SRVLWLRQ 6HOHFW UHOHYDQW ORFDWLRQV WR SODFH VXEVHTXHQW ZD\SRLQWV LQRUGHU7KH URXWH LV VDYHG DQG GLVSOD\HG DV HDFK ZD\SRLQW LV SODFHG :KHQ FRPSOHWH VHOHFW )LQLVK %XLOG7KH ¿QLVK URXWH EXLOG SRS XS PHVVDJH LV GLVSOD\HG 6HOHFW )ROORZ WR LPPHGLDWHO\ IROORZ WKH URXWH RU 6HOHFW (GLW WR FKDQJH WKH URXWH QDPH RU FKDQJH WKH URXWHFRORU RU 6HOHFW ([LW WR VDYH WKH URXWH DQG UHWXUQ WR WKH FKDUWDSSOLFDWLRQ1RWH ,I \RX SODFH D ZD\SRLQW DW WKH ZURQJ SRVLWLRQ VHOHFW8QGR :D\SRLQW IURP WKH 5RXWH 0HQX%XLOGLQJ D URXWH)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 1DYLJDWH 6HOHFW %XLOG 5RXWH7KH EXLOG URXWH PHQX LV GLVSOD\HG 6HOHFW 3ODFH :SW 8VLQJ WKH -R\VWLFN VHOHFW D ORFDWLRQ RQ VFUHHQ 3UHVV WKH 2N EXWWRQ WR SODFH WKH ¿UVW ZD\SRLQW LQ WKH URXWH 8VH WKH -R\VWLFN DQG WKH 2N EXWWRQ WR SODFH VXEVHTXHQWZD\SRLQWV7KH URXWH LV VDYHG DQG GLVSOD\HG DV HDFK ZD\SRLQW LV SODFHG :KHQ \RXU URXWH LV FRPSOHWH VHOHFW )LQLVK %XLOG7KH ¿QLVK URXWH EXLOG SRS XS PHVVDJH LV GLVSOD\HG 6HOHFW )ROORZ WR LPPHGLDWHO\ IROORZ WKH URXWH RU6HOHFW (GLW WR FKDQJH WKH URXWH QDPH RU FKDQJH WKH URXWHFRORU RU 6HOHFW ([LW WR VDYH WKH URXWH DQG UHWXUQ WR WKH FKDUWDSSOLFDWLRQ1RWH ,I \RX SODFH D ZD\SRLQW DW WKH ZURQJ SRVLWLRQ VHOHFW8QGR :D\SRLQW%XLOGLQJ D URXWH XVLQJ WKH ZD\SRLQW OLVW)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 1DYLJDWH 6HOHFW %XLOG 5RXWH7KH EXLOG URXWH PHQX LV GLVSOD\HG 6HOHFW 8VH :37 /LVW7KH ZD\SRLQW OLVW LV GLVSOD\HG 6HOHFW WKH UHTXLUHG ZD\SRLQW<RX ZLOO EH WDNHQ EDFN WR WKH EXLOG URXWH PHQX $GG VXEVHTXHQW ZD\SRLQWV WR WKH URXWH7KH URXWH LV VDYHG DQG GLVSOD\HG DV HDFK ZD\SRLQW LV SODFHG :KHQ \RXU URXWH LV FRPSOHWH VHOHFW )LQLVK %XLOG7KH ¿QLVK URXWH EXLOG SRS XS PHVVDJH LV GLVSOD\HG 6HOHFW )ROORZ WR LPPHGLDWHO\ IROORZ WKH URXWH RU 6HOHFW (GLW WR FKDQJH WKH URXWH QDPH RU FKDQJH WKH URXWHFRORU RU6HOHFW ([LW WR VDYH WKH URXWH DQG UHWXUQ WR WKH FKDUWDSSOLFDWLRQ1RWH ,I \RX VHOHFW WKH ZURQJ ZD\SRLQW VHOHFW 8QGR:D\SRLQW IURP WKH URXWH PHQX$GMXVWLQJ FKDUW UDQJH ZKLOH EXLOGLQJ D URXWH)URP WKH %XLOG 5RXWH PHQX 8VH WKH RQVFUHHQ 5DQJH ,Q DQG 5DQJH 2XW LFRQV WR UDQJHLQ DQG RXW RI WKH FKDUW$GMXVWLQJ WKH FKDUW UDQJH ZKLOH EXLOGLQJ D URXWH)URP WKH %XLOG 5RXWH PHQX 8VH WKH 5DQJH ,Q DQG 5DQJH 2XW EXWWRQV WR UDQJH LQ DQGRXW RI WKH FKDUW%XLOG D URXWH IURP D WUDFN<RX FDQ FUHDWH D URXWH IURP D UHFRUGHG WUDFN:KHQ D WUDFN LV FRQYHUWHG WKH V\VWHP FUHDWHV WKH FORVHVW URXWHWKURXJK WKH UHFRUGHG WUDFN XVLQJ WKH PLQLPXP QXPEHU RIZD\SRLQWV (DFK ZD\SRLQW FUHDWHG ZLOO EH VDYHG ZLWK WKH GHSWKDQG WHPSHUDWXUH GDWD LI DSSOLFDEOH IRU WKDW SRVLWLRQ1RWH ,I D WUDFN EUHDN RFFXUV RQO\ WKH ODVW VHJPHQW LVFRQYHUWHG WR D URXWH%XLOGLQJ D URXWH IURP D WUDFN)URP WKH 7UDFN /LVW DFFHVVHG IURP WKH KRPHVFUHHQ 0\ 'DWD ! 7UDFNV DFFHVVHG IURP WKH FKDUW DSSOLFDWLRQ 0HQX ! 0\ 'DWD !7UDFNV 6HOHFW WKH 7UDFN \RX ZDQW WR FRQYHUW WR D URXWH7KH WUDFN RSWLRQV GLDORJ LV GLVSOD\HG 6HOHFW &UHDWH 5RXWH )URP 7UDFN2Q FRPSOHWLRQ WKH PD[LPXP GHYLDWLRQ RI WKH URXWH IURP WKHUHFRUGHG WUDFN LV GLVSOD\HG LQ D GLDORJ DQG WKH QHZ URXWH LVDGGHG WR WKH URXWH OLVW ,W FDQ QRZ EH GLVSOD\HG HGLWHG DQGHUDVHG HWF LQ WKH VDPH ZD\ DV RWKHU URXWHV LQ WKH V\VWHP 6HOHFW 2N WR FRQ¿UP 6HOHFW (GLW WR FKDQJH WKH QDPH DQG OLQH FRORU RI WKH FUHDWHGURXWH%XLOGLQJ D URXWH IURP D WUDFN GLVSOD\HG RQ WKH FKDUW)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW WKH UHTXLUHG WUDFN7KH WUDFN FRQWH[W PHQX LV GLVSOD\HG 6HOHFW &UHDWH 5RXWH )URP 7UDFN2Q FRPSOHWLRQ WKH PD[LPXP GHYLDWLRQ RI WKH URXWH IURP WKHUHFRUGHG WUDFN LV GLVSOD\HG LQ D SRS XS PHVVDJH DQG WKHQHZ URXWH LV DGGHG WR WKH URXWH OLVW ,W FDQ QRZ EH GLVSOD\HGHGLWHG DQG HUDVHG HWF LQ WKH VDPH ZD\ DV RWKHU URXWHV LQWKH V\VWHP 6HOHFW 2N WR FRQ¿UP 6HOHFW (GLW WR FKDQJH WKH QDPH DQG OLQH FRORU RI WKH FUHDWHGURXWH5HYLHZ RU HGLW D URXWH7KHUH DUH D YDULHW\ RI DWWULEXWHV DVVRFLDWHG ZLWK URXWHV 7KHVHFDQ EH UHYLHZHG DQG HGLWHG<RX FDQ 6KRZ RU KLGH D URXWH RQ WKH FKDUW VFUHHQ 5HYLHZ GHWDLOV RI WKH URXWH &KDQJH WKH QDPH RU FRORU RI D URXWH $GG PRYH DQG UHPRYH ZD\SRLQWV IURP D URXWH &KDQJH WKH URXWH OLQHV ZLGWK1RWH $Q DFWLYH URXWH FDQ EH HGLWHG ZLWK WKH H[FHSWLRQ RI WKHDFWLYH ZD\SRLQW ,I D ZD\SRLQW EHLQJ HGLWHG EHFRPHV DFWLYHWKHQ WKH V\VWHP VKDOO FDQFHO WKH HGLW WKH ZD\SRLQW VKDOOUHPDLQ LQ LWV RULJLQDO SRVLWLRQ D 6HULHV  F 6HULHV  H 6HULHV
6KRZLQJ RU KLGLQJ URXWHV DQG WUDFNV)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 0\ 'DWD 6HOHFW 5RXWHV RU 7UDFNV 6HOHFW 6KRZ+LGH 6HOHFW WKH URXWH RU WUDFN WR VZLWFK EHWZHHQ 6KRZ DQG +LGH6HOHFWLQJ D URXWH WR UHYLHZ RU HGLW 'R RQH RI WKH IROORZLQJ WR VHOHFW WKH UHTXLUHG URXWH )URP WKH FKDUW DSSOLFDWLRQ VHOHFW D URXWH RQ VFUHHQ WRGLVSOD\ WKH URXWH FRQWH[W PHQX )URP WKH FKDUW DSSOLFDWLRQ VHOHFW 0HQX ! 0\ 'DWD !5RXWHV DQG VHOHFW WKH UHTXLUHG URXWH IURP WKH OLVW )URP WKH +RPHVFUHHQ VHOHFW 0\ 'DWD ! 5RXWHV DQGVHOHFW WKH UHTXLUHG URXWH IURP WKH OLVW$GGLQJ D ZD\SRLQW WR D URXWH RQ WKH FKDUW VFUHHQ)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW WKH DSSURSULDWH OHJ RI WKH URXWH7KH URXWH FRQWH[W PHQX LV GLVSOD\HG 6HOHFW ,QVHUW :D\SRLQW 6HOHFW WKH ORFDWLRQ IRU WKH QHZ ZD\SRLQW7KH OHJ RI WKH URXWH LV VWUHWFKHG WR LQFOXGH WKH QHZ ZD\SRLQW5HPRYLQJ D ZD\SRLQW IURP D URXWH)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW WKH ZD\SRLQW \RX ZDQW WR HUDVH7KH ZD\SRLQW FRQWH[W PHQX LV GLVSOD\HG 6HOHFW 5HPRYH :D\SRLQW7KH 5HPRYH ZD\SRLQW GLDORJ LV GLVSOD\HG 6HOHFW <HV WR FRQ¿UP RU 1R WR FDQFHO WKH DFWLRQ7KH ZD\SRLQW ZLOO EH UHPRYHG IURP WKH URXWH EXW ZLOO VWLOO EHDYDLODEOH0RYLQJ D ZD\SRLQW ZLWKLQ D URXWH)URP WKH FKDUW DSSOLFDWLRQ 3RVLWLRQ WKH FXUVRU RYHU WKH ZD\SRLQW \RX ZDQW WR PRYH7KH ZD\SRLQW FRQWH[W PHQX LV GLVSOD\HG 6HOHFW 0RYH :D\SRLQW 6HOHFW WKH QHZ ORFDWLRQ IRU WKH ZD\SRLQW(UDVLQJ URXWHV(UDVLQJ D GLVSOD\HG URXWH)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW WKH URXWH7KH 5RXWH FRQWH[W PHQX LV GLVSOD\HG 6HOHFW (UDVH 5RXWH7KH HUDVH URXWH SRS XS PHVVDJH LV GLVSOD\HG 6HOHFW <HV WR FRQ¿UP RU 1R WR FDQFHO WKH DFWLRQ(UDVLQJ D URXWH XVLQJ WKH URXWH OLVW)URP WKH &KDUW DSSOLFDWLRQ PHQX RU WKH +RPHVFUHHQ 6HOHFW 0\ 'DWD 6HOHFW 5RXWHV7KH URXWH OLVW LV GLVSOD\HG 6HOHFW WKH URXWH \RX ZDQW WR HUDVH 6HOHFW (UDVH URXWH7KH HUDVH URXWH GLDORJ LV GLVSOD\HG 6HOHFW <HV WR FRQ¿UP RU 1R WR FDQFHO WKH DFWLRQ1RWH <RX FDQ GHOHWH DQ\ URXWH H[FHSW IRU WKH RQH WKDW \RXDUH FXUUHQWO\ IROORZLQJ :KHQ \RX HUDVH D URXWH RQO\ WKRVHZD\SRLQWV DVVRFLDWHG ZLWK WKDW URXWH DUH GHOHWHG(UDVLQJ DOO URXWHV)URP WKH KRPHVFUHHQ 6HOHFW 0\ 'DWD 6HOHFW ,PSRUW([SRUW 6HOHFW (UDVH IURP 6\VWHP 6HOHFW (UDVH 5RXWHV IURP 6\VWHP7KH HUDVH URXWHV IURP V\VWHP GLDORJ LV GLVSOD\HG 6HOHFW (UDVH $OO7KH FRQ¿UP GHOHWH GLDORJ LV GLVSOD\HG 6HOHFW <HV WR FRQ¿UP RU 1R WR FDQFHO WKH DFWLRQ5RXWH FRQWH[W PHQX3ODFLQJ WKH FXUVRU RYHU D URXWH LQ WKH FKDUW DSSOLFDWLRQ GLVSOD\VD FRQWH[W PHQX VKRZLQJ WKH OHJ RI WKH URXWH KLJKOLJKWHG E\ WKHFXUVRU DQG PHQX LWHPV7KH FRQWH[W PHQX SURYLGHV WKH IROORZLQJ PHQX LWHPV)ROORZ 5RXWH)ROORZ 5RXWH ,Q 5HYHUVH+LGH 5RXWH,QVHUW :D\SRLQW(GLW 5RXWH(UDVH 5RXWH$GG 5RXWH /HJ$FTXLUH 7DUJHW RQO\ DYDLODEOH LI 5DGDU RYHUOD\ LV VZLWFKHGRQ:KHQ IROORZLQJ D URXWH WKH FRQWH[W PHQX RSWLRQV FKDQJH WR6WRS )ROORZ5HVWDUW ;7($GYDQFH :D\SRLQW,QVHUW :D\SRLQW(GLW 5RXWH(UDVH 5RXWH ² 'LVDEOHG$GG 5RXWH /HJ$FTXLUH 7DUJHW RQO\ DYDLODEOH LI 5DGDU RYHUOD\ LV VZLWFKHGRQ$FFHVVLQJ WKH FRQWH[W PHQX<RX FDQ DFFHVV WKH FRQWH[W PHQX E\ IROORZLQJ WKH VWHSV EHORZ 1RQWRXFKVFUHHQ DQG +\EULG7RXFK GLVSOD\VL 6HOHFWLQJ D ORFDWLRQ REMHFW RU WDUJHW RQVFUHHQ DQGSUHVVLQJ WKH 2N EXWWRQ +\EULG7RXFK DQG 7RXFK RQO\ GLVSOD\VL 6HOHFWLQJ DQ REMHFW RU WDUJHW RQVFUHHQLL 6HOHFWLQJ DQG KROGLQJ RQ D ORFDWLRQ RQVFUHHQ:D\SRLQWV 5RXWHV DQG 7UDFNV 
 7UDFNV$ WUDFN LV DQ RQVFUHHQ WUDLO WKDW VKRZV WKH SDVVDJH \RX KDYHWDNHQ 7KLV WUDLO LV PDGH XS RI D VHULHV RI WUDFN SRLQWV ZKLFKDUH FUHDWHG DXWRPDWLFDOO\ <RX FDQ VDYH WKH WUDFN WR FUHDWH DSHUPDQHQW UHFRUG RI ZKHUH \RX KDYH EHHQ:LWK WUDFNV \RX FDQ 5HYLHZ ZKHUH \RX KDYH EHHQ &UHDWH D URXWH IURP D WUDFN&UHDWLQJ D WUDFN)URP WKH FKDUW DSSOLFDWLRQ PHQX 6HOHFW 1DYLJDWH 6HOHFW 6WDUW 7UDFN7KH VWDUW WUDFN SRS XS PHVVDJH LV GLVSOD\HG 6HOHFW 2N$V \RX QDYLJDWH \RXU YHVVHO \RXU MRXUQH\ LV DXWRPDWLFDOO\UHFRUGHG DV D WUDFN1RWH ,I WKH SRZHU IDLOV ZKLOVW D WUDFN LV EHLQJ UHFRUGHG RU WKHSRVLWLRQ ¿[ LV ORVW D EUHDN ZLOO RFFXU LQ WKH WUDFN1RWH ,I WKH PD[LPXP QXPEHU RI WUDFNLQJ SRLQWV LV UHDFKHG\RX ZLOO EH ZDUQHG 7KH WUDFN ZLOO FRQWLQXH WR EH UHFRUGHG ZLWKWKH HDUOLHU WUDFNLQJ SRLQWV EHLQJ RYHUZULWWHQ 7R FRPSOHWH \RXU WUDFN VHOHFW 6WRS 7UDFN IURP WKH 1DYLJDWHPHQX 0HQX ! 1DYLJDWH ! 6WRS 7UDFN7KH WUDFN VWRSSHG SRS XS PHVVDJH LV GLVSOD\HG 6HOHFW 6DYH(UDVH RU &DQFHO6DYH ² :LOO VDYH WKH WUDFN DQG RSHQ WKH (GLW WUDFN3URSHUWLHV GLDORJ ZKHUH \RX FDQ QDPH WKH WUDFN DQGFKRRVH D FRORU IRU WKH WUDFN OLQH(UDVH ² :LOO HUDVH WKH WUDFN&DQFHO ² :LOO FDQFHO WKH 6WRS 7UDFN DFWLRQ7UDFN LQWHUYDO7KH WUDFN LQWHUYDO VSHFL¿HV WKH WLPH SHULRG RU GLVWDQFH EHWZHHQWKH SRLQWV LQ D WUDFN<RX FDQ DGMXVW WKH LQWHUYDO EHWZHHQ WUDFN SRLQWV DQG FKRRVH WKHLQWHUYDO W\SH LH GLVWDQFH RU WLPH ZKLFK FDQ KHOS HQVXUH EHVWXVH RI WKH DYDLODEOH VWRUDJH7KH VHWWLQJV DUH DYDLODEOH IURP WKH 7UDFNV 6HWXS RSWLRQV5HFRUG 7UDFN %\ ² VSHFL¿HV WKH LQWHUYDO W\SH $XWR  7LPH 'LVWDQFH7UDFN ,QWHUYDO ² VSHFL¿HV WKH LQWHUYDO YDOXH HJ  PLQXWHV)RU H[DPSOH ZKHQ FUHDWLQJ D WUDFN IRU D ORQJ MRXUQH\ DQ LQWHUYDOVHW WR $XWR FRXOG UHVXOW LQ UDSLG XVH RI DOO RI WKH VWRUDJH DYDLODEOHIRU WUDFN SRLQWV ,Q WKLV FDVH VHOHFWLQJ D KLJKHU YDOXH IRU WKH7UDFN ,QWHUYDO ZRXOG SURYLGH FDSDFLW\ IRU D ORQJHU WUDFN6HWWLQJ WKH WUDFN LQWHUYDO)URP WKH 0\ 'DWD PHQX LQ WKH &KDUW DSSOLFDWLRQ RU RQ WKH+RPHVFUHHQ 6HOHFW 7UDFNV 6HOHFW 7UDFN 6HWXS 6HOHFW 5HFRUG 7UDFNV %\ DQG VHW WR WKH DSSURSULDWH YDOXH $XWR² 7KH WUDFN LQWHUYDO LV DXWRPDWLFDOO\ VHW $XWR ZLOOPLQLPL]H WUDFN SRLQWV ZKLOVW PDLQWDLQLQJ FRUUHODWLRQEHWZHHQ WKH WUDFN DQG WKH DFWXDO SDWK IROORZHG 7LPH² 7KH WUDFN SRLQWV DUH SODFHG DW UHJXODU LQWHUYDOV RIWLPH 'LVWDQFH² 7KH WUDFN SRLQWV DUH SODFHG DW UHJXODU LQWHUYDOVRI GLVWDQFH 6HOHFW WKH 7UDFN ,QWHUYDO DQG VHW WR WKH DSSURSULDWH YDOXH 8QLWV RI WLPH DYDLODEOH LI ³UHFRUG WUDFN E\´ LV VHW WR WLPH 8QLWV RI GLVWDQFH DYDLODEOH LI ³UHFRUG WUDFN E\´ LV VHW WRGLVWDQFH 1RW DYDLODEOH ² QR 7UDFN ,QWHUYDO LV DYDLODEOH LI WKH ³UHFRUGWUDFN E\´ LV VHW WR DXWR5HYLHZLQJ DQG HGLWLQJ D WUDFN<RX FDQ UHYLHZ DQG HGLW DVSHFWV RI WKH WUDFNV VWRUHG<RX FDQ (UDVH D WUDFN &UHDWH D URXWH IURP D WUDFN 6KRZ RU KLGH D WUDFN RQ WKH FKDUW RQO\ DYDLODEOH IURP WKHFKDUW DSSOLFDWLRQ &KDQJH WKH QDPH RI D WUDFN &KDQJH WKH FRORU RI D WUDFN6KRZLQJ RU KLGLQJ URXWHV DQG WUDFNV)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 0\ 'DWD 6HOHFW 5RXWHV RU 7UDFNV 6HOHFW 6KRZ+LGH 6HOHFW WKH URXWH RU WUDFN WR VZLWFK EHWZHHQ 6KRZ DQG +LGH6HOHFWLQJ D WUDFN WR UHYLHZ RU HGLW 'R RQH RI WKH IROORZLQJ WR VHOHFW WKH UHTXLUHG WUDFN )URP WKH &KDUW DSSOLFDWLRQ VHOHFW D WUDFN RQ VFUHHQ WRGLVSOD\ WKH WUDFN FRQWH[W PHQX )URP WKH &KDUW DSSOLFDWLRQ JR WR WKH IROORZLQJ PHQX0HQX ! 0\ 'DWD ! 7UDFNV  DQG VHOHFW WKH UHTXLUHG WUDFN )URP WKH +RPHVFUHHQ VHOHFW 0\ 'DWD ! 7UDFNV DQGVHOHFW WKH UHTXLUHG WUDFN<RX FDQ WKHQ SURFHHG DQG UHYLHZ RU HGLW WKH UHTXLUHG WUDFN XVLQJWKH RSWLRQV DYDLODEOH5HQDPLQJ D WUDFN<RX FDQ FKDQJH WKH QDPH RI D VDYHG WUDFN:LWK WKH WUDFN OLVW GLVSOD\HG 6HOHFW WKH WUDFN \RX ZDQW WR HGLW7KH WUDFN RSWLRQV SDJH LV GLVSOD\HG 6HOHFW (GLW 1DPH7KH RQVFUHHQ NH\ERDUG LV GLVSOD\HG 8VH WKH RQVFUHHQ NH\ERDUG WR FKDQJH WKH WUDFN QDPH :KHQ ¿QLVKHG 6HOHFW 6$9(<RX FDQ DOVR HGLW WUDFN GHWDLOV E\ VHOHFWLQJ (GLW 7UDFN IURP WKHWUDFN FRQWH[W PHQX&KDQJLQJ WKH FRORU RI D WUDFN<RX FDQ FKDQJH WKH FRORU RI D VDYHG WUDFN:LWK WKH WUDFN OLVW GLVSOD\HG 6HOHFW WKH WUDFN \RX ZDQW WR HGLW7KH WUDFN RSWLRQV SDJH LV GLVSOD\HG 6HOHFW (GLW &RORXU$ OLVW RI FRORUV LV GLVSOD\HG 6HOHFW WKH FRORU \RX ZDQW WR XVH D 6HULHV  F 6HULHV  H 6HULHV
<RX FDQ DOVR HGLW WUDFN GHWDLOV E\ VHOHFWLQJ (GLW 7UDFN IURP WKHWUDFN FRQWH[W PHQX(UDVLQJ WUDFNV(UDVLQJ D WUDFN)URP WKH 0\ 'DWD PHQX 6HOHFW 7UDFNV7KH WUDFN OLVW LV GLVSOD\HG 6HOHFW WKH WUDFN \RX ZDQW WR HUDVH 6HOHFW (UDVH 7UDFN7KH HUDVH WUDFN SRS XS PHVVDJH LV GLVSOD\HG 6HOHFW <HV WR FRQ¿UP RU 1R WR FDQFHO WKH DFWLRQ(UDVLQJ DOO WUDFNV)URP WKH +RPHVFUHHQ 6HOHFW 0\ 'DWD 6HOHFW ,PSRUW([SRUW 6HOHFW (UDVH IURP 6\VWHP 6HOHFW (UDVH 7UDFNV IURP 6\VWHP7KH WUDFNV OLVW LV GLVSOD\HG 6HOHFW (UDVH $OO7KH FRQ¿UP GHOHWH GLDORJ LV GLVSOD\HG 6HOHFW <HV WR FRQ¿UP RU 1R WR FDQFHO WKH DFWLRQ7UDFN FRQWH[W PHQX6HOHFWLQJ D WUDFN LQ WKH FKDUW DSSOLFDWLRQ GLVSOD\V D FRQWH[W PHQXVKRZLQJ WKH WUDFN OHQJWK QXPEHU RI SRLQWV DQG PHQX LWHPV7KH FRQWH[W PHQX SURYLGHV WKH IROORZLQJ PHQX LWHPV6WRS *RWR RQO\ DYDLODEOH GXULQJ DFWLYH QDYLJDWLRQ(UDVH 7UDFN+LGH 7UDFN&UHDWH 5RXWH )URP5HQDPH(GLW &RORU$FTXLUH 7DUJHW RQO\ DYDLODEOH LI 5DGDU RYHUOD\ LV VZLWFKHGRQ:KHQ FUHDWLQJ D WUDFN WKH FRQWH[W PHQX RSWLRQV FKDQJH WR6WRS *RWR RQO\ DYDLODEOH GXULQJ DFWLYH QDYLJDWLRQ6WRS 7UDFN(UDVH 5RXWH ² 'LVDEOHG&UHDWH 5RXWH )URP5HQDPH(GLW &RORU$FTXLUH 7DUJHW RQO\ DYDLODEOH LI 5DGDU RYHUOD\ LV VZLWFKHGRQ$FFHVVLQJ WKH FRQWH[W PHQX<RX FDQ DFFHVV WKH FRQWH[W PHQX E\ IROORZLQJ WKH VWHSV EHORZ 1RQWRXFKVFUHHQ DQG +\EULG7RXFK GLVSOD\VL 6HOHFWLQJ D ORFDWLRQ REMHFW RU WDUJHW RQVFUHHQ DQGSUHVVLQJ WKH 2N EXWWRQ +\EULG7RXFK DQG 7RXFK RQO\ GLVSOD\VL 6HOHFWLQJ DQ REMHFW RU WDUJHW RQVFUHHQLL 6HOHFWLQJ DQG KROGLQJ RQ D ORFDWLRQ RQVFUHHQ ,PSRUW DQG ([SRUW:D\SRLQWV 5RXWHV DQG 7UDFNV FDQ EH LPSRUWHG DQG H[SRUWHGXVLQJ D PHPRU\ FDUG)RU GHWDLOV RQ LPSRUWLQJ DQG H[SRUWLQJ ZD\SRLQWV URXWHV DQGWUDFNV UHIHU WR  6DYLQJ XVHU GDWD DQG XVHU VHWWLQJV:D\SRLQWV 5RXWHV DQG 7UDFNV 
 :D\SRLQWV URXWHV DQG WUDFNVVWRUDJH FDSDFLW\7KH GLVSOD\ FDQ VWRUH WKH IROORZLQJ TXDQWLWLHV RI ZD\SRLQWVURXWHV DQG WUDFNV:D\SRLQWV   ZD\SRLQWV  ZD\SRLQW JURXSV HDFK JURXS FDQ FRQWDLQ XS WR ZD\SRLQWV5RXWHV   URXWHV HDFK URXWH FDQ FRQWDLQ XS WR  ZD\SRLQWV7UDFNV   WUDFNV HDFK WUDFN FDQ FRQWDLQ XS WR  SRLQWV D 6HULHV  F 6HULHV  H 6HULHV
&KDSWHU  &KDUW DSSOLFDWLRQ&KDSWHU FRQWHQWV  &KDUW DSSOLFDWLRQ RYHUYLHZ RQ SDJH   (OHFWURQLF FKDUWV RYHUYLHZ RQ SDJH   1DYLJDWLRQ RSWLRQV RQ SDJH   &KDUW UDQJLQJ DQG SDQQLQJ RQ SDJH   &KDUW VHOHFWLRQ RQ SDJH   9HVVHO SRVLWLRQ RQ WKH FKDUW GLVSOD\ RQ SDJH   &KDUW RULHQWDWLRQ RQ SDJH   &KDUW PRWLRQ PRGH RQ SDJH   &KDUW YLHZV RQ SDJH   &KDUW GLVSOD\ RQ SDJH   2YHUOD\V RQ SDJH   &KDUW YHFWRUV RQ SDJH   &DUWRJUDSK\ REMHFWV RQ SDJH   2EMHFW LQIRUPDWLRQ RQ SDJH   'HSWK  &RQWRXU RSWLRQV RQ SDJH   0\ 'DWD RSWLRQV RQ SDJH   0XOWLSOH FKDUW V\QFKURQL]DWLRQ RQ SDJH   0HDVXULQJ GLVWDQFHV DQG EHDULQJV RQ SDJH &KDUW DSSOLFDWLRQ 
 &KDUW DSSOLFDWLRQ RYHUYLHZ7KH FKDUW DSSOLFDWLRQ SURYLGHV URXWH SODQQLQJ DQG QDYLJDWLRQIHDWXUHV 7KH &KDUW DSSOLFDWLRQ LV SUHORDGHG ZLWK D EDVLFZRUOG EDVH PDS &RPSDWLEOH HOHFWURQLF FKDUWV FDQ EH XVHG WRH[SDQG WKH LQIRUPDWLRQ DQG GHWDLO UHJDUGLQJ \RXU VXUURXQGLQJVDQG FKDUWHG REMHFWV 'HSHQGLQJ RQ FDUWRJUDSK\ W\SH WKH FKDUWDSSOLFDWLRQ FDQ EH VHW WR ' RU ' YLHZ7\SLFDO FKDUW DSSOLFDWLRQ WDVNV LQFOXGH  0RQLWRULQJ \RXU YHVVHO ORFDWLRQ DQG KHDGLQJ ,QWHUSUHWLQJ \RXU VXUURXQGLQJV 0HDVXULQJ GLVWDQFH DQG EHDULQJ 1DYLJDWLQJ XVLQJ ZD\SRLQWV 3ODQQLQJ DQG 1DYLJDWLQJ XVLQJ URXWHV .HHSLQJ WUDFN DQG UHFRUGLQJ \RXU FRXUVH 9LHZLQJ LQIRUPDWLRQ IRU FKDUWHG REMHFWV 0RQLWRULQJ ¿[HG DQG PRYLQJ REMHFWV XVLQJ UDGDU RYHUOD\ 0RQLWRULQJ $,6 HTXLSSHG YHVVHOV LQ \RXU YLFLQLW\ XVLQJ $,6RYHUOD\ 0RQLWRULQJ 86 DQG &DQDGLDQ ZHDWKHU LQIRUPDWLRQ XVLQJ WKH12:5DG RYHUOD\ 'LVSOD\LQJ DHULDO SKRWRV XVLQJ WKH DHULDO RYHUOD\1RWH 7R REWDLQ IXOO ' GHWDLO \RX PXVW KDYH FKDUW FDUGVFRQWDLQLQJ ' FDUWRJUDSK\ IRU WKH DSSURSULDWH JHRJUDSKLFDUHD7KH FKDUW DSSOLFDWLRQ FDQ EH FXVWRPL]HG <RX FDQ $OWHU WKH ZD\ WKH FKDUW LV GUDZQ LQ UHODWLRQ WR \RXU YHVVHODQG WKH GLUHFWLRQ \RX DUH WUDYHOOLQJ LQ FKDUW RULHQWDWLRQ DQGPRWLRQ PRGH 0DQDJH DQG HGLW FKDUW GDWD \RX KDYH HQWHUHG &RQWURO WKH OHYHO RI GHWDLO GLVSOD\HG RQVFUHHQ&KDUW GDWXP7KH FKDUW GDWXP VHWWLQJ DIIHFWV WKH DFFXUDF\ RI WKH YHVVHOSRVLWLRQ LQIRUPDWLRQ GLVSOD\HG LQ WKH FKDUW DSSOLFDWLRQ,Q RUGHU IRU \RXU *36 UHFHLYHU DQG PXOWLIXQFWLRQ GLVSOD\ WRFRUUHODWH DFFXUDWHO\ ZLWK \RXU SDSHU FKDUWV WKH\ PXVW EH XVLQJWKH VDPH GDWXP7KH GHIDXOW GDWXP IRU \RXU PXOWLIXQFWLRQ GLVSOD\ LV :*6,I WKLV LV QRW WKH GDWXP XVHG E\ \RXU SDSHU FKDUWV \RX FDQFKDQJH WKH GDWXP XVHG E\ \RXU PXOWLIXQFWLRQ GLVSOD\ XVLQJ WKHV\VWHP SUHIHUHQFHV SDJH 7KH V\VWHP SUHIHUHQFHV SDJH FDQ EHDFFHVVHG IURP WKH KRPHVFUHHQ 6HWXS ! 6\VWHP 6HWWLQJV !6\VWHP 3UHIHUHQFHV ! 6\VWHP 'DWXP:KHQ \RX FKDQJH WKH GDWXP IRU \RXU PXOWLIXQFWLRQ GLVSOD\ WKHFKDUW JULG ZLOO VXEVHTXHQWO\ PRYH DFFRUGLQJ WR WKH QHZ GDWXPDQG WKH ODWLWXGHORQJLWXGH RI WKH FDUWRJUDSKLF IHDWXUHV ZLOO DOVRFKDQJH DFFRUGLQJO\ <RXU PXOWLIXQFWLRQ GLVSOD\ ZLOO DWWHPSW WR VHWXS DQ\ *36 UHFHLYHU WR WKH QHZ GDWXP DV IROORZV ,I \RXU PXOWLIXQFWLRQ GLVSOD\ KDV D EXLOW LQ *36 UHFHLYHU LW ZLOODXWRPDWLFDOO\ FRUUHODWH HDFK WLPH \RX FKDQJH WKH GDWXP ,I \RX KDYH D 5D\PDULQH *36 UHFHLYHU XVLQJ 6HD7DON RU6HD7DONQJ LW ZLOO DXWRPDWLFDOO\ FRUUHODWH HDFK WLPH \RX FKDQJHWKH GDWXP RQ WKH PXOWLIXQFWLRQ GLVSOD\ ,I \RX KDYH D 5D\PDULQH *36 UHFHLYHU XVLQJ 10($ RU DWKLUGSDUW\ *36 UHFHLYHU \RX PXVW FRUUHODWH LW VHSDUDWHO\,W PD\ EH SRVVLEOH WR XVH \RXU PXOWLIXQFWLRQ GLVSOD\ WR FRUUHODWHDQ 10($ *36 UHFHLYHU )URP WKH KRPHVFUHHQ JR WR6HWXS ! 6\VWHP VHWWLQJV ! *36 6HWXS ! 9LHZ 6DWHOOLWH6WDWXV ,I WKH GDWXP YHUVLRQ LV GLVSOD\HG LW PD\ EH SRVVLEOHWR FKDQJH LW )URP WKH KRPHVFUHHQ JR WR 6HWXS ! 6\VWHPVHWWLQJV ! 'DWD 6RXUFHV ! *36 'DWXP1RWH 5D\PDULQH UHFRPPHQGV WKDW \RX FKHFN WKH GLVSOD\HGYHVVHO SRVLWLRQ LQ WKH FKDUW DSSOLFDWLRQ DJDLQVW \RXU DFWXDOSUR[LPLW\ WR D NQRZQ FKDUWHG REMHFW $ W\SLFDO *36 KDV DQDFFXUDF\ RI EHWZHHQ  DQG  P&KDUW FRQWH[W PHQX7KH &KDUW FRQWH[W PHQX SURYLGHV WKH FXUVRUV SRVLWLRQDO GDWDDQG VKRUWFXWV WR PHQX RSWLRQV7KH PHWKRG RI VHOHFWLQJ D FKDUW REMHFW XVLQJ D WRXFKVFUHHQGLVSOD\ GHSHQGV RQ WKH &RQWH[W 0HQX VHWWLQJ LQ WKH FKDUW6HWXS PHQX ZKLFK FDQ EH VHW WR 7RXFK RU +ROG7KH FRQWH[W PHQX SURYLGHV WKH IROORZLQJ SRVLWLRQDO GDWD IRU WKHFXUVRU SRVLWLRQ LQ UHODWLRQ WR \RXU YHVVHO /DWLWXGH /RQJLWXGH 5DQJH %HDULQJ7KH IROORZLQJ PHQX LWHPV DUH DYDLODEOH*RWR &XUVRU 6WRS *RWR 6WRS )ROORZ3ODFH :D\SRLQW3KRWR7LGH 6WDWLRQ RQO\ DYDLODEOH LI D WLGH VWDWLRQ LV VHOHFWHG&XUUHQW 6WDWLRQ RQO\ DYDLODEOH LI D FXUUHQW VWDWLRQ LV VHOHFWHG3LORW %RRN RQO\ DYDLODEOH DW FHUWDLQ SRUWV$QLPDWH RQO\ DYDLODEOH LI D WLGH RU FXUUHQW VWDWLRQ LV VHOHFWHG&KDUW 2EMHFWV)LQG 1HDUHVW0HDVXUH%XLOG 5RXWH$FTXLUH 7DUJHW RQO\ DYDLODEOH LI 5DGDU RYHUOD\ LV VZLWFKHGRQ6OHZ WKHUPDO FDPHUD RQO\ DYDLODEOH ZKHQ WKHUPDO FDPHUDLV FRQQHFWHG DQG RSHUDWLQJ$FFHVVLQJ WKH FRQWH[W PHQX<RX FDQ DFFHVV WKH FRQWH[W PHQX E\ IROORZLQJ WKH VWHSV EHORZ 1RQWRXFKVFUHHQ DQG +\EULG7RXFK GLVSOD\VL 6HOHFWLQJ D ORFDWLRQ REMHFW RU WDUJHW RQVFUHHQ DQGSUHVVLQJ WKH 2N EXWWRQ +\EULG7RXFK DQG 7RXFK RQO\ GLVSOD\VL 6HOHFWLQJ DQ REMHFW RU WDUJHW RQVFUHHQLL 6HOHFWLQJ DQG KROGLQJ RQ D ORFDWLRQ RQVFUHHQ6HOHFWLQJ FRQWH[W PHQX VHWWLQJV2Q WRXFKVFUHHQ PXOWLIXQFWLRQ GLVSOD\V \RX FDQ FKRRVH KRZFKDUW REMHFW FRQWH[W PHQXV DUH D DFFHVVHG)URP WKH +RPHVFUHHQ 6HOHFW &XVWRPL]H D 6HULHV  F 6HULHV  H 6HULHV
 6HOHFW 'LVSOD\ 3UHIHUHQFHV 6HOHFW &KDUW &W[W 0HQX WR VZLWFK EHWZHHQ 7RXFK RU +ROG +ROG ² UHTXLUHV \RX WR WRXFK DQG KROG RQ D FKDUW REMHFW WRDFFHVV WKH FRQWH[W PHQX 7RXFK ² UHTXLUHV \RX WR WRXFK D FKDUW REMHFW WR DFFHVVWKH FRQWH[W PHQX (OHFWURQLF FKDUWV RYHUYLHZ<RXU PXOWLIXQFWLRQ GLVSOD\ LQFOXGHV EDVLF ZRUOG EDVH PDSV(OHFWURQLF FKDUWV SURYLGH DGGLWLRQDO FDUWRJUDSKLF LQIRUPDWLRQ7KH OHYHO RI FDUWRJUDSKLF GHWDLO VKRZQ YDULHV IRU GLIIHUHQW FKDUWW\SHV JHRJUDSKLF ORFDWLRQV DQG FKDUW VFDOHV 7KH FKDUW VFDOHLQ XVH LV LQGLFDWHG E\ WKH RQVFUHHQ VFDOH LQGLFDWRU WKH YDOXHGLVSOD\HG LV WKH GLVWDQFH WKDW WKH OLQH UHSUHVHQWV DFURVV WKHVFUHHQ<RX FDQ UHPRYH DQG LQVHUW FKDUW FDUGV DW DQ\ WLPH 7KH FKDUWVFUHHQ LV DXWRPDWLFDOO\ UHGUDZQ ZKHQ WKH V\VWHP GHWHFWV WKDW DFRPSDWLEOH FKDUW FDUG KDV EHHQ LQVHUWHG RU UHPRYHG8VLQJ D GXDO YLHZ SDJH LW LV SRVVLEOH WR GLVSOD\ GLIIHUHQWFDUWRJUDSK\ W\SHV VLPXOWDQHRXVO\&DXWLRQ &DUH RI FKDUW DQG PHPRU\FDUGV7R DYRLG LUUHSDUDEOH GDPDJH WR DQG  RU ORVV RI GDWDIURP FKDUW DQG PHPRU\ FDUGV '2 127 VDYH GDWD RU ¿OHV WR D FDUG FRQWDLQLQJFDUWRJUDSK\ DV WKH FKDUWV PD\ EH RYHUZULWWHQ (QVXUH WKDW FKDUW DQG PHPRU\ FDUGV DUH ¿WWHGWKH FRUUHFW ZD\ DURXQG '2 127 WU\ WR IRUFH DFDUG LQWR SRVLWLRQ '2 127 XVH D PHWDOOLF LQVWUXPHQW VXFK DV DVFUHZGULYHU RU SOLHUV WR LQVHUW RU UHPRYH D FKDUWRU PHPRU\ FDUG/LJKW+RXVH FKDUWV:LWK WKH LQWURGXFWLRQ RI WKH /LJKW+RXVH ,, VRIWZDUH 5D\PDULQHPXOWLIXQFWLRQ GLVSOD\V QRZ VXSSRUW WKH XVH RI 5D\PDULQH¶V QHZ/LJKW+RXVH FKDUWV/LJKW+RXVH FKDUWV DUH GHULYHG IURP YHFWRU DQG UDVWHU EDVHGFKDUWV WKH /LJKW+RXVH FKDUW HQJLQH HQDEOHV 5D\PDULQH WR RIIHUQHZ FKDUW W\SHV DQG UHJLRQV IURP DURXQG WKH JOREH5HIHU WR WKH 5D\PDULQH ZHEVLWH IRU WKH ODWHVW LQIRUPDWLRQ RQDYDLODEOH /LJKW+RXVH FKDUWV5DVWHU FKDUWV5DVWHU FKDUWV DUH DQ H[DFW FRS\  VFDQ RI DQ H[LVWLQJ SDSHUFKDUW $OO LQIRUPDWLRQ LV HPEHGGHG GLUHFWO\ LQ WKH FKDUW 5DQJLQJLQ DQG RXW RI UDVWHU FKDUWV ZLOO PDNH HYHU\WKLQJ DSSHDU ODUJHURU VPDOOHU RQ WKH VFUHHQ LQFOXGLQJ WH[W :KHQ FKDQJLQJ WKH&KDUW DSSOLFDWLRQ¶V RULHQWDWLRQ HYHU\WKLQJ RQ WKH FKDUW ZLOO URWDWHLQFOXGLQJ WKH WH[W $V UDVWHU FKDUWV DUH D VFDQQHG LPDJH WKH ¿OHVL]H LV QRUPDOO\ ELJJHU ZKHQ FRPSDUHG WR WKH YHFWRU HTXLYDOHQW&KDUW DSSOLFDWLRQ 
9HFWRU FKDUWV9HFWRU FKDUWV DUH FRPSXWHU JHQHUDWHG FRQVLVWLQJ RI D VHULHVRI SRLQWV DQG OLQHV WKDW PDNH XS WKH FKDUW &KDUW REMHFWV DQGRYHUOD\V RQ YHFWRU FKDUWV FDQ EH VZLWFKHG RQ DQG RII DQGFKDUW REMHFWV FDQ EH VHOHFWHG WR SURYLGH IXUWKHU LQIRUPDWLRQ5DQJLQJ LQ DQG RXW RI YHFWRU FKDUWV ZLOO PDNH JHRJUDSKLFDOIHDWXUHV DSSHDU ODUJHU RU VPDOOHU RQ WKH VFUHHQ KRZHYHU WH[WDQG FKDUW REMHFWV ZLOO UHPDLQ WKH VDPH VL]H UHJDUGOHVV RI UDQJH:KHQ FKDQJLQJ WKH &KDUW DSSOLFDWLRQ¶V RULHQWDWLRQ JHRJUDSKLFDOIHDWXUHV ZLOO URWDWH EXW WH[W DQG FKDUW REMHFWV ZLOO UHPDLQ LQWKH FRUUHFW RULHQWDWLRQ IRU WKH GLVSOD\ $V YHFWRU FKDUWV DUHJHQHUDWHG UDWKHU WKDQ D VFDQQHG LPDJH WKH ¿OH VL]H LV QRUPDOO\VPDOOHU ZKHQ FRPSDUHG WR WKH UDVWHU HTXLYDOHQW'RZQORDGLQJ /LJKW+RXVH70 FKDUWV/LJKW+RXVH70 FKDUWV FDQ EH GRZQORDGHG WKURXJK WKH 5D\PDULQHZHEVLWH,PSRUWDQW <RX PXVW UHDG DQG DJUHH WR WKH /LJKW+RXVH70FKDUWV (QG 8VHU /LFHQVH $JUHHPHQW (8/$ EHIRUHGRZQORDGLQJ DQG XVLQJ /LJKW+RXVH70 FKDUWV *R WR WKH /LJKW+RXVH FKDUWV SDJH RI WKH 5D\PDULQH ZHEVLWHKWWSZZZUD\PDULQHFRPOLJKWKRXVHFKDUWV 6HOHFW HLWKHU WKH 5DVWHU RU 9HFWRU FKDUWV7KH &KDUW UHJLRQV SDJH LV GLVSOD\HG 6HOHFW \RXU UHJLRQ7KH FKDUW UHJLRQ GRZQORDG SDJH LV GLVSOD\HG &OLFN µ9LHZ WKH WHUPV RI XVH¶ 5HDG DQG HQVXUH \RX )8//< XQGHUVWDQG WKH (QG 8VHU/LFHQVH $JUHHPHQW (8/$<RX VKRXOG RQO\ SURFHHG WR WKH QH[W VWHS LI \RX DJUHH WR WKHWHUPV RI WKH (8/$ (QWHU \RXU GHWDLOV LQ WKH UHOHYDQW ¿HOGV &OLFN WKH FKHFN ER[ DJDLQVW µ, KDYH UHDG DQG DJUHH WR WKH/LJKW+RXVH &KDUWV WHUPV RI XVH &OLFN 'RZQORDG &KDUW7KH GRZQORDG VKRXOG VWDUW DXWRPDWLFDOO\ $ OLQN LV SURYLGHG LIWKH GRZQORDG GRHV QRW FRPPHQFH1RWH 'XH WR WKH ¿OH VL]H WKH GRZQORDG PD\ WDNH VRPH WLPH 'RZQORDG WLPHV ZLOO GLIIHU GHSHQGLQJ RQ FRQQHFWLRQ VSHHG $V WKH ¿OHV DUH ODUJH LW LV UHFRPPHQGHG WKDW \RX XVH DGRZQORDG PDQDJHU  DFFHOHUDWRU ZKLFK FDQ VSHHG XS \RXUGRZQORDG WLPH DQG HQVXUH WKDW LI WKH GRZQORDG IDLOV WKHGRZQORDG FDQ EH UHVXPHG UDWKHU WKDQ GRZQORDGLQJ WKHHQWLUH ¿OH DJDLQ :DLW IRU WKH GRZQORDG WR ¿QLVK7KH GRZQORDGHG ¿OH FDQ QRZ EH XQ]LSSHG  H[WUDFWHG WR PHPRU\FDUG IRU XVH ZLWK \RXU PXOWLIXQFWLRQ GLVSOD\ D 6HULHV  F 6HULHV  H 6HULHV
8Q]LSSLQJ ¿OHV WR PHPRU\ FDUG7KH /LJKW+RXVH FKDUWV GRZQORDG ¿OH PXVW EH XQ]LSSHG H[WUDFWHG WR PHPRU\ FDUG IRU XVH RQ \RXU PXOWLIXQFWLRQ GLVSOD\1RWH 7KH LQVWUXFWLRQV EHORZ DUH SURYLGHG IRU JXLGDQFH RQO\'HSHQGLQJ RQ \RXU 3&¶V RSHUDWLQJ V\VWHP DQG WKH DUFKLYLQJ]LS VRIWZDUH LQ XVH WKH VWHSV UHTXLUHG PD\ GLIIHU VOLJKWO\ IURPWKRVH VKRZQ EHORZ ,I \RX DUH XQVXUH SOHDVH FRQVXOW \RXURSHUDWLQJ V\VWHP¶V DQG RU DUFKLYLQJ VRIWZDUH¶V KHOS ¿OHV7R XQ]LS  H[WUDFW FKDUWV ZLWK D ¿OHVL]H RYHU *% \RX PD\QHHG WR LQVWDOO UGSDUW\ DUFKLYLQJ ]LS VRIWZDUH VXFK DV ]LSKWWSZZZ±]LSRUJ(QVXUH \RX KDYH D PHPRU\ FDUG ZLWK VXI¿FLHQW VSDFH IRU WKHFKDUWV \RX ZDQW WR GRZQORDG 7KH )LOH VL]H LV GLVSOD\HG RQ HDFKFKDUW UHJLRQ¶V GRZQORDG SDJH)RU EHVW SHUIRUPDQFH LW LV UHFRPPHQGHG WKDW \RX XVH &ODVV RU 8+6 8OWUD +LJK 6SHHG FODVV PHPRU\ FDUGV /RFDWH WKH GRZQORDGHG ¿OH7KH ¿OH ZLOO EH VWRUHG LQ WKH IROGHU \RX VHOHFWHG RU LQ \RXUQRUPDO GRZQORDGV IROGHU 5LJKW FOLFN RQ WKH ¿OH DQG VHOHFW WKH ([WUDFW +HUH RSWLRQ IURPWKH ]LS RSWLRQV 2QFH DOO ¿OHV KDYH EHHQ H[WUDFWHG VHOHFW WKH FKDUW ¿OHV 5LJKW FOLFN DQG FKRRVH 6HQG WR ! 5HPRYDEOH 'LVN7KH &KDUW ¿OHV ZLOO QRZ EH FRSLHG WR \RXU PHPRU\ FDUG &KHFN WKDW WKH ¿OHV KDYH EHHQ VXFFHVVIXOO\ SODFHG RQ \RXUPHPRU\ FDUG E\ YLHZLQJ LWV FRQWHQWV LQ \RXU ¿OH EURZVHU 6DIHO\ UHPRYH \RXU PHPRU\ FDUG IURP \RXU 3&¶V FDUG UHDGHU ,QVHUW \RXU PHPRU\ FDUG LQWR WKH FDUG UHDGHU RI \RXUPXOWLIXQFWLRQ GLVSOD\ 2SHQ WKH &KDUW DSSOLFDWLRQ RQ \RXU PXOWLIXQFWLRQ GLVSOD\ 6HOHFW WKH QHZ FKDUW IURP WKH &KDUW VHOHFWLRQ PHQX 0HQX! 3UHVHQWDWLRQ ! &KDUW 6HOHFWLRQ7KH &KDUW VFUHHQ ZLOO EH UHGUDZQ WR GLVSOD\ WKH QHZO\ VHOHFWHGFKDUW W\SH1DYLRQLFV FKDUWV<RXU PXOWLIXQFWLRQ GLVSOD\ LV FRPSDWLEOH ZLWK 1DYLRQLFVFDUWRJUDSK\7KH IROORZLQJ 1DYLRQLFV FDUWRJUDSK\ W\SHV DUH DYDLODEOH IRU \RXUPXOWLIXQFWLRQ GLVSOD\ 5HDG\ WR 1DYLJDWH 6LOYHU *ROG *ROG 3ODWLQXP 3ODWLQXP )LVK1 &KLS +RWPDSV7R FKHFN WKH FXUUHQW DYDLODELOLW\ RI 1DYLRQLFV FKDUW FDUGV DQGW\SHV SOHDVH YLVLW ZZZQDYLRQLFVFRP RU ZZZQDYLRQLFVLW1RWH 5HIHU WR WKH 5D\PDULQH ZHEVLWH ZZZUD\PDULQHFRPIRU WKH ODWHVW OLVW RI VXSSRUWHG FDUWRJUDSK\1DYLRQLFV PRELOH PDULQH DSS<RX FDQ ZLUHOHVVO\ V\QFKURQL]H GDWD EHWZHHQ \RXU PXOWLIXQFWLRQGLVSOD\ 0)' DQG D PRELOH GHYLFH WKDW LV UXQQLQJ WKH 1DYLRQLFVPRELOH PDULQH DSS7KH V\QFKURQL]DWLRQ GRZQORDGV 1DYLRQLFV )UHVKHVW 'DWD IURP\RXU PRELOH GHYLFH WR \RXU 0)' DQG XSORDGV VRQDU ORJV IURP\RXU 0)' WR \RXU PRELOH GHYLFH :D\SRLQWV DQG URXWHV FDQ DOVREH V\QFKURQL]HG EHWZHHQ \RXU PRELOH GHYLFH DQG 0)'&KDUW DSSOLFDWLRQ 
 1DYLRQLFV VHUYHUV'RZQORDG 1DYLRQLFV )UHVKHVW 'DWD WR PRELOH GHYLFH LQWHUQHWFRQQHFWLRQ UHTXLUHG 0RELOH GHYLFH UXQQLQJ 1DYLRQLFV PRELOH DSS'RZQORDG 1DYLRQLFV )UHVKHVW 'DWD WR 0)' :L)L FRQQHFWLRQWR 0)' UHTXLUHG0)' 8SORDG 6RQDU /RJV DQG &RPPXQLW\ HGLWV WR PRELOH GHYLFH:L)L FRQQHFWLRQ WR 0)' UHTXLUHG 8SORDG 6RQDU /RJV DQG &RPPXQLW\ HGLWV DQRQ\PRXVO\ WR1DYLRQLFV VHUYHUV LQWHUQHW FRQQHFWLRQ UHTXLUHG1RWH 7R SDUWLFLSDWH LQ 1DYLRQLFV 6RQDU &KDUWV 6RQDU ORJJLQJPXVW EH HQDEOHG RQ \RXU 0)' 6RQDU /RJV FDQ EH HQDEOHGIURP WKH &KDUW DSSOLFDWLRQ PHQX 0HQX ! 'HSWK  &RQWRXU !6RQDU /RJV 7KH 6RQDU ORJV VKDOO EH XSORDGHG WR 1DYLRQLFV VHUYHUVDQRQ\PRXVO\7R XVH WKLV IHDWXUH \RX PXVW ¿UVW 'RZQORDG DQG LQVWDOO WKH 1DYLRQLFV 0RELOH 0DULQH DSSDYDLODEOH IURP WKH UHOHYDQW DSS VWRUH 6XEVFULEH WR 1DYLRQLFV )UHVKHVW 'DWD 'RZQORDG )UHVKHVW GDWD WR \RXU PRELOH GHYLFH (QDEOH :L)L LQ WKH 6\VWHP 6HWWLQJV RQ WKH 0)' (QDEOH :L)L RQ \RXU PRELOH GHYLFH 6HOHFW WKH 0)' :L)L FRQQHFWLRQ IURP WKH OLVW RI DYDLODEOH:L)L QHWZRUNV RQ \RXU PRELOH GHYLFH1DYLRQLFV )UHVKHVW 'DWD1DYLRQLFV RIIHU D  PRQWK VXEVFULSWLRQV WR WKHLU )UHVKHVW 'DWDVHUYLFH ZKLFK LQFOXGHV XSGDWHV WR QDXWLFDO FKDUWV VRQDU FKDUWVDQG FRPPXQLW\ HGLWV OD\HU1DXWLFDO FKDUWV ² 1DYLRQLFV ' FKDUWV6RQDU &KDUWV ² +LJK GH¿QLWLRQ EDWK\PHWU\ FKDUW OD\HU FUHDWHGE\ FRPELQLQJ PXOWLSOH GDWD VRXUFHV LQFOXGLQJ 6RQDU /RJVSURYLGHG E\ 1DYLRQLFV FRPPXQLW\ XVHUV&RPPXQLW\ (GLWV ² (GLWV PDGH E\ 1DYLRQLFV XVHUV7R REWDLQ )UHVKHVW 'DWD LQVHUW \RXU 1DYLRQLFV FKDUW FDUG LQWR\RXU 3& YLVLW WKH 1DYLRQLFV ZHEVLWH ZZZQDYLRQLFVFRP DQG&OLFN 'RZQORDGV  8SGDWHV 1DYLJDWLRQ RSWLRQV7KH FKDUW DSSOLFDWLRQ SURYLGHV IHDWXUHV WR KHOS QDYLJDWH WR DFKRVHQ ORFDWLRQ7KH QDYLJDWLRQ RSWLRQV DUH IRXQG LQ WKH 1DYLJDWH PHQX 0HQX !1DYLJDWH3LORW &RQWUROV ² $FFHVVHV WKH 3LORW &RQWURO 'LDORJ ZKHQ$XWRSLORW &RQWURO LV HQDEOHG*RWR &XUVRU ² :LOO VHW WKH FXUVRU SRVLWLRQ DV WKH DFWLYHGHVWLQDWLRQ*RWR :D\SRLQW ² 3URYLGHV RSWLRQV WR QDYLJDWH WR D ZD\SRLQWVWRUHG RQ WKH V\VWHP6WRS *RWR ² 6WRSV WKH *RWR &XUVRU RU *RWR :D\SRLQW6WRS )ROORZ ² 6WRSV IROORZLQJ WKH FXUUHQW URXWH5HVWDUW ;7( ² 5HVWDUWV WKH &URVV 7UDFN (UURU$GYDQFH :D\SRLQW ² :KHQ IROORZLQJ D URXWH VNLSV WR WKHQH[W ZD\SRLQW LQ WKH URXWH)ROORZ 5RXWH ² 3URYLGHV RSWLRQV WR QDYLJDWH WR D URXWHVWRUHG RQ WKH V\VWHP6WDUW 7UDFN  6WRS 7UDFN ² :LOO LQLWLDWH D WUDFN RQ VFUHHQWR SORW \RXU FRXUVH DV \RX SURJUHVV RU VWRS D WUDFN WKDW LVFXUUHQWO\ EHLQJ FUHDWHG%XLOG 5RXWH ² 3URYLGHV RSWLRQV WR EXLOG D URXWH5HIHU WR &KDSWHU  :D\SRLQWV 5RXWHV DQG 7UDFNV IRU GHWDLOVRQ FUHDWLQJ ZD\SRLQWV URXWHV DQG WUDFNV1DYLJDWLRQ1DYLJDWLQJ WR D ZD\SRLQW RQ WKH VFUHHQ)URP WKH FKDUW RU UDGDU DSSOLFDWLRQ 6HOHFW WKH ZD\SRLQW7KH ZD\SRLQW FRQWH[W PHQX LV GLVSOD\HG 6HOHFW WKH *RWR :D\SRLQW1RWH :LWK DQ DFWLYH ZD\SRLQW VHOHFWHG \RX FDQ VHOHFW 6WRS*RWR RSWLRQ IURP WKH ZD\SRLQW FRQWH[W PHQX DW DQ\ WLPH WRFDQFHO WKH DFWLRQ1DYLJDWLQJ WR D ZD\SRLQW XVLQJ WKH ZD\SRLQWV JURXS OLVW)URP WKH &KDUW DSSOLFDWLRQ 6HOHFW :377KH ZD\SRLQW PHQX LV GLVSOD\HG 6HOHFW :D\SRLQWV7KH ZD\SRLQWV JURXS OLVW LV GLVSOD\HG %URZVH WKH JURXS OLVW IRU WKH UHOHYDQW ZD\SRLQW 6HOHFW WKH ZD\SRLQW7KH ZD\SRLQW RSWLRQV GLDORJ LV GLVSOD\HG 6HOHFW *RWR1DYLJDWLQJ WR D ORFDWLRQ RQ WKH FKDUW)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW WKH UHTXLUHG ORFDWLRQ RQVFUHHQ7KH FKDUW FRQWH[W PHQX LV GLVSOD\HG 6HOHFW *RWR &XUVRU D 6HULHV  F 6HULHV  H 6HULHV
1DYLJDWLQJ WR WKH FXUVRU SRVLWLRQ RQ WKH FKDUW XVLQJ WKHPHQX)URP WKH FKDUW DSSOLFDWLRQ 3RVLWLRQ WKH FXUVRU DW WKH GHVLUHG GHVWLQDWLRQ RQ WKH FKDUW 6HOHFW 0HQX 6HOHFW 1DYLJDWH 6HOHFW *RWR &XUVRU&DQFHOOLQJ QDYLJDWLRQ WR D ZD\SRLQW 6HOHFW DQ\ SRVLWLRQ DQ\ZKHUH RQVFUHHQ7KH ZD\SRLQW FRQWH[W PHQX LV GLVSOD\HG 6HOHFW 6WRS *RWR $OWHUQDWLYHO\ LQ WKH FKDUW DSSOLFDWLRQ JR WR 0HQX ! 1DYLJDWH! 6WRS *RWR1RWH 2QFH QDYLJDWLRQ LV QR ORQJHU DFWLYH WKH ZD\SRLQWV\PERO UHWXUQV WR LWV QRUPDO VWDWH DQG WKH GDVKHG OLQHEHWZHHQ \RXU YHVVHO DQG WKH ZD\SRLQW LV UHPRYHG$UULYLQJ DW D ZD\SRLQW$V \RXU YHVVHO DSSURDFKHV D ZD\SRLQW WKH ZD\SRLQW DUULYDODODUP SURYLGHV D ZDUQLQJ 6HOHFW 2N RQ WKH ZD\SRLQW DUULYDO DODUP SRS XS PHVVDJH2QFH WKH DODUP LV DFNQRZOHGJHG WKH QH[W ZD\SRLQW LV VHOHFWHGDQG WKH GLVSOD\ XSGDWHV WR LQGLFDWH WKH QH[W OHJ RI WKH URXWH1RWH <RX FDQ VHW WKH DSSURDFK GLVWDQFH UDGLXV DW ZKLFK WKHZD\SRLQW DUULYDO DODUP ZLOO VRXQG XVLQJ WKH $ODUPV PHQX IURPWKH KRPHVFUHHQ 6HWXS ! $ODUPV ! :D\SRLQW $UULYDO&URVV 7UDFN (UURU ;7(&URVV 7UDFN (UURU ;7( LV WKH DPRXQW RI GHYLDWLRQ IURP \RXULQWHQGHG URXWH RU ZD\SRLQW H[SUHVVHG DV D GLVWDQFH,Q WKH HYHQW WKDW \RX VWHHU RIIWUDFN \RX FDQ JR VWUDLJKW WR \RXUWDUJHW E\ UHVHWWLQJ ;7(5HVHWWLQJ &URVV 7UDFN (UURU ;7(:KLOH IROORZLQJ D URXWH LQ WKH FKDUW DSSOLFDWLRQ 6HOHFW WKH URXWH7KH URXWH FRQWH[W PHQX LV GLVSOD\HG 6HOHFW 5HVWDUW ;7(5HVHWWLQJ ;7( UHVXOWV LQ D QHZ FRXUVH IURP WKH FXUUHQW YHVVHOSRVLWLRQ WR WKH FXUUHQW WDUJHW ZD\SRLQW 7KLV GRHV QRW DIIHFW\RXU VDYHG URXWH<RX FDQ DOVR UHVHW WKH ;7( IURP WKH 1DYLJDWH 0HQX 0HQX !1DYLJDWH ! 5HVWDUW ;7(1DYLJDWLQJ D URXWH<RX FDQ IROORZ DQ\ URXWH VWRUHG RQ WKH GLVSOD\ :KHQ IROORZLQJD URXWH \RX YLVLW HDFK ZD\SRLQW LQ RUGHU <RX PD\ DOVR XVH WKHIROORZ URXWH RSWLRQV LQ FRQMXQFWLRQ ZLWK D FRPSDWLEOH DXWRSLORW WRDXWRPDWLFDOO\ QDYLJDWH DORQJ \RXU FKRVHQ URXWH7KHUH DUH D QXPEHU RI ZD\V WR VHOHFW WKH IROORZ URXWH RSWLRQ 8VLQJ D VWRUHG URXWH ZLWKLQ WKH URXWH OLVW )URP D VHOHFWHG ZD\SRLQW RU DQ\ OHJ ZLWKLQ D URXWH<RX FDQ DOVR IROORZ DQ\ URXWH LQ UHYHUVH RUGHU)ROORZLQJ D VWRUHG URXWH)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 1DYLJDWH 6HOHFW )ROORZ 5RXWH7KH 5RXWH OLVW LV GLVSOD\HG 6HOHFW WKH URXWH \RX ZDQW WR IROORZ 6HOHFW )ROORZ 5RXWH RU 6HOHFW )ROORZ 5RXWH LQ 5HYHUVH WR IROORZ WKH URXWH LQUHYHUVH RUGHU&DQFHOOLQJ QDYLJDWLRQ RI D URXWH)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW WKH 5RXWH7KH URXWH FRQWH[W PHQX LV GLVSOD\HG 6HOHFW 6WRS )ROORZ$GYDQFLQJ WR WKH QH[W ZD\SRLQW LQ D URXWH<RX FDQ VNLS WKH FXUUHQW DFWLYH ZD\SRLQW DQG DGYDQFH WR WKHQH[W ZD\SRLQW LQ D URXWH DW DQ\ WLPH:KLOH IROORZLQJ D URXWH LQ WKH FKDUW DSSOLFDWLRQ 6HOHFW WKH URXWH7KH URXWH FRQWH[W PHQX LV GLVSOD\HG 6HOHFW $GYDQFH :D\SRLQW1RWH ,I WKH FXUUHQW GHVWLQDWLRQ LV WKH ODVW ZD\SRLQW WKH FKDUWDGYDQFHV RQ WR WKH ¿UVW ZD\SRLQW LQ WKH URXWH&KDUW DSSOLFDWLRQ 
 &KDUW UDQJLQJ DQG SDQQLQJ5DQJLQJ LQ DQG RXW7KH WDEOH EHORZ VKRZV WKH 5DQJH FRQWUROV DYDLODEOH IRU HDFKGLVSOD\ YDULDQW5RWDU\ &RQWURO  F 6HULHV H 6HULHV 50. NH\SDG5DQJH LQ DQG 5DQJHRXW EXWWRQV F 6HULHV H 6HULHV H[FOXGLQJH DQG H' 50. NH\SDG5DQJH LQ DQG 5DQJHRXW RQVFUHHQ LFRQV D 6HULHV H 6HULHV J6 6HULHV1RWH H 6HULHVDQG J6 6HULHVRQVFUHHQ UDQJHFRQWUROV FDQ EHHQDEOHG DQGGLVDEOHG IURPWKH +RPHVFUHHQ&XVWRPL]H! 'LVSOD\3UHIHUHQFHV !5DQJH &RQWUROV0XOWL7RXFK JHVWXUH ²3LQFK WR =RRP D 6HULHV J6 6HULHV3DQQLQJ WKH FKDUW<RX FDQ SDQ WKH FKDUW DUHD RQ D WRXFKVFUHHQ PXOWLIXQFWLRQGLVSOD\ E\ IROORZLQJ WKH VWHSV EHORZ,Q WKH FKDUW DSSOLFDWLRQ 6ZLSH \RXU ¿QJHU DFURVV WKH VFUHHQ IURP ULJKW WR OHIW WR SDQULJKW 6ZLSH \RXU ¿QJHU DFURVV WKH VFUHHQ IURP OHIW WR ULJKW WR SDQOHIW 6ZLSH \RXU ¿QJHU DFURVV WKH VFUHHQ IURP WRS WR ERWWRP WRSDQ XS 6ZLSH \RXU ¿QJHU DFURVV WKH VFUHHQ IURP ERWWRP WR WRS WRSDQ GRZQ3DQQLQJ WKH FKDUW<RX FDQ SDQ WKH FKDUW DUHD RQ D QRQWRXFKVFUHHQ PXOWLIXQFWLRQGLVSOD\ E\ IROORZLQJ WKH VWHSV EHORZ)URP WKH FKDUW DSSOLFDWLRQ 0RYH WKH -R\VWLFN LQ WKH GLUHFWLRQ \RX ZDQW WR SDQ &KDUW VHOHFWLRQ<RX FDQ VHOHFW WKH FDUWRJUDSK\ W\SH WR EH XVHG LQ WKH &KDUWDSSOLFDWLRQ 7KH &KDUW VHOHFWLRQ DSSOLHV WR WKH DFWLYH &KDUWLQVWDQFH <RX PXVW KDYH WKH QHFHVVDU\ FDUWRJUDSK\ FKDUWFDUGV LQVHUWHG LQWR \RXU PXOWLIXQFWLRQ GLVSOD\ LQ RUGHU WR GLVSOD\GLIIHUHQW FDUWRJUDSK\ W\SH6HOHFWLQJ D FDUWRJUDSK\ W\SH<RX FDQ VHOHFW WKH FDUWRJUDSK\ W\SH \RX ZDQW WR GLVSOD\ LQ WKH&KDUW DSSOLFDWLRQ(QVXUH \RX KDYH LQVHUWHG WKH FKDUW FDUG WKDW FRQWDLQV WKHFDUWRJUDSK\ W\SH \RX ZDQW WR GLVSOD\)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW &KDUW 6HOHFWLRQ$ OLVW RI DYDLODEOH FDUWRJUDSK\ LV GLVSOD\HG 6HOHFW WKH FDUWRJUDSK\ W\SH \RX ZDQW WR GLVSOD\7KH &KDUW ZLQGRZ LV UHGUDZQ WR VKRZ WKH VHOHFW FDUWRJUDSK\W\SH D 6HULHV  F 6HULHV  H 6HULHV
 9HVVHO SRVLWLRQ RQ WKH FKDUWGLVSOD\<RXU FXUUHQW SRVLWLRQ LV UHSUHVHQWHG RQVFUHHQ E\ WKH YHVVHOV\PERO7KH YHVVHO V\PEROV DUH RQO\ GLVSOD\HG ZKHQ KHDGLQJ RU &2*GDWD LV DYDLODEOH7KH YHVVHO V\PERO YDULHV GHSHQGLQJ RQ VHOHFWHG VHWWLQJV DQGWKH DYDLODELOLW\ RI KHDGLQJ GDWD0RWRU 9HVVHO 7KH PRWRU YHVVHO V\PERO LV XVHGZKHQ WKH YHVVHO W\SH VHOHFWHGGXULQJ WKH LQLWLDO VHW XS ZL]DUG LVD PRWRU YHVVHO6DLO 9HVVHO 7KH VDLO YHVVHO V\PERO LV XVHGZKHQ WKH YHVVHO W\SH VHOHFWHGGXULQJ WKH LQLWLDO VHW XS ZL]DUG LVD VDLO YHVVHO6PDOO 9HVVHO 7KH VPDOO YHVVHO V\PERO LV XVHGZKHQ WKH %RDW 6L]H VHWWLQJ LVVHW WR 6PDOO%ODFN GRW $ EODFN GRW LV GLVSOD\HG ZKHQKHDGLQJ DQG &2* GDWD LV QRWDYDLODEOH9HVVHO SRVLWLRQ GDWD FDQ DOVR EH VKRZQ LQ WKH GDWDEDU/RFDWLQJ \RXU YHVVHO7KH YHVVHO LFRQ FDQ EH UHSRVLWLRQHG WR WKH FHQWHU RI WKH VFUHHQE\ IROORZLQJ WKH VWHSV EHORZ 6HOHFW WKH )LQG 6KLS LFRQ ORFDWHG RQ WKH OHIW KDQGVLGH RI WKH VFUHHQ/RFDWLQJ \RXU YHVVHO7KH YHVVHO LFRQ FDQ EH UHSRVLWLRQHG WR WKH FHQWHU RI WKH VFUHHQE\ IROORZLQJ WKH VWHSV EHORZ 6HOHFW 0HQX 6HOHFW )LQG 6KLS &KDUW RULHQWDWLRQ7KH RULHQWDWLRQ RI D FKDUW UHIHUV WR WKH UHODWLRQVKLS EHWZHHQ WKHFKDUW DQG WKH GLUHFWLRQ WKDW \RX DUH WUDYHOOLQJ LQ,W LV XVHG LQ FRQMXQFWLRQ ZLWK PRWLRQ PRGH WR FRQWURO KRZ\RXU YHVVHO DQG FKDUW UHODWH WR RQH DQRWKHU DQG KRZ WKH\ DUHGLVSOD\HG RQ VFUHHQ7KH PRGH \RX FKRRVH DSSOLHV WR WKH DFWLYH FKDUW LQVWDQFH DQGLV UHVWRUHG DW SRZHU XS7KH IROORZLQJ RSWLRQV DUH DYDLODEOH1RUWK±8S,Q 1RUWK 8S PRGH WKH FKDUW RULHQWDWLRQ LV ¿[HG ZLWK WUXH QRUWKXSZDUGV $V \RXU KHDGLQJ FKDQJHV WKH YHVVHO V\PERO PRYHVDFFRUGLQJO\ 7KLV LV WKH GHIDXOW PRGH IRU WKH FKDUW DSSOLFDWLRQ+HDG8S+HDG 8S PRGH GLVSOD\V WKH FKDUW ZLWK \RXU YHVVHO¶V FXUUHQWKHDGLQJ XSZDUGV $V WKH KHDGLQJ FKDQJHV WKH YHVVHO V\PEROUHPDLQV ¿[HG DQG WKH FKDUW SLFWXUH URWDWHV DFFRUGLQJO\1RWH 7R SUHYHQW FRQWLQXRXV EDFNZDUGV DQG IRUZDUGVURWDWLRQV DV WKH YHVVHO \DZV IURP VLGHWRVLGH WKH FKDUW ZLOOQRW XSGDWH XQOHVV WKH KHDGLQJ FKDQJHV E\ DW OHDVW  GHJUHHVIURP WKH ODVW GLVSOD\HG RULHQWDWLRQ1RWH ,W LV QRW SRVVLEOH WR VHOHFW +HDG 8S ZKHQ WKH PRWLRQPRGH LV VHW WR 7UXH&RXUVH8S,Q &RXUVH 8S PRGH WKH FKDUW SLFWXUH LV VWDELOL]HG DQG VKRZQZLWK \RXU FXUUHQW FRXUVH XSZDUGV $V \RXU YHVVHO¶V KHDGLQJFKDQJHV WKH VKLS V\PERO PRYHV DFFRUGLQJO\ ,I \RX VHOHFW DQHZ FRXUVH WKH SLFWXUH ZLOO UHVHW WR GLVSOD\ WKH QHZ FRXUVHXSZDUGV 7KH UHIHUHQFH XVHG IRU &RXUVH 8S GHSHQGV XSRQWKH LQIRUPDWLRQ DYDLODEOH DW D JLYHQ WLPH 7KH V\VWHP DOZD\VSULRULWL]HV WKLV LQIRUPDWLRQ LQ WKH IROORZLQJ RUGHU %HDULQJ IURP RULJLQ WR GHVWLQDWLRQ LH LQWHQGHG FRXUVH /RFNHG KHDGLQJ IURP DQ $XWRSLORW&KDUW DSSOLFDWLRQ 
 %HDULQJ WR ZD\SRLQW ,QVWDQWDQHRXV KHDGLQJ,I KHDGLQJ GDWD EHFRPHV XQDYDLODEOH ZKLOVW LQ WKLV PRGH DZDUQLQJ SRS XS PHVVDJH LV GLVSOD\HG DQG WKH FKDUW XVHV KHDGLQJ LQ UHODWLYH PRWLRQ6HWWLQJ WKH FKDUW RULHQWDWLRQ)URP WKH FKDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 9LHZ  0RWLRQ 6HOHFW &KDUW 2ULHQWDWLRQ 6HOHFW +HDG 8S 1RUWK 8S RU &RXUVH 8S RSWLRQ DVDSSURSULDWH2QFH VHOHFWHG WKH VFUHHQ ZLOO XSGDWH WR UHÀHFW WKH QHZRULHQWDWLRQ &KDUW PRWLRQ PRGH7KH PRWLRQ PRGH FRQWUROV WKH UHODWLRQVKLS EHWZHHQ WKH FKDUWDQG \RXU YHVVHO:KLOVW PRWLRQ PRGH LV DFWLYH DV \RXU YHVVHO PRYHV WKH FKDUW LVUHGUDZQ WR NHHS WKH YHVVHO RQVFUHHQ 7KH  PRWLRQ PRGHV DUH5HODWLYH 0RWLRQ GHIDXOW7UXH 0RWLRQ$XWR 5DQJH1RWH ,Q WKH ' FKDUW YLHZ RQO\ 5HODWLYH 0RWLRQ PRGH LVDYDLODEOH7KH FXUUHQW PRWLRQ PRGH DSSOLHV WR WKH DFWLYH LQVWDQFH RI WKHFKDUW DSSOLFDWLRQ:KHQ \RX SDQ WKH FKDUW WKH PRWLRQ PRGH LV QR ORQJHU DFWLYH7KLV LV LQGLFDWHG LQ WKH VWDWXV EDU E\ EUDFNHWV DURXQG WKH PRWLRQPRGH ² IRU H[DPSOH 5HODWLYH 0RWLRQ 7KLV HQDEOHV \RX WRYLHZ DQRWKHU DUHD RI WKH FKDUW ZKLOVW QDYLJDWLQJ 7R UHVHW WKHPRWLRQ PRGH DQG UHWXUQ \RXU YHVVHO WR WKH VFUHHQ VHOHFW WKH)LQG 6KLS LFRQ RU VHOHFW )LQG 6KLS IURP WKH PHQX 0DQXDOO\FKDQJLQJ WKH UDQJH RU SDQQLQJ WKH FKDUW LQ DXWR UDQJH DOVRVXVSHQGV PRWLRQ PRGH 7KH GHIDXOW VHWWLQJ LV UHODWLYH PRWLRQZLWK WKH ERDW LFRQ SRVLWLRQHG LQ WKH FHQWHU RI WKH VFUHHQ 7KHPRGH WKDW \RX VHOHFW LV UHVWRUHG DW SRZHU XS%RDW SRVLWLRQV 5HODWLYH 0RWLRQ RQO\3RVLWLRQ ([DPSOH&HQWHU3DUWLDO2IIVHW)XOO 2IIVHW:KHQ WKH PRWLRQ PRGH LV VHW WR 5HODWLYH 0RWLRQ WKH SRVLWLRQRI \RXU YHVVHO LV ¿[HG RQVFUHHQ DQG WKH FKDUW SLFWXUH PRYHVUHODWLYH WR \RXU YHVVHO <RX FDQ XVH WKH 0HQX ! 3UHVHQWDWLRQ! 9LHZ  0RWLRQ ! %RDW 3RVLWLRQ PHQX RSWLRQV WR GHWHUPLQHZKHWKHU WKH YHVVHO LV ¿[HG LQ WKH FHQWHU RI WKH ZLQGRZ RU RIIVHW,I \RX FKDQJH WKH SRVLWLRQ WR 3DUWLDO 2IIVHW RU )XOO 2IIVHW WKHYLHZ DKHDG RI \RXU YHVVHO ZLOO EH LQFUHDVHG D 6HULHV  F 6HULHV  H 6HULHV
7UXH 0RWLRQ:KHQ WKH PRWLRQ PRGH LV VHW WR 7UXH 0RWLRQ WKH FKDUW LV ¿[HGDQG WKH YHVVHO PRYHV LQ WUXH SHUVSHFWLYH WR ¿[HG ODQGPDVVHVRQVFUHHQ $V WKH YHVVHO¶V SRVLWLRQ DSSURDFKHV WKH HGJH RI WKHVFUHHQ WKH FKDUW SLFWXUH LV DXWRPDWLFDOO\ UHVHW WR UHYHDO WKH DUHDDKHDG RI WKH YHVVHO1RWH ,W LV QRW SRVVLEOH WR VHOHFW 7UXH 0RWLRQ ZKHQ WKHRULHQWDWLRQ LV VHW WR +HDG 8S$XWR 5DQJH$XWR 5DQJH VHOHFWV DQG PDLQWDLQV WKH ODUJHVW SRVVLEOH VFDOH RIFKDUW WKDW ZLOO GLVSOD\ ERWK WKH YHVVHO DQG WKH WDUJHW ZD\SRLQW$XWR UDQJH LV QRW DYDLODEOH LI UDGDUFKDUW V\QFKURQL]DWLRQ LV RQ6HWWLQJ WKH PRWLRQ PRGH7R FKDQJH WKH PRWLRQ PRGH IROORZ WKH VWHSV EHORZ)URP WKH FKDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 9LHZ  0RWLRQ 6HOHFW 0RWLRQ 0RGH 6HOHFW 7UXH 0RWLRQ 5HODWLYH 0RWLRQ RU $XWR 5DQJH RSWLRQDV DSSURSULDWH2QFH VHOHFWHG WKH VFUHHQ ZLOO XSGDWH WR UHÀHFW WKH QHZ PRGH&KDQJLQJ WKH SRVLWLRQ RI WKH ERDW LFRQ)URP WKH FKDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 9LHZ  0RWLRQ 6HOHFW %RDW 3RVLWLRQ 6HOHFW &HQWHU3DUWLDO 2IIVHW RU )XOO 2IIVHW DV DSSURSULDWH &KDUW YLHZV,I VXSSRUWHG E\ \RXU FDUWRJUDSK\ W\SH WKH &KDUW DSSOLFDWLRQ FDQEH VHW WR HLWKHU ' RU ' YLHZ6HOHFWLQJ ' DQG ' FKDUW YLHZV<RX FDQ VZLWFK EHWZHHQ ' DQG ' YLHZV LQ WKH FKDUW DSSOLFDWLRQLI VXSSRUWHG E\ \RXU FDUWRJUDSK\)URP WKH FKDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ  6HOHFW 9LHZ  0RWLRQ 6HOHFW &KDUW 9LHZ WR VHOHFW ' RU '' FKDUW YLHZ7KH ' FKDUW YLHZ FDQ GLVSOD\ D UDQJH RI LQIRUPDWLRQ WR KHOS\RX QDYLJDWH,WHP 'HVFULSWLRQ5DQJH ² KRUL]RQWDO FKDUW VFDOH LQGLFDWRU VKRZQ LQ VHOHFWHGV\VWHP XQLWV:D\SRLQW ² LQDFWLYH2ULHQWDWLRQ ² VWDWHV WKH RULHQWDWLRQ PRGH WKDW WKH FKDUW LVXVLQJ 1RUWKXS +HDGXS RU &RXUVHXS9HVVHO V\PERO² VKRZV \RXU FXUUHQW SRVLWLRQ1DYLJDWLRQ RULJLQ OLQH ² GXULQJ QDYLJDWLRQ VKRZV D VROLGOLQH IURP WKH VWDUWLQJ SRLQW WR WKH WDUJHW ZD\SRLQW 7KH VWDUWLQJSRLQW FDQ EH WKH YHVVHO¶V RULJLQDO ORFDWLRQ WKH SRLQW RI ;7(UHVHW RU WKH SRLQW WKH FXUUHQW OHJ RI D URXWH ZDV LQLWLDWHG0RWLRQ PRGH ² VWDWHV WKH FXUUHQW PRWLRQ PRGH 5HODWLYH7UXH RU $XWR 5DQJH&KDUW W\SH ² LQGLFDWHV WKH W\SH RI FKDUW LQ XVH ² )LVK RU1DYLJDWLRQ)LQG VKLS LFRQ ² XVHG WR ¿QG DQG FHQWHU \RXU YHVVHO RQWKH FKDUW9HVVHO SRVLWLRQ OLQH ² GXULQJ QDYLJDWLRQ VKRZV D GRWWHG OLQHIURP WKH YHVVHO¶V FXUUHQW SRVLWLRQ WR WKH WDUJHW ZD\SRLQW &XUVRU ² XVHG WR VHOHFW FKDUW REMHFWV DQG PRYH DURXQG WKHFKDUW DUHD 7DUJHW ZD\SRLQW ² FXUUHQW WDUJHW ZD\SRLQW 'DWDER[HV ² XVHG WR GLVSOD\ GDWD VXFK DV GHSWK RQ WKH FKDUWVFUHHQ $,6 WDUJHW ² D YHVVHO EURDGFDVWLQJ $,6 LQIRUPDWLRQ RSWLRQDO 5DQJH RXW ² VHOHFW LFRQ WR UDQJH RXW 7RXFKVFUHHQ GLVSOD\VRQO\ 5DQJH LQ ² VHOHFW LFRQ WR UDQJH LQ 7RXFKVFUHHQ GLVSOD\VRQO\ &DUWRJUDSKLF REMHFWV ² OHYHO RI FDUWRJUDSKLF REMHFWV LVGHWHUPLQHG E\ WKH FDUWRJUDSK\ W\SH&KDUW DSSOLFDWLRQ 
' FKDUW YLHZ7KH ' YLHZ FDQ GLVSOD\ D UDQJH RI LQIRUPDWLRQ WR KHOS \RXQDYLJDWH,WHP 'HVFULSWLRQ5DQJH ² KRUL]RQWDO FKDUW VFDOH LQGLFDWRU VKRZQ LQVHOHFWHG V\VWHP XQLWV'HSWK 6FDOH ² DSSUR[LPDWH GHSWK EHQHDWK \RXU YHVVHORSWLRQDO:D\SRLQW ² RSWLRQDO&HQWHURIYLHZ ² WKH ZKLWH FURVV LQGLFDWHV WKH FHQWHU RIFKDUW YLHZ DW WKH ZDWHU OHYHO RSWLRQDO2ULHQWDWLRQ ² VWDWHV WKH RULHQWDWLRQ PRGH WKDW WKH FKDUWLV XVLQJ&DUWRJUDSKLF REMHFWV ² XVH WKH &DUWRJUDSK\ 6HWXSPHQX WR FKRRVH ZKLFK REMHFWV WR GLVSOD\5RWDWLRQ ² VKRZV LQ GHJUHHV WUXH KRZ IDU WKH RQVFUHHQYLHZ KDV EHHQ URWDWHG IURP \RXU YHVVHOV KHDGLQJ DQGWKH WLOW DQJOH RI \RXU YHVVHO1RUWK DUURZ ± ' LQGLFDWLRQ RI 7UXH 1RUWK LQ UHODWLRQ WRWKH FKDUW YLHZ 7KH QRUWK DUURZ DOVR WLOWV WR LQGLFDWH SLWFKDQJOH&KDUW W\SH ² LQGLFDWHV WKH W\SH RI FKDUW LQ XVH ² )LVKRU 1DYLJDWLRQ )LQG VKLS LFRQ ² XVHG WR ¿QG DQG FHQWHU \RXU YHVVHORQ WKH FKDUW 9HVVHO V\PERO ² \RXU YHVVHOV FXUUHQW SRVLWLRQ 'DWD RYHUOD\ ² XVHG WR GLVSOD\ GDWD VXFK DV GHSWK RQWKH FKDUW VFUHHQ 5DQJH RXW ² XVH LFRQ WR UDQJH RXW 7RXFKVFUHHQGLVSOD\V RQO\ 5DQJH LQ ² XVH LFRQ WR UDQJH LQ 7RXFKVFUHHQ GLVSOD\VRQO\0DQLSXODWLQJ WKH ' FKDUW YLHZ)URP WKH FKDUW DSSOLFDWLRQ :LWK WKH FKDUW LQ ' PRGH JR WR WKH $GMXVW 9LHZLQJ $QJOHPHQX 0HQX ! $GMXVW 9LHZLQJ $QJOH 6HOHFW $GMXVW VR WKDW 3LWFK DQG URWDWH LV KLJKOLJKWHG 7R DGMXVW WKH SLWFKL 1RQWRXFKVFUHHQ RU +\EULG7RXFK GLVSOD\V ² 0RYH WKH-R\VWLFN 8S RU 'RZQ WR DGMXVW WKH SLWFKLL +\EULG7RXFK RU 7RXFK RQO\ GLVSOD\V ² 6ZLSH \RXU ¿QJHUXS RU GRZQ DFURVV WKH VFUHHQ WR DGMXVW WKH SLWFK 7R DGMXVW WKH URWDWLRQL 1RQWRXFKVFUHHQ RU +\EULG7RXFK GLVSOD\V ² 0RYH WKH-R\VWLFN /HIW RU 5LJKW WR DGMXVW WKH URWDWLRQLL +\EULG7RXFK RU 7RXFK RQO\ GLVSOD\V ² 6ZLSH \RXU ¿QJHUOHIW RU ULJKW DFURVV WKH VFUHHQ WR DGMXVW WKH URWDWLRQ' 'LVSOD\ 2SWLRQV7KH IROORZLQJ RSWLRQV DUH DYDLODEOH ZLWK WKH &KDUW DSSOLFDWLRQLQ ' YLHZ&HQWHU 2I 9LHZ ² 6ZLWFKHV D FURVV KDLU RQ DQG RII DW WKHFHQWHU RI WKH VFUHHQ DW VHD OHYHO([DJJHUDWLRQ ² $GMXVWLQJ WKH H[DJJHUDWLRQ KDV WKH HIIHFW RIYHUWLFDOO\ VWUHWFKLQJ REMHFWV RQ WKH FKDUW PDNLQJ LW HDVLHU WRVHH WKHLU VKDSH DQG SRVLWLRQ7UDQVGXFHU &RQH ² 6ZLWFKHV RQ DQG RII D WUDQVGXFHU FRQHLQGLFDWLQJ WKH FRYHUDJH RI D ¿VK¿QGHU WUDQVGXFHU'HSWK 6FDOH ² 6ZLWFKHV RQ DQG RII D GHSWK VFDOH DW \RXUYHVVHO SRVLWLRQ(QDEOLQJ FHQWHU RI YLHZ,Q ' YLHZ WR HQDEOH WKH FHQWHU RI YLHZ FURVV KDLU DW VHD OHYHOIROORZ WKH VWHSV EHORZ)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 9LHZ  0RWLRQ 6HOHFW ' 'LVSOD\ 2SWLRQV 6HOHFW &HQWHU RI 9LHZ VR WKDW 2Q LV KLJKOLJKWHG6HOHFWLQJ FHQWUH RI YLHZ ZLOO VZLWFK WKH FURVV KDLU RQ DQG RII$GMXVWLQJ WKH ' H[DJJHUDWLRQ,Q WKH ' FKDUW YLHZ)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 9LHZ  0RWLRQ 6HOHFW ' 'LVSOD\ 2SWLRQV 6HOHFW ([DJJHUDWLRQ7KH ([DJJHUDWLRQ QXPHULF DGMXVW FRQWURO LV GLVSOD\HG $GMXVW WKH QXPHULF DGMXVW FRQWURO WR WKH UHTXLUHG VHWWLQJEHWZHHQ  DQG  6HOHFW 2N RU %DFN WR FRQ¿UP WKH VHWWLQJ DQG FORVH WKHQXPHULF DGMXVW FRQWURO(QDEOLQJ WUDQVGXFHU FRQH,Q ' YLHZ WR HQDEOH WKH WUDQVGXFHU FRQH ZKLFK LQGLFDWHV WKHFRYHUDJH RI \RXU ¿VK¿QGHU WUDQVGXFHU IROORZ WKH VWHSV EHORZ)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ D 6HULHV  F 6HULHV  H 6HULHV
 6HOHFW 9LHZ  0RWLRQ 6HOHFW ' 'LVSOD\ 2SWLRQV 6HOHFW 7UDQVGXFHU &RQH VR WKDW 2Q LV KLJKOLJKWHG6HOHFWLQJ 7UDQVGXFHU FRQH ZLOO VZLWFK WKH IXQFWLRQ RQ DQG RII(QDEOLQJ GHSWK VFDOH,Q ' YLHZ WR HQDEOH D GHSWK LQGLFDWRU DW \RXU YHVVHO¶V ORFDWLRQIROORZ WKH VWHSV EHORZ)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 9LHZ  0RWLRQ 6HOHFW ' 'LVSOD\ 2SWLRQV 6HOHFW 'HSWK 6FDOH VR WKDW 2Q LV KLJKOLJKWHG6HOHFWLQJ GHSWK VFDOH ZLOO VZLWFK GHSWK LQGLFDWRU RQ DQG RII &KDUW GLVSOD\7KH &KDUW 'LVSOD\ PHQX RSWLRQ GHWHUPLQHV WKH OHYHO RI GHWDLOWKDW LV GLVSOD\HG RQVFUHHQ7KH &KDUW GLVSOD\ PHQX RSWLRQ LV RQO\ DYDLODEOH ZKHQ XVLQJYHFWRU EDVHG FDUWRJUDSK\7KH &KDUW GLVSOD\ RSWLRQV DUH VKRZQ EHORZ6LPSOH'HWDLOHG([WUD 'HWDLOHG7KH OHYHO RI GHWDLO VKRZQ RQVFUHHQ LV DOVR DIIHFWHG E\ WKHFDUWRJUDSK\ &KDUW GHWDLO VHWWLQJV 5HIHU WR &KDUW GHWDLO IRULQIRUPDWLRQ&KDQJLQJ WKH FKDUW GLVSOD\ GHWDLO)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW &KDUW 'HWDLO7KH IROORZLQJ RSWLRQV DUH DYDLODEOH 6LPSOH 'HWDLOHG ([WUD 'HWDLOHG 6HOHFW WKH UHTXLUHG RSWLRQ&KDUW DSSOLFDWLRQ 
 2YHUOD\V7KH FKDUW KDV D QXPEHU RI RYHUOD\V WKDW GLVSOD\ GLIIHUHQW YLHZVDQG LQIRUPDWLRQ 7KH RYHUOD\V UHTXLUH HOHFWURQLF FKDUWV ZLWK WKHDSSURSULDWH IHDWXUH VXSSRUW DQG PD\ DOVR UHTXLUH DGGLWLRQDOKDUGZDUH DQG VHUYLFH VXEVFULSWLRQV<RX FDQ RYHUOD\ WKH IROORZLQJ GDWD RQWR D ' FKDUW WR JLYHJUHDWHU GHSWK RI LQIRUPDWLRQ 7KH RYHUOD\V DYDLODEOH DUH  $,6 ² 9LHZ DQG WUDFN $,6 WDUJHWV 7KLV RYHUOD\ LV QRWDYDLODEOH LQ ' YLHZ  5DGDU ² 2YHUOD\ UDGDU RQWR WKH FKDUW 7KLV RYHUOD\ LV QRWDYDLODEOH LQ ' YLHZ  $HULDO ² 3URYLGHV DQ DHULDO  VDWHOOLWH SKRWRJUDSK\ RYHUOD\  $HULDO 2YHUOD\ ² 'HWHUPLQHV WKH FRYHUDJH RI WKH DHULDORYHUOD\  12:5DG ² 3URYLGHV WKH 12:5DG ZHDWKHU UDGDU RYHUOD\7KLV RYHUOD\ LV QRW DYDLODEOH LQ ' YLHZ'DWDER[HV ² 6HOHFW ZKHWKHU GDWDER[HV DUH GLVSOD\HGRQVFUHHQ DQG ZKDW GDWD LV GLVSOD\HG&KDUW *ULG ² 'HWHUPLQHV ZKHWKHU JULG OLQHV UHSUHVHQWLQJORQJLWXGH DQG ODWLWXGH DUH GLVSOD\HG RQ WKH FKDUW  ' 6KDGLQJ ² 'HWHUPLQHV ZKHWKHU WHUUDLQ VKDGLQJ LVGLVSOD\HG LQ ' YLHZ  &RPPXQLW\ (GLWV ² 'HWHUPLQHV ZKHWKHU WKH FRPPXQLW\OD\HU LV HQDEOHG RU GLVDEOHG  &KDUW 7H[W ² 'HWHUPLQHV ZKHWKHU FKDUW WH[W LV GLVSOD\HGSODFH QDPHV DQG VR RQ&KDUW %RXQGDULHV ² 'HWHUPLQHV ZKHWKHU D OLQH LQGLFDWLQJWKH FKDUW ERXQGDU\ LV GLVSOD\HG5DQJH 5LQJV² 9LHZ UDQJH ULQJV LQ WKH &KDUW DSSOLFDWLRQ7KLV RYHUOD\ LV QRW DYDLODEOH LQ ' YLHZ6DIH =RQH 5LQJ ² 9LHZ VDIH ]RQH ULQJ 7KLV RYHUOD\ LV QRWDYDLODEOH LQ ' YLHZ)XHO 5DQJH 5LQJ ² 9LHZ WKH IXHO UDQJH ULQJ 7KLV RYHUOD\ LVQRW DYDLODEOH LQ ' YLHZ%RDW 6L]H ² 'HWHUPLQHV WKH VL]H RI WKH ERDW LFRQ RQVFUHHQ:D\SRLQW 1DPH ² 'HWHUPLQHV ZKHWKHU WKH :D\SRLQW QDPHVDUH GLVSOD\HG QH[W WR ZD\SRLQWV5RXWH :LGWK ² 'HWHUPLQH WKH ZLGWK RI URXWH OLQHV RQVFUHHQ7UDFN :LGWK ² 'HWHUPLQH WKH ZLGWK RI WUDFN OLQHV RQVFUHHQ1RWH $GGLWLRQDO KDUGZDUH UHTXLUHG ,I VXSSRUWHG E\ \RXU FDUWRJUDSK\ W\SH(QDEOLQJ $,6 LQ WKH &KDUW DSSOLFDWLRQ7R HQDEOH WKH $,6 RYHUOD\ LQ WKH &KDUW DSSOLFDWLRQ IROORZ WKHVWHSV EHORZ7R HQDEOH WKH $,6 RYHUOD\ \RXU V\VWHP PXVW LQFOXGH DQ $,6UHFHLYHU RU WUDQVFHLYHU 7KH $,6 RYHUOD\ LV QRW DYDLODEOH LQ 'YLHZ)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW $,6 VR WKDW 2Q LV VHOHFWHG6HOHFWLQJ $,6 VZLWFKHV WKH $,6 EHWZHHQ 2Q DQG 2II)RU $,6 LQIRUPDWLRQ UHIHU WR &KDSWHU  $,6 IXQFWLRQ5DGDU RYHUOD\<RX FDQ RYHUOD\ 5DGDU DQG 0$53$ IXQFWLRQV LQ WKH &KDUWDSSOLFDWLRQ WR SURYLGH WDUJHW WUDFNLQJ RU WR KHOS \RX GLVWLQJXLVKEHWZHHQ ¿[HG REMHFWV DQG RWKHU PDULQH WUDI¿F<RX FDQ HQKDQFH WKH XVH RI \RXU FKDUW E\ FRPELQLQJ LW ZLWK WKHIROORZLQJ UDGDU IHDWXUHV 0$53$ 5DGDU RYHUOD\ IRU GLVWLQJXLVKLQJ EHWZHHQ ¿[HG DQG PRYLQJREMHFWV1RWH ,Q RUGHU WR XVH WKH 5DGDU RYHUOD\ IHDWXUH \RX PXVWXVH DQ H[WHUQDO VRXUFH IRU PDJQHWLF KHDGLQJ HJ ÀX[JDWHFRPSDVV \RX FDQQRW XVH &2* GDWD IRU UDGDU RYHUOD\9LHZLQJ 0$53$ WDUJHWV RQ WKH FKDUW7KH 0LQL $XWRPDWLF 5DGDU 3ORWWLQJ $LG 0$53$ IXQFWLRQ LVXVHG IRU WDUJHW WUDFNLQJ DQG ULVN DQDO\VLV :KHQ 0$53$ WDUJHWVDUH EHLQJ WUDFNHG WKH\ DUH GLVSOD\HG LQ WKH FKDUW DSSOLFDWLRQUHJDUGOHVV RI ZKHWKHU 5DGDU RYHUOD\ LV VZLWFKHG RQ $VVRFLDWHG0$53$ IXQFWLRQV FDQ EH DFFHVVHG XVLQJ WKH FKDUW PHQX8VLQJ UDGDU RYHUOD\ WR GLVWLQJXLVK EHWZHHQ ¿[HG DQGPRYLQJ REMHFWV<RX FDQ RYHUOD\ UDGDU LPDJH GDWD RYHU \RXU FKDUW LPDJH DOORZLQJEHWWHU GLVWLQFWLRQ EHWZHHQ ¿[HG REMHFWV DQG RWKHU PDULQH WUDI¿F)RU EHVW UHVXOWV VZLWFK RQ 5DGDU&KDUW V\QFKURQL]DWLRQ WRHQVXUH UDGDU UDQJH DQG FKDUW VFDOH DUH V\QFKURQL]HG(QDEOLQJ UDGDU RYHUOD\:LWK WKH UDGDU WXUQHG RQ DQG WUDQVPLWWLQJ DQG ZLWK WKH FKDUWDSSOLFDWLRQ LQ ' YLHZ 6HOHFW 0HQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW 5DGDU7KH UDGDU RYHUOD\ RSDFLW\ VOLGHU EDU FRQWURO LV GLVSOD\HGVKRZLQJ WKH FXUUHQW RSDFLW\ SHUFHQWDJH $GMXVW WKH VOLGHU EDU WR WKH UHTXLUHG RSDFLW\ RU 6HOHFW 2II WR WXUQ WKH UDGDU RYHUOD\ RII$FFHVVLQJ UDGDU FRQWUROV RQ WKH FKDUW)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 5DGDU 2SWLRQV RU 5DGDU  $,6 2SWLRQV1RWH $Q\ FKDQJHV PDGH WR WKH UDGDU RSWLRQV IURP WKH FKDUWDSSOLFDWLRQ ZLOO EH DSSOLHG WR WKH UDGDU DSSOLFDWLRQ&KDUW VFDOH DQG UDGDU UDQJH V\QFKURQL]DWLRQ<RX FDQ V\QFKURQL]H WKH UDGDU UDQJH LQ DOO UDGDU ZLQGRZV ZLWKWKH FKDUW VFDOH:KHQ V\QFKURQL]DWLRQ LV VZLWFKHG RQ 7KH UDGDU UDQJH LQ DOO UDGDU ZLQGRZV FKDQJHV WR PDWFK WKHFKDUW VFDOH µ6\QF¶ LV LQGLFDWHG LQ WKH WRS OHIWKDQG FRUQHU RI WKH FKDUWZLQGRZ ,I \RX FKDQJH WKH UDGDU UDQJH LQ DQ\ UDGDU ZLQGRZ DOOV\QFKURQL]HG FKDUW YLHZV FKDQJH VFDOH WR PDWFK ,I \RX FKDQJH WKH VFDOH RI D V\QFKURQL]HG FKDUW ZLQGRZ DOOUDGDU ZLQGRZV FKDQJH UDQJH WR PDWFK6\QFKURQL]LQJ WKH FKDUW DQG UDGDU UDQJH,Q WKH ' FKDUW YLHZ 6HOHFW 0HQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 9LHZ  0RWLRQ 6HOHFW &KDUW 6\QF 6HOHFW 5DGDU1RWH 5DGDU UDQJH V\QFKURQL]DWLRQ LV QRW DYDLODEOH ZKHQ WKHFKDUW PRWLRQ PRGH LV VHW WR $XWR 5DQJH D 6HULHV  F 6HULHV  H 6HULHV
$HULDO SKRWR RYHUOD\<RXU HOHFWURQLF FKDUWV PD\ LQFOXGH DHULDO SKRWRJUDSK\$HULDO SKRWRV FRYHU WKH QDYLJDEOH ZDWHUV XS WR  PLOHV LQVLGH WKHFRDVWOLQH 7KH UHVROXWLRQ LV GHSHQGHQW RQ WKH UHJLRQ FRYHUHGE\ WKH FKDUW FDUG(QDEOLQJ DHULDO SKRWR RYHUOD\)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW $HULDO7KH DHULDO RSDFLW\ VOLGHU EDU FRQWURO LV GLVSOD\HG VKRZLQJ WKHFXUUHQW RSDFLW\ SHUFHQWDJH $GMXVW WKH VOLGHU EDU WR WKH UHTXLUHG RSDFLW\ RU 6HOHFW 2II WR WXUQ WKH DHULDO RYHUOD\ RII6SHFLI\LQJ WKH DHULDO RYHUOD\ DUHD)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW $HULDO 2YHUOD\$ OLVW RI RYHUOD\ RSWLRQV LV GLVSOD\HG 6HOHFW HLWKHU 2Q /DQG 2Q /DQG DQG 6KDOORZV RU 2Q /DQGDQG 6HD7KH FKDUW GLVSOD\ LV UHGUDZQ VKRZLQJ WKH QHZ RYHUOD\VHOHFWLRQ12:5DG ZHDWKHU RYHUOD\:LWK D VXLWDEOH ZHDWKHU UHFHLYHU FRQQHFWHG WR \RXU PXOWLIXQFWLRQGLVSOD\ \RX FDQ RYHUOD\ 12:5DG ZHDWKHU LQIRUPDWLRQ RQ WKHFKDUW GLVSOD\7KH 12:5DG ZHDWKHU RYHUOD\ SURYLGHV 12:5DG ZHDWKHULQIRUPDWLRQ DQG UHSRUWV LQ WKH FKDUW DSSOLFDWLRQ <RX FDQ DGMXVWWKH LQWHQVLW\ RI WKH RYHUOD\ WR DFKLHYH RSWLPDO YLVLELOLW\ RI ERWKFKDUW DQG ZHDWKHU LQIRUPDWLRQ1RWH 7KH 12:5DG ZHDWKHU RYHUOD\ FDQ RQO\ EH XVHG LQ1RUWK $PHULFD DQG LWV FRDVWDO ZDWHUV(QDEOLQJ 12:5DG ZHDWKHU RYHUOD\ RQ WKH FKDUW,Q WKH ' FKDUW YLHZ 6HOHFW 0HQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW 12:5DG7KH 12:5DG RSDFLW\ VOLGHU EDU FRQWURO LV GLVSOD\HG VKRZLQJWKH FXUUHQW RSDFLW\ SHUFHQWDJH $GMXVW WKH VOLGHU EDU WR WKH UHTXLUHG RSDFLW\ RU 6HOHFW 2II WR WXUQ WKH 12:5DG RYHUOD\ RII9LHZLQJ ZHDWKHU UHSRUWV IURP WKH FKDUW DSSOLFDWLRQ,Q WKH ' FKDUW YLHZ 6HOHFW 0HQX 6HOHFW :HDWKHU 5HSRUWV 6HOHFW 5HSRUW $W WR VZLWFK EHWZHHQ ZHDWKHU UHSRUWV IURP6KLS RU &XUVRU ORFDWLRQ 6HOHFW HLWKHU 7URSLFDO 6WDWHPHQWV 0DULQH :DUQLQJV 0DULQH=RQH )RUHFDVWV RU :DWFKER[ :DUQLQJV'DWDER[HV'DWDER[HV FDQ EH GLVSOD\HG LQ WKH DSSOLFDWLRQ ZLQGRZ7KH GDWDER[HV FDQ EH VZLWFKHG RQ DQG RII DQG WKH GDWD WKDW LVGLVSOD\HG FDQ EH FXVWRPL]HG&XVWRPL]LQJ GDWDER[HV LQ WKH FKDUW DSSOLFDWLRQ7R VZLWFK GDWDER[HV RQ DQG RII DQG WR VHOHFW GDWD WR GLVSOD\IROORZ WKH VWHSV EHORZ)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\ 6HOHFW 'DWDER[HV 6HOHFW 'DWDER[  ! 2Q 6HOHFW 'DWDER[  ! 2Q &KRRVH WKH 6HOHFW 'DWD RSWLRQ IRU WKH UHOHYDQW GDWDER[ 6HOHFW WKH FDWHJRU\ WKDW UHÀHFWV WKH W\SH RI GDWD \RX ZDQW WRGLVSOD\ LQ WKH GDWDER[ )RU H[DPSOH 'HSWK GDWD 6HOHFW WKH GDWD LWHP7KH GDWD \RX VHOHFWHG LV GLVSOD\HG RQVFUHHQ LQ WKHDSSURSULDWH GDWDER[&KDUW JULG<RX FDQ RYHUOD\ D JULG RQWR WKH &KDUW DSSOLFDWLRQ7KH &KDUW JULG UHSUHVHQWV WKH OLQHV RI ODWLWXGH DQG ORQJLWXGH&KDUW DSSOLFDWLRQ 
%\ GHIDXOW WKH &KDUW JULG LV VZLWFKHG RII6ZLWFKLQJ WKH FKDUW JULG RQ DQG RII7KH &KDUW JULG FDQ EH VZLWFKHG RQ DQG RII E\ IROORZLQJ WKH VWHSVEHORZ)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW &KDUW *ULG VR WKDW 2Q LV VHOHFWHG WR WXUQ WKH JULGRQ RU 6HOHFW &KDUW *ULG VR WKDW 2II LV VHOHFWHG WR WXUQ WKH JULG RII' VKDGLQJ,I VXSSRUWHG E\ \RXU FDUWRJUDSK\ W\SH \RX FDQ VZLWFK VKDGLQJ RIODQG DQG VHD FRQWRXUV RQ DQG RII ' VKDGLQJ 2Q ' VKDGLQJ 2II%\ GHIDXOW ' VKDGLQJ LV VZLWFKHG RQ6ZLWFKLQJ ' VKDGLQJ RQ DQG RII' VKDGLQJ FDQ EH VZLWFKHG RQ DQG RII E\ IROORZLQJ WKH VWHSVEHORZ)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW ' 6KDGLQJ VR WKDW 2Q LV VHOHFWHG WR WXUQ WKHVKDGLQJ RQ RU 6HOHFW ' 6KDGLQJ VR WKDW 2II LV VHOHFWHG WR WXUQ WKHVKDGLQJ RII&RPPXQLW\ OD\HU,I VXSSRUWHG E\ \RXU FDUWRJUDSK\ W\SH \RX FDQ GLVSOD\ 8VHU*HQHUDWHG &RQWHQW 8*& RQ WKH &KDUW DSSOLFDWLRQ &RPPXQLW\ IHDWXUH 2Q &RPPXQLW\ IHDWXUH 2II7R FKHFN LI \RXU 1DYLRQLFV FDUWRJUDSK\ VXSSRUWV FRPPXQLW\ HGLWVGRZQORDGV SOHDVH UHIHU WKH 1DYLRQLFV ZHEVLWH IRU LQIRUPDWLRQDQG LQVWUXFWLRQV RQ GRZQORDGLQJ WKH XSGDWHV WR \RXU FKDUW FDUG6ZLWFKLQJ WKH FRPPXQLW\ HGLWV RQ DQG RII,I VXSSRUWHG E\ \RXU FDUWRJUDSK\ W\SH WKH 8VHU *HQHUDWHG&RQWHQW 8*& RYHUOD\ FDQ EH VZLWFKHG RQ DQG RII E\ IROORZLQJWKH VWHSV EHORZ)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW &RPPXQLW\ (GLWV VR WKDW 2Q LV VHOHFWHG WR GLVSOD\8*& RU 6HOHFW &RPPXQLW\ (GLWV VR WKDW 2II LV VHOHFWHG WR WXUQ RII8*&&KDUW WH[W,I VXSSRUWHG E\ \RXU FDUWRJUDSK\ W\SH FKDUW WH[W VXFK DV SODFHQDPHV DQG FDXWLRQ WH[W HWF FDQ EH VZLWFKHG RQ DQG RII &KDUW WH[W 2Q &KDUW WH[W 2II7KH GHIDXOW VHWWLQJ IRU &KDUW WH[W LV 2Q6ZLWFKLQJ FKDUW WH[W RQ DQG RII7KH &KDUW WH[W FDQ EH VZLWFKHG RQ DQG RII E\ IROORZLQJ WKH VWHSVEHORZ)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW &KDUW 7H[W VR WKDW 2Q LV VHOHFWHG WR WXUQ FKDUW WH[WRQ RU 6HOHFW &KDUW 7H[W VR WKDW 2II LV VHOHFWHG WR WXUQ FKDUW WH[W RII D 6HULHV  F 6HULHV  H 6HULHV
&KDUW ERXQGDULHV&KDUW ERXQGDU\ OLQHV FDQ EH VKRZQ RQVFUHHQ WKHVH OLQHVLQGLFDWH WKH ERXQGDU\ RI WKH FDUWRJUDSK\ FXUUHQWO\ LQ XVH &KDUW ERXQGDULHV 2Q &KDUW ERXQGDULHV 2II%\ GHIDXOW &KDUW ERXQGDU\ OLQHV DUH VZLWFKHG 2Q6ZLWFKLQJ FKDUW ERXQGDU\ OLQHV RQ DQG RII&KDUW ERXQGDU\ OLQHV FDQ EH VZLWFKHG RQ DQG RII E\ IROORZLQJWKH VWHSV EHORZ)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW &KDUW %RXQGDULHV VR WKDW 2Q LV VHOHFWHG WR GLVSOD\ERXQGDU\ OLQHV RU 6HOHFW &KDUW %RXQGDULHV VR WKDW 2II LV VHOHFWHG WR WXUQ WKHERXQGDU\ OLQHV RII5DQJH ULQJV5DQJH ULQJV SURYLGH DQ RQVFUHHQ LQFUHPHQWDO UHSUHVHQWDWLRQRI GLVWDQFH IURP \RXU YHVVHO WR KHOS \RX MXGJH GLVWDQFHV DW DJODQFH7KH ULQJV DUH DOZD\V FHQWUHG RQ \RXU YHVVHO DQG WKH VFDOHYDULHV WR VXLW \RXU FXUUHQW FKDUW UDQJH (DFK ULQJ LV ODEHOOHG ZLWKWKH GLVWDQFH IURP \RXU YHVVHO%\ GHIDXOW UDQJH ULQJV DUH VZLWFKHG RII 5DQJH ULQJV DUH QRWGLVSOD\HG LQ ' YLHZ6ZLWFKLQJ UDQJH ULQJV RQ DQG RII7KH UDQJH ULQJV FDQ EH VZLWFKHG RQ DQG RII E\ IROORZLQJ WKHVWHSV EHORZ:LWK WKH &KDUW DSSOLFDWLRQ LQ ' YLHZ 6HOHFW 0HQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW 5DQJH 5LQJV VR WKDW 2Q LV VHOHFWHG WR GLVSOD\ 5DQJH5LQJV RU 6HOHFW 5DQJH 5LQJV VR WKDW 2II LV VHOHFWHG WR WXUQ WKH5DQJH 5LQJV RII6DIH =RQH 5LQJ7KH FKDUW DSSOLFDWLRQ FDQ GLVSOD\ DQG FRQ¿JXUH D 0$53$  $,6VDIH ]RQH ULQJ7KH VDIH ]RQH ULQJ VKDUHV LWV FRQ¿JXUDWLRQ ZLWK WKH 5DGDUDSSOLFDWLRQV VDIH ]RQH ULQJ KRZHYHU FDQ EH GLVSOD\HGLQGHSHQGHQWO\ RI WKH VDIH ]RQH ULQJ LQ WKH 5DGDU DSSOLFDWLRQ,I D 0$53$ RU $,6 WDUJHW ZLOO UHDFK WKH VDIH ]RQH ULQJ ZLWKLQ WKHWLPH WR VDIH ]RQH VHOHFWHG DQ DODUP LV VRXQGHG6KRZLQJ WKH 6DIH =RQH 5LQJ LQ WKH &KDUW DSSOLFDWLRQ7R VKRZ WKH 6DIH =RQH ULQJ IROORZ WKH LQVWUXFWLRQV EHORZ)URP WKH &KDUW DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW 6DIH =RQH 5LQJ VR WKDW 6KRZ LV VHOHFWHG6HOHFWLQJ 6DIH =RQH 5LQJ ZLOO VZLWFK WKH ]RQH ULQJ EHWZHHQKLGGHQ WR YLVLEOH6HWWLQJ XS WKH 6DIH =RQH 5LQJ<RX FDQ DGMXVW WKH 6DIH =RQH 5LQJ UDGLXV WKH WLPH WR 6DIH =RQHDQG FKRRVH ZKHWKHU $,6 WDUJHWV WULJJHU WKH 6DIH =RQH DODUPIURP WKH 6DIH =RQH 5LQJ 6HWXS PHQX7KH 6DIH =RQH 6HWXS PHQX FDQ EH DFFHVVHG DV IROORZV )URP WKH 5DGDU DSSOLFDWLRQ 0HQX ! =RQHV ! 6DIH =RQH6HWXS )URP WKH &KDUW DSSOLFDWLRQ ZLWK RQO\ WKH $,6 RYHUOD\ HQDEOHG0HQX ! $,6 2SWLRQV ! 6DIH =RQH ! 6DIH =RQH 6HWXS )URP WKH &KDUW DSSOLFDWLRQ ZLWK RQO\ WKH 5DGDU RYHUOD\HQDEOHG 0HQX ! 5DGDU 2SWLRQV ! 6DIH =RQH ! 6DIH =RQH6HWXS )URP WKH &KDUW DSSOLFDWLRQ ZLWK WKH $,6 DQG 5DGDU RYHUOD\VHQDEOHG 0HQX ! 5DGDU  $,6 2SWLRQV ! 6DIH =RQH ! 6DIH=RQH 6HWXS)URP WKH 6DIH =RQH 6HWXS PHQX 6HOHFW 6DIH =RQH 5DGLXVL 6HOHFW WKH UHTXLUHG UDGLXV IRU WKH VDIH ]RQH 6HOHFW 7LPH WR 6DIH =RQHL 6HOHFW WKH UHTXLUHG WLPH SHULRG 6HOHFW $,6 $ODUP VR WKDW 2Q LV KLJKOLJKWHG6HOHFWLQJ $,6 $ODUP ZLOO VZLWFK WKH GDQJHURXV WDUJHW DODUPEHWZHHQ 2Q DQG 2II&KDUW DSSOLFDWLRQ 
)XHO UDQJH ULQJV7KH IXHO UDQJH ULQJ JLYHV DQ HVWLPDWHG UDQJH WKDW FDQ EHUHDFKHG ZLWK WKH HVWLPDWHG IXHO UHPDLQLQJ RQERDUG7KH IXHO UDQJH ULQJ FDQ EH GLVSOD\HG JUDSKLFDOO\ LQ WKH FKDUWDSSOLFDWLRQ DQG LQGLFDWHV DQ HVWLPDWHG UDQJH WKDW FDQ EHUHDFKHG ZLWK WKH &XUUHQW UDWH RI IXHO FRQVXPSWLRQ (VWLPDWHG IXHO UHPDLQLQJ RQERDUG &RXUVH UHPDLQLQJ LQ D VWUDLJKW OLQH &XUUHQW VSHHG PDLQWDLQHG1RWH7KH IXHO UDQJH ULQJ LV DQ HVWLPDWHG UDQJH WKDW FDQ EH UHDFKHGDW WKH FXUUHQW UDWH RI IXHO FRQVXPSWLRQ RI WKH IXHO RQERDUGDQG EDVHG RQ D QXPEHU RI H[WHUQDO IDFWRUV ZKLFK FRXOG HLWKHUH[WHQG RU VKRUWHQ WKH SURMHFWHG UDQJH7KLV HVWLPDWH LV EDVHG RQ GDWD UHFHLYHG IURP H[WHUQDO IXHOPDQDJHPHQW GHYLFHV RU YLD WKH )XHO 0DQDJHU ,W GRHV QRWWDNH LQWR DFFRXQW SUHYDLOLQJ FRQGLWLRQV VXFK DV WLGH FXUUHQWVHD VWDWH ZLQG HWF<RX VKRXOG QRW UHO\ RQ WKH IXHO UDQJH ULQJ IHDWXUH IRU DFFXUDWHYR\DJH SODQQLQJ RU LQ HPHUJHQF\ DQG VDIHW\ FULWLFDO VLWXDWLRQV(QDEOLQJ WKH IXHO UDQJH ULQJ)URP WKH FKDUW DSSOLFDWLRQ LQ ' YLHZ 6HOHFW 0HQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW )XHO 5DQJH 5LQJ VR WKDW 2Q LV VHOHFWHG7KH IXHO UDQJH ULQJ SRSXS PHVVDJH LV GLVSOD\HG 6HOHFW 2. WR WXUQ RQ WKH IXHO UDQJH ULQJV'LVDEOLQJ WKH )XHO 5DQJH 5LQJ)URP WKH FKDUW DSSOLFDWLRQ LQ ' YLHZ 6HOHFW 0HQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW )XHO 5DQJH 5LQJ VR WKDW 2II LV VHOHFWHG&KDQJLQJ WKH VL]H RI WKH YHVVHO V\PERO7KH YHVVHO V\PERO VL]H FDQ EH FKDQJHG IROORZLQJ WKH VWHSVEHORZ)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW %RDW 6L]H VR WKDW /DUJH LV VHOHFWHG WR VKRZ WKH ODUJHYHVVHO V\PEROV RU 6HOHFW %RDW 6L]H VR WKDW 6PDOO LV VHOHFWHG WR VKRZ WKH VPDOOYHVVHO V\PERO'LVSOD\LQJ ZD\SRLQW QDPHV:D\SRLQW QDPHV FDQ EH VKRZQ QH[W WR WKHLU UHVSHFWLYH ZD\SRLQWV\PEROV)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW :D\SRLQW 1DPH VR WKDW 6KRZ LV VHOHFWHG WR GLVSOD\WKH ZD\SRLQW QDPHV RU 6HOHFW :D\SRLQW 1DPH VR WKDW +LGH LV VHOHFWHG WR KLGH WKHZD\SRLQW QDPHV5RXWH DQG 7UDFN ZLGWKV7KH ZLGWK RI URXWH DQG WUDFN OLQHV FDQ EH FKDQJHG6HWWLQJ 5RXWH 7UDFN7KLQ1RUPDO7KLFN&KDQJLQJ URXWH RU WUDFN OLQH ZLGWKV7KH ZLGWK RI WKH OLQH WKDW PDNH XS URXWHV DQG WUDFNV FDQ EHFKDQJHG E\ IROORZLQJ WKH VWHSV EHORZ)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2YHUOD\V 6HOHFW HLWKHU 5RXWH :LGWK RU 7UDFN :LGWK DV UHTXLUHG 6HOHFW WKH ZLGWK \RX UHTXLUH IURP WKH OLVW D 6HULHV  F 6HULHV  H 6HULHV
 &KDUW YHFWRUV&KDUW YHFWRUV DUH DYDLODEOH IRU KHDGLQJ &2* ZLQG GLUHFWLRQ DQGWLGH GLUHFWLRQ &KDUW YHFWRUV DUH RQO\ DYDLODEOH LQ ' YLHZ$ UDQJH RI YHFWRU JUDSKLFV FDQ EH GLVSOD\HG LQ WKH FKDUWDSSOLFDWLRQ ZKHQ LQ ' FKDUW YLHZ 7KH IROORZLQJ YHFWRUV FDQ EHLQGHSHQGHQWO\ HQDEOHG RU GLVDEOHG,WHP 'HVFULSWLRQV:LQG DUURZ ² ZLQG GLUHFWLRQ LV GLVSOD\HG DV D \HOORZ OLQHZLWK VROLG DUURZ KHDGV SRLQWLQJ WRZDUGV \RXU YHVVHO LQGLFDWLQJWKH ZLQG GLUHFWLRQ 7KH ZLGWK RI WKH DUURZ LQGLFDWHV WKH ZLQGVWUHQJWK7LGH DUURZ ² WLGH LV GLVSOD\HG DV D EOXH OLQH ZLWK VROLG DUURZKHDG SRLQWLQJ DZD\ IURP \RXU YHVVHO LQ WKH GLUHFWLRQ RI WKH WLGDOVHW 7KH ZLGWK RI WKH DUURZ LQGLFDWHV WKH WLGH VWUHQJWK+'* KHDGLQJ YHFWRU ² D UHG OLQH VKRZV WKH YHVVHOV KHDGLQJ$Q DUURZ KHDG LV XVHG LI WKH YHFWRU OHQJWK LV VHW WR D YDOXH RWKHUWKDQ LQ¿QLWH &2* &RXUVH 2YHU *URXQG YHFWRU ² D JUHHQ OLQH LQGLFDWHVWKH YHVVHO¶V DFWXDO FRXUVH $ GRXEOH DUURZ KHDG LV XVHG LI WKHYHFWRU OHQJWK LV VHW WR D YDOXH RWKHU WKDQ LQ¿QLWH1RWH ,I 6SHHG 2YHU *URXQG 62* RU KHDGLQJ GDWD LV QRWDYDLODEOH YHFWRUV FDQQRW EH GLVSOD\HG9HFWRU OHQJWK7KH OHQJWK RI WKH +'* DQG &2* YHFWRU OLQHV FDQ EH VHW WR WKHGLVWDQFH \RXU YHVVHO ZLOO WUDYHO LQ WKH WLPH \RX VSHFLI\ DW \RXUFXUUHQW VSHHG RU WKH\ FDQ EH VHW WR LQ¿QLWH(QDEOLQJ DQG GLVDEOLQJ FKDUW YHFWRUV<RX FDQ HQDEOH DQG GLVDEOH WKH DYDLODEOH FKDUW YHFWRUV E\IROORZLQJ WKH VWHSV EHORZ,Q ' FKDUW YLHZ)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 9HFWRUV 6HOHFW WKH UHOHYDQW PHQX LWHP WR VZLWFK +HDGLQJ 9HFWRU&2* 9HFWRU7LGH $UURZ RU :LQG $UURZ 2Q RU 2II DVDSSURSULDWH6HWWLQJ YHFWRU OHQJWK DQG ZLGWK<RX FDQ VSHFLI\ WKH OHQJWK DQG ZLGWK RI WKH KHDGLQJ DQG &2*YHFWRUV E\ IROORZLQJ WKH VWHSV EHORZ,Q ' FKDUW YLHZ)URP WKH &KDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 9HFWRUV 6HOHFW 9HFWRU /HQJWK$ OLVW RI WLPHV LV GLVSOD\HG  6HOHFW D WLPH VHWWLQJ RU VHOHFW ,Q¿QLWH 6HOHFW 9HFWRU :LGWK$ OLVW RI ZLGWKV LV GLVSOD\HG 6HOHFW HLWKHU 7KLQ 1RUPDO RU :LGH &DUWRJUDSK\ REMHFWV&KDUW GHWDLO7KH FKDUW GHWDLO VHWWLQJ GHWHUPLQHV WKH DPRXQW RI GHWDLO VKRZQLQ WKH &KDUW DSSOLFDWLRQ/RZ+LJK6HOHFWLQJ WKH /RZ RSWLRQ IRU WKH &KDUW 'HWDLO GLVDEOHV WKHIROORZLQJ REMHFWV DQG RYHUOD\V &RPPXQLW\ (GLWV &KDUW 7H[W &KDUW %RXQGDULHV /LJKW 6HFWRUV 5RXWLQJ 6\VWHPV &DXWLRQ $UHDV 0DULQH )HDWXUHV /DQG )HDWXUHV 5RDGV $GGLWLRQDO :UHFNV &RORU 6HDEHG $UHDV 'HSWK &RQWRXUV&KDQJLQJ WKH OHYHO RI FKDUW GHWDLO)URP WKH FKDUW DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 2EMHFWV 6HOHFW &KDUW 'HWDLO WR VZLWFK EHWZHHQ +LJK RU /RZ DVDSSURSULDWH&KDUW DSSOLFDWLRQ 
&DUWRJUDSK\ REMHFWV,I VXSSRUWHG E\ \RX FDUWRJUDSK\ W\SH FDUWRJUDSKLF REMHFWV FDQ EH LQGLYLGXDOO\ VZLWFKHG RQ DQG RII 7KH WDEOH EHORZ VKRZ DOLVW RI WKHVH REMHFWV7KH 2EMHFWV PHQX LV DFFHVVHG IURP 0HQX ! 3UHVHQWDWLRQ ! 2EMHFWV1RWH 7KH 2EMHFWV PHQX LV RQO\ DYDLODEOH ZKHQ WKH FDUWRJUDSK\ LQ XVH VXSSRUWV WKHVH IHDWXUHV2EMHFW 0HQX LWHP 'HVFULSWLRQ 2SWLRQV6KRZ 5RFNV 'HWHUPLQHV WKH GHSWK DW ZKLFK URFNV DUH GLVSOD\HG LQ WKHFKDUW DSSOLFDWLRQ ± IW  ± P  ± ID ± IW  ± P  ± ID ± IW  ± P ± ID ± IW  ± P  ± ID ± IW  ± P  ± ID $OO GHIDXOW1DY 0DUNV 'HWHUPLQHV ZKHWKHU QDYLJDWLRQ PDUNV DUH GLVSOD\HG RQWKH FKDUW2II ² QDYLJDWLRQ PDUNV DUH 127 GLVSOD\HG2Q ² QDYLJDWLRQ PDUNV DUH GLVSOD\HG 2II 2Q GHIDXOW1DY 0DUN 6\PEROV 'HWHUPLQHV ZKLFK VHW RI QDYLJDWLRQ PDUN V\PEROV LV XVHG² ,QWHUQDWLRQDO RU 86 7KHVH V\PEROV FRUUHVSRQG WRSDSHU FKDUWV ,QWHUQDWLRQDO GHIDXOW 86/LJKW 6HFWRUV 'HWHUPLQHV ZKHWKHU WKH VHFWRU RI OLJKW FDVW E\ D ¿[HGEHDFRQ LV GLVSOD\HG RU QRW2II ² VHFWRU RI OLJKW LV 127 GLVSOD\HG2Q ² VHFWRU RI OLJKW LV GLVSOD\HG 2II 2Q GHIDXOW5RXWLQJ 6\VWHPV 'HWHUPLQHV ZKHWKHU URXWLQJ GDWD LV GLVSOD\HG RU QRW2II ² URXWLQJ GDWD LV 127 GLVSOD\HG2Q ² URXWLQJ GDWD LV GLVSOD\HG 2II 2Q GHIDXOW&DXWLRQ $UHDV 'HWHUPLQHV ZKHWKHU FDXWLRQ GDWD LV GLVSOD\HG RU QRW2II ² FDXWLRQ GDWD LV 127 GLVSOD\HG2Q ² FDXWLRQ GDWD LV GLVSOD\HG 2)) 21 GHIDXOW0DULQH )HDWXUHV :KHQ WKLV PHQX LWHP LV VHW WR 2Q WKH IROORZLQJZDWHUEDVHG FDUWRJUDSKLF IHDWXUHV DUH GLVSOD\HG &DEOHV 1DWXUH RI VHDEHG SRLQWV 7LGH VWDWLRQV &XUUHQW VWDWLRQV 3RUW LQIRUPDWLRQ 2II 2Q GHIDXOW/DQG )HDWXUHV :KHQ WKLV PHQX LWHP LV VHW WR 2Q ODQGEDVHG FDUWRJUDSKLFIHDWXUHV DUH GLVSOD\HG 2II 2Q GHIDXOW%XVLQHVV 6HUYLFHV :KHQ WKLV PHQX LWHP LV VHW WR 2Q V\PEROV LQGLFDWLQJ WKHORFDWLRQ RI D EXVLQHVV ZLOO EH VKRZQ 2II 2Q GHIDXOW3DQRUDPLF 3KRWRV 'HWHUPLQHV ZKHWKHU SDQRUDPLF SKRWRV DUH DYDLODEOH IRUODQGPDUNV VXFK DV SRUWV DQG PDULQDV 2II 2Q GHIDXOW5RDGV 'HWHUPLQHV ZKHWKHU PDMRU FRDVWDO URDGV DUH GLVSOD\HGRQ WKH FKDUW2II ² FRDVWDO URDGV DUH 127 GLVSOD\HG2Q ² FRDVWDO URDGV DUH GLVSOD\HG 2II 2Q GHIDXOW$GGLWLRQDO :UHFNV 'HWHUPLQHV ZKHWKHU H[WHQGHG LQIRUPDWLRQ IRU QHZ ZUHFNVLV GLVSOD\HG 2II 2Q GHIDXOW&RORUHG 6HDEHG $UHDV 3URYLGHV JUHDWHU GH¿QLWLRQ RI WKH VHDEHG 7KLV DSSOLHVRQO\ WR OLPLWHG DUHDV ZKHUH WKH H[WUD GHWDLO LV DYDLODEOH 2II GHIDXOW 2Q D 6HULHV  F 6HULHV  H 6HULHV
 2EMHFW LQIRUPDWLRQ,I VXSSRUWHG E\ \RXU FDUWRJUDSK\ W\SH \RX FDQ YLHZ GHWDLOHGLQIRUPDWLRQ DERXW VSHFL¿F FDUWRJUDSKLF REMHFWV'HSHQGLQJ RQ WKH FDUWRJUDSK\ W\SH \RX DUH XVLQJ \RX FDQ YLHZVRPH RU DOO RI WKH IROORZLQJ DGGLWLRQDO LQIRUPDWLRQ 'HWDLOV RI HDFK FDUWRJUDSKLF REMHFW WKDW LV PDUNHG RQ WKH FKDUWLQFOXGLQJ VRXUFH GDWD IRU VWUXFWXUHV OLQHV RSHQ VHD DUHDV HWF 'HWDLOV RI SRUWV SRUW IHDWXUHV DQG EXVLQHVV VHUYLFHV 3LORW ERRN LQIRUPDWLRQ VLPLODU WR ZKDW \RX ZRXOG VHH LQ DPDULQH DOPDQDF 3LORW ERRN LQIRUPDWLRQ LV DYDLODEOH DW FHUWDLQSRUWV 3DQRUDPLF SKRWRV RI SRUWV DQG PDULQDV 7KH DYDLODELOLW\ RISKRWRV LV LQGLFDWHG E\ D FDPHUD V\PERO RQ WKH FKDUW GLVSOD\<RX FDQ DOVR VHDUFK IRU WKH QHDUHVW LQVWDQFH RI D SDUWLFXODU FKDUWREMHFW XVLQJ WKH )LQG 1HDUHVW RSWLRQ 7KH IROORZLQJ REMHFW FDQEH VHDUFKHG IRU3RUW 6HDUFK E\ QDPH ² 1DYLRQLFV FKDUWV RQO\:D\SRLQWV3RUWV ² 1DYLRQLFV FKDUWV RQO\7LGH 6WDWLRQ ² 1DYLRQLFV FKDUWV RQO\&XUUHQW 6WDWLRQ ² 1DYLRQLFV FKDUWV RQO\2EVWUXFWLRQV:UHFNV3RUW 6HUYLFHV%XVLQHVV 6HUYLFHV ² 1DYLRQLFV FKDUWV RQO\6PDOO &UDIW )DFLOLW\ ² /LJKW+RXVH FKDUWV RQO\+DUERU )DFLOLW\ ² /LJKW+RXVH FKDUWV RQO\7KLV LQIRUPDWLRQ FDQ EH DFFHVVHG XVLQJ WKH &KDUW 2EMHFWV RU)LQG 1HDUHVW RSWLRQV IURP WKH FKDUW FRQWH[W PHQX 6HOHFW D FKDUW REMHFW RQ VFUHHQ DQG FKRRVH &KDUW 2EMHFWVIURP WKH FKDUW FRQWH[W PHQX WR YLHZ LQIRUPDWLRQ DERXW WKHVHOHFWHG REMHFW 6HOHFW )LQG 1HDUHVW IURP WKH FKDUW FRQWH[W PHQX WR VHDUFKIRU REMHFWV FORVH E\'LVSOD\LQJ FKDUW REMHFW LQIRUPDWLRQ)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW DQ REMHFW7KH FKDUW FRQWH[W PHQX LV GLVSOD\HG 6HOHFW &KDUW 2EMHFWV7KH &KDUW 2EMHFW 'LDORJ LV GLVSOD\HG 6HOHFWLQJ DYDLODEOH RSWLRQV ZLOO GLVSOD\ GHWDLOHG LQIRUPDWLRQDERXW WKDW LWHP 6HOHFWLQJ WKH SRVLWLRQ LQ WKH GLDORJ ZLOO FORVH WKH LQIRUPDWLRQGLDORJ DQG SRVLWLRQ WKH FXUVRU RYHU WKH REMHFW6HDUFKLQJ IRU WKH QHDUHVW FKDUW REMHFW RUVHUYLFH)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW D ORFDWLRQ RQ VFUHHQ7KH FKDUW FRQWH[W PHQX LV GLVSOD\HG 6HOHFW )LQG 1HDUHVW$ OLVW RI FKDUW REMHFW W\SHV LV GLVSOD\HG 6HOHFW WKH FKDUW REMHFW RU VHUYLFH LQ WKH OLVW$ OLVW LV GLVSOD\HG RI WKH DYDLODEOH LQVWDQFHV RI WKDW SDUWLFXODUREMHFW RU VHUYLFH 6HOHFW WKH LWHP WKDW \RX ZDQW WR ¿QG7KH FXUVRU ZLOO EH UHSRVLWLRQHG RYHU WKH VHOHFWHG REMHFW RU DOLVW RI LQVWDQFH ZLOO EH GLVSOD\HG6HDUFKLQJ IRU D SRUW E\ QDPH)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW D ORFDWLRQ RQ VFUHHQ7KH FKDUW FRQWH[W PHQX LV GLVSOD\HG 6HOHFW )LQG 1HDUHVW$ OLVW RI FKDUW REMHFW W\SHV LV GLVSOD\HG 6HOHFW 3RUW VHDUFK E\ QDPH IURP WKH OLVW7KH RQ±VFUHHQ NH\ERDUG LV GLVSOD\HG 8VH WKH RQVFUHHQ NH\ERDUG WR HQWHU WKH GHVLUHG SRUW QDPH 6HOHFW 6$9(7KH VHDUFK UHVXOWV DUH GLVSOD\HG 6HOHFW WKH SRVLWLRQ DJDLQVW DQ HQWU\ LQ WKH OLVW WR UHSRVLWLRQWKH FXUVRU RYHU WKDW SRVLWLRQ'LVSOD\LQJ SLORW ERRN LQIRUPDWLRQ)URP WKH FKDUW DSSOLFDWLRQ ZKHQ D SRUW V\PERO LV GLVSOD\HG IRUD SRUW ZKLFK KDV D SLORW ERRN 6HOHFW WKH SRUW V\PERO7KH FKDUW FRQWH[W PHQX ZLOO EH GLVSOD\HG 6HOHFW 3LORW %RRN 6HOHFW WKH UHOHYDQW FKDSWHU'LVSOD\LQJ SDQRUDPLF SKRWRV)URP WKH FKDUW DSSOLFDWLRQ ZKHQ D FDPHUD V\PERO LV GLVSOD\HGLQGLFDWLQJ WKH DYDLODELOLW\ RI D SKRWR 6HOHFW WKH FDPHUD V\PERO7KH FKDUW FRQWH[W PHQX LV GLVSOD\HG 6HOHFW 3KRWR7KH SKRWR LV GLVSOD\HG RQ VFUHHQ1RWH 1RW DOO FDUWRJUDSK\ W\SHV DUH FDSDEOH RI GLVSOD\LQJSDQRUDPLF SKRWRV&XUUHQW LQIRUPDWLRQ$QLPDWHG FXUUHQW LQIRUPDWLRQ7KH HOHFWURQLF FKDUWV PD\ DOORZ DQLPDWLRQ RI WKH FXUUHQWLQIRUPDWLRQ FXUUHQW VWDWLRQV$QLPDWHG FXUUHQW LQIRUPDWLRQ LV DYDLODEOH LQ WKH FKDUW DSSOLFDWLRQZKHUHYHU D GLDPRQGVKDSHG V\PERO ZLWK D & LV GLVSOD\HG7KLV V\PERO LGHQWL¿HV WKH ORFDWLRQ RI D FXUUHQW VWDWLRQ DQG WKHDYDLODELOLW\ RI FXUUHQW LQIRUPDWLRQ IRU WKH ORFDWLRQ:KHQ \RX VHOHFW D FXUUHQW VWDWLRQ V\PERO WKH FKDUW FRQWH[W PHQXLV GLVSOD\HG ZKLFK SURYLGHV WKH $QLPDWH RSWLRQ&KDUW DSSOLFDWLRQ 
:KHQ \RX VHOHFW $QLPDWH WKH DQLPDWH PHQX LV GLVSOD\HG DQGWKH GLDPRQGVKDSHG FXUUHQW V\PEROV DUH UHSODFHG ZLWK G\QDPLFFXUUHQW DUURZV ZKLFK LQGLFDWH WKH GLUHFWLRQ DQG VWUHQJWK RI WKHFXUUHQWV&XUUHQW DQLPDWLRQ $UURZV LQGLFDWH WKH GLUHFWLRQ RI FXUUHQW ÀRZV 7KH OHQJWK RI WKH DUURZ LQGLFDWHV WKH ÀRZ UDWH 7KH FRORU RI WKH DUURZ LQGLFDWHV WKH ÀRZ VSHHG±5HG LQFUHDVLQJ FXUUHQW ÀRZ VSHHG±%OXH GHFUHDVLQJ FXUUHQW ÀRZ VSHHG7KH DQLPDWLRQ FDQ EH YLHZHG FRQWLQXRXVO\ RU LQFUHPHQWDOO\ DW DWLPH LQWHUYDO WKDW \RX VSHFLI\ <RX FDQ DOVR VHW WKH GDWH IRU WKHDQLPDWLRQ DQG VWDUW RU UHVWDUW WKH DQLPDWLRQ DW DQ\ SRLQW ZLWKLQD KRXU SHULRG ,I WKH V\VWHP GRHV QRW KDYH D YDOLG GDWH DQGWLPH WKH GDWH XVHG ZLOO EH PLGGD\ IRU WKH V\VWHP GHIDXOW GDWH1RWH 1RW DOO HOHFWURQLF FKDUWV VXSSRUW WKH DQLPDWHG FXUUHQWVIHDWXUH &KHFN WKH 1DYLRQLFV ZHEVLWH ZZZQDYLRQLFVFRP WRHQVXUH WKH IHDWXUHV DUH DYDLODEOH RQ \RXU FKRVHQ FDUWRJUDSK\OHYHO9LHZLQJ DQLPDWHG FXUUHQW LQIRUPDWLRQ)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW GLDPRQGVKDSHG FXUUHQW LFRQ7KH FKDUW FRQWH[W PHQX LV GLVSOD\HG 6HOHFW $QLPDWH7KH DQLPDWH PHQX LV GLVSOD\HG DQG WKH FXUUHQW LFRQV DUHUHSODFHG ZLWK G\QDPLF FXUUHQW DUURZV&RQWUROOLQJ DQLPDWLRQV)URP WKH FKDUW DSSOLFDWLRQ ZLWK WKH DQLPDWH PHQX GLVSOD\HG 7R VWDUW RU VWRS WKH DQLPDWLRQ VHOHFW $QLPDWH WR VZLWFKEHWZHHQ 3OD\ DQG 3DXVH 7R YLHZ WKH DQLPDWLRQ LQ VWHSV VHOHFW 6WHS %DFN RU 6WHS)RUZDUG 7R VHW WKH DQLPDWLRQ VWHS LQWHUYDO SDXVH DQ\ SOD\LQJDQLPDWLRQV DQG WKHQ VHOHFW 6HW 7LPH ,QWHUYDO 7R VHW WKH DQLPDWLRQ GDWH VHOHFW 6HW 'DWH DQG WKHQ XVLQJ WKHRQ VFUHHQ NH\ERDUG HQWHU WKH UHTXLUHG GDWH 7R VHW WKH DQLPDWLRQ GDWH WR WKH FXUUHQW GDWH VHOHFW 7RGD\ 7R VHW WKH DQLPDWLRQ GDWH WR  KRXUV SUHYLRXV WR WKH FXUUHQWGDWH VHOHFW 3UHYLRXV 'D\ 7R VHW WKH DQLPDWLRQ GDWH WR  KRXUV DKHDG RI WKH FXUUHQWGDWH VHOHFW 1H[W 'D\&XUUHQW JUDSKV&XUUHQW JUDSKV SURYLGH D JUDSKLFDO YLHZ RI FXUUHQW DFWLYLW\ %DFN ² 5HWXUQ WR WKH SUHYLRXV PHQX RU YLHZ 6XQULVH LQGLFDWRU ² ,QGLFDWHV ZKHQ WKH VXQ ULVHV 6XQVHW LQGLFDWRU ² ,QGLFDWHV ZKHQ WKH VXQ VHWV ([LW ² &ORVHV WKH GLDORJ 1LJKWIDOO LQGLFDWRU ² 7KH JUH\HGRXW VHFWLRQ RI WKH JUDSKLQGLFDWHV ZKHQ QLJKWIDOO RFFXUV &XUUHQW GLUHFWLRQ ² ,QGLFDWHV WKH GLUHFWLRQ RI FXUUHQWUHODWLYH WR QRUWK (EE)ORRG ² 'LVSOD\V D OLVW VKRZLQJ HEE VODFN DQG ÀRRGWLGHV 'DWH QDYLJDWLRQ ² 8VH WKH LFRQV WR PRYH WR WKH QH[W RUSUHYLRXV GD\ 7LPH ² 7KH KRUL]RQWDO D[LV RI WKH JUDSK LQGLFDWHV WLPHLQ DFFRUGDQFH ZLWK WKH WLPH IRUPDW VSHFL¿HG LQ WKH 8QLWV6HWXS RSWLRQV &XUUHQW VSHHG ² 7KH YHUWLFDO D[LV RI WKH JUDSK LQGLFDWHVVSHHG LQ DFFRUGDQFH ZLWK WKH VSHHG SUHIHUHQFHV VSHFL¿HGLQ WKH 8QLWV 6HWXS RSWLRQV1RWH 7KH GDWD SURYLGHG LQ WKH FXUUHQW JUDSKV LV IRULQIRUPDWLRQ SXUSRVHV RQO\ DQG VKRXOG 127 EH UHOLHG XSRQ DVD VXEVWLWXWH IRU SUXGHQW QDYLJDWLRQ 2QO\ RI¿FLDO JRYHUQPHQWFKDUWV DQG QRWLFHV WR PDULQHUV FRQWDLQ DOO WKH FXUUHQWLQIRUPDWLRQ QHHGHG IRU VDIH QDYLJDWLRQ $OZD\V PDLQWDLQ DSHUPDQHQW ZDWFK'LVSOD\LQJ GHWDLOV RI FXUUHQWV)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW WKH GLDPRQGVKDSHG FXUUHQW LFRQ7KH FKDUW FRQWH[W PHQX LV GLVSOD\HG 6HOHFW &XUUHQW 6WDWLRQ7KH JUDSK IRU WKH VHOHFWHG VWDWLRQ LV GLVSOD\HG7LGH LQIRUPDWLRQ$QLPDWHG WLGH LQIRUPDWLRQ7KH HOHFWURQLF FKDUWV PD\ DOORZ DQLPDWLRQ RI WKH WLGH LQIRUPDWLRQWLGH VWDWLRQV$QLPDWHG WLGH LQIRUPDWLRQ LV DYDLODEOH LQ WKH FKDUW DSSOLFDWLRQZKHUHYHU D GLDPRQGVKDSHG V\PERO ZLWK D 7 LV GLVSOD\HG7KLV V\PERO LGHQWL¿HV WLGH VWDWLRQV DQG WKH DYDLODELOLW\ RI WLGHLQIRUPDWLRQ IRU WKH ORFDWLRQ:KHQ \RX VHOHFW D WLGH VWDWLRQ V\PERO WKH FKDUW FRQWH[W PHQX LVGLVSOD\HG ZKLFK SURYLGHV WKH $QLPDWH RSWLRQ:KHQ \RX VHOHFW $QLPDWH WKH DQLPDWH PHQX LV GLVSOD\HG DQGWKH GLDPRQG±VKDSHG V\PEROV DUH UHSODFHG ZLWK G\QDPLF WLGHEDU ZKLFK LQGLFDWHV WKH SUHGLFWHG WLGH KHLJKW IRU WKH DFWXDO WLPHDQG GDWH7LGH DQLPDWLRQ 7LGH KHLJKW LV LQGLFDWHG E\ D JDXJH 7KH JDXJH LV FRPSULVHGRI  OHYHOV ZKLFK DUH VHW DFFRUGLQJ WR WKH DEVROXWH PLQLPXP PD[LPXP YDOXHV RI WKDW SDUWLFXODU GD\ 7KH FRORU RI WKH DUURZ RQ WKH WLGH JDXJHV LQGLFDWHV FKDQJHVLQ WKH WLGH KHLJKW±5HG LQFUHDVLQJ WLGH KHLJKW±%OXH GHFUHDVLQJ WLGH KHLJKW7KH DQLPDWLRQ FDQ EH YLHZHG FRQWLQXRXVO\ RU LQFUHPHQWDOO\ DW DWLPH LQWHUYDO WKDW \RX VSHFLI\ <RX FDQ DOVR VHW WKH GDWH IRU WKHDQLPDWLRQ DQG VWDUW RU UHVWDUW WKH DQLPDWLRQ DW DQ\ SRLQW ZLWKLQD KRXU SHULRG ,I WKH V\VWHP GRHV QRW KDYH D YDOLG GDWH DQGWLPH WKH GDWH XVHG ZLOO EH PLGGD\ IRU WKH V\VWHP GHIDXOW GDWH1RWH 1RW DOO HOHFWURQLF FKDUWV VXSSRUW WKH DQLPDWHG WLGHVIHDWXUH &KHFN WKH 1DYLRQLFV ZHEVLWH ZZZQDYLRQLFVFRP WRHQVXUH WKH IHDWXUHV DUH DYDLODEOH RQ \RXU FKRVHQ FDUWRJUDSK\OHYHO9LHZLQJ DQLPDWHG WLGH LQIRUPDWLRQ)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW GLDPRQGVKDSHG WLGH LFRQ7KH FKDUW FRQWH[W PHQX LV GLVSOD\HG D 6HULHV  F 6HULHV  H 6HULHV
 6HOHFW $QLPDWH7KH DQLPDWH PHQX LV GLVSOD\HG DQG WKH WLGH LFRQ LV UHSODFHGZLWK D G\QDPLF WLGH EDU LQGLFDWRU&RQWUROOLQJ DQLPDWLRQV)URP WKH FKDUW DSSOLFDWLRQ ZLWK WKH DQLPDWH PHQX GLVSOD\HG 7R VWDUW RU VWRS WKH DQLPDWLRQ VHOHFW $QLPDWH WR VZLWFKEHWZHHQ 3OD\ DQG 3DXVH 7R YLHZ WKH DQLPDWLRQ LQ VWHSV VHOHFW 6WHS %DFN RU 6WHS)RUZDUG 7R VHW WKH DQLPDWLRQ VWHS LQWHUYDO SDXVH DQ\ SOD\LQJDQLPDWLRQV DQG WKHQ VHOHFW 6HW 7LPH ,QWHUYDO 7R VHW WKH DQLPDWLRQ GDWH VHOHFW 6HW 'DWH DQG WKHQ XVLQJ WKHRQ VFUHHQ NH\ERDUG HQWHU WKH UHTXLUHG GDWH 7R VHW WKH DQLPDWLRQ GDWH WR WKH FXUUHQW GDWH VHOHFW 7RGD\ 7R VHW WKH DQLPDWLRQ GDWH WR  KRXUV SUHYLRXV WR WKH FXUUHQWGDWH VHOHFW 3UHYLRXV 'D\ 7R VHW WKH DQLPDWLRQ GDWH WR  KRXUV DKHDG RI WKH FXUUHQWGDWH VHOHFW 1H[W 'D\7LGH JUDSKV7LGH JUDSKV SURYLGH D JUDSKLFDO YLHZ RI WLGDO DFWLYLW\ %DFN ² UHWXUQ WR WKH SUHYLRXV PHQX RU YLHZ 6XQULVH LQGLFDWRU ² LQGLFDWHV ZKHQ WKH VXQ ULVHV 6XQVHW LQGLFDWRU ² LQGLFDWHV ZKHQ WKH VXQ VHWV ([LW ² FORVHV WKH GLDORJ 1LJKWIDOO LQGLFDWRU ² WKH JUH\HGRXW VHFWLRQ RI WKH JUDSKLQGLFDWHV ZKHQ QLJKWIDOO RFFXUV /RZ  +LJK 7LGH ² ,QGLFDWHV WKH WLPH DW ZKLFK ORZ RU KLJKWLGH RFFXUV 'DWH QDYLJDWLRQ ² 8VH WKH LFRQV WR PRYH WR WKH QH[W RUSUHYLRXV GD\ 7LPH ² 7KH KRUL]RQWDO D[LV RI WKH JUDSK LQGLFDWHV WLPH LQDFFRUGDQFH ZLWK WKH WLPH IRUPDW VSHFL¿HG LQ WKH 6\VWHP6HWWLQJV 'HSWK ² 7KH YHUWLFDO D[LV RI WKH JUDSK LQGLFDWHV WLGDO ZDWHUGHSWK 7KH XQLWV IRU WKH GHSWK PHDVXUHPHQW DUH EDVHG RQWKRVH VSHFL¿HG LQ WKH +RPHVFUHHQ ! &XVWRPL]H ! 8QLWV6HWXS ! 'HSWK 8QLWV PHQX1RWH 7KH GDWD SURYLGHG LQ WKH WLGH JUDSKV LV IRU LQIRUPDWLRQSXUSRVHV RQO\ DQG VKRXOG 127 EH UHOLHG XSRQ DV D VXEVWLWXWHIRU SUXGHQW QDYLJDWLRQ 2QO\ RI¿FLDO JRYHUQPHQW FKDUWV DQGQRWLFHV WR PDULQHUV FRQWDLQ DOO WKH FXUUHQW LQIRUPDWLRQ QHHGHGIRU VDIH QDYLJDWLRQ $OZD\V PDLQWDLQ D SHUPDQHQW ZDWFK'LVSOD\LQJ GHWDLOV RI WLGHV)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW WKH GLDPRQGVKDSHG WLGH LFRQ7KH FKDUW FRQWH[W PHQX LV GLVSOD\HG 6HOHFW 7LGH 6WDWLRQ7KH JUDSK IRU WKH VHOHFWHG VWDWLRQ LV GLVSOD\HG&KDUW DSSOLFDWLRQ 
 'HSWK  &RQWRXU RSWLRQV,I VXSSRUWHG E\ \RXU FDUWRJUDSK\ W\SH WKH IROORZLQJ GHSWK DQG FRQWRXU VHWWLQJV DUH DYDLODEOH1RWH 7KH PHQX LWHPV DYDLODEOH DUH GHSHQGDQW XSRQ \RXU FDUWRJUDSK\ W\SH 7KH GHSWK RSWLRQV DUH GHSHQGDQW XSRQ WKH XQLWVRI PHDVXUH LQ XVH RQ \RXU V\VWHP0HQX LWHP &DUWRJUDSK\ W\SH 'HVFULSWLRQ 2SWLRQV6KRZ 6RXQGLQJV /LJKW+RXVHYHFWRU FKDUWV DQG1DYLRQLFV'HWHUPLQHV WKH GHSWK DW ZKLFK GHSWKVRXQGLQJV DUH GLVSOD\HG 1RQH ± IW  ± P  ± ID ± IW  ± P  ± ID ± IW  ± P  ± ID ± IW  ± P  ± ID $OO GHIDXOW6KRZ &RQWRXUV 1DYLRQLFV 'HWHUPLQHV ZKHWKHU FRQWRXUV DUHGLVSOD\HG 2II ± IW  ± P  ± ID ± IW  ± P  ± ID ± IW  ± P  ± ID ± IW  ± P  ± ID ± IW  ± P  ± ID $OO GHIDXOW6KDOORZ &RQWRXU /LJKW+RXVH FKDUWV 'HWHUPLQHV WKH GHSWK DW ZKLFK WKH6KDOORZ FRQWRXU LV GLVSOD\HG7KH 6KDOORZ FRQWRXU FDQQRW EH VHW WR DYDOXH JUHDWHU WKDQ WKH 6DIHW\ RU 'HHSFRQWRXUV 2II  IW   P   ID  IW   P   ID GHIDXOW  IW   P   ID  IW   P   ID  IW   P   ID  IW   P   ID  IW   P   ID6DIHW\ &RQWRXU /LJKW+RXVH FKDUWV 'HWHUPLQHV WKH GHSWK DW ZKLFK WKH 6DIHW\FRQWRXU LV GLVSOD\HG7KH 6DIHW\ FRQWRXU FDQQRW EH VHW WR DYDOXH OHVV WKDQ WKH 6KDOORZ FRQWRXU RUKLJKHU WKDQ WKH 'HHS FRQWRXU 2II  IW   P   ID  IW   P   ID  IW   P   ID  IW   P   ID  IW   P   ID GHIDXOW  IW   P   ID  IW   P   ID'HHS &RQWRXU /LJKW+RXVHYHFWRU FKDUWV DQG1DYLRQLFV'HWHUPLQHV WKH GHSWK DW ZKLFK WKH 'HHSFRQWRXU LV GLVSOD\HG7KH 'HHS FRQWRXU FDQQRW EH VHW WR DYDOXH OHVV WKDQ WKH 6KDOORZ RU 6DIHW\FRQWRXUV 2II  IW   P   ID  IW   P   ID  IW   P   ID  IW   P   ID  IW   P   ID  IW   P   ID GHIDXOW  IW   P   ID'HHS :DWHU &RORU 1DYLRQLFV 'HWHUPLQHV WKH FRORU RI GHHS ZDWHU  :KLWH GHIDXOW %OXH6RQDU /RJV 1DYLRQLFV $OORZV ORJJLQJ RI GHSWK DQG SRVLWLRQGDWD WR \RXU 1DYLRQLFV FKDUW FDUG 7KLVGDWD ZLOO EH VHQW WR 1DYLRQLFV WR LPSURYHWKH FRQWRXU GHWDLO RI 6RQDU &KDUWV RQ\RXU PXOWLIXQFWLRQ GLVSOD\ 5HIHU WR WKH1DYLRQLFV ZHEVLWH ZZZQDYLRQLFVFRPIRU LQVWUXFWLRQV RQ KRZ WR XSORDG \RXUVRQDU ORJV 2Q 2II D 6HULHV  F 6HULHV  H 6HULHV
'HSWK VRXQGLQJV DQG FRQWRXUV,I VXSSRUWHG E\ \RXU FDUWRJUDSK\ W\SH GHSWK VRXQGLQJV DQGFRQWRXUV FDQ EH XVHG LQ WKH &KDUW DSSOLFDWLRQ WR SURYLGHDZDUHQHVV RI ZDWHU GHSWK:KHQ XVLQJ YHFWRU EDVHG FDUWRJUDSK\ \RX FDQ DGMXVW WKH GHSWKDW ZKLFK WKH FRQWRXUV DQG VRXQGLQJV DSSHDU RQVFUHHQ 6KDOORZ FRQWRXU 6DIHW\ FRQWRXU 'HHS FRQWRXU7KH 'HSWK  &RQWRXUV PHQX FDQ EH DFFHVVHG IURP 0HQX !3UHVHQWDWLRQ ! 'HSWK  &RQWRXUV&KDUW DSSOLFDWLRQ 
 0\ 'DWD RSWLRQV7KH 0\ 'DWD PHQX SURYLGHV DFFHVV WR \RXU XVHU GDWD7KH RSWLRQV DUH IRXQG LQ WKH 0\ 'DWD PHQX 0HQX ! 0\ 'DWD:D\SRLQWV ² 9LHZ WKH ZD\SRLQWV JURXS OLVW5RXWHV ² 9LHZ WKH 5RXWHV OLVW7UDFNV ² 9LHZ WKH 7UDFNV OLVW5HIHU WR &KDSWHU  :D\SRLQWV 5RXWHV DQG 7UDFNV IRU IXUWKHUGHWDLOV 0XOWLSOH FKDUW V\QFKURQL]DWLRQ<RX FDQ V\QFKURQL]H WKH KHDGLQJ UDQJH DQG SRVLWLRQLQIRUPDWLRQ DFURVV PXOWLSOH FKDUW YLHZV DQG QHWZRUNHG GLVSOD\V:KHQ FKDUW V\QFKURQL]DWLRQ LV HQDEOHG ,W LV LQGLFDWHG E\ ³&+57 6\QF´ LQ WKH FKDUW DSSOLFDWLRQ WLWOH EDU $Q\ FKDQJHV PDGH WR WKH KHDGLQJ UDQJH RU SRVLWLRQ LQ DQ\FKDUW LQVWDQFH ZLOO EH UHÀHFWHG LQ DOO RWKHU FKDUW LQVWDQFHV1RWH :KHQ WKH ' DQG ' FKDUW YLHZV DUH V\QFKURQL]HG WKH0RWLRQ 0RGH LV DOZD\V 5HODWLYH 0RWLRQ6\QFKURQL]LQJ PXOWLSOH FKDUW LQVWDQFHV)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW &KDUW 6\QF 6HOHFW &KDUW IURP WKH OLVW$ WLFN LV SODFHG QH[W WR WKH VHOHFWHG RSWLRQ 5HSHDW WKH VWHSV DERYH IRU HDFK FKDUW LQVWDQFH DQG LIUHTXLUHG RQ HDFK QHWZRUNHG PXOWLIXQFWLRQ GLVSOD\ \RX ZDQWWR V\QF WKH FKDUW YLHZ1RWH <RX FDQQRW V\QF WR DQRWKHU FKDUW LI UDGDU V\QF LV WXUQHGRQ D 6HULHV  F 6HULHV  H 6HULHV
 0HDVXULQJ GLVWDQFHV DQGEHDULQJV<RX FDQ XVH WKH GDWDEDU DQG FRQWH[W PHQX LQIRUPDWLRQ \RX FDQXVH WKH PHDVXUH IXQFWLRQ WR PHDVXUH GLVWDQFHV LQ WKH FKDUWDSSOLFDWLRQ<RX FDQ GHWHUPLQH WKH GLVWDQFH DQG EHDULQJ IURP \RXU YHVVHO WR WKH SRVLWLRQ RI WKH FXUVRU EHWZHHQ WZR SRLQWV RQ WKH FKDUW0HDVXULQJ IURP YHVVHO SRVLWLRQ WR FXUVRU)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW WKH ORFDWLRQ RQ VFUHHQ WKDW \RX ZDQW WR PHDVXUH WKHGLVWDQFH RU EHDULQJ IURP \RXU YHVVHO7KH FKDUW FRQWH[W PHQX ZLOO EH GLVSOD\HG 6HOHFW 0HDVXUH7KH IROORZLQJ ZLOO KDSSHQ 7KH PHDVXUH PHQX ZLOO EH GLVSOD\HG $ OLQH ZLOO EH GUDZQ IURP WKH FXUVRU SRVLWLRQ WR WKH FHQWHURI WKH VFUHHQ 7KH FXUVRU ORFDWLRQ ZLOO EH PRYHG DW WKH FHQWHU RI WKHVFUHHQ 7KH EHDULQJ DQG GLVWDQFH ZLOO EH GLVSOD\HG QH[W WR WKH QHZFXUVRU ORFDWLRQ )URP WKH PHDVXUH PHQX VHOHFW )URP VR WKDW 6KLS LV VHOHFWHG7KH UXOHU OLQH LV UHGUDZQ IURP WKH FXUVRU SRVLWLRQ WR \RXUYHVVHO <RX FDQ QRZ DGMXVW WKH UXOHU SRVLWLRQ E\ PRYLQJ WKH FXUVRUWR WKH GHVLUHG ORFDWLRQ ,I \RX ZDQW WKH UXOHU GLVSOD\HG DIWHU \RX KDYH FORVHG WKHPHDVXUH PHQX VHOHFW 5XOHU VR WKDW 2Q LV KLJKOLJKWHG6HOHFWLQJ UXOHU ZLOO VZLWFK WKH UXOHU 2Q DQG 2II 6HOHFW %DFN RU 2N WR FORVH WKH PHDVXUH PHQX OHDYLQJ WKHFXUUHQW PHDVXUHPHQW RQVFUHHQ0HDVXULQJ IURP SRLQW WR SRLQW)URP WKH FKDUW DSSOLFDWLRQ 6HOHFW WKH ORFDWLRQ RQ VFUHHQ WKDW \RX ZDQW WR PHDVXUH WKHGLVWDQFH RU EHDULQJ IURP \RXU YHVVHO7KH FKDUW FRQWH[W PHQX ZLOO EH GLVSOD\HG 6HOHFW 0HDVXUH7KH IROORZLQJ ZLOO KDSSHQ 7KH PHDVXUH PHQX ZLOO EH GLVSOD\HG $ OLQH ZLOO EH GUDZQ IURP WKH FXUVRU SRVLWLRQ WR WKH FHQWHURI WKH VFUHHQ 7KH FXUVRU ORFDWLRQ ZLOO EH PRYHG DW WKH FHQWHU RI WKHVFUHHQ 7KH EHDULQJ DQG GLVWDQFH ZLOO EH GLVSOD\HG QH[W WR WKH QHZFXUVRU ORFDWLRQ 6HOHFW )URP VR WKDW &XUVRU LV VHOHFWHG6HOHFWLQJ PHDVXUH IURP ZLOO VZLWFK EHWZHHQ 6KLS DQG &XUVRU <RX FDQ QRZ DGMXVW WKH HQG SRLQW E\ PRYLQJ WKH FXUVRU WR WKHGHVLUHG ORFDWLRQ <RX FDQ DOVR 6ZDS 'LUHFWLRQ RI WKH UXOHU VR WKDW WKH EHDULQJEHFRPHV WKH EHDULQJ IURP HQG SRLQW WR VWDUW SRLQW ,I \RX ZDQW WKH UXOHU GLVSOD\HG DIWHU \RX KDYH FORVHG WKHPHDVXUH PHQX VHOHFW 5XOHU VR WKDW 2Q LV KLJKOLJKWHG6HOHFWLQJ GLVSOD\ UXOHU ZLOO VZLWFK WKH UXOHU 2Q DQG 2II 6HOHFW %DFN RU 2N WR H[LW WKH PHDVXUH PHQX OHDYLQJ WKHFXUUHQW PHDVXUHPHQW RQVFUHHQ5HSRVLWLRQLQJ WKH UXOHU<RX FDQ UHSRVLWLRQ D UXOHU E\ IROORZLQJ WKH VWHSV EHORZ 6HOHFW WKH FXUUHQW UXOHU7KH UXOHU FRQWH[W PHQX LV GLVSOD\HG 6HOHFW 0HDVXUH<RX FDQ QRZ UHSRVLWLRQ WKH UXOHU DV UHTXLUHG&KDUW DSSOLFDWLRQ 
 D 6HULHV  F 6HULHV  H 6HULHV
&KDSWHU  )LVK¿QGHU DSSOLFDWLRQ&KDSWHU FRQWHQWV  +RZ WKH ¿VK¿QGHU ZRUNV RQ SDJH   6RQDU WHFKQRORJLHV RQ SDJH   5D\PDULQH VRQDU PRGXOHV RQ SDJH   )LVK¿QGHU RYHUYLHZ RQ SDJH   0XOWLSOH VRQDU PRGXOH VXSSRUW RQ SDJH   &XVWRP FKDQQHOV RQ SDJH   7KH VRQDU LPDJH RQ SDJH   5DQJH RQ SDJH   )LVK¿QGHU VFUROOLQJ RQ SDJH   )LVK¿QGHU GLVSOD\ PRGHV RQ SDJH   3UHVHQWDWLRQ PHQX RSWLRQV RQ SDJH   'HSWK DQG GLVWDQFH RQ SDJH   :D\SRLQWV LQ WKH )LVK¿QGHU DSSOLFDWLRQ RQ SDJH   6HQVLWLYLW\ VHWWLQJV RQ SDJH   )LVK¿QGHU DODUPV RQ SDJH   )UHTXHQF\ WXQLQJ RQ SDJH   6RXQGHU VHWXS PHQX RSWLRQV RQ SDJH   7UDQVGXFHU VHWXS PHQX RSWLRQV RQ SDJH   5HVHWWLQJ WKH VRQDU RQ SDJH )LVK¿QGHU DSSOLFDWLRQ 
 +RZ WKH ¿VK¿QGHU ZRUNV7KH ¿VK¿QGHU DSSOLFDWLRQ XVHV D VRQDU PRGXOH DQG D VXLWDEOHVRQDU WUDQVGXFHU 7KH VRQDU PRGXOH LQWHUSUHWV VLJQDOV IURP WKHWUDQVGXFHU DQG EXLOGV XS D GHWDLOHG XQGHUZDWHU YLHZ 9DULRXVVRQDU WHFKQRORJLHV DUH DYDLODEOH DOO RI ZKLFK ZRUN RQ WKH VDPHEDVLF SULQFLSOHV7KH VRQDU WUDQVGXFHU VHQGV SXOVHV RI VRXQG ZDYHV LQWR WKHZDWHU DQG PHDVXUHV WKH WLPH LW WDNHV IRU WKH VRXQG ZDYH WRWUDYHO WR WKH ERWWRP DQG EDFN 7KH UHWXUQLQJ HFKRHV DUH DIIHFWHGE\ ERWWRP VWUXFWXUH DQG E\ DQ\ RWKHU REMHFWV LQ WKHLU SDWKIRU H[DPSOH UHHIV ZUHFNV VKRDOV RU ¿VK 7KH 6RQDU PRGXOHLQWHUSUHWV WKHVH VLJQDOV DQG EXLOGV XS D GHWDLOHG XQGHUZDWHU YLHZZKLFK LV GLVSOD\HG LQ WKH )LVK¿QGHU DSSOLFDWLRQ7KH )LVK¿QGHU DSSOLFDWLRQ XVHV FRORUV DQG VKDGLQJ WR LQGLFDWHWKH VWUHQJWK RI WKH UHWXUQV <RX FDQ XVH WKLV LQIRUPDWLRQ WRGHWHUPLQH WKH ERWWRP VWUXFWXUH WKH VL]H RI ¿VK DQG RWKHU REMHFWVLQ WKH ZDWHU VXFK DV GHEULV RU DLU EXEEOHV1RWH 6RPH WUDQVGXFHUV LQFOXGH DGGLWLRQDO VHQVRUV WRPHDVXUH ZDWHU WHPSHUDWXUH DQGRU VSHHG 6RQDU WHFKQRORJLHV7UDGLWLRQDO VRQDU WHFKQRORJ\7UDGLWLRQDO VRQDU XVHV D VLQJOH FDUULHU IUHTXHQF\ RU FDUULHU ZDYHIRU WKH VRQDU SLQJ 7KH VRQDU ZRUNV E\ PHDVXULQJ WKH WLPHLW WDNHV WKH SLQJ HFKR WR UHWXUQ WR WKH WUDQVGXFHU WR GHWHUPLQHWDUJHW GHSWK&+,53 WHFKQRORJ\&+,53 VRQDUV XVH D VZHSW IUHTXHQF\ &+,53 VLJQDO ZKLFK FDQGLVWLQJXLVK EHWZHHQ PXOWLSOH FORVH WDUJHWV WKLV HQDEOHV WKH VRQDUWR GLVSOD\ PXOWLSOH WDUJHWV LQVWHDG RI ODUJH FRPELQHG WDUJHWV WKDW\RX ZRXOG VHH ZKHQ XVLQJ WUDGLWLRQDO QRQ&+,53 VRQDU%HQH¿WV RI &+,53 LQFOXGH LPSURYHPHQWV WR WDUJHW UHVROXWLRQERWWRP GHWHFWLRQ HYHQ WKURXJK EDLW EDOOV DQG WKHUPRFOLQHV DQGGHWHFWLRQ VHQVLWLYLW\&+,53 6RQDU RYHUYLHZ&+,53 VRQDU SURGXFHV D FRQLFDO VKDSHG EHDP WKH FRYHUDJH RIWKH FRQLFDO EHDP LV WKH ZDWHU FROXPQ GLUHFWO\ EHQHDWK WKH YHVVHO&RQLFDO EHDP D 6HULHV  F 6HULHV  H 6HULHV
6RQDU LV HIIHFWLYH DW D UDQJH RI VSHHGV ,Q GHHSHU ZDWHUV WKH&+,53 EDQGZLGWK LV DXWRPDWLFDOO\ RSWLPL]HG WR LPSURYH ERWWRPORFN DQG WKH GHWHFWLRQ RI PRYLQJ REMHFWV HJ ¿VK LQ WKH ZLGHUZDWHU FROXPQ&+,53 VRQDU VFUHHQ H[DPSOH&+,53 'RZQ9LVLRQ70 RYHUYLHZ'RZQ9LVLRQ70 SURGXFHV D ZLGH±DQJOH VLGHWRVLGH EHDP DQG DWKLQ IRUHWRDIW EHDP 7KH FRYHUDJH RI WKH 'RZQ9LVLRQ70 EHDPLV D ZDWHU FROXPQ GLUHFWO\ EHQHDWK DQG WR WKH VLGHV RI WKH YHVVHO'RZQ9LVLRQ70 EHDP'RZQ9LVLRQ70 LV HIIHFWLYH DW ORZHU YHVVHO VSHHGV ,Q GHHSHUZDWHUV WKH &+,53 EDQGZLGWK LV DXWRPDWLFDOO\ RSWLPL]HG WRLPSURYH ERWWRP ORFN DQG WKH GHWHFWLRQ RI PRYLQJ REMHFWV HJ¿VK LQ WKH ZLGHU ZDWHU FROXPQ7KH ZLGH WKLQ EHDP SURGXFHV FOHDU WDUJHW UHWXUQV 7KH XVH RI&+,53 SURFHVVLQJ DQG D KLJKHU RSHUDWLQJ IUHTXHQF\ SURYLGHD PRUH GHWDLOHG LPDJH PDNLQJ LW HDVLHU WR LGHQWLI\ ERWWRPVWUXFWXUHV DURXQG ZKLFK ¿VK PD\ UHVLGH&+,53 'RZQ9LVLRQ70 VFUHHQ H[DPSOH 5D\PDULQH VRQDU PRGXOHV<RX FDQ ¿QG GHWDLOV RQ 5D\PDULQH¶V VRQDU PRGXOHV EHORZ7KH GHSWK VKRZQ EHORZ IRU 'RZQ9LVLRQ70 VRQDU PRGXOHVLV W\SLFDO DFKLHYDEOH GHSWK GHSHQGLQJ RQ WKH FRQQHFWHGWUDQVGXFHU LQ RSWLPXP ZDWHU FRQGLWLRQV 7KH GHSWKV VKRZQ IRU7UDGLWLRQDO DQG &+,53 VRQDU PRGXOHV DUH WKH PD[LPXP GHSWKVDFKLHYDEOH GHSHQGLQJ RQ FRQQHFWHG WUDQVGXFHU LQ RSWLPXPZDWHU FRQGLWLRQV6RQDU PRGXOH 7HFKQRORJ\  'HVFULSWLRQ&3& &+,53 H[WHUQDO&3 'RZQ9LVLRQ70 H[WHUQDO'UDJRQÀ\ 'RZQ9LVLRQ70 LQWHUQDOD  D 'RZQ9LVLRQ70 LQWHUQDO&3 7UDGLWLRQDO H[WHUQDOD  D 7UDGLWLRQDO LQWHUQDOF  F 7UDGLWLRQDO LQWHUQDOH'  H  H 7UDGLWLRQDO LQWHUQDO'60  '60  '60 /HJDF\ H[WHUQDO)LVK¿QGHU DSSOLFDWLRQ 
 )LVK¿QGHU RYHUYLHZ7KH )LVK¿QGHU DSSOLFDWLRQ KHOSV WR LQWHUSUHW ZKDW LV XQGHU WKHZDWHU DURXQG \RXU YHVVHO7KH YDULRXV IXQFWLRQV DQG IHDWXUHV RI WKH ¿VK¿QGHU DSSOLFDWLRQLQFOXGH &KDQQHO VHOHFWLRQ $FWLYH VRQDU PRGXOH DQG IUHTXHQF\ 'LVSOD\ PRGHV =RRP $6FRSH RU %RWWRP /RFN $XWRPDWLF RU PDQXDO UDQJH FRQWURO 6HQVLWLYLW\ VHWWLQJV WR KHOS RSWLPL]H DQG VLPSOLI\ WKH GLVSOD\HGLPDJH 3DXVLQJ DQG DGMXVWLQJ WKH VSHHG RI WKH VFUROOLQJ LPDJH 8VLQJ ZD\SRLQWV WR PDUN D SRVLWLRQ 'HWHUPLQLQJ GHSWKV DQG GLVWDQFHV RI WDUJHWV )LVK¿QGHU DODUPV ¿VK GHSWK RU ZDWHU WHPSHUDWXUH1RWH  7KH GLVSOD\ PRGHV DYDLODEOH DUH GHSHQGHQW RQ WKHVRQDU FKDQQHO  PRGXOH EHLQJ GLVSOD\HG)LVK¿QGHU VFUHHQ7KH )LVK¿QGHU DSSOLFDWLRQ GLVSOD\V D VFUROOLQJ LPDJH IURP ULJKWWR OHIW DFURVV WKH VFUHHQ RI WKH ZDWHU XQGHU \RXU YHVVHO (DFK)LVK¿QGHU DSSOLFDWLRQ SDQH FDQ EH LQGHSHQGHQWO\ FRQ¿JXUHG WRVKRZ D GLIIHUHQW VRQDU PRGXOH  IUHTXHQF\([DPSOH &+,53 VFUHHQ([DPSOH 'RZQ9LVLRQ70 VFUHHQ7KH )LVK¿QGHU ZLQGRZ LQFOXGHV WKH IROORZLQJ IHDWXUHV 7KH ERWWRP WRJHWKHU ZLWK DQ\ ERWWRP VWUXFWXUH VXFK DV UHHIVDQG VKLSZUHFNV HWF 7DUJHW LPDJHV LQGLFDWLQJ ¿VK $ VWDWXV EDU LQGLFDWLQJ WKH FXUUHQW VRQDU PRGXOH DQG FKDQQHOLQ XVH %RWWRP GHSWK  2Q6FUHHQ FRQWUROV1RWH  2QVFUHHQ FRQWUROV DUH RQO\ DYDLODEOH RQ PXOWLIXQFWLRQGLVSOD\V ZLWK D WRXFKVFUHHQ DQG DUH GHSHQGHQW RQ WKH VRQDUPRGXOH DQG FKDQQHO WKDW LV EHLQJ GLVSOD\HG)LVK¿QGHU DSSOLFDWLRQ SDQHV$OO SDQHV VKRZLQJ DQ LQVWDQFH RI WKH )LVK¿QGHU DSSOLFDWLRQ LVLQGHSHQGHQW DQG DQ\ FKDQJHV PDGH WR WKH &KDQQHO VHOHFWLRQRU 'LVSOD\ PRGH DUH DXWRPDWLFDOO\ VDYHG DJDLQVW WKDW SDQH RIWKH DSSOLFDWLRQ0XOWLSOH SDJHV FDQ EH VHW XS RQ WKH +RPHVFUHHQ ZKLFK FDQ EHXVHG WR GLVSOD\ GLIIHUHQW FRPELQDWLRQV RI &KDQQHO DQG 'LVSOD\PRGH)LVK¿QGHU FRQWH[W PHQX7KH )LVK¿QGHU DSSOLFDWLRQ FRQWH[W PHQX ZKLFK GLVSOD\V GDWDDQG VKRUWFXWV WR PHQX LWHPV7KH FRQWH[W PHQX SURYLGHV WKH GDWD IRU WKH SRVLWLRQ RI WKH FXUVRU 'HSWK 5DQJH7KH FRQWH[W PHQX DOVR SURYLGH WKH IROORZLQJ PHQX LWHPV3ODFH :D\SRLQW3ODFH 0DUNHU  0RYH 0DUNHU  (UDVH 0DUNHU1RWH  2QO\ DYDLODEOH LI D PDUNHU KDV EHHQ SODFHG$FFHVVLQJ WKH FRQWH[W PHQX<RX FDQ DFFHVV WKH FRQWH[W PHQX E\ IROORZLQJ WKH VWHSV EHORZ 1RQWRXFKVFUHHQ DQG +\EULG7RXFK GLVSOD\VL 6HOHFWLQJ D ORFDWLRQ REMHFW RU WDUJHW RQVFUHHQ DQGSUHVVLQJ WKH 2N EXWWRQ +\EULG7RXFK DQG 7RXFK RQO\ GLVSOD\VL 6HOHFWLQJ DQ REMHFW RU WDUJHW RQVFUHHQLL 6HOHFWLQJ DQG KROGLQJ RQ D ORFDWLRQ RQVFUHHQ D 6HULHV  F 6HULHV  H 6HULHV
 0XOWLSOH VRQDU PRGXOH VXSSRUW<RXU PXOWLIXQFWLRQ GLVSOD\ VXSSRUWV PXOWLSOH DFWLYH VRQDUPRGXOHV RQ WKH VDPH QHWZRUN<RX FDQ VHOHFW ZKLFK VRQDU FKDQQHO \RX ZDQW WR EH GLVSOD\HGRQVFUHHQ 2QO\  FKDQQHO FDQ EH GLVSOD\HG DW D WLPH LQ DVLQJOH )LVK¿QGHU DSSOLFDWLRQ SDQH 0XOWLSOH FKDQQHOV FDQ EHGLVSOD\HG DW WKH VDPH WLPH XVLQJ FXVWRP VSOLWVFUHHQ SDJHV$OWHUQDWLYHO\ PXOWLSOH FXVWRP SDJHV FRXOG EH VHW XS WR VXLWLQGLYLGXDO UHTXLUHPHQWV&KDQQHO 'HVFULSWLRQ 6RQDU PRGXOH$XWR $XWRPDWLFDOO\ VHOHFWV WKHEHVW IUHTXHQF\ IRU ERWWRPWUDFNLQJ&3 &3& 6RQDUYDULDQW PXOWLIXQFWLRQGLVSOD\V N+]  N+]*RRG IRU GHHSHU ZDWHUV DQGIRU D ZLGH VRQDU EHDP&3 &3& 6RQDUYDULDQW PXOWLIXQFWLRQGLVSOD\V N+] *RRG GHWDLO DW PRVW GHSWKVZLWK PRGHUDWHO\ ZLGH VRQDUEHDP&3& N+] *LYHV JRRG GHWDLO LQ VKDOORZZDWHUV&3& N+] *LYHV WKH EHVW GHWDLO LQVKDOORZ ZDWHUV&3 6RQDU YDULDQWPXOWLIXQFWLRQ GLVSOD\V/RZ &+,53 *RRG WDUJHW VHSDUDWLRQ LQGHHS ZDWHU&3&0HGLXP&+,53*RRG DOO URXQGSHUIRUPDQFH ZLWK JUHDWWDUJHW VHSDUDWLRQ&3&+LJK &+,53 %HVW IRU FOHDU WDUJHWVHSDUDWLRQ LQ VKDOORZZDWHUV DQG ERWWRP GHWDLO&3&'RZQ9LVLRQ70*LYHV SKRWR OLNH LPDJHV RIERWWRP VWUXFWXUH&3 'RZQ9LVLRQ70YDULDQW PXOWLIXQFWLRQGLVSOD\V6RQDU N+] &+,537DUJHWV EDLW DQG SUHGDWRU¿VK ZLWK ZLGH VRQDU EHDP&3 'RZQ9LVLRQ70YDULDQW PXOWLIXQFWLRQGLVSOD\V1RWH 7KH FKDQQHOV DYDLODEOH DUH GHSHQGHQW RQ WKH VRQDUPRGXOH DQG LWV FRQQHFWHG WUDQVGXFHU 'RZQ9LVLRQ70 VRQDU PRGXOHV LQFOXGH ERWK D'RZQ9LVLRQ70 FKDQQHO DQG D WUDGLWLRQDO VRQDU FKDQQHO6HOHFWLQJ WKH VRQDU FKDQQHO7R VHOHFW WKH FKDQQHO \RX ZDQW WR GLVSOD\ IROORZ WKH VWHSV EHORZ)URP WKH )LVK¿QGHU DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW &KDQQHO7KH &KDQQHO VHOHFWLRQ SDJH LV GLVSOD\HG 6HOHFW WKH WDE IRU WKH VRQDU PRGXOH \RX ZDQW WR XVH$ OLVW RI DYDLODEOH FKDQQHOV IRU WKH VHOHFWHG VRQDU PRGXOHLV GLVSOD\HG 6HOHFW D FKDQQHO IURP WKH OLVW7KH &KDQQHO VHOHFWLRQ SDJH ZLOO FORVH DQG WKH )LVK¿QGHUDSSOLFDWLRQ ZLOO QRZ VKRZ WKH VHOHFWHG FKDQQHO'LVSOD\LQJ PXOWLSOH VRQDU FKDQQHOV8S WR  VRQDU FKDQQHOV FDQ EH YLHZHG DW WKH VDPH WLPH E\FUHDWLQJ D FXVWRP VSOLWVFUHHQ SDJH WKDW LQFOXGHV PXOWLSOH)LVK¿QGHU DSSOLFDWLRQ LQVWDQFHV,PSRUWDQW <RXU SLQJ UDWH PD\ EH UHGXFHG LI \RX GLVSOD\GLIIHUHQW FKDQQHOV IURP WKH VDPH VRQDU PRGXOH DW WKH VDPHWLPH &UHDWH D QHZ VSOLWVFUHHQ SDJH XVLQJ PXOWLSOH LQVWDQFHV RIWKH )LVK¿QGHU DSSOLFDWLRQ5HIHU WR WKH &KDQJLQJ DQ H[LVWLQJ SDJH RQ WKH KRPHVFUHHQVHFWLRQ WR ¿QG RXW KRZ WR FUHDWH D SDJH 2SHQ WKH QHZO\ FUHDWHG SDJH 6HOHFW WKH 2N EXWWRQ LQ RQH RI WKH )LVK¿QGHU SDQHV 6HOHFW WR FKDQQHO WKDW \RX ZDQW WR YLHZ LQ WKH VHOHFWHG SDQH5HIHU WR WKH 6HOHFWLQJ WKH VRQDU FKDQQHO VHFWLRQ IRU GHWDLOVRQ VHOHFWLQJ D VRQDU FKDQQHO 5HSHDW VWHSV  DQG  IRU HDFK SDQH RQ WKH VSOLWVFUHHQ SDJH)LVK¿QGHU DSSOLFDWLRQ 
'HSWK GDWD VRXUFH:KHUH PXOWLSOH VRXUFHV RI GHSWK GDWD H[LVW RQ D V\VWHP DQGWKH GHSWK 'DWD 6RXUFH LV VHW WR $XWR WKHQ WKH V\VWHP ZLOODXWRPDWLFDOO\ VHOHFW WKH RSWLPXP VRXUFH IRU GHSWK GDWD7KH V\VWHP ZLOO VHW WKH GDWD VRXUFH IRU GHSWK DFFRUGLQJ WR WKHSULRULW\ WDEOH EHORZVW &3& 6HD7DONKVQG &3 6HD7DONKVUG '60 6HD7DONKVWK '60 6HD7DONKVWK 7UDGLWLRQDO VRQDUYDULDQW PXOWLIXQFWLRQGLVSOD\V6HD7DONKV  LQWHUQDOWK 'RZQ9LVLRQ70 YDULDQWPXOWLIXQFWLRQ GLVSOD\6HD7DONKV  LQWHUQDOWK &3 6HD7DONKVWK ,QVWUXPHQW PXOWLIXQFWLRQ GLVSOD\6HD7DONQJWK ,QVWUXPHQW 6HD7DONWK ,QVWUXPHQW PXOWLIXQFWLRQ GLVSOD\10($ ,I PXOWLSOH VRQDU PRGXOHV RI WKH VDPH W\SH DUH SUHVHQW RQ D6HD7DONKV QHWZRUN WKHQ WKH XQLW ZLWK WKH KLJKHVW VHULDO QXPEHUZLOO EH VHOHFWHG DV WKH SUHIHUUHG GDWD VRXUFH )RU 6HD7DONQJ DQG10($  QHWZRUNV WKH XQLW ZLWK WKH KLJKHVW &$1 DGGUHVVLV VHOHFWHG,I WKH SUHIHUUHG GHSWK GDWD VRXUFH EHFRPHV XQDYDLODEOH WKHQ WKHV\VWHP ZLOO DXWRPDWLFDOO\ VHOHFW WKH QH[W KLJKHVW SULRULW\ GDWDVRXUFH5HIHU WR WKH 'DWD 6RXUFH PHQX VHFWLRQ IRU GHWDLOV RQ VHOHFWLQJSUHIHUUHG GDWD VRXUFHV,PSRUWDQW 'HSWK RIIVHW PXVW EH VHW IRU DOO LQVWDOOHGWUDQVGXFHUV WR HQVXUH FRQVLVWHQW DQG DFFXUDWH GDWD VKRZQ5HIHU WR WKH 'HSWK 2IIVHW VHFWLRQ IRU GHWDLOV &XVWRP FKDQQHOV&XVWRP FKDQQHOV FDQ EH FUHDWHG IURP HDFK VRQDU PRGXOH¶VGHIDXOW FKDQQHOV H[FOXGLQJ $XWR FKDQQHOV 7KLV HQDEOHV VRPHVHWWLQJV WR EH FXVWRPL]HG DQG VDYHG DV D VHSDUDWH FKDQQHO7KHVH FKDQQHOV FDQ WKHQ EH DVVLJQHG WR LQGLYLGXDO )LVK¿QGHUDSSOLFDWLRQ SDQHV 8S WR  FXVWRP FKDQQHOV FDQ EH FUHDWHG IRUHDFK FRQQHFWHG VRQDU PRGXOH:KHQ FKDQJHG WKH IROORZLQJ VHWWLQJV DUH VDYHG WR WKH FKDQQHOWKDW LV FXUUHQWO\ GLVSOD\HG 6HQVLWLYLW\ VHWWLQJV 5DQJH VHWWLQJV )UHTXHQF\ WXQLQJ ² 2QO\  IUHTXHQF\ VHWWLQJV FDQ EH VDYHGSHU WUDQVGXFHU  VRQDU PRGXOH FRPELQDWLRQ1RWH 3HUIRUPLQJ D 6RQDU 5HVHW ZLOO HUDVH DOO FXVWRPFKDQQHOV IRU WKH FXUUHQW VRQDU PRGXOH&UHDWLQJ D FXVWRP FKDQQHO7R FUHDWH D FXVWRP FKDQQHO IROORZ WKH VWHSV EHORZ)URP WKH )LVK¿QGHU DSSOLFDWLRQ PHQX 6HOHFW &KDQQHO7KH &KDQQHO VHOHFWLRQ SDJH LV GLVSOD\HG 6HOHFW WKH WDE IRU WKH VRQDU PRGXOH \RX ZDQW WR FUHDWH DFXVWRP FKDQQHO IRU 6HOHFW WKH &KDQQHO RSWLRQV LFRQ ORFDWHG QH[W WR WKH FKDQQHOWKDW \RX ZDQW WR XVH RU XVLQJ QRQ±WRXFK FRQWUROV VHOHFW WKH FKDQQHO DQG WKHQ SUHVVDQG KROG WKH 2N EXWWRQ XQWLO WKH RSWLRQV VFUHHQ LV GLVSOD\HG 6HOHFW &RS\ &KDQQHO7KH RQVFUHHQ NH\ERDUG LV GLVSOD\HG (QWHU WKH QDPH \RX ZDQW WR DVVLJQ WR \RXU QHZ FKDQQHO 6HOHFW 6$9(7KH QHZ FKDQQHO LV QRZ DYDLODEOH LQ WKH FKDQQHO OLVW IRU WKHUHOHYDQW VRQDU PRGXOH 6HOHFW WKH QHZ FKDQQHO WR GLVSOD\ LW LQ WKH )LVK¿QGHUDSSOLFDWLRQ SDQH&KDQJHV PDGH WR WKH 6HQVLWLYLW\ 5DQJH RU )UHTXHQF\ WXQLQJVHWWLQJV DUH DXWRPDWLFDOO\ VDYHG WR WKH FKDQQHO GLVSOD\HG<RX FDQ QRZ DVVLJQ WKH QHZ FKDQQHO WR D )LVK¿QGHU DSSOLFDWLRQSDQH5HQDPLQJ FXVWRP FKDQQHOV:LWK WKH &KDQQHO VHOHFWLRQ SDJH GLVSOD\HG 6HOHFW WKH WDE IRU WKH VRQDU PRGXOH WKDW FRQWDLQV WKH FKDQQHO\RX ZDQW WR UHQDPH 6HOHFW WKH &KDQQHO RSWLRQV LFRQ QH[W WR WKH FXVWRP FKDQQHO7KH FXVWRP FKDQQHO RSWLRQV SDJH LV GLVSOD\HG D 6HULHV  F 6HULHV  H 6HULHV
 6HOHFW 5HQDPH7KH RQVFUHHQ NH\ERDUG LV GLVSOD\HG (QWHU WKH QHZ QDPH IRU WKH FKDQQHO 6HOHFW 6$9('HOHWLQJ FXVWRP FKDQQHOV:LWK WKH &KDQQHO VHOHFWLRQ SDJH GLVSOD\HG 6HOHFW WKH WDE IRU WKH VRQDU PRGXOH WKDW FRQWDLQV WKH FKDQQHO\RX ZDQW WR GHOHWH 6HOHFW WKH &KDQQHO RSWLRQV LFRQ QH[W WR WKH FXVWRP FKDQQHO 6HOHFW 'HOHWH$ FRQ¿UPDWLRQ GLDORJ LV GLVSOD\HG 6HOHFW <HV7KH FXVWRP FKDQQHO KDV QRZ EHHQ UHPRYHG IURP \RXU V\VWHP 7KH VRQDU LPDJH,QWHUSUHWLQJ WKH ERWWRP XVLQJ VRQDU,W LV LPSRUWDQW WR XQGHUVWDQG KRZ WR FRUUHFWO\ LQWHUSUHW WKH ERWWRPVWUXFWXUH UHSUHVHQWHG RQVFUHHQ7KH ERWWRP XVXDOO\ SURGXFHV D VWURQJ HFKR7KH IROORZLQJ LPDJHV VKRZ KRZ GLIIHUHQW ERWWRP FRQGLWLRQV DUHUHSUHVHQWHG RQVFUHHQ,WHP 'HVFULSWLRQ$ KDUG ERWWRP VDQG SURGXFHV D WKLQ OLQH$ VRIW ERWWRP PXG RU VHDZHHG FRYHU SURGXFHV D ZLGHOLQH $ URFN\ RU XQHYHQ ERWWRP RU D ZUHFN SURGXFHV DQ LUUHJXODULPDJH ZLWK SHDNV DQG WURXJKV7KH GDUN OD\HUV LQGLFDWH D JRRG HFKR WKH OLJKWHU DUHDV LQGLFDWHZHDNHU HFKRHV 7KLV FRXOG PHDQ WKDW WKH XSSHU OD\HU LV VRIWDQG WKHUHIRUH DOORZLQJ VRXQG ZDYHV WR SDVV WR WKH PRUH VROLGOD\HU EHORZ,W LV DOVR SRVVLEOH WKDW WKH VRXQG ZDYHV DUH PDNLQJ WZR FRPSOHWHWULSV ± KLWWLQJ WKH ERWWRP ERXQFLQJ RII WKH YHVVHO WKHQ UHÀHFWLQJRII WKH ERWWRP DJDLQ 7KLV FDQ KDSSHQ LI WKH ZDWHU LV VKDOORZ RUWKH ERWWRP LV KDUG)DFWRUV LQÀXHQFLQJ WKH VRQDU GLVSOD\7KH TXDOLW\ DQG DFFXUDF\ RI WKH GLVSOD\ FDQ EH LQÀXHQFHG E\ DQXPEHU RI IDFWRUV LQFOXGLQJ YHVVHO VSHHG GHSWK REMHFW VL]HEDFNJURXQG QRLVH DQG WUDQVGXFHU IUHTXHQF\9HVVHO VSHHG7KH VKDSH RI WKH WDUJHW FKDQJHV DORQJ ZLWK \RXU VSHHG 6ORZHUVSHHGV UHWXUQ ÀDWWHU PRUH KRUL]RQWDO PDUNV +LJKHU VSHHGVFDXVH WKH WDUJHW WR WKLFNHQ DQG DUFK VOLJKWO\ XQWLO DW IDVW VSHHGVWKH PDUN UHVHPEOHV D GRXEOH YHUWLFDO OLQH7DUJHW GHSWK7KH FORVHU WKH WDUJHW WR WKH VXUIDFH WKH ODUJHU WKH PDUN RQVFUHHQ:DWHU GHSWK$V ZDWHU GHSWK LQFUHDVHV VLJQDO VWUHQJWK GHFUHDVHV UHVXOWLQJ LQD OLJKWHU RQVFUHHQ LPDJH RI WKH ERWWRP6L]H RI WKH WDUJHW7KH ODUJHU WKH WDUJHW WKH ODUJHU WKH UHWXUQ RQ WKH ¿VK¿QGHUGLVSOD\ 7KH VL]H RI D ¿VK WDUJHW LV DOVR GHSHQGHQW XSRQ WKH VL]HRI WKH ¿VK¶V VZLP EODGGHU UDWKHU WKDQ LWV RYHUDOO VL]H 7KH VZLPEODGGHU YDULHV LQ VL]H EHWZHHQ GLIIHUHQW EUHHGV RI ¿VK&OXWWHU  %DFNJURXQG QRLVH7KH ¿VK¿QGHU SLFWXUH PD\ EH LPSDLUHG E\ HFKRHV UHFHLYHG IURPÀRDWLQJ RU VXEPHUJHG GHEULV DLU EXEEOHV RU HYHQ WKH YHVVHOVPRYHPHQW 7KLV LV NQRZQ DV µ1RLVH¶ RU µ&OXWWHU¶ DQG LV FRQWUROOHGE\ WKH 6HQVLWLYLW\ 6HWWLQJV 7KH V\VWHP FDQ DXWRPDWLFDOO\ FRQWUROVRPH VHWWLQJV DFFRUGLQJ WR GHSWK DQG ZDWHU FRQGLWLRQV <RX FDQDOVR DGMXVW WKH VHWWLQJV PDQXDOO\ LI UHTXLUHG)LVK¿QGHU DSSOLFDWLRQ 
7UDQVGXFHU IUHTXHQF\7KH VDPH WDUJHW ZLOO DSSHDU GLIIHUHQWO\ ZKHQ XVLQJ GLIIHUHQWWUDQVGXFHU IUHTXHQFLHV 7KH ORZHU WKH IUHTXHQF\ WKH EURDGHUWKH PDUN5HFRYHULQJ ORVW ERWWRP,I WKH VHDEHG ÀRRU ERWWRP LV ORVW WKHQ IROORZ WKH VWHSV EHORZWR UHFRYHU WKH ERWWRP GHSWK)URP WKH ¿VK¿QGHU DSSOLFDWLRQ (QVXUH \RXU YHVVHO LV LQ FOHDU XQGLVWXUEHG ZDWHU ,I UDQJH LV VHW WR 0DQXDO DGMXVW WKH UDQJH WR WKH NQRZQFKDUWHG GHSWK RI \RXU ORFDWLRQ RU ,I UDQJH LV VHW WR $XWR WKHQ VZLWFK WKH UDQJH WR PDQXDO DQGDGMXVW WKH UDQJH WR WKH NQRZQ FKDUWHG GHSWK RI \RXU ORFDWLRQ 2QFH ERWWRP KDV EHHQ UHJDLQHG \RX FDQ VZLWFK UDQJH PRGHEDFN WR $XWR 5DQJH7KH 5DQJH IXQFWLRQ HQDEOHV \RX WR GH¿QH WKH UDQJH RI GHSWKWKDW \RX VHH LQ WKH )LVK¿QGHU DSSOLFDWLRQ ,Q $XWR 5DQJH WKH)LVK¿QGHU DSSOLFDWLRQ DXWRPDWLFDOO\ DGMXVWV WKH UDQJH WR HQVXUHWKH ZDWHU FROXPQ DQG ERWWRP DUH DOZD\V GLVSOD\HG ,Q 0DQXDO5DQJH \RX FDQ DGMXVW WKH UDQJH GLVSOD\HG RQVFUHHQ WR VXLW\RXU QHHGV7KH WDEOH EHORZ VKRZV H[DPSOHV RI WKH 5DQJH IXQFWLRQ XVHGZLWK GLIIHUHQW VRQDU W\SHV7UDGLWLRQDO DQG &+,53FKDQQHOV 'RZQ9LVLRQ70 FKDQQHO$XWR 5DQJH0DQXDO5DQJH&KDQJLQJ WKH GHSWK UDQJH<RX FDQ FKRRVH IURP HLWKHU$XWRPDWLF DGMXVWPHQW ZKHUHE\ WKH GLVSOD\ DXWRPDWLFDOO\VKRZV WKH VKDOORZHVW UHTXLUHG UDQJH0DQXDO DGMXVWPHQW RI WKH GHSWK UDQJH XS WR WKH PD[LPXPGHSWK DOORZHG E\ WKH )LVK¿QGHU DSSOLFDWLRQ)URP WKH )LVK¿QGHU DSSOLFDWLRQ PHQX 6HOHFW 5DQJH 6HOHFW 5DQJH WR VZLWFK EHWZHHQ $XWR DQG 0DQ :LWK PDQXDO PRGH VHOHFWHG \RX FDQ QRZ DGMXVW WKH GHSWKUDQJH VKRZQ RQVFUHHQ1RWH :LWK WKH 5DQJH PHQX GLVSOD\HG \RX FDQQRW XVH WKH5RWDU\ &RQWURO WR UDQJH LQ DQG RXW 7R XVH WKH 5RWDU\FRQWURO WR UDQJH LQ DQG RXW ¿UVW FORVH WKH 5DQJH PHQX5DQJH LQ DQG RXW7KH PHWKRG RI UDQJLQJ LQ DQG RXW RI WKH )LVK¿QGHU DSSOLFDWLRQ LVGHSHQGHQW XSRQ WKH PXOWLIXQFWLRQ GLVSOD\ YDULDQW EHLQJ XVHG7KH WDEOH EHORZ VKRZV WKH 5DQJH FRQWUROV DYDLODEOH IRU HDFKGLVSOD\ YDULDQW&RQWUROV0XOWLIXQFWLRQGLVSOD\V5RWDU\ &RQWURO  F 6HULHV H 6HULHV 50. NH\SDG5DQJH LQ DQG 5DQJHRXW EXWWRQV F 6HULHV H 6HULHV H[FOXGLQJH DQG H' 50. NH\SDG6OLGH WKH VFUHHQ 8S RU'RZQ D 6HULHV H 6HULHV J6 6HULHV D 6HULHV  F 6HULHV  H 6HULHV
5DQJH VKLIW7KH 5DQJH 6KLIW IXQFWLRQ HQDEOHV D VSHFL¿F DUHD RI WKH ZDWHUFROXPQ WR EH GLVSOD\HG RQVFUHHQ,Q WKH EHORZ H[DPSOH WKH WRS  IHHW RI WKH ZDWHU FROXPQ LV QRWGLVSOD\HG8VLQJ UDQJH VKLIW7KH GHIDXOW VHWWLQJ DGMXVWV WKH GLVSOD\ WR NHHS WKH ERWWRP LQ WKHORZHU KDOI RI WKH VFUHHQ $OWHUQDWLYHO\ \RX FDQ VKLIW WKH LPDJHZLWKLQ WKH FXUUHQW UDQJH)URP WKH DSSOLFDWLRQ PHQX ZLWK 5DQJH VHW WR 0DQXDO 6HOHFW 5DQJH 6HOHFW 5DQJH 6KLIW7KH UDQJH VKLIW GLDORJ LV GLVSOD\HG $GMXVW WKH VHWWLQJ WR WKH UHTXLUHG YDOXH<RX ZLOO VHH WKH UDQJH FKDQJLQJ RQ WKH VFUHHQ DV \RX DGMXVWWKH VHWWLQJ 6HOHFW %DFN RU SUHVV WKH 2N EXWWRQ WR FRQ¿UP WKH VHWWLQJ DQGFORVH WKH UDQJH VKLIW GLDORJ )LVK¿QGHU VFUROOLQJ7KH ¿VK¿QGHU LPDJH VFUROOV IURP ULJKW WR OHIW <RX FDQ SDXVH WKHVFUROOLQJ RU DGMXVW WKH VFUROO VSHHG WR HDVH SODFLQJ RI ZD\SRLQWVRU 950V RQVFUHHQ6FUROO VSHHG<RX FDQ DGMXVW WKH VSHHG DW ZKLFK WKH ¿VK¿QGHU LPDJH VFUROOV $IDVWHU VSHHG SURYLGHV PRUH GHWDLO ZKLFK PD\ EH XVHIXO ZKHQ \RXDUH ORRNLQJ IRU ¿VK ,I \RX VHOHFW D VORZHU VSHHG WKH LQIRUPDWLRQUHPDLQV RQ WKH GLVSOD\ IRU ORQJHU6FUROO SDXVH<RX FDQ SDXVH WKH GLVSOD\ WR VHH D µVQDSVKRW¶ RI WKH ¿VK¿QGHULPDJH :KHQ WKH LPDJH LV SDXVHG VFUROOLQJ VWRSV EXW WKH GHSWKLQGLFDWLRQ FRQWLQXHV WR EH XSGDWHG$GMXVWLQJ WKH VFUROO VSHHG7KH GHIDXOW VFUROO VSHHG LV  WKH VFUROO VSHHG FDQ EHDGMXVWHG IROORZLQJ WKH VWHSV EHORZ)URP WKH )LVK¿QGHU DSSOLFDWLRQ PHQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW 6FUROO 6SHHG7KH 6FUROO VSHHG QXPHULF DGMXVW FRQWURO LV GLVSOD\HG $GMXVW WKH VFUROO VSHHG WR WKH UHTXLUHG VHWWLQJ$GMXVWPHQW LQFUHPHQWV DUH DV IROORZV  LQFUHPHQWV IRU YDOXHV EHWZHHQ  DQG   LQFUHPHQWV IRU YDOXHV EHWZHHQ  DQG  6HOHFW %DFN RU 2N WR FRQ¿UP DQG FORVH WKH QXPHULF DGMXVWFRQWURO3DXVLQJ WKH VFUHHQ7KH )LVK¿QGHU DSSOLFDWLRQ FDQ EH SDXVHG)URP WKH )LVK¿QGHU DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 6FUROOLQJ VR WKDW 3DXVH LV KLJKOLJKWHG6HOHFWLQJ 6FUROOLQJ DJDLQ ZLOO UHVXPH WKH VFUROOLQJ)LVK¿QGHU DSSOLFDWLRQ 
 )LVK¿QGHU GLVSOD\ PRGHV6HOHFWLQJ D ¿VK¿QGHU GLVSOD\ PRGH)URP WKH ¿VK¿QGHU DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 'LVSOD\ 0RGH 6HOHFW 6HOHFW 0RGH 6HOHFW WKH UHTXLUHG GLVSOD\ PRGH 1RQH =RRP  $6FRSH  %RWWRP /RFN1RWH  1RW DYDLODEOH RQ WKH 'RZQ9LVLRQ70 FKDQQHO RQ'RZQ9LVLRQ70 VRQDU PRGXOHV)LVK¿QGHU ]RRP PRGH7KH ]RRP GLVSOD\ PRGH PDJQL¿HV D UHJLRQ RI WKH ¿VK¿QGHUVFUHHQ WR GLVSOD\ PRUH GHWDLO7KLV ]RRP RSWLRQ HQDEOHV \RX WR 5HSODFH WKH VWDQGDUG ¿VK¿QGHU LPDJH ZLWK WKH ]RRPHG LPDJHRU GLVSOD\ WKH ]RRPHG LPDJH DORQJVLGH WKH VWDQGDUG ¿VK¿QGHULPDJH 6HW WKH ]RRP IDFWRU WR D SUHGH¿QHG OHYHO RU DGMXVW LW PDQXDOO\ 5HSRVLWLRQ WKH ]RRPHG SRUWLRQ RI WKH LPDJH WR D GLIIHUHQW SRLQWLQ WKH GLVSOD\:KHQ WKH UDQJH LQFUHDVHV WKH DUHD VKRZQ LQ WKH ]RRP ZLQGRZDOVR LQFUHDVHV=RRP VSOLW:LWK WKH ]RRP GLVSOD\ PRGH \RX FDQ VSOLW WKH VFUHHQ DQGGLVSOD\ WKH ]RRPHG LPDJH DORQJVLGH WKH VWDQGDUG ¿VK¿QGHULPDJH =220 63/,7 7KH ]RRPHG VHFWLRQ LV LQGLFDWHG RQ WKHVWDQGDUG ¿VK¿QGHU VFUHHQ E\ D ]RRP ER[6HOHFWLQJ VSOLW VFUHHQ LQ ]RRP PRGH)URP WKH ¿VK¿QGHU DSSOLFDWLRQ ZLWK WKH ]RRP GLVSOD\ PRGHVHOHFWHG 6HOHFW 0HQX 6HOHFW 'LVSOD\ 0RGH 6HOHFW =RRP VR WKDW 6SOLW LV KLJKOLJKWHG6HOHFWLQJ =RRP ZLOO VZLWFK EHWZHHQ 6SOLW DQG )XOO$GMXVWLQJ WKH ¿VK¿QGHU ]RRP IDFWRU:KHQ WKH GLVSOD\ PRGH LV VHW WR =RRP \RX FDQ VHOHFW D ]RRPIDFWRU RU DGMXVW LW PDQXDOO\)URP WKH )LVK¿QGHU DSSOLFDWLRQ ZLWK WKH GLVSOD\ PRGH VHW WR=RRP 6HOHFW 0HQX 6HOHFW 'LVSOD\ 0RGH 6HOHFW =RRP )DFWRU 6HOHFW D SUHVHW =RRP )DFWRU [[[ RU VHOHFW 0DQXDO2QFH VHOHFWLRQ LV PDGH \RX ZLOO EH UHWXUQHG WR WKH 'LVSOD\0RGH PHQX ,I 0DQXDO LV FKRVHQ VHOHFW 0DQXDO =RRP7KH PDQXDO ]RRP IDFWRU QXPHULF DGMXVW GLDORJ LV GLVSOD\HG $GMXVW WKH VHWWLQJ WR WKH UHTXLUHG YDOXH 6HOHFW %DFN RU XVH WKH 2N EXWWRQ WR FRQ¿UP WKH VHWWLQJ$GMXVWLQJ WKH SRVLWLRQ RI WKH ¿VK¿QGHU ]RRPHG DUHD:KHQ WKH =RRP GLVSOD\ PRGH LV VHOHFWHG WKH V\VWHPDXWRPDWLFDOO\ VHOHFWV D ]RRP SRVLWLRQ VR WKDW WKH ERWWRP GHWDLOVDUH DOZD\V VKRZQ LQ WKH ORZHU KDOI RI WKH VFUHHQ ,I UHTXLUHG \RXFDQ UHSRVLWLRQ WKH SRUWLRQ RI WKH LPDJH WR EH ]RRPHG VR WKDW DQDOWHUQDWLYH DUHD LV GLVSOD\HG)URP WKH )LVK¿QGHU DSSOLFDWLRQ ZLWK =RRP GLVSOD\ PRGHVHOHFWHG 6HOHFW 0HQX 6HOHFW 'LVSOD\ 0RGH 6HOHFW =RRP 3RVLWLRQ VR WKDW 0DQ LV VHOHFWHG6HOHFWLQJ WKH ]RRP SRVLWLRQ ZLOO VZLWFK EHWZHHQ 0DQ DQG$XWR 6HOHFW 0DQ =RRP 3RV7KH =RRP SRVLWLRQ QXPHULF DGMXVW FRQWURO LV GLVSOD\HG $GMXVW WKH VHWWLQJ WR WKH UHTXLUHG YDOXH 6HOHFW %DFN RU 2N WR FORVH WKH PHQX)LVK¿QGHU $6FRSH PRGH7KH $6FRSH PRGH HQDEOHV \RX WR YLHZ D OLYH UDWKHU WKDQKLVWRULFDO LPDJH RI WKH VHDEHG DQG ¿VK GLUHFWO\ EHORZ \RXUYHVVHO7KH VWDQGDUG ¿VK¿QGHU GLVSOD\ VKRZV D KLVWRULFDO UHFRUG RI¿VK¿QGHU HFKRHV ,I UHTXLUHG \RX FDQ GLVSOD\ D OLYH LPDJH RI WKHERWWRP VWUXFWXUH DQG WKH ¿VK GLUHFWO\ EHORZ WKH WUDQVGXFHU E\XVLQJ WKH $6FRSH IHDWXUH 7KH ZLGWK RI WKH ERWWRP FRYHUHG E\WKH $6FRSH LV LQGLFDWHG DW WKH ERWWRP RI WKH ZLQGRZ $6FRSHSURYLGHV D PRUH SUHFLVH DQG HDVLHU WR LQWHUSUHW LQGLFDWLRQ RI WKHWDUJHW VWUHQJWK7KHUH DUH WKUHH $6FRSH PRGHV0RGH  0RGH  0RGH 7KH $VFRSH LPDJH LVFHQWUHG LQ WKH ZLQGRZ7KH OHIWKDQG VLGH RIWKH 0RGH  LPDJH LVH[SDQGHG WR JLYH DPRUH GHWDLOHG YLHZ7KH $VFRSH LPDJHDQJOHV RXWZDUG DVVLJQDO ZLGWK LQFUHDVHVZLWK GHSWK7KH QXPEHUV GLVSOD\HG DW WKH ERWWRP ZKHQ LQ $6FRSH PRGHLQGLFDWH WKH DSSUR[LPDWH GLDPHWHU LQ VHOHFWHG GHSWK XQLWV RIWKH FRQLFDO EHDP¶V FRYHUDJH RI WKH ERWWRP6HOHFWLQJ $6FRSH PRGH)URP WKH ¿VK¿QGHU DSSOLFDWLRQ ZLWK WKH $6FRSH GLVSOD\ PRGHVHOHFWHG D 6HULHV  F 6HULHV  H 6HULHV
 6HOHFW 0HQX 6HOHFW 'LVSOD\ 0RGH 6HOHFW 6HOHFW 0RGH 6HOHFW $6FRSH 6HOHFW $6FRSH WR GLVSOD\ WKH OLVW RI $6FRSH PRGHV 6HOHFW WKH UHTXLUHG PRGH%RWWRP /RFN7KH %RWWRP /RFN GLVSOD\ PRGH DSSOLHV D ¿OWHU ZKLFK ÀDWWHQV WKHLPDJH RI WKH ERWWRP DQG PDNHV DQ\ REMHFWV RQ RU MXVW DERYH LWHDVLHU WR VHH 7KLV IHDWXUH LV SDUWLFXODUO\ XVHIXO IRU ¿QGLQJ ¿VKWKDW IHHG FORVH WR WKH ERWWRP$GMXVWLQJ WKH UDQJH RI WKH ERWWRP ORFN LPDJH DOORZV \RX WR YLHZPRUH ERWWRP GHWDLOV <RX FDQ DOVR UHSRVLWLRQ WKH LPDJH RQ WKHVFUHHQ WR DQ\ZKHUH EHWZHHQ WKH ERWWRP RI WKH ZLQGRZ  DQGWKH PLGGOH RI WKH ZLQGRZ  XVLQJ WKH %RWWRP 6KLIW FRQWURO$GMXVWLQJ WKH ERWWRP ORFN UDQJHSRVLWLRQ)URP WKH ¿VK¿QGHU DSSOLFDWLRQ ZLWK ERWWRP ORFN GLVSOD\ PRGHVHOHFWHG 6HOHFW 0HQX 6HOHFW 'LVSOD\ 0RGH 6HOHFW %RWWRP /RFN WR VZLWFK EHWZHHQ )XOO VFUHHQ DQG 6SOLWVFUHHQ 6HOHFW %/RFN 5DQJH6HOHFWLQJ %RWWRP /RFN 5DQJH ZLOO GLVSOD\ WKH %/RFN 5DQJHQXPHULF DGMXVW GLDORJ $GMXVW WKH VHWWLQJ WR WKH UHTXLUHG YDOXH 6HOHFW %DFN RU XVH WKH 2N EXWWRQ WR FRQ¿UP WKH VHWWLQJ 6HOHFW %/RFN 6KLIW WR UHSRVLWLRQ WKH LPDJH RQVFUHHQ6HOHFWLQJ %RWWRP /RFN 6KLIW ZLOO GLVSOD\ WKH %/RFN 6KLIWQXPHULF DGMXVW GLDORJ $GMXVW WKH VHWWLQJ WR WKH UHTXLUHG YDOXH 6HOHFW %DFN RU XVH WKH 2N EXWWRQ WR FRQ¿UP WKH VHWWLQJ 3UHVHQWDWLRQ PHQX RSWLRQV7KH 3UHVHQWDWLRQ PHQX SURYLGHV DFFHVV WR IHDWXUHV ZKLFKSURYLGH DGGLWLRQDO RQVFUHHQ GHWDLO7KH WDEOH EHORZ VKRZV WKH DYDLODEOH 3UHVHQWDWLRQ RSWLRQV0HQX ,WHP 'HVFULSWLRQ 2SWLRQV7DUJHW 'HSWK ,' &RQWUROV ZKHWKHU WKHGHSWK RI LGHQWL¿HGWDUJHWV DUH GLVSOD\HG7KH OHYHO RI WDUJHWVGLVSOD\HG LV GLUHFWO\OLQNHG WR WKH OHYHO RI)LVK $ODUP VHQVLWLYLW\ 2Q 2II'HSWK /LQHV &RQWUROV ZKHWKHUKRUL]RQWDO OLQHVLQGLFDWLQJ GHSWK DUHGLVSOD\HG 2Q 2II:KLWH /LQH :KHQ VHW WR 2Q WKLVRSWLRQ GLVSOD\V D ZKLWHOLQH DORQJ WKH FRQWRXURI WKH VHDEHG 7KLVKHOSV WR GLVWLQJXLVKREMHFWV FORVH WR WKHERWWRP 2Q 2II%RWWRP )LOO :KHQ VHW WR 2Q WKLVRSWLRQ GLVSOD\V D VROLGFRORU ¿OO IRU WKH VHDEHG 2Q 2II&RORU 3DOHWWH 9DULRXV FRORU SDOHWWHVDUH DYDLODEOH WR VXLWGLIIHUHQW FRQGLWLRQVDQG \RXU SHUVRQDOSUHIHUHQFHV7UDGLWLRQDO  &+,53VRQDU FKDQQHOV &ODVVLF %OXH &ODVVLF %ODFN &ODVVLF :KLWH 6XQEXUVW *UH\VFDOH ,QYHUVH *UH\VFDOH &RSSHU 1LJKW 9LVLRQ'RZQ9LVLRQ70FKDQQHOV &RSSHU ,QY &RSSHU 6ODWH *UH\ ,QY 6ODWH *UH\6FUROO 6SHHG 6SHFLI\ WKH ¿VK¿QGHUVFUROO VSHHG  ² *DLQ FRQWUROV &RQWUROV ZKHWKHU RUQRW WKH RQVFUHHQVHQVLWLYLW\ VHWWLQJV DUHGLVSOD\HG 6KRZ GHIDXOW +LGH'DWDER[HV 6HWXS $OORZV \RX WR VHW XSDQG GLVSOD\KLGH XSWR  GDWDER[HV LQ WKHERWWRP OHIW FRUQHU RIWKH VFUHHQ 'DWDER[  6HOHFW 'DWD 'DWDER[  6HOHFW 'DWD'DWDER[  2Q 2II6HOHFW 'DWD$OORZV VHOHFWLRQ RI DGDWD W\SH E\ FDWHJRU\'DWDER[  2Q 2II6HOHFW 'DWD$OORZV VHOHFWLRQ RI DGDWD W\SH E\ FDWHJRU\)LVK¿QGHU DSSOLFDWLRQ 
1RWH  1RW DYDLODEOH RQ 'RZQ9LVLRQ70 FKDQQHOV 'HSWK DQG GLVWDQFH7KH ¿VK¿QGHU DSSOLFDWLRQ SURYLGHV D QXPEHU RI IHDWXUHV WR KHOS\RX GHWHUPLQH GHSWKV DQG GLVWDQFHV 7KHVH IHDWXUHV GHWDLOHGEHORZ'HVFULSWLRQ'HSWK UHDGLQJ ² FXUUHQW GHSWK RI ERWWRP'HSWK 7DUJHW ,' ² GHSWKV DUH GLVSOD\HG DJDLQVW UHFRJQL]HGWDUJHWV 7KH VHQVLWLYLW\ RI WKHVH ,'V LV GLUHFWO\ OLQNHG WR WKH )LVK$ODUP VHQVLWLYLW\ WKH JUHDWHU WKH ¿VK DODUP VHQVLWLYLW\ WKH JUHDWHUWKH QXPEHU RI ODEHOOHG WDUJHWV'HSWK OLQHV ² KRUL]RQWDO GDVKHG OLQHV GUDZQ DW UHJXODU LQWHUYDOV WRLQGLFDWH WKH GHSWK IURP WKH VXUIDFH+RUL]RQWDO 950 PDUNHU ² LQGLFDWHV WKH GHSWK RI WKH WDUJHW9HUWLFDO 950 PDUNHU ² LQGLFDWHV WKH GLVWDQFH EHKLQG \RXU YHVVHO&XUVRU 'HSWK ² WKLV LV WKH GHSWK RI WKH FXUVRU SRVLWLRQ&XUVRU 5DQJH ² WKLV LV WKH UDQJH IURP \RXU YHVVHO WR WKH FXUVRUSRVLWLRQ'HSWK PDUNHUV ² WKHVH QXPEHUV LQGLFDWH GHSWK0HDVXULQJ GHSWK DQG GLVWDQFH ZLWK 950<RX FDQ XVH D 9DULDEOH 5DQJH 0DUNHU 950 WR GHWHUPLQH DQREMHFWV GHSWK DQG GLVWDQFH EHKLQG \RXU YHVVHO 7KHVH PDUNHUVFRQVLVW RI D KRUL]RQWDO GHSWK OLQH DQG D YHUWLFDO GLVWDQFH OLQHHDFK RI ZKLFK DUH ODEHOOHG ZLWK WKH DSSURSULDWH PHDVXUHPHQW)URP WKH )LVK¿QGHU DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 6FUROO VR WKDW 3DXVH LV KLJKOLJKWHG 7KLV PD\ PDNH LWHDVLHU WR SRVLWLRQ WKH PDUNHU6HOHFWLQJ 6FUROO ZLOO VZLWFK WKH VFUROO EHWZHHQ 3DXVH DQG5HVXPH 6HOHFW WKH ORFDWLRQ \RX ZDQW WR SODFH WKH PDUNHU 2SHQ WKH )LVK¿QGHU FRQWH[W PHQX 6HOHFW 3ODFH 0DUNHU2QFH SODFHG \RX FDQ PRYH WKH PDUNHU E\ VHOHFWLQJ 0RYH0DUNHU IURP WKH )LVK¿QGHU FRQWH[W PHQX1RWH 7KH 950 LV RQO\ DYDLODEOH LQ %RWWRP /RFN PRGH ZKHQYLHZLQJ WKH GLVSOD\ PRGH LQ 6SOLW VFUHHQ D 6HULHV  F 6HULHV  H 6HULHV
 :D\SRLQWV LQ WKH )LVK¿QGHUDSSOLFDWLRQ3ODFLQJ D ZD\SRLQW LQ WKH )LVK¿QGHU DSSOLFDWLRQ HQDEOHV \RX WRPDUN D SRVLWLRQ VR WKDW \RX FDQ UHWXUQ WR LW ODWHU:KHQ D ZD\SRLQW LV SODFHG LWV GHWDLOV DUH DGGHG WR WKH ZD\SRLQWOLVW DQG D YHUWLFDO OLQH VKRZLQJ WKH ZD\SRLQW V\PERO LV GLVSOD\HGRQVFUHHQ 7KH ZD\SRLQWV FDQ WKHQ EH QDYLJDWHG IURP WKH &KDUWDSSOLFDWLRQ3ODFLQJ D :D\SRLQW LQ WKH ¿VK¿QGHUDSSOLFDWLRQ)URP WKH ¿VK¿QGHU DSSOLFDWLRQ 6HOHFW DQG KROG WKH UHTXLUHG ORFDWLRQ7KH ¿VK¿QGHU FRQWH[W PHQX LV GLVSOD\HG 6HOHFW 3ODFH :D\SRLQW3ODFLQJ D ZD\SRLQW XVLQJ WKH :37 EXWWRQ RULFRQ)URP WKH ¿VK¿QGHU DSSOLFDWLRQ 6HOHFW :377KH ZD\SRLQW PHQX LV GLVSOD\HG :KLOVW WKH ZD\SRLQW PHQX LV RSHQ 6HOHFW :37 DJDLQ WR SODFH D ZD\SRLQW DW \RXU YHVVHOVSRVLWLRQ RU 6HOHFW WKH DSSURSULDWH RSWLRQ 3ODFH :D\SRLQW $W 9HVVHO3ODFH :D\SRLQW $W &XUVRU RU 3ODFH :D\SRLQW $W /DWORQ3ODFLQJ D :D\SRLQW XVLQJ WKH FRQWH[W PHQX<RX FDQ SODFH D ZD\SRLQW LQ WKH ¿VK¿QGHU DSSOLFDWLRQ XVLQJ WKHFRQWH[W PHQX)URP WKH )LVK¿QGHU FRQWH[W PHQX 6HOHFW 3ODFH :D\SRLQW7KH :D\SRLQW LV SODFHG DW WKH FXUVRUV ORFDWLRQ DQG WKH QHZZD\SRLQW GLDORJ LV GLVSOD\HG 6HOHFW 2N WR DFFHSW WKH GHIDXOW ZD\SRLQW GHWDLOV RU 6HOHFW D ¿HOG WR HGLW WKH QHZ ZD\SRLQW¶V GHWDLOV 6HQVLWLYLW\ VHWWLQJV7KH 6HQVLWLYLW\ VHWWLQJV PHQX SURYLGHV DFFHVV WR IHDWXUHV DQGIXQFWLRQV ZKLFK HQKDQFH ZKDW LV GLVSOD\HG RQVFUHHQ ,Q PRVWVLWXDWLRQV GHIDXOW YDOXHV VKRXOG EH DGHTXDWH7KH WDEOH EHORZ VKRZV WKH VHQVLWLYLW\ VHWWLQJV DYDLODEOH IRU HDFKVRQDU PRGXOH W\SH'RZQ9LVLRQ70&+,53H[WHUQDO7UDGLWLRQDO H[WHUQDO7UDGLWLRQDO LQWHUQDO/HJDF\H[WHUQDO*DLQ <HV <HV <HV <HV <HV$XWR*DLQ0RGHV1R 1R 1R <HV <HV&RORU*DLQ 1R <HV <HV <HV <HV&RQWUDVW <HV 1R 1R 1R 1R79* 1R <HV <HV <HV <HV$XWR79*0RGHV1R <HV <HV 1R 1R1RLVH)LOWHU <HV 1R 1R 1R 1R&RORU7KUHVKROG<HV <HV <HV <HV <HV3RZHU0RGH 1R <HV <HV <HV <HV1RWH  $XWR 79* PRGHV DUH GLVDEOHG ZKHQ 79* LV VHW WRPDQXDO*DLQ7KH JDLQ VHWWLQJV DOWHU WKH ZD\ WKH VRQDU PRGXOH SURFHVVHVEDFNJURXQG QRLVH $GMXVWLQJ WKH JDLQ VHWWLQJV FDQ LPSURYHWKH VRQDU LPDJH KRZHYHU IRU RSWLPXP SHUIRUPDQFH LQ PRVWFRQGLWLRQV ZH UHFRPPHQG WKDW \RX XVH WKH DXWR VHWWLQJV7KH JDLQ FRQWURO GHWHUPLQHV WKH VWUHQJWK DERYH ZKLFK HFKRHVDUH GLVSOD\HG RQVFUHHQ 0DQXDO *DLQ $XWR *DLQ  0DQXDO *DLQ$XWR,Q $XWR PRGH WKH VRQDU PRGXOH DXWRPDWLFDOO\ DGMXVWV WKH JDLQVHWWLQJ WR VXLW FXUUHQW FRQGLWLRQV:KHQ FRQQHFWHG WR D /HJDF\ VRQDU PRGXOH RU D 7UDGLWLRQDOLQWHUQDO VRQDU PRGXOH  $XWR *DLQ PRGHV DUH DYDLODEOH &UXLVLQJ /RZ 7UROOLQJ 0HG )LVKLQJ )DVW0DQXDO,I QHFHVVDU\ \RX FDQ VHW WKH JDLQ FRQWUROV PDQXDOO\ EHWZHHQ DYDOXH RI  WR  7KLV YDOXH VKRXOG EH VHW KLJK HQRXJK WRVHH ¿VK DQG ERWWRP GHWDLO EXW ZLWKRXW WRR PXFK EDFNJURXQGQRLVH *HQHUDOO\ D KLJK JDLQ LV XVHG LQ GHHS DQGRU FOHDU ZDWHUD ORZ JDLQ LQ VKDOORZ DQGRU PXUN\ ZDWHU7KH QHZ YDOXHV UHPDLQ VHW HYHQ ZKHQ \RX VZLWFK RII WKH GLVSOD\2QVFUHHQ JDLQ FRQWUROV7RXFK RQO\ DQG +\EULG7RXFK PXOWLIXQFWLRQ GLVSOD\V KDYHRQVFUHHQ JDLQ FRQWUROV6HOHFWLQJ WKH RQVFUHHQ JDLQ FRQWURO ZLOO GLVSOD\ WKH JDLQ VHWWLQJV)LVK¿QGHU DSSOLFDWLRQ 
:KHQ FRQQHFWHG WR D /HJDF\ VRQDU PRGXOH RU D WUDGLWLRQDOLQWHUQDO VRQDU PRGXOH WKH DXWRPDWLF JDLQ KDV  PRGHV:KHQ FRQQHFWHG WR H[WHUQDO &+,53 H[WHUQDO 7UDGLWLRQDO RU'RZQ9LVLRQ70 VRQDU PRGXOHV JDLQ PRGHV DUH QRW UHTXLUHG:KHQ LQ PDQXDO PRGH WKH VOLGHU EDU FRQWURO LV VKRZQ(QDEOLQJ DQG GLVDEOLQJ RQVFUHHQ JDLQ FRQWUROV<RX FDQ HQDEOH DQG GLVDEOH WKH RQVFUHHQ JDLQ FRQWUROV E\IROORZLQJ WKH VWHSV EHORZ2Q D WRXFKVFUHHQ PXOWLIXQFWLRQ GLVSOD\ ZLWK WKH UHOHYDQWDSSOLFDWLRQ GLVSOD\HG 6HOHFW 0HQX 6HOHFW 3UHVHQWDWLRQ 6HOHFW *DLQ &RQWUROV6HOHFWLQJ *DLQ &RQWUROV ZLOO VZLWFK EHWZHHQ VKRZLQJ DQGKLGLQJ WKH RQVFUHHQ FRQWUROV1RWH :KHQ WKH RQVFUHHQ *DLQ FRQWUROV DUH VHW WR +LGGHQWKHQ WKH *DLQ VHWWLQJV FDQ EH DFFHVVHG GLUHFWO\ IURP WKHDSSOLFDWLRQ PHQX 0HQX ! *DLQ$GMXVWLQJ JDLQ PDQXDOO\ XVLQJ RQVFUHHQ FRQWUROV 6HOHFW WKH RQVFUHHQ *DLQ FRQWURO ORFDWHG RQ WKH OHIW KDQGVLGH RI WKH ¿VK¿QGHU DSSOLFDWLRQ 6HOHFW WKH $XWR ER[ WR VZLWFK EHWZHHQ $XWR DQG 0DQXDO JDLQ :LWK $XWR GHVHOHFWHG VHOHFW DQG KROG WKH 6OLGHU DQG PRYH/HIW WR GHFUHDVH YDOXH RU 5LJKW WR LQFUHDVH YDOXH6HWWLQJ WKH DXWR JDLQ PRGH XVLQJ WKH RQVFUHHQFRQWUROV 6HOHFW WKH RQVFUHHQ *DLQ FRQWURO ORFDWHG RQ WKH OHIW KDQGVLGH RI WKH ¿VK¿QGHU DSSOLFDWLRQ 6HOHFW WKH $XWR ER[ VR WKDW D WLFN LV GLVSOD\HG LQ WKH ER[ 6HOHFW WKH UHTXLUHG $XWR *DLQ 0RGH$GMXVWLQJ ¿VK¿QGHU JDLQ XVLQJ WKH PHQX7KH ¿VK¿QGHU JDLQ VHWWLQJ FDQ EH DFFHVVHG IURP WKH ¿VK¿QGHUPHQX)URP WKH ¿VK¿QGHU DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 6HQVLWLYLW\ 6HWWLQJV 6HOHFW *DLQ7KH *DLQ DGMXVW GLDORJ LV GLVSOD\HG $GMXVW WKH JDLQ FRQWURO WR WKH UHTXLUHG VHWWLQJ RU 6HOHFW $XWR$ WLFN LV GLVSOD\HG LQ WKH $XWR ER[ WR VLJQLI\ DXWRPDWLF JDLQLV HQDEOHG6HWWLQJ DXWR JDLQ PRGH XVLQJ WKH PHQX:KHQ XVLQJ D /HJDF\ VRQDU PRGXOH RU D 7UDGLWLRQDO LQWHUQDOVRQDU PRGXOH  $XWR *DLQ PRGHV DUH DYDLODEOH 7KH $XWR *DLQPRGH FDQ EH VHW E\ IROORZLQJ WKH VWHSV EHORZ)URP WKH )LVK¿QGHU DSSOLFDWLRQ PHQX 6HOHFW 6HQVLWLYLW\ 6HWWLQJV 6HOHFW $XWR *DLQ 0RGH 6HOHFW WKH UHTXLUHG DXWR JDLQ PRGH&RORU JDLQ7UDGLWLRQDO &+,53 DQG /HJDF\ VRQDU FKDQQHOV XVH GLIIHUHQWFRORUV WR GHWHUPLQH WKH VWUHQJWK RI DQ HFKR <RX FDQ DGMXVW WKHFRORU JDLQ PDQXDOO\ EHWZHHQ  DQG  RU VHW LW WR DXWRPDWLF 0DQXDO &RORU*DLQ$XWR &RORU *DLQ  0DQXDO &RORU*DLQ&RORU JDLQ VHWV WKH ORZHU OLPLW IRU WKH VWURQJHVW HFKR FRORU $OOHFKRHV ZLWK D VLJQDO VWUHQJWK DERYH WKLV YDOXH DUH GLVSOD\HGLQ WKH VWURQJHVW FRORU 7KRVH ZLWK D ZHDNHU YDOXH DUH GLYLGHGHTXDOO\ EHWZHHQ WKH UHPDLQLQJ FRORUV 6HWWLQJ D ORZ YDOXH SURGXFHV D ZLGH EDQG IRU WKH ZHDNHVWFRORU EXW D VPDOO VLJQDO EDQG IRU WKH RWKHU FRORUV 6HWWLQJ D KLJK YDOXH JLYHV D ZLGH EDQG IRU WKH VWURQJHVW FRORUEXW D VPDOO VLJQDO EDQG IRU WKH RWKHU FRORUV$GMXVWLQJ WKH FRORU JDLQ7R DGMXVW WKH FRORU JDLQ RQ /HJDF\ DQG 7UDGLWLRQDO DQG &+,53VRQDU FKDQQHOV IROORZ WKH VWHSV EHORZ)URP WKH )LVK¿QGHU DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 6HQVLWLYLW\ VHWWLQJV 6HOHFW &RORU *DLQ7KH FRORU JDLQ VOLGHU EDU FRQWURO LV GLVSOD\HG $GMXVW WKH FRQWURO WR WKH UHTXLUHG YDOXH 6HOHFW %DFN WR FRQ¿UP VHWWLQJ DQG FORVH VOLGHU EDU RU 6HOHFW $XWR WR HQDEOH DXWRPDWLF FRORU JDLQ&RQWUDVW'RZQ9LVLRQ70 XVHV PRQRFKURPH VKDGLQJ WR GHWHUPLQH WKHVWUHQJWK RI DQ HFKR <RX FDQ DGMXVW WKH FRQWUDVW PDQXDOO\EHWZHHQ  DQG  RU VHW LW WR DXWRPDWLF 0DQXDO &RQWUDVW $XWR &RQWUDVW  0DQXDO &RQWUDVW&RQWUDVW VHWV WKH ORZHU OLPLW IRU WKH VWURQJHVW HFKR VKDGH $OOHFKRHV ZLWK D VLJQDO VWUHQJWK DERYH WKLV YDOXH DUH GLVSOD\HGLQ WKH OLJKWHVW VKDGH 7KRVH ZLWK D ZHDNHU YDOXH DUH GLYLGHGHTXDOO\ EHWZHHQ WKH UHPDLQLQJ VKDGHV 6HWWLQJ D ORZ YDOXH SURGXFHV D ZLGH EDQG IRU WKH GDUNHVWVKDGH EXW D VPDOO VLJQDO EDQG IRU WKH RWKHU VKDGHV 6HWWLQJ D KLJK YDOXH JLYHV D ZLGH EDQG IRU WKH OLJKWHVW VKDGHEXW D VPDOO VLJQDO EDQG IRU WKH RWKHU VKDGHV$GMXVWLQJ WKH FRQWUDVW7R DGMXVW WKH FRQWUDVW VHWWLQJ IROORZ WKH VWHSV EHORZ)URP WKH )LVK¿QGHU DSSOLFDWLRQ 6HOHFW 0HQX 6HOHFW 6HQVLWLYLW\ VHWWLQJV D 6HULHV  F 6HULHV  H 6HULHV

Navigation menu