KROHNE FMCW80G74L Level Probing Radar User Manual manual english

KROHNE Level Probing Radar manual english

manual_english

5DGDU)0&:/HYHO7UDQVPLWWHUIRUKLJKSUHFLVLRQ
VWRUDJHRIOLTXLGV
237,:$9(
237,:$9(237,:$9(
237,:$9(±&)
&)&)
&)
+DQGERRN
+DQGERRN+DQGERRN
+DQGERRN
k.52+1(0$237,:$9(5HQ
$OOULJKWVUHVHUYHG,WLVSURKLELWHGWRUHSURGXFHWKLVGRFXPHQWDWLRQRUDQ\SDUWWKHUHRIZLWKRXW
WKHSULRUZULWWHQDXWKRULVDWLRQRI.52+1(0HVVWHFKQLN*PE+
6XEMHFWWRFKDQJHZLWKRXWQRWLFH

23
7
ZZZNURKQHFRP 0$237,:$9(5HQ
&RS\ULJKWE\
.52+1(0HVVWHFKQLN*PE+/XGZLJ.URKQH6WU'XLVEXUJ*HUPDQ\
,035,17
&217(176
ZZZNURKQHFRP0$237,:$9(5HQ
237,:$9(×&)
6DIHW\LQVWUXFWLRQV 
6RIWZDUHKLVWRU\  
,QWHQGHGXVH  
&HUWLILFDWLRQ  
(OHFWURPDJQHWLFFRPSDWLELOLW\  
5DGLRDSSURYDOV  
(XURSHDQ8QLRQ(8 
86$ 
&DQDGD 
6DIHW\LQVWUXFWLRQVIURPWKHPDQXIDFWXUHU  
&RS\ULJKWDQGGDWDSURWHFWLRQ  
'LVFODLPHU  
3URGXFWOLDELOLW\DQGZDUUDQW\  
,QIRUPDWLRQFRQFHUQLQJWKHGRFXPHQWDWLRQ 
:DUQLQJVDQGV\PEROVXVHG 
6DIHW\LQVWUXFWLRQVIRUWKHRSHUDWRU 
'HYLFHGHVFULSWLRQ 
6FRSHRIGHOLYHU\ 
'HYLFHGHVFULSWLRQ  
9LVXDO&KHFN  
1DPHSODWHV  
1DPHSODWHH[DPSOHV 
,QVWDOODWLRQ 
*HQHUDOQRWHVRQLQVWDOODWLRQ  
6WRUDJH  
7UDQVSRUW  
3UHLQVWDOODWLRQUHTXLUHPHQWV  
3UHVVXUHDQGWHPSHUDWXUHUDQJHV  
5HFRPPHQGHGPRXQWLQJSRVLWLRQ  
*HQHUDOGDWD 
7DQNVZLWKFRQLFDOERWWRPV  
0RXQWLQJUHVWULFWLRQV  
*HQHUDOGDWDIRU7/35GHYLFHV  
2EVWDFOHVLQWKHWDQN  
3URFHVVFRQQHFWLRQV 
+RZWRWXUQRUUHPRYHWKHVLJQDOFRQYHUWHU 
:HDWKHUSURWHFWLRQ 
+RZWRDWWDFKWKHZHDWKHUSURWHFWLRQWRWKHGHYLFH 
+RZWRRSHQWKHZHDWKHUSURWHFWLRQ  
(OHFWULFDOFRQQHFWLRQV 
6DIHW\LQVWUXFWLRQV 
(OHFWULFDOLQVWDOODWLRQZLUHORRSSRZHUHG 
&RPSDFWYHUVLRQ  
&217(176

ZZZNURKQHFRP 0$237,:$9(5HQ
237,:$9(×&)
(OHFWULFDOFRQQHFWLRQIRUFXUUHQWRXWSXW  
1RQ([GHYLFHV  
'HYLFHVIRUKD]DUGRXVORFDWLRQV 
3URWHFWLRQFDWHJRU\  
1HWZRUNV  
*HQHUDOLQIRUPDWLRQ 
3RLQWWRSRLQWFRQQHFWLRQ 
0XOWLGURSQHWZRUNV  
)LHOGEXVQHWZRUNV 
6WDUWXS 
+RZWRVWDUWWKHGHYLFH 
6WDUWXSFKHFNOLVW  
+RZWRVWDUWWKHGHYLFH  
2SHUDWLQJFRQFHSW  
'LJLWDOGLVSOD\VFUHHQ  
/RFDOGLVSOD\VFUHHQOD\RXW  
)XQFWLRQVRINH\SDGEXWWRQV 
5HPRWHFRPPXQLFDWLRQZLWK3$&7ZDUHç  
5HPRWHFRPPXQLFDWLRQZLWKWKH$06ç'HYLFH0DQDJHU 
2SHUDWLRQ 
8VHUPRGHV  
1RUPDOPRGH 
&RQILJXUDWLRQPRGH 
*HQHUDOQRWHV 
+RZWRJHWDFFHVVWRWKHFRPPLVVLRQLQJPHQX 
.H\SDGIXQFWLRQV 
0HQXRYHUYLHZ  
)XQFWLRQGHVFULSWLRQ  
)XUWKHULQIRUPDWLRQRQGHYLFHFRQILJXUDWLRQ 
4XLFN6HWXS&RPPLVVLRQLQJ 
7HVW 
3URWHFWLRQRIWKHGHYLFHVHWWLQJV  
+$57
p
QHWZRUNFRQILJXUDWLRQ 
'LVWDQFHPHDVXUHPHQW  
/HYHOPHDVXUHPHQW  
+RZWRFRQILJXUHWKHGHYLFHWRPHDVXUHYROXPHRUPDVV 
+RZWRPDNHDILOWHUWRUHPRYHUDGDUVLJQDOLQWHUIHUHQFH  
+RZWRPHDVXUHFRUUHFWO\LQWDQNVZLWKFXUYHGRUFRQLFDOERWWRPV  
6WDWXVDQGHUURUPHVVDJHV 
'HYLFHVWDWXVPDUNHUV 
(UURUKDQGOLQJ 
6HUYLFH 
3HULRGLFPDLQWHQDQFH 
+RZWRFOHDQWKHWRSVXUIDFHRIWKHGHYLFH  
+RZWRFOHDQKRUQDQWHQQDVXQGHUSURFHVVFRQGLWLRQV  
&217(176
ZZZNURKQHFRP0$237,:$9(5HQ
237,:$9(×&)
+RZWRUHSODFHGHYLFHFRPSRQHQWV  
6HUYLFHZDUUDQW\  
6SDUHSDUWVDYDLODELOLW\ 
$YDLODELOLW\RIVHUYLFHV  
5HWXUQLQJWKHGHYLFHWRWKHPDQXIDFWXUHU 
*HQHUDOLQIRUPDWLRQ 
)RUPIRUFRS\LQJWRDFFRPSDQ\DUHWXUQHGGHYLFH 
'LVSRVDO  
7HFKQLFDOGDWD 
0HDVXULQJSULQFLSOH 
7HFKQLFDOGDWD 
0LQLPXPSRZHUVXSSO\YROWDJH  
$QWHQQDVHOHFWLRQ 
*XLGHOLQHVIRUPD[LPXPRSHUDWLQJSUHVVXUH 
'LPHQVLRQVDQGZHLJKWV  
'HVFULSWLRQRI+$57LQWHUIDFH 
*HQHUDOGHVFULSWLRQ  
6RIWZDUHKLVWRU\  
&RQQHFWLRQYDULDQWV 
3RLQWWR3RLQWFRQQHFWLRQDQDORJXHGLJLWDOPRGH 
0XOWL'URSFRQQHFWLRQZLUHFRQQHFWLRQ  
+$57pGHYLFHYDULDEOHV 
)LHOG&RPPXQLFDWRU)&  
,QVWDOODWLRQ  
2SHUDWLRQ 
$VVHW0DQDJHPHQW6ROXWLRQV$06
p
 
,QVWDOODWLRQ  
2SHUDWLRQ 
3DUDPHWHUIRUWKHEDVLFFRQILJXUDWLRQ  
)LHOG'HYLFH7RRO'HYLFH7\SH0DQDJHU)'7'70 
,QVWDOODWLRQ  
2SHUDWLRQ 
+$57
p
PHQXWUHHIRU%DVLF''  
2YHUYLHZ%DVLF''PHQXWUHHSRVLWLRQVLQPHQXWUHH 
%DVLF''PHQXWUHHGHWDLOVIRUVHWWLQJV 
+$57
p
PHQXWUHHIRU$06  
2YHUYLHZ$06PHQXWUHHSRVLWLRQVLQPHQXWUHH 
$06PHQXWUHHGHWDLOVIRUVHWWLQJV 
$SSHQGL[ 
2UGHUFRGH  
6SDUHSDUWV  
$FFHVVRULHV 
*ORVVDU\  
6$)(7<,16758&7,216

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
6RIWZDUHKLVWRU\
)LUPZDUHUHYLVLRQDJUHHVZLWK1$0851( ,WLVDVHULHVRIQXPEHUVXVHGWRUHFRUGWKH
UHYLVLRQVWDWXVRIHPEHGGHGVRIWZDUHILUPZDUHLQHOHFWURQLFHTXLSPHQWDVVHPEOLHV,WJLYHV
GDWDRQWKHW\SHRIFKDQJHVPDGHDQGWKHHIIHFWWKDWFKDQJHVKDYHRQFRPSDWLELOLW\
'DWDDERXWVRIWZDUHUHYLVLRQVLVVKRZQLQPHQX,'(17)RUPRUHGDWDUHIHUWR
)XQFWLRQ
GHVFULSWLRQ
RQSDJH,ILWLVQRWSRVVLEOHWRUHIHUWRWKHGHYLFHPHQXUHFRUGWKHVHULDOQXPEHU
RIWKHGHYLFHJLYHQRQWKHGHYLFHQDPHSODWHDQGVSHDNWRWKHVXSSOLHU
,QWHQGHGXVH
7KLVUDGDUOHYHOWUDQVPLWWHUPHDVXUHVGLVWDQFHOHYHOPDVVYROXPHDQGUHIOHFWLYLW\RIOLTXLGV
SDVWHVDQGVOXUULHV
,WFDQEHLQVWDOOHGRQWDQNVUHDFWRUVDQGRSHQFKDQQHOV
5HOHDVHGDWH 3ULQWHGFLUFXLW
DVVHPEO\
)LUPZDUH
UHYLVLRQ
+DUGZDUH
UHYLVLRQ
&KDQJHVDQG
FRPSDWLELOLW\
'RFXPHQWDWLRQ
<<<<00'' &RQYHUWHU [ [[[[[ +%237,:$9(
5
6HQVRU [ [[[[[
+0,/&'GLVSOD\
RSWLRQ [ [[[[[
&$87,21
5HVSRQVLELOLW\IRUWKHXVHRIWKHPHDVXULQJGHYLFHVZLWKUHJDUGWRVXLWDELOLW\LQWHQGHGXVHDQG
FRUURVLRQUHVLVWDQFHRIWKHXVHGPDWHULDOVDJDLQVWWKHPHDVXUHGIOXLGOLHVVROHO\ZLWKWKH
RSHUDWRU
,1)250$7,21
7KHPDQXIDFWXUHULVQRWOLDEOHIRUDQ\GDPDJHUHVXOWLQJIURPLPSURSHUXVHRUXVHIRURWKHUWKDQ
WKHLQWHQGHGSXUSRVH
6$)(7<,16758&7,216
237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
&HUWLILFDWLRQ
,QDFFRUGDQFHZLWKVWDWXWRU\UHTXLUHPHQWVRIWKH(&GLUHFWLYHVWKHGHYLFHGHVFULEHGLQ
WKLVGRFXPHQWPHHWVWKHIROORZLQJVDIHW\UHTXLUHPHQWV
á(OHFWURPDJQHWLF&RPSDWLELOLW\'LUHFWLYH
á7KHVDIHW\SDUWRIWKH/RZ9ROWDJH'LUHFWLYH
)RUPRUHGDWDUHIHUWRWKH&('HFODUDWLRQRI&RQIRUPLW\IRUWKLVGHYLFH
$OOGHYLFHVPHHWWKHUHTXLUHPHQWVRI1$085*XLGHOLQHV1( 1( 1( DQG1( 
(OHFWURPDJQHWLFFRPSDWLELOLW\
7KHGHYLFHDJUHHVZLWK(OHFWURPDJQHWLF&RPSDWLELOLW\'LUHFWLYH
<RXFDQLQVWDOOWKHGHYLFHRQWDQNVRSHQYHVVHOVRUFKDQQHOVEXWWKHW\SHRIDQWHQQDPXVWDJUHH
ZLWKWKHORFDWLRQRIWKHGHYLFH)RUPRUHGDWDUHIHUWR
5DGLRDSSURYDOV
RQSDJH
'$1*(5
)RUGHYLFHVXVHGLQKD]DUGRXVDUHDVDGGLWLRQDOVDIHW\QRWHVDSSO\SOHDVHUHIHUWRWKH([
GRFXPHQWDWLRQ
,1)250$7,21
)RU6,/DSSURYHGGHYLFHVSOHDVHUHIHUWRWKHVDIHW\PDQXDO
,1)250$7,21
7KLVDJUHHVZLWK,PPXQLW\DQG(PLVVLRQVUHTXLUHPHQWVIRULQGXVWULDOHQYLURQPHQWV
6$)(7<,16758&7,216

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
5DGLRDSSURYDOV
(XURSHDQ8QLRQ(8
7KLVOHYHOWUDQVPLWWHULVDSSURYHGWREHXVHGRXWVLGHPHWDOOLFWDQNV,I\RXXVHWKHGHYLFH
RXWGRRUVUHDGWKHGHYLFHQDPHSODWHWRPDNHVXUHWKDWWKHGHYLFHFDQEHXVHGIRU\RXU
DSSOLFDWLRQ5HIHUDOVRWRWKHWDEOHWKDWIROORZV
,1)250$7,21
/35/HYHO3URELQJ5DGDU
/35/HYHO3URELQJ5DGDU/35/HYHO3URELQJ5DGDU
/35/HYHO3URELQJ5DGDUHTXLSPHQWDUHGHYLFHVIRUWKHPHDVXUHPHQWRIOHYHOLQWKHRSHQDLU
RULQDFORVHGVSDFHDPHWDOOLFWDQNHWF7/357DQN/OHYHO3URELQJ5DGDU
7/357DQN/OHYHO3URELQJ5DGDU7/357DQN/OHYHO3URELQJ5DGDU
7/357DQN/OHYHO3URELQJ5DGDUHTXLSPHQWDUH
GHYLFHVIRUWKHPHDVXUHPHQWRIOHYHOLQDFORVHGVSDFHRQO\<RXFDQXVH/35GHYLFHVIRU7/35
DSSOLFDWLRQV7KH/35DQG7/35GHYLFHVPHHWWKHUHTXLUHPHQWVRIWKH577(5DGLR(TXLSPHQW
DQG7HOHFRPPXQLFDWLRQV7HUPLQDO(TXLSPHQW'LUHFWLYHIRUXVHLQWKHPHPEHUFRXQWULHVRIWKH
(8
)RUPRUHGDWDDERXWWKHRUGHUFRGHUHIHUWR2UGHUFRGHRQSDJH
$QWHQQDW\SH 2UGHUFRGH 3HUPLWWHGIRU
3((. /HQV PP 9)[[[[[[[ 7/35
3((. /HQV PP 9)[[[[[[[ 9)[[[[[[[ /357/35
)LJXUH5DGLRDSSURYDOLQIRUPDWLRQRQWKHQDPHSODWH
7\SHFRGHGHILQHGLQRUGHU
+9,1+DUGZDUH9HUVLRQ,GHQWLILFDWLRQ1XPEHU7KLVQXPEHUJLYHVWKHUDGDUVLJQDOIUHTXHQF\*  *+]WKHOR
FDWLRQRIWKHGHYLFH7/35RU/35DQGWKHW\SHRIVLJQDOFRQYHUWHUFRPSDFW&
7/35GHYLFH+9,1*7/35&
/35GHYLFH+9,1*/35&
&(VLJQ
6$)(7<,16758&7,216
237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
7/357DQN/HYHO3URELQJ5DGDUGHYLFHVRQO\
8VHDSSURYHGSHUVRQQHOWRLQVWDOOWKHGHYLFH7KHGHYLFHDQGWKHWDQNDJUHHZLWKWKH577(
GLUHFWLYHLI\RXREH\WKHLQVWUXFWLRQVWKDWIROORZ
á7/357DQN/HYHO3URELQJ5DGDUDUHUHTXLUHGWREHLQVWDOOHGDWDSHUPDQHQWIL[HGSRVLWLRQDW
DFORVHGQRWRSHQPHWDOOLFWDQNRUUHLQIRUFHGFRQFUHWHWDQNRUVLPLODUHQFORVXUHVWUXFWXUH
PDGHRIFRPSDUDEOHDWWHQXDWLQJPDWHULDO
áIODQJHVDQGDWWDFKPHQWVRIWKH7/35HTXLSPHQWVKDOOSURYLGHWKHQHFHVVDU\PLFURZDYH
VHDOLQJE\GHVLJQ
áVLJKWJODVVHVVKDOOEHFRDWHGZLWKDPLFURZDYHSURRIFRDWLQJZKHQQHFHVVDU\LHHOHFWULFDOO\
FRQGXFWLYHFRDWLQJ
áPDQKROHVRUFRQQHFWLRQIODQJHVDWWKHWDQNVKDOOEHFORVHGWRHQVXUHDORZOHYHOOHDNDJHRI
WKHVLJQDOLQWRWKHDLURXWVLGHWKHWDQN
áZKHQHYHUSRVVLEOHPRXQWLQJRIWKH7/35HTXLSPHQWVKDOOEHRQWRSRIWKHWDQNVWUXFWXUH
ZLWKWKHRULHQWDWLRQRIWKHDQWHQQDWRSRLQWLQDGRZQZDUGGLUHFWLRQ
áLQVWDOODWLRQDQGPDLQWHQDQFHRIWKH7/35HTXLSPHQWVKDOOEHSHUIRUPHGE\SURIHVVLRQDOO\
WUDLQHGLQGLYLGXDOVRQO\
)RUGDWDDERXWKRZWRLQVWDOO(0,5),VKLHOGLQJJDVNHWVUHIHUWRWKHLQVWUXFWLRQVVXSSOLHGZLWK
WKLVDFFHVVRU\
/35/HYHO3URELQJ5DGDUGHYLFHVRQO\
8VHDSSURYHGSHUVRQQHOWRLQVWDOOWKHGHYLFH,IWKHGHYLFHLVRSHUDWHGLQWKHRSHQDLURXWGRRUV
LWDJUHHVZLWKWKH577(GLUHFWLYHLI\RXREH\WKHVHLQVWUXFWLRQV
á7KHDQWHQQDPXVWDOZD\VSRLQWGRZQZDUGV7KHERUHVLJKWGLUHFWLRQRIWKHDQWHQQDPXVWEH
YHUWLFDO1RRWKHUDQJOHVDUHSHUPLWWHG
á,QVWDOOWKHGHYLFHPRUHWKDQ NP  PLDZD\IURPUDGLRDVWURQRP\VLWHV
á,IWKHGHYLFHLV NP  PLDZD\IURPUDGLRDVWURQRP\VLWHVGRQRWLQVWDOOWKH
GHYLFHPRUHWKDQ P  IWDERYHWKHJURXQG
5DGLRTXLHW]RQHVORFDWLRQVRIUDGLRDVWURQRP\VLWHVVWDWLRQVLQ(XURSHDQGQRUWKHUQ(XUDVLD
&$87,21
,ILWLVQHFHVVDU\WRLQVWDOOWKHGHYLFHOHVVWKDQ NP  PLIURPUDGLRDVWURQRP\VLWHV\RX
PXVWJHWWKHDSSURYDORIWKHQDWLRQDOUHJXODWRU\DXWKRULW\EHIRUHLQVWDOODWLRQHJ$1)5
)UDQFH%XQGHVQHW]DJHQWXU*HUPDQ\2IFRP8QLWHG.LQJGRPHWF
&RXQWU\ 1DPHRIWKHVWDWLRQ /RFDWLRQ
/DWLWXGHM/RQJLWXGHO
)LQODQG 0HWV§KRYL 1 (
)UDQFH 3ODWHDXGH%XUH 1 (
*HUPDQ\ (IIHOVEHUJ 1 (
,WDO\ 6DUGLQLD 1 (
6SDLQ <HEHV 1 :
3LFR9HOHWD 1 :
6ZHGHQ 2QVDOD 1 (
6$)(7<,16758&7,216

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
86$
7KLVOHYHOWUDQVPLWWHULVDSSURYHGWREHXVHGRXWVLGHPHWDOOLFWDQNV,I\RXXVHWKHGHYLFHLQWKH
RSHQDLUUHDGWKHGHYLFHQDPHSODWHWRPDNHVXUHWKDWWKHGHYLFHFDQEHXVHGIRU\RXU
DSSOLFDWLRQ
7KH3URGXFW0DUNHWLQJ1DPH301RIWKLVGHYLFHLV2SWLZDYH[VHULHV
7KLVOHYHOWUDQVPLWWHULVDSSURYHGWREHXVHGRXWVLGHPHWDOOLFWDQNV,I\RXXVHWKHGHYLFHLQWKH
RSHQDLUUHDGWKHGHYLFHQDPHSODWHWRPDNHVXUHWKDWWKHGHYLFHFDQEHXVHGIRU\RXU
DSSOLFDWLRQ2QO\WKHDQWHQQDWKDWIROORZVLVSHUPLWWHGIRURSHQDLUDSSOLFDWLRQV
á9)[[[[[[[
á9)[[[[[[[
,1)250$7,21
/35/HYHO3URELQJ5DGDU
/35/HYHO3URELQJ5DGDU/35/HYHO3URELQJ5DGDU
/35/HYHO3URELQJ5DGDUHTXLSPHQWDUHGHYLFHVIRUWKHPHDVXUHPHQWRIOHYHOLQWKHRSHQDLU
RULQDFORVHGVSDFHDPHWDOOLFWDQNHWF7/357DQN/OHYHO3URELQJ5DGDU
7/357DQN/OHYHO3URELQJ5DGDU7/357DQN/OHYHO3URELQJ5DGDU
7/357DQN/OHYHO3URELQJ5DGDUHTXLSPHQWDUH
GHYLFHVIRUWKHPHDVXUHPHQWRIOHYHOLQDFORVHGVSDFHRQO\<RXFDQXVH/35GHYLFHVIRU7/35
DSSOLFDWLRQV
$QWHQQDW\SH 2UGHUFRGH 3HUPLWWHGIRU
3((. /HQV PP 9)[[[[[[[ 9)[[[[[[[ /357/35
/(*$/127,&(
7KLVGHYLFHFRPSOLHVZLWK3DUWRIWKH)&&5XOHV2SHUDWLRQLVVXEMHFWWRWKHIROORZLQJWZR
FRQGLWLRQV
7KLVGHYLFHPD\QRWFDXVHKDUPIXOLQWHUIHUHQFHDQG
7KLVGHYLFHPXVWDFFHSWDQ\LQWHUIHUHQFHUHFHLYHGLQFOXGLQJLQWHUIHUHQFHZKLFKPD\FDXVHXQ
GHVLUHGRSHUDWLRQ
&KDQJHVRUPRGLILFDWLRQVPDGHWRWKLVHTXLSPHQWQRWH[SUHVVO\DSSURYHGE\WKHPDQXIDFWXUHU
PD\YRLGWKH)&&DXWKRUL]DWLRQVWRRSHUDWHWKLVHTXLSPHQW
7KLVHTXLSPHQWKDVEHHQWHVWHGDQGIRXQGWRFRPSO\ZLWKWKHOLPLWVIRUD&ODVV%GLJLWDOGHYLFH
SXUVXDQWWR3DUWRIWKH)&&5XOHV7KHVHOLPLWVDUHGHVLJQHGWRSURYLGHUHDVRQDEOHSURWHFWLRQ
DJDLQVWKDUPIXOLQWHUIHUHQFHLQDUHVLGHQWLDOLQVWDOODWLRQ7KLVHTXLSPHQWJHQHUDWHVXVHVDQG
FDQUDGLDWHUDGLRIUHTXHQF\HQHUJ\DQGLIQRWLQVWDOOHGDQGXVHGLQDFFRUGDQFHZLWKWKH
LQVWUXFWLRQVPD\FDXVHKDUPIXOLQWHUIHUHQFHWRUDGLRFRPPXQLFDWLRQV+RZHYHUWKHUHLVQR
JXDUDQWHHWKDWLQWHUIHUHQFHZLOOQRWRFFXULQDSDUWLFXODULQVWDOODWLRQ,IWKLVHTXLSPHQWGRHV
FDXVHKDUPIXOLQWHUIHUHQFHWRUDGLRRUWHOHYLVLRQUHFHSWLRQZKLFKFDQEHGHWHUPLQHGE\WXUQLQJ
WKHHTXLSPHQWRIIDQGRQWKHXVHULVHQFRXUDJHGWRWU\WRFRUUHFWWKHLQWHUIHUHQFHE\RQHRU
PRUHRIWKHIROORZLQJPHDVXUHV
á
5HRULHQWRUUHORFDWHWKHUHFHLYLQJDQWHQQD
á
,QFUHDVHWKHVHSDUDWLRQEHWZHHQWKHHTXLSPHQWDQGUHFHLYHU
á
&RQQHFWWKHHTXLSPHQWLQWRDQRXWOHWRQDFLUFXLWGLIIHUHQWIURPWKDWWRZKLFKWKHUHFHLYHULV
FRQQHFWHG
á
&RQVXOWWKHGHDOHURUDQH[SHULHQFHGUDGLR79WHFKQLFLDQIRUKHOS
6$)(7<,16758&7,216

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
)LJXUH)&&,'
7\SHFRGHGHILQHGLQRUGHU
+9,1+DUGZDUH9HUVLRQ,GHQWLILFDWLRQ1XPEHU7KLVQXPEHUJLYHVWKHUDGDUVLJQDOIUHTXHQF\*  *+]WKHOR
FDWLRQRIWKHGHYLFH7/35RU/35DQGWKHW\SHRIVLJQDOFRQYHUWHUFRPSDFW&
7/35GHYLFH+9,1*7/35&
/35GHYLFH+9,1*/35&
)&&,'
7/35GHYLFH)&&,'4%)0&:*7
/35GHYLFH)&&,'4%)0&:*/
6$)(7<,16758&7,216

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
&DQDGD
7KLVOHYHOWUDQVPLWWHULVDSSURYHGWREHXVHGRXWVLGHPHWDOOLFWDQNV,I\RXXVHWKHGHYLFHLQWKH
RSHQDLUUHDGWKHGHYLFHQDPHSODWHWRPDNHVXUHWKDWWKHGHYLFHFDQEHXVHGIRU\RXU
DSSOLFDWLRQ
7KH3URGXFW0DUNHWLQJ1DPH301RIWKLVGHYLFHLV2SWLZDYH[VHULHV
,1)250$7,21
/35/HYHO3URELQJ5DGDU
/35/HYHO3URELQJ5DGDU/35/HYHO3URELQJ5DGDU
/35/HYHO3URELQJ5DGDUHTXLSPHQWDUHGHYLFHVIRUWKHPHDVXUHPHQWRIOHYHOLQWKHRSHQDLU
RULQDFORVHGVSDFHDPHWDOOLFWDQNHWF7/357DQN/OHYHO3URELQJ5DGDU
7/357DQN/OHYHO3URELQJ5DGDU7/357DQN/OHYHO3URELQJ5DGDU
7/357DQN/OHYHO3URELQJ5DGDUHTXLSPHQWDUH
GHYLFHVIRUWKHPHDVXUHPHQWRIOHYHOLQDFORVHGVSDFHRQO\<RXFDQXVH/35GHYLFHVIRU7/35
DSSOLFDWLRQV
$QWHQQDW\SH 2UGHUFRGH 3HUPLWWHGIRU
3((. /HQV PP 9)[[[[[[[ 7/35
3((. /HQV PP 9)[[[[[[[ 9)[[[[[[[ /357/35
/(*$/127,&(
7KLVGHYLFHFRPSOLHVZLWK,QGXVWU\&DQDGDOLFHQFHH[HPSW566VWDQGDUGV
2SHUDWLRQLVVXEMHFWWRWKHIROORZLQJFRQGLWLRQV
WKLVGHYLFHPD\QRWFDXVHKDUPIXOLQWHUIHUHQFHDQG
WKLVGHYLFHPXVWDFFHSWDQ\LQWHUIHUHQFHUHFHLYHGLQFOXGLQJLQWHUIHUHQFHWKDWPD\FDXVHXQ
GHVLUHGRSHUDWLRQ
7KLVGHYLFHDQGWKHKDQGERRNFRPSOLHVZLWKWKHUHTXLUHPHQWVRI566*HQ2SHUDWLRQLVVXEMHFW
WRWKHFRQGLWLRQVWKDWIROORZ
7KHLQVWDOODWLRQRIWKH/357/35GHYLFHVKDOOEHGRQHE\WUDLQHGLQVWDOOHUVLQVWULFWFRPSOLDQFH
ZLWKWKHPDQXIDFWXUHU
VLQVWUXFWLRQV
7KHXVHRIWKLVGHYLFHLVRQDQRLQWHUIHUHQFHQRSURWHFWLRQEDVLV7KDWLVWKHXVHUVKDOODF
FHSWRSHUDWLRQVRIKLJKSRZHUHGUDGDULQWKHVDPHIUHTXHQF\EDQGZKLFKPD\LQWHUIHUHZLWKRU
GDPDJHWKLVGHYLFH+RZHYHUGHYLFHVIRXQGWRLQWHUIHUHZLWKSULPDU\OLFHQVLQJRSHUDWLRQVZLOO
EHUHTXLUHGWREHUHPRYHGDWWKHXVHU
VH[SHQVH
7KH7/35GHYLFHVKDOOEHLQVWDOOHGDQGRSHUDWHGLQDFRPSOHWHO\HQFORVHGFRQWDLQHUWRSUHYHQW
5)HPLVVLRQVZKLFKFDQRWKHUZLVHLQWHUIHUHZLWKDHURQDXWLFDOQDYLJDWLRQ
/35GHYLFHV(QVXUHDYHUWLFDOO\GRZQZDUGRULHQWDWLRQRIWKHWUDQVPLWDQWHQQDDQGDLQVWDOOD
WLRQRQO\DWIL[HGORFDWLRQV
7KHLQVWDOOHU XVHURIWKLVGHYLFHVKDOOHQVXUHWKDWLWLVDWOHDVW NPIURPWKH'RPLQLRQ5DGLR
$VWURSK\VLFDO2EVHUYDWRU\'5$2QHDU3HQWLFWRQ%ULWLVK&ROXPELD7KHFRRUGLQDWHVRIWKH
'5$2DUHODWLWXGH
1DQGORQJLWXGH
:)RUGHYLFHVQRWPHHWLQJWKLV NP
VHSDUDWLRQHJWKRVHLQWKH2NDQDJDQ9DOOH\%ULWLVK&ROXPELDWKHLQVWDOOHU XVHUPXVWFRRU
GLQDWHZLWKDQGREWDLQWKHZULWWHQFRQFXUUHQFHRIWKH'LUHFWRURIWKH'5$2EHIRUHWKHHTXLS
PHQWFDQEHLQVWDOOHGRURSHUDWHG7KH'LUHFWRURIWKH'5$2PD\EHFRQWDFWHGDW
WHORUID[$OWHUQDWLYHO\WKH0DQDJHU5HJXODWRU\6WDQGDUGV,QGXVWU\&DQDGD
PD\EHFRQWDFWHG
6$)(7<,16758&7,216

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
7KLVOHYHOWUDQVPLWWHULVDSSURYHGWREHXVHGRXWVLGHPHWDOOLFWDQNV,I\RXXVHWKHGHYLFHLQWKH
RSHQDLUUHDGWKHGHYLFHQDPHSODWHWRPDNHVXUHWKDWWKHGHYLFHFDQEHXVHGIRU\RXU
DSSOLFDWLRQ2QO\WKHDQWHQQDWKDWIROORZVLVSHUPLWWHGIRURSHQDLUDSSOLFDWLRQV
á9)[[[[[[[
á9)[[[[[[[
)LJXUH,&QXPEHU
7\SHFRGHGHILQHGLQRUGHU
+9,1+DUGZDUH9HUVLRQ,GHQWLILFDWLRQ1XPEHU7KLVQXPEHUJLYHVWKHUDGDUVLJQDOIUHTXHQF\*  *+]WKHOR
FDWLRQRIWKHGHYLFH7/35RU/35DQGWKHW\SHRIVLJQDOFRQYHUWHUFRPSDFW&
7/35GHYLFH+9,1*7/35&
/35GHYLFH+9,1*/35&
,&QXPEHU
7/35GHYLFH')0&:*7
/35GHYLFH')0&:*/
6$)(7<,16758&7,216

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
6DIHW\LQVWUXFWLRQVIURPWKHPDQXIDFWXUHU
&RS\ULJKWDQGGDWDSURWHFWLRQ
7KHFRQWHQWVRIWKLVGRFXPHQWKDYHEHHQFUHDWHGZLWKJUHDWFDUH1HYHUWKHOHVVZHSURYLGHQR
JXDUDQWHHWKDWWKHFRQWHQWVDUHFRUUHFWFRPSOHWHRUXSWRGDWH
7KHFRQWHQWVDQGZRUNVLQWKLVGRFXPHQWDUHVXEMHFWWRFRS\ULJKW&RQWULEXWLRQVIURPWKLUG
SDUWLHVDUHLGHQWLILHGDVVXFK5HSURGXFWLRQSURFHVVLQJGLVVHPLQDWLRQDQGDQ\W\SHRIXVH
EH\RQGZKDWLVSHUPLWWHGXQGHUFRS\ULJKWUHTXLUHVZULWWHQDXWKRULVDWLRQIURPWKHUHVSHFWLYH
DXWKRUDQGRUWKHPDQXIDFWXUHU
7KHPDQXIDFWXUHUWULHVDOZD\VWRREVHUYHWKHFRS\ULJKWVRIRWKHUVDQGWRGUDZRQZRUNVFUHDWHG
LQKRXVHRUZRUNVLQWKHSXEOLFGRPDLQ
7KHFROOHFWLRQRISHUVRQDOGDWDVXFKDVQDPHVVWUHHWDGGUHVVHVRUHPDLODGGUHVVHVLQWKH
PDQXIDFWXUHUVGRFXPHQWVLVDOZD\VRQDYROXQWDU\EDVLVZKHQHYHUSRVVLEOH:KHQHYHU
IHDVLEOHLWLVDOZD\VSRVVLEOHWRPDNHXVHRIWKHRIIHULQJVDQGVHUYLFHVZLWKRXWSURYLGLQJDQ\
SHUVRQDOGDWD
:HGUDZ\RXUDWWHQWLRQWRWKHIDFWWKDWGDWDWUDQVPLVVLRQRYHUWKH,QWHUQHWHJZKHQ
FRPPXQLFDWLQJE\HPDLOPD\LQYROYHJDSVLQVHFXULW\,WLVQRWSRVVLEOHWRSURWHFWVXFKGDWD
FRPSOHWHO\DJDLQVWDFFHVVE\WKLUGSDUWLHV
:HKHUHE\H[SUHVVO\SURKLELWWKHXVHRIWKHFRQWDFWGDWDSXEOLVKHGDVSDUWRIRXUGXW\WRSXEOLVK
DQLPSULQWIRUWKHSXUSRVHRIVHQGLQJXVDQ\DGYHUWLVLQJRULQIRUPDWLRQDOPDWHULDOVWKDWZHKDYH
QRWH[SUHVVO\UHTXHVWHG
'LVFODLPHU
7KHPDQXIDFWXUHUZLOOQRWEHOLDEOHIRUDQ\GDPDJHRIDQ\NLQGE\XVLQJLWVSURGXFWLQFOXGLQJ
EXWQRWOLPLWHGWRGLUHFWLQGLUHFWRULQFLGHQWDODQGFRQVHTXHQWLDOGDPDJHV
7KLVGLVFODLPHUGRHVQRWDSSO\LQFDVHWKHPDQXIDFWXUHUKDVDFWHGRQSXUSRVHRUZLWKJURVV
QHJOLJHQFH,QWKHHYHQWDQ\DSSOLFDEOHODZGRHVQRWDOORZVXFKOLPLWDWLRQVRQLPSOLHGZDUUDQWLHV
RUWKHH[FOXVLRQRIOLPLWDWLRQRIFHUWDLQGDPDJHV\RXPD\LIVXFKODZDSSOLHVWR\RXQRWEH
VXEMHFWWRVRPHRUDOORIWKHDERYHGLVFODLPHUH[FOXVLRQVRUOLPLWDWLRQV
$Q\SURGXFWSXUFKDVHGIURPWKHPDQXIDFWXUHULVZDUUDQWHGLQDFFRUGDQFHZLWKWKHUHOHYDQW
SURGXFWGRFXPHQWDWLRQDQGRXU7HUPVDQG&RQGLWLRQVRI6DOH
7KHPDQXIDFWXUHUUHVHUYHVWKHULJKWWRDOWHUWKHFRQWHQWRILWVGRFXPHQWVLQFOXGLQJWKLV
GLVFODLPHULQDQ\ZD\DWDQ\WLPHIRUDQ\UHDVRQZLWKRXWSULRUQRWLILFDWLRQDQGZLOOQRWEHOLDEOH
LQDQ\ZD\IRUSRVVLEOHFRQVHTXHQFHVRIVXFKFKDQJHV
6$)(7<,16758&7,216

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
3URGXFWOLDELOLW\DQGZDUUDQW\
7KHRSHUDWRUVKDOOEHDUUHVSRQVLELOLW\IRUWKHVXLWDELOLW\RIWKHGHYLFHIRUWKHVSHFLILFSXUSRVH
7KHPDQXIDFWXUHUDFFHSWVQROLDELOLW\IRUWKHFRQVHTXHQFHVRIPLVXVHE\WKHRSHUDWRU,PSURSHU
LQVWDOODWLRQRURSHUDWLRQRIWKHGHYLFHVV\VWHPVZLOOFDXVHWKHZDUUDQW\WREHYRLG7KH
UHVSHFWLYH6WDQGDUG7HUPVDQG&RQGLWLRQVZKLFKIRUPWKHEDVLVIRUWKHVDOHVFRQWUDFWVKDOO
DOVRDSSO\
,QIRUPDWLRQFRQFHUQLQJWKHGRFXPHQWDWLRQ
7RSUHYHQWDQ\LQMXU\WRWKHXVHURUGDPDJHWRWKHGHYLFHLWLVHVVHQWLDOWKDW\RXUHDGWKH
LQIRUPDWLRQLQWKLVGRFXPHQWDQGREVHUYHDSSOLFDEOHQDWLRQDOVWDQGDUGVVDIHW\UHTXLUHPHQWV
DQGDFFLGHQWSUHYHQWLRQUHJXODWLRQV
,IWKLVGRFXPHQWLVQRWLQ\RXUQDWLYHODQJXDJHDQGLI\RXKDYHDQ\SUREOHPVXQGHUVWDQGLQJWKH
WH[WZHDGYLVH\RXWRFRQWDFW\RXUORFDORIILFHIRUDVVLVWDQFH7KHPDQXIDFWXUHUFDQQRWDFFHSW
UHVSRQVLELOLW\IRUDQ\GDPDJHRULQMXU\FDXVHGE\PLVXQGHUVWDQGLQJRIWKHLQIRUPDWLRQLQWKLV
GRFXPHQW
7KLVGRFXPHQWLVSURYLGHGWRKHOS\RXHVWDEOLVKRSHUDWLQJFRQGLWLRQVZKLFKZLOOSHUPLWVDIHDQG
HIILFLHQWXVHRIWKLVGHYLFH6SHFLDOFRQVLGHUDWLRQVDQGSUHFDXWLRQVDUHDOVRGHVFULEHGLQWKH
GRFXPHQWZKLFKDSSHDULQWKHIRUPRILFRQVDVVKRZQEHORZ
6$)(7<,16758&7,216

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
:DUQLQJVDQGV\PEROVXVHG
6DIHW\ZDUQLQJVDUHLQGLFDWHGE\WKHIROORZLQJV\PEROV
á+$1'/,1*
+$1'/,1*+$1'/,1*
+$1'/,1*
7KLVV\PEROGHVLJQDWHVDOOLQVWUXFWLRQVIRUDFWLRQVWREHFDUULHGRXWE\WKHRSHUDWRULQWKH
VSHFLILHGVHTXHQFH
K
5(68/7
5(68/75(68/7
5(68/7
7KLVV\PEROUHIHUVWRDOOLPSRUWDQWFRQVHTXHQFHVRIWKHSUHYLRXVDFWLRQV
6DIHW\LQVWUXFWLRQVIRUWKHRSHUDWRU
'$1*(5
7KLVZDUQLQJUHIHUVWRWKHLPPHGLDWHGDQJHUZKHQZRUNLQJZLWKHOHFWULFLW\
'$1*(5
7KLVZDUQLQJUHIHUVWRWKHLPPHGLDWHGDQJHURIEXUQVFDXVHGE\KHDWRUKRWVXUIDFHV
'$1*(5
7KLVZDUQLQJUHIHUVWRWKHLPPHGLDWHGDQJHUZKHQXVLQJWKLVGHYLFHLQDKD]DUGRXVDWPRVSKHUH
'$1*(5
7KHVHZDUQLQJVPXVWEHREVHUYHGZLWKRXWIDLO(YHQSDUWLDOGLVUHJDUGRIWKLVZDUQLQJFDQOHDGWR
VHULRXVKHDOWKSUREOHPVDQGHYHQGHDWK7KHUHLVDOVRWKHULVNRIVHULRXVO\GDPDJLQJWKHGHYLFH
RUSDUWVRIWKHRSHUDWRUVSODQW
:$51,1*
'LVUHJDUGLQJWKLVVDIHW\ZDUQLQJHYHQLIRQO\LQSDUWSRVHVWKHULVNRIVHULRXVKHDOWKSUREOHPV
7KHUHLVDOVRWKHULVNRIGDPDJLQJWKHGHYLFHRUSDUWVRIWKHRSHUDWRUVSODQW
&$87,21
'LVUHJDUGLQJWKHVHLQVWUXFWLRQVFDQUHVXOWLQGDPDJHWRWKHGHYLFHRUWRSDUWVRIWKHRSHUDWRUV
SODQW
,1)250$7,21
7KHVHLQVWUXFWLRQVFRQWDLQLPSRUWDQWLQIRUPDWLRQIRUWKHKDQGOLQJRIWKHGHYLFH
/(*$/127,&(
7KLVQRWHFRQWDLQVLQIRUPDWLRQRQVWDWXWRU\GLUHFWLYHVDQGVWDQGDUGV
:$51,1*
,QJHQHUDOGHYLFHVIURPWKHPDQXIDFWXUHUPD\RQO\EHLQVWDOOHGFRPPLVVLRQHGRSHUDWHGDQG
PDLQWDLQHGE\SURSHUO\WUDLQHGDQGDXWKRUL]HGSHUVRQQHO
7KLVGRFXPHQWLVSURYLGHGWRKHOS\RXHVWDEOLVKRSHUDWLQJFRQGLWLRQVZKLFKZLOOSHUPLWVDIHDQG
HIILFLHQWXVHRIWKLVGHYLFH
'(9,&('(6&5,37,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
6FRSHRIGHOLYHU\
,1)250$7,21
'RDFKHFNRIWKHSDFNLQJOLVWWRPDNHVXUHWKDW\RXKDYHDOOWKHHOHPHQWVJLYHQLQWKHRUGHU
6FRSHRIGHOLYHU\±K\JLHQLFDQWHQQD
)LJXUH6FRSHRIGHOLYHU\±K\JLHQLFDQWHQQD
6LJQDOFRQYHUWHUDQGDQWHQQDLQFRPSDFWYHUVLRQ
4XLFN6WDUW
'9'520LQFOXGLQJ+DQGERRN4XLFN6WDUW7HFKQLFDO'DWDVKHHWDQGUHODWHGVRIWZDUH
,1)250$7,21
1RVSHFLDOWRROVRUWUDLQLQJUHTXLUHG
'(9,&('(6&5,37,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
'HYLFHGHVFULSWLRQ
7KLVGHYLFHLVD *+])0&:UDGDUOHYHOWUDQVPLWWHU,WLVDQRQFRQWDFWWHFKQRORJ\DQGLV
ZLUHORRSSRZHUHG,WLVGHVLJQHGWRPHDVXUHWKHGLVWDQFHOHYHOPDVVYROXPHDQGUHIOHFWLYLW\RI
OLTXLGVSDVWHVDQGVOXUULHV
5DGDUOHYHOWUDQVPLWWHUVXVHDQDQWHQQDWRHPLWDVLJQDOWRWKHVXUIDFHRIWKHPHDVXUHGSURGXFW
7KHGHYLFHKDVPDQ\DQWHQQDVDYDLODEOH7KXVLWFDQPHDVXUHPRVWSURGXFWVHYHQLQGLIILFXOW
FRQGLWLRQV$OVRUHIHUWR
7HFKQLFDOGDWD
RQSDJH
,ILWLVRUGHUHGZLWKWKHDSSOLFDEOHRSWLRQVLWFDQEHFHUWLILHGIRUXVHLQKD]DUGRXVDUHDV
7KHVHRXWSXWRSWLRQVDUHDYDLODEOH
áRXWSXW P$+$57
áZLUH)281'$7,21)LHOGEXVRXWSXW
áZLUH352),%863$RXWSXW
7KHVHDFFHVVRULHVDUHDYDLODEOH
á6WDLQOHVVVWHHOZHDWKHUSURWHFWLRQ
á56 +$57
FRQYHUWHU9,$725
á86% +$57
FRQYHUWHU
,1)250$7,21
)RUPRUHGDWDRQDFFHVVRULHVUHIHUWR$FFHVVRULHVRQSDJH
'(9,&('(6&5,37,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
9LVXDO&KHFN
,IWKHGHYLFHLVVXSSOLHGZLWKDQ).0)30JDVNHWWKHUHLVQRV\PERORQWKHVLGHRIWKHSURFHVV
FRQQHFWLRQ
:$51,1*
,IWKHGLVSOD\VFUHHQJODVVLVEURNHQGRQRWWRXFK
,1)250$7,21
,QVSHFWWKHSDFNDJLQJFDUHIXOO\IRUGDPDJHVRUVLJQVRIURXJKKDQGOLQJ5HSRUWGDPDJHWRWKH
FDUULHUDQGWRWKHORFDORIILFHRIWKHPDQXIDFWXUHU
)LJXUH9LVXDOFKHFN
'HYLFHQDPHSODWHIRUPRUHGDWDUHIHUWR
1DPHSODWHH[DPSOHV
RQSDJH
3URFHVVFRQQHFWLRQGDWDVL]HDQGSUHVVXUHUDWLQJPDWHULDOUHIHUHQFHDQGKHDWQXPEHU
*DVNHWPDWHULDOGDWD±UHIHUWRWKHLOOXVWUDWLRQWKDWIROORZV
,1)250$7,21
/RRNDWWKHGHYLFHQDPHSODWHWRHQVXUHWKDWWKHGHYLFHLVGHOLYHUHGDFFRUGLQJWR\RXURUGHU
&KHFNIRUWKHFRUUHFWVXSSO\YROWDJHSULQWHGRQWKHQDPHSODWH
,1)250$7,21
&RPSDUHWKHPDWHULDOUHIHUHQFHVRQWKHVLGHRIWKHSURFHVVFRQQHFWLRQZLWKWKHRUGHU
'(9,&('(6&5,37,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
1DPHSODWHV
1DPHSODWHH[DPSOHV
,1)250$7,21
/RRNDWWKHGHYLFHQDPHSODWHWRHQVXUHWKDWWKHGHYLFHLVGHOLYHUHGDFFRUGLQJWR\RXURUGHU
&KHFNIRUWKHFRUUHFWVXSSO\YROWDJHSULQWHGRQWKHQDPHSODWH
)LJXUH&RPSDFW&DQGUHPRWH)YHUVLRQV1RQ([QDPHSODWHDWWDFKHGWRWKHKRXVLQJ
&DEOHHQWU\VL]H
,QSXW RXWSXWRSWLRQ
'HJUHHRILQJUHVVSURWHFWLRQDFFRUGLQJWR(1  ,(& 
&XVWRPHUWDJQXPEHU
'DWHRIPDQXIDFWXUH
2UGHUQXPEHU
7\SHFRGHGHILQHGLQRUGHU
0RGHOQDPHDQGQXPEHU7KHODVWOHWWHU;LVHLWKHU
& FRPSDFWYHUVLRQRU
) UHPRWHILHOGYHUVLRQ
&RPSDQ\QDPHDQGDGGUHVV
'(9,&('(6&5,37,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
)LJXUH5HPRWH)YHUVLRQ1RQ([QDPHSODWHDWWDFKHGWRWKHDQWHQQDDVVHPEO\
&DEOHHQWU\VL]H
'HJUHHRILQJUHVVSURWHFWLRQDFFRUGLQJWR(1  ,(& 
'DWHRIPDQXIDFWXUH
2UGHUQXPEHU
7\SHFRGHGHILQHGLQRUGHU
0RGHOQDPHDQGQXPEHU
&RPSDQ\QDPHDQGDGGUHVV
,167$//$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
*HQHUDOQRWHVRQLQVWDOODWLRQ
6WRUDJH
á6WRUHWKHGHYLFHLQDGU\DQGGXVWIUHHORFDWLRQ
á.HHSWKHFRQYHUWHURXWRIWKHVXQOLJKW
á6WRUHWKHGHYLFHLQLWVRULJLQDOSDFNLQJ
,1)250$7,21
,QVSHFWWKHSDFNDJLQJFDUHIXOO\IRUGDPDJHVRUVLJQVRIURXJKKDQGOLQJ5HSRUWGDPDJHWRWKH
FDUULHUDQGWRWKHORFDORIILFHRIWKHPDQXIDFWXUHU
,1)250$7,21
'RDFKHFNRIWKHSDFNLQJOLVWWRPDNHVXUHWKDW\RXKDYHDOOWKHHOHPHQWVJLYHQLQWKHRUGHU
,1)250$7,21
/RRNDWWKHGHYLFHQDPHSODWHWRHQVXUHWKDWWKHGHYLFHLVGHOLYHUHGDFFRUGLQJWR\RXURUGHU
&KHFNIRUWKHFRUUHFWVXSSO\YROWDJHSULQWHGRQWKHQDPHSODWH
:$51,1*
'RQRWNHHSWKHGHYLFHLQDYHUWLFDOSRVLWLRQ7KLVZLOOGDPDJHWKHDQWHQQDDQGWKHGHYLFHZLOOQRW
PHDVXUHFRUUHFWO\
)LJXUH6WRUDJHFRQGLWLRQV
:KHQ\RXSXWWKHGHYLFHLQWRVWRUDJHGRQRWNHHSLWLQDYHUWLFDOSRVLWLRQ
3XWWKHGHYLFHRQLWVVLGH:HUHFRPPHQGWKDW\RXXVHWKHSDFNDJLQJLQZKLFKLWZDVGHOLYHUHG
6WRUDJHWHPSHUDWXUHUDQJH& )
,167$//$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
7UDQVSRUW
3UHLQVWDOODWLRQUHTXLUHPHQWV
á0DNHVXUHWKDWWKHUHLVVXIILFLHQWVSDFHRQDOOVLGHV
á3URWHFWWKHVLJQDOFRQYHUWHUIURPGLUHFWVXQOLJKW
á'RQRWVXEMHFWWKHVLJQDOFRQYHUWHUWRKHDY\YLEUDWLRQV
)LJXUH+RZWROLIWWKHGHYLFH
5HPRYHWKHFRQYHUWHUEHIRUH\RXOLIWWKHGHYLFHZLWKDKRLVW
:$51,1*
/LIWWKHGHYLFHFDUHIXOO\WRSUHYHQWGDPDJHWRWKHDQWHQQD
,1)250$7,21
2EH\WKHSUHFDXWLRQVWKDWIROORZWRPDNHVXUHWKDWWKHGHYLFHLVFRUUHFWO\LQVWDOOHG
,167$//$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
3UHVVXUHDQGWHPSHUDWXUHUDQJHV
)LJXUH3UHVVXUHDQGWHPSHUDWXUHUDQJHV
3URFHVVFRQQHFWLRQWHPSHUDWXUH
).0)30JDVNHW& ).DOUH]JDVNHW& )
(3'0JDVNHW& )
([GHYLFHVVHHVXSSOHPHQWDU\RSHUDWLQJLQVWUXFWLRQV
$PELHQWWHPSHUDWXUHIRURSHUDWLRQRIWKHGLVSOD\
& )
,IWKHDPELHQWWHPSHUDWXUHLVQRWEHWZHHQWKHVHOLPLWVWKHGLVSOD\VFUHHQVZLWFKHVRIIDXWRPDWLFDOO\
$PELHQWWHPSHUDWXUH
1RQ([GHYLFHV& )
([GHYLFHVVHHVXSSOHPHQWDU\RSHUDWLQJLQVWUXFWLRQV
:$51,1*
7KHSURFHVVFRQQHFWLRQWHPSHUDWXUHUDQJHPXVWDJUHHZLWKWKHWHPSHUDWXUHOLPLWVRIWKH
JDVNHWPDWHULDO7KHRSHUDWLQJSUHVVXUHUDQJHLVVXEMHFWWRWKHSURFHVVFRQQHFWLRQXVHGDQGWKH
IODQJHWHPSHUDWXUH
$QWHQQDW\SH 0D[LPXPSURFHVVFRQQHFWLRQ
WHPSHUDWXUH
0D[LPXPRSHUDWLQJSUHVVXUH
>&@ >)@ EDUJ SVLJ
+\JLHQLF    
,167$//$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
5HFRPPHQGHGPRXQWLQJSRVLWLRQ
:HUHFRPPHQGWKDW\RXSUHSDUHWKHLQVWDOODWLRQZKHQWKHWDQNLVHPSW\
*HQHUDOGDWD
&$87,21
)ROORZWKHVHUHFRPPHQGDWLRQVWRPDNHVXUHWKDWWKHGHYLFHPHDVXUHVFRUUHFWO\7KH\KDYHDQ
HIIHFWRQWKHSHUIRUPDQFHRIWKHGHYLFH
,1)250$7,21
,ISRVVLEOHGRQRWLQVWDOODQR]]OHRQWKHWDQNFHQWHUOLQH
)LJXUH5HFRPPHQGHGQR]]OHSRVLWLRQIRUOLTXLGVSDVWHVDQGVOXUULHV
1R]]OHVIRU'1+\JLHQLFDQWHQQD
7DQNKHLJKW
7DQNGLDPHWHU
0LQLPXPGLVWDQFHRIQR]]OHIURPWKHWDQNZDOOWDQNKHLJKW
0D[LPXPGLVWDQFHRIQR]]OHIURPWKHWDQNZDOOWDQNGLDPHWHU
0LQLPXPGLVWDQFHRIQR]]OHIURPWKHWDQNZDOOWDQNKHLJKW
0D[LPXPGLVWDQFHRIQR]]OHIURPWKHWDQNZDOOWDQNGLDPHWHU
,167$//$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
7DQNVZLWKFRQLFDOERWWRPV
)LJXUH0RUHWKDQ)0&:UDGDUOHYHOPHWHUFDQEHRSHUDWHGLQDWDQN
)LJXUH7DQNVZLWKGLVKVKDSHGRUFRQLFDOERWWRPV
'LVKVKDSHGRUFRQLFDOERWWRPVKDYHDQHIIHFWRQWKHPHDVXULQJUDQJH7KHGHYLFHFDQQRWPHDVXUHWRWKHERWWRPRIWKH
WDQN
$[LVRIUDGDUEHDP
0LQLPXPOHYHOUHDGLQJ
,167$//$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
0RXQWLQJUHVWULFWLRQV
:HUHFRPPHQGWKDW\RXSUHSDUHWKHLQVWDOODWLRQZKHQWKHWDQNLVHPSW\
*HQHUDOGDWDIRU7/35GHYLFHV
2EVWDFOHVLQWKHWDQN
2EVWDFOHVLQWKHWDQNFDQFDXVHSDUDVLWLFVLJQDOV7KH\KDYHDQHIIHFWRQWKHSHUIRUPDQFHRIWKH
GHYLFH
'RDQ(PSW\6SHFWUXPUHFRUGLQJUHIHUWR2SHUDWLRQ
2SHUDWLRQ2SHUDWLRQ
2SHUDWLRQWRUHPRYHSDUDVLWLFVLJQDOVZLWKDILOWHU
&$87,21
)ROORZWKHVHUHFRPPHQGDWLRQVWRPDNHVXUHWKDWWKHGHYLFHPHDVXUHVFRUUHFWO\7KH\KDYHDQ
HIIHFWRQWKHSHUIRUPDQFHRIWKHGHYLFH
)LJXUH*HQHUDO,QVWDOODWLRQUHFRPPHQGDWLRQVIRU7/35GHYLFHV
'RQRWWLOWWKHGHYLFHPRUHWKDQ
:HUHFRPPHQGWKDW\RXGRDQHPSW\VSHFWUXPUHFRUGLQJLIWKHUHDUHWRRPDQ\REVWDFOHVLQWKHUDGDUEHDPIRUPRUH
GDWDUHIHUWR
+RZWRPDNHDILOWHUWRUHPRYHUDGDUVLJQDOLQWHUIHUHQFH
RQSDJH
 PP PD[IRUKLJKGLHOHFWULFFRQVWDQWOLTXLGV
&XUYHGDQGFRQLFDOWDQNERWWRPV)RUILQHDGMXVWPHQWRIWKHGHYLFHUHIHUWR
+RZWRPHDVXUHFRUUHFWO\LQWDQNVZLWK
FXUYHGRUFRQLFDOERWWRPV
RQSDJH
%HDPUDGLXVLQFUHPHQWVRI PPPRUIW
&$87,21
,IWKHUHDUHSDUDVLWLFVLJQDOVWKHGHYLFHZLOOQRWPHDVXUHFRUUHFWO\3DUDVLWLFVLJQDOVDUHFDXVHG
E\
á
2EMHFWVLQWKHWDQN
á
6KDUSFRUQHUVWKDWDUHSHUSHQGLFXODUWRWKHSDWKRIWKHUDGDUEHDP
,167$//$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
)LJXUH2EVWDFOHVLQWKHWDQN
'RQRWSXWWKHGHYLFHGLUHFWO\DERYHREVWDFOHVDJLWDWRUVXSSRUWEHDPVKHDWLQJWXEHVHWF3DUDVLWLFVLJQDOVIURPREVWD
FOHVZLOOFDXVHWKHGHYLFHWRPHDVXUHLQFRUUHFWO\
6ROXWLRQ3XWWKHGHYLFHRQDQRWKHUSURFHVVFRQQHFWLRQDZD\IURPREVWDFOHV
6ROXWLRQ$WWDFKWKHGHYLFHWRWKHVLGHRIWKHWDQNDQGXVHDQ/EHQGULJKWDQJOHH[WHQVLRQ
&$87,21
'RQRWSXWWKHGHYLFHQHDUWRWKHSURGXFWLQOHW,IWKHSURGXFWWKDWHQWHUVWKHWDQNWRXFKHVWKH
DQWHQQDWKHGHYLFHZLOOPHDVXUHLQFRUUHFWO\,IWKHSURGXFWILOOVWKHWDQNGLUHFWO\EHORZWKH
DQWHQQDWKHGHYLFHZLOODOVRPHDVXUHLQFRUUHFWO\
)LJXUH3URGXFWLQOHWV
7KHGHYLFHLVLQWKHFRUUHFWSRVLWLRQ
7KHGHYLFHLVWRRQHDUWRWKHSURGXFWLQOHW
,167$//$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
3URFHVVFRQQHFWLRQV
(TXLSPHQWQHHGHG
á'HYLFH
á*DVNHW
á)ODQJHEROWVQRWVXSSOLHG
á:UHQFKQRWVXSSOLHG
+RZWRDWWDFKDGHYLFHZLWKD%LRFRQWUROFRQQHFWLRQ
á0DNHVXUHWKDWWKHIODQJHRQWKHQR]]OHLVOHYHO
á0DNHVXUHWKDW\RXXVHWKHDSSOLFDEOHJDVNHWIRUWKHIODQJHGLPHQVLRQVDQGWKHSURFHVV
á$OLJQWKHJDVNHWFRUUHFWO\RQWKHIODQJHIDFLQJRIWKHQR]]OH
á/RZHUWKHDQWHQQDFDUHIXOO\LQWRWKHWDQN
á7LJKWHQWKHIODQJHEROWV
K
5HIHUWRORFDOUXOHVDQGUHJXODWLRQVIRUWKHFRUUHFWWRUTXHWRDSSO\WRWKHEROWV
5HTXLUHPHQWVIRUK\JLHQLFFRQQHFWLRQV%LR&RQWURO
)LJXUH%LR&RQWUROFRQQHFWLRQ
%LR&RQWUROFRQQHFWLRQRQWKHWDQN
)ODQJHEROWV
,1)250$7,21
0D[LPXPKHLJKWRISURFHVVFRQQHFWLRQ PP 
7RPDNHWKHFOHDQLQJRIWKHDQWHQQDHDVLHU
DWWDFKWKHGHYLFHWRDVKRUWVRFNHW
,167$//$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
(TXLSPHQWQHHGHG
á'HYLFH
á*DVNHWQRWVXSSOLHG
á%DQGFODPSQRWVXSSOLHG
+RZWRDWWDFKDGHYLFHZLWKD7UL&ODPSFRQQHFWLRQ
á0DNHVXUHWKDWWKHWDQNFRQQHFWLRQLVOHYHO
á0DNHVXUHWKDW\RXXVHWKHDSSOLFDEOHJDVNHWIRUWKHFRQQHFWLRQGLPHQVLRQVDQGWKHSURFHVV
á$OLJQWKHJDVNHWFRUUHFWO\
á/RZHUWKHDQWHQQDFDUHIXOO\LQWRWKHWDQN
á$WWDFKWKHEDQGFODPSWRWKHSURFHVVFRQQHFWLRQ
á7LJKWHQWKHEDQGFODPS
5HTXLUHPHQWVIRUK\JLHQLFFRQQHFWLRQV7UL&ODPS
)LJXUH7UL&ODPSFRQQHFWLRQ
7DQNVRFNHW
%DQGFODPS
,1)250$7,21
0D[LPXPKHLJKWRISURFHVVFRQQHFWLRQ PP 
7RPDNHWKHFOHDQLQJRIWKHDQWHQQDHDVLHU
DWWDFKWKHGHYLFHWRDVKRUWVRFNHW
,167$//$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
(TXLSPHQWQHHGHG
á'HYLFH
á*DVNHWQRWVXSSOLHG
á',1 QXW
+RZWRDWWDFKDGHYLFHZLWKD',1 FRQQHFWLRQ
á0DNHVXUHWKDWWKHWDQNFRQQHFWLRQLVOHYHO
á0DNHVXUHWKDW\RXXVHWKHDSSOLFDEOHJDVNHWIRUWKHFRQQHFWLRQGLPHQVLRQVDQGWKHSURFHVV
á$OLJQWKHJDVNHWFRUUHFWO\
á/RZHUWKHDQWHQQDFDUHIXOO\LQWRWKHWDQN
á7XUQWKHQXWRQWKHGHYLFHSURFHVVFRQQHFWLRQWRDWWDFKWKHGHYLFHWRWKHWDQN
á7LJKWHQWKHFRQQHFWLRQ
K
5HIHUWRORFDOUXOHVDQGUHJXODWLRQVIRUWKHFRUUHFWWRUTXHWRDSSO\WRWKHFRQQHFWLRQ
5HTXLUHPHQWVIRUK\JLHQLFFRQQHFWLRQV',1 
)LJXUH',1 FRQQHFWLRQ
7DQNVRFNHW
1XWIRU',1 FRQQHFWLRQ
,1)250$7,21
0D[LPXPKHLJKWRISURFHVVFRQQHFWLRQ PP 
7RPDNHWKHFOHDQLQJRIWKHDQWHQQDHDVLHU
DWWDFKWKHGHYLFHWRDVKRUWVRFNHW
,167$//$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
(TXLSPHQWQHHGHG
á'HYLFH
á*DVNHWQRWVXSSOLHG
á606QXW
+RZWRDWWDFKDGHYLFHZLWKD606FRQQHFWLRQ
á0DNHVXUHWKHWDQNFRQQHFWLRQLVOHYHO
á0DNHVXUHWKDW\RXXVHWKHDSSOLFDEOHJDVNHWIRUWKHFRQQHFWLRQGLPHQVLRQVDQGWKHSURFHVV
á$OLJQWKHJDVNHWFRUUHFWO\
á/RZHUWKHDQWHQQDFDUHIXOO\LQWRWKHWDQN
á7XUQWKHQXWRQWKHGHYLFHSURFHVVFRQQHFWLRQWRDWWDFKWKHGHYLFHWRWKHWDQN
á7LJKWHQWKHFRQQHFWLRQ
K
5HIHUWRORFDOUXOHVDQGUHJXODWLRQVIRUWKHFRUUHFWWRUTXHWRDSSO\WRWKHFRQQHFWLRQ
5HTXLUHPHQWVIRUK\JLHQLFFRQQHFWLRQV606
)LJXUH606FRQQHFWLRQ
7DQNVRFNHW
1XWIRU606FRQQHFWLRQ
,1)250$7,21
0D[LPXPKHLJKWRISURFHVVFRQQHFWLRQ PP 
7RPDNHWKHFOHDQLQJRIWKHDQWHQQDHDVLHU
DWWDFKWKHGHYLFHWRDVKRUWVRFNHW
,167$//$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
+RZWRWXUQRUUHPRYHWKHVLJQDOFRQYHUWHU
,1)250$7,21
7KHFRQYHUWHUWXUQV
7KHFRQYHUWHUFDQEHUHPRYHGIURPWKHSURFHVVFRQQHFWLRQDVVHPEO\
XQGHUSURFHVVFRQGLWLRQV
)LJXUH+RZWRWXUQRUUHPRYHWKHVLJQDOFRQYHUWHU
7RRO PP$OOHQZUHQFKQRWVXSSOLHG
&RYHUIRUWKHZDYHJXLGHKROHRQWRSRIWKHSURFHVVFRQQHFWLRQDVVHPEO\QRWVXSSOLHG
&$87,21
,I\RXUHPRYHWKHFRQYHUWHUSXWDFRYHURQWKHZDYHJXLGHKROHRQWRSRIWKHSURFHVVFRQQHFWLRQ
DVVHPEO\
:KHQWKHFRQYHUWHULVDWWDFKHGWRWKHSURFHVVFRQQHFWLRQDVVHPEO\WLJKWHQWKHORFNVFUHZ
,167$//$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
:HDWKHUSURWHFWLRQ
+RZWRDWWDFKWKHZHDWKHUSURWHFWLRQWRWKHGHYLFH
(TXLSPHQWQHHGHG
á'HYLFH
á:HDWKHUSURWHFWLRQRSWLRQ
á PPZUHQFKQRWVXSSOLHG
7KHRYHUDOOGLPHQVLRQVRIWKHZHDWKHUSURWHFWLRQDUH
á/RRVHQWKHEUDFNHWQXWVRQWKHZHDWKHUSURWHFWLRQ
á5HPRYHWKHEUDFNHW
á/RZHUWKHZHDWKHUSURWHFWLRQRQWRWKHGHYLFH
á7XUQWKHZHDWKHUSURWHFWLRQVRWKDWWKHNH\KROHSRLQWVIRUZDUG
á$WWDFKWKHEUDFNHW
á/LIWWKHZHDWKHUSURWHFWLRQWRWKHWRSRIWKHKRXVLQJVXSSRUWSLOODU
á+ROGWKHZHDWKHUSURWHFWLRQLQWKHFRUUHFWSRVLWLRQDQGWLJKWHQWKHEUDFNHWQXWV
,167$//$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
+RZWRRSHQWKHZHDWKHUSURWHFWLRQ
(TXLSPHQWQHHGHG
á:HDWKHUSURWHFWLRQDWWDFKHGWRWKHGHYLFH
á/DUJHVORWWHGWLSVFUHZGULYHUQRWVXSSOLHG
á3XWDODUJHVORWWHGWLSVFUHZGULYHULQWRWKHNH\KROHDWWKHIURQWRIWKHZHDWKHUSURWHFWLRQ7XUQ
WKHVFUHZGULYHUFRXQWHUFORFNZLVH
á3XOOWKHWRSRIZHDWKHUSURWHFWLRQXSDQGIRUZDUG
K
7KLVZLOORSHQWKHZHDWKHUSURWHFWLRQ
(/(&75,&$/&211(&7,216

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
6DIHW\LQVWUXFWLRQV
(OHFWULFDOLQVWDOODWLRQZLUHORRSSRZHUHG
&RPSDFWYHUVLRQ
'$1*(5
$OOZRUNRQWKHHOHFWULFDOFRQQHFWLRQVPD\RQO\EHFDUULHGRXWZLWKWKHSRZHUGLVFRQQHFWHG7DNH
QRWHRIWKHYROWDJHGDWDRQWKHQDPHSODWH
'$1*(5
2EVHUYHWKHQDWLRQDOUHJXODWLRQVIRUHOHFWULFDOLQVWDOODWLRQV
'$1*(5
)RUGHYLFHVXVHGLQKD]DUGRXVDUHDVDGGLWLRQDOVDIHW\QRWHVDSSO\SOHDVHUHIHUWRWKH([
GRFXPHQWDWLRQ
:$51,1*
2EVHUYHZLWKRXWIDLOWKHORFDORFFXSDWLRQDOKHDOWKDQGVDIHW\UHJXODWLRQV$Q\ZRUNGRQHRQWKH
HOHFWULFDOFRPSRQHQWVRIWKHPHDVXULQJGHYLFHPD\RQO\EHFDUULHGRXWE\SURSHUO\WUDLQHG
VSHFLDOLVWV
,1)250$7,21
/RRNDWWKHGHYLFHQDPHSODWHWRHQVXUHWKDWWKHGHYLFHLVGHOLYHUHGDFFRUGLQJWR\RXURUGHU
&KHFNIRUWKHFRUUHFWVXSSO\YROWDJHSULQWHGRQWKHQDPHSODWH
7HUPLQDOVIRUHOHFWULFDOLQVWDOODWLRQ
)LJXUH7HUPLQDOVIRUHOHFWULFDOLQVWDOODWLRQ
*URXQGLQJWHUPLQDOLQWKHKRXVLQJLIWKHHOHFWULFDOFDEOHLVVKLHOGHG
&XUUHQWRXWSXW
&XUUHQWRXWSXW
/RFDWLRQRIWKHH[WHUQDOJURXQGLQJWHUPLQDODWWKHERWWRPRIWKHFRQYHUWHU
,1)250$7,21
(OHFWULFDOSRZHUWRWKHRXWSXWWHUPLQDOHQHUJL]HVWKHGHYLFH7KHRXWSXWWHUPLQDOLVDOVRXVHGIRU
+$57
FRPPXQLFDWLRQ
(/(&75,&$/&211(&7,216

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
/RRVHQWKHORFNVFUHZZLWKD PP$OOHQZUHQFK
7XUQWKHFRYHUFRXQWHUFORFNZLVHZLWKDVWUDSZUHQFK
5HPRYHWKHFRYHU
(TXLSPHQWQHHGHG
á6PDOOVORWWHGWLSVFUHZGULYHUQRWVXSSOLHG
3URFHGXUH
'RQRWGLVFRQQHFWWKHVDIHW\FRUGIURPWKHWHUPLQDOFRPSDUWPHQWFRYHU3XWWKHWHUPLQDO
FRPSDUWPHQWFRYHUDGMDFHQWWRWKHKRXVLQJ
5HPRYHWKHFRQQHFWRUIURPWKHFLUFXLWERDUG
&RQQHFWWKHHOHFWULFDOZLUHVWRWKHFRQQHFWRU$WWDFKWKHFRQQHFWRUWRWKHFLUFXLWERDUG7LJKW
HQWKHFDEOHHQWU\JODQGV
3XWWKHFRYHURQWKHKRXVLQJDQGSXVKLWGRZQ
7XUQWKHFRYHUFORFNZLVHXQWLOLWLVIXOO\HQJDJHG
7LJKWHQWKHORFNVFUHZ
(OHFWULFDOFRQQHFWLRQIRUFXUUHQWRXWSXW
1RQ([GHYLFHV
&$87,21
á
8VHWKHDSSOLFDEOHHOHFWULFDOFDEOHVZLWKWKHFDEOHJODQGV
á
0DNHVXUHWKDWWKHSRZHUVXSSO\GRHVQRWKDYHDFXUUHQWPRUHWKDQ $RUWKDWWKHUHLV $
UDWHGIXVHLQWKHHOHFWULFDOFLUFXLWWKDWHQHUJL]HVWKHGHYLFH
)LJXUH(OHFWULFDOFRQQHFWLRQVIRUQRQ([GHYLFHV
3RZHUVXSSO\
5HVLVWRUIRU+$57FRPPXQLFDWLRQ
2SWLRQDOFRQQHFWLRQWRWKHJURXQGLQJWHUPLQDO
2XWSXW 9'&IRUDQRXWSXWRI P$DWWKHWHUPLQDO
'HYLFH
(/(&75,&$/&211(&7,216

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
'HYLFHVIRUKD]DUGRXVORFDWLRQV
3URWHFWLRQFDWHJRU\
'$1*(5
)RUHOHFWULFDOGDWDIRUGHYLFHRSHUDWLRQLQKD]DUGRXVORFDWLRQVUHIHUWRWKHUHODWHGFHUWLILFDWHVRI
FRPSOLDQFHDQGVXSSOHPHQWDU\LQVWUXFWLRQV$7(;,(&([F)0XV<RXFDQILQGWKLV
GRFXPHQWDWLRQRQWKH'9'520GHOLYHUHGZLWKWKHGHYLFHRULWFDQEHGRZQORDGHGIUHHRIFKDUJH
IURPWKHZHEVLWH'RZQORDG&HQWHU
,1)250$7,21
7KHGHYLFHIXOILOVDOOUHTXLUHPHQWVSHUSURWHFWLRQFDWHJRU\,3 ,3,WDOVRIXOILOVDOO
UHTXLUHPHQWVSHU1(0$W\SH;KRXVLQJDQGW\SH3
'$1*(5
0DNHVXUHWKDWWKHFDEOHJODQGLVZDWHUWLJKW
(/(&75,&$/&211(&7,216

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
1HWZRUNV
*HQHUDOLQIRUPDWLRQ
7KHGHYLFHXVHVWKH+$57FRPPXQLFDWLRQSURWRFRO7KLVSURWRFRODJUHHVZLWKWKH+$57
&RPPXQLFDWLRQ)RXQGDWLRQVWDQGDUG7KHGHYLFHFDQEHFRQQHFWHGSRLQWWRSRLQW,WFDQDOVR
KDYHDSROOLQJDGGUHVVRIWRLQDPXOWLGURSQHWZRUN
7KHGHYLFHRXWSXWLVIDFWRU\VHWWRFRPPXQLFDWHSRLQWWRSRLQW7RFKDQJHWKHFRPPXQLFDWLRQ
PRGHIURPSRLQWWRSRLQW
SRLQWWRSRLQWSRLQWWRSRLQW
SRLQWWRSRLQWWRPXOWLGURS
PXOWLGURSPXOWLGURS
PXOWLGURS
3RLQWWRSRLQWFRQQHFWLRQ
)LJXUH3RLQWWRSRLQWFRQQHFWLRQQRQ([
$GGUHVVRIWKHGHYLFHIRUSRLQWWRSRLQWFRQQHFWLRQ
 P$+$57
5HVLVWRUIRU+$57FRPPXQLFDWLRQ
3RZHUVXSSO\
+$57FRQYHUWHU
+$57FRPPXQLFDWLRQVRIWZDUH
(/(&75,&$/&211(&7,216

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
0XOWLGURSQHWZRUNV
)LJXUH0XOWLGURSQHWZRUNQRQ([
$GGUHVVRIWKHGHYLFHHDFKGHYLFHPXVWKDYHDGLIIHUHQWDGGUHVVLQPXOWLGURSQHWZRUNV
 P$+$57
5HVLVWRUIRU+$57FRPPXQLFDWLRQ
3RZHUVXSSO\
+$57FRQYHUWHU
+$57FRPPXQLFDWLRQVRIWZDUH
(/(&75,&$/&211(&7,216

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
)LHOGEXVQHWZRUNV
)RUPRUHGDWDUHIHUWRWKHVXSSOHPHQWDU\LQVWUXFWLRQVIRU)281'$7,21ILHOGEXVDQG
352),%863$
)281'$7,21ILHOGEXVQHWZRUNQRQ([
)LJXUH)281'$7,21ILHOGEXVQHWZRUNQRQ([
)LHOGGHYLFH
-XQFWLRQER[
+QHWZRUN
++6(FRQYHUWHU
+LJK6SHHG(WKHUQHW+6(
:RUNVWDWLRQ
(/(&75,&$/&211(&7,216

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
352),%863$'3QHWZRUNQRQ([
)LJXUH352),%863$'3QHWZRUNQRQ([
)LHOGGHYLFH
%XVWHUPLQDWLRQ
352),%863$EXVVHJPHQW
6HJPHQWFRXSOHU3$'3OLQN
352),%86'3EXVOLQH
&RQWUROV\VWHP3/& &ODVVPDVWHUGHYLFH
(QJLQHHULQJRURSHUDWRUZRUNVWDWLRQ&RQWUROWRRO &ODVVPDVWHUGHYLFH
67$5783

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
+RZWRVWDUWWKHGHYLFH
6WDUWXSFKHFNOLVW
&KHFNWKHVHSRLQWVEHIRUH\RXHQHUJL]HWKHGHYLFH
á$UHDOOWKHZHWWHGFRPSRQHQWVDQWHQQDIODQJHDQGJDVNHWVFKHPLFDOO\UHVLVWDQWWRWKH
SURGXFWLQWKHWDQN"
á'RHVWKHLQIRUPDWLRQRQWKHVLJQDOFRQYHUWHUQDPHSODWHDJUHHZLWKWKHRSHUDWLQJGDWD"
á'LG\RXFRUUHFWO\LQVWDOOWKHGHYLFHRQWKHWDQN"
á'RWKHHOHFWULFDOFRQQHFWLRQVDJUHHZLWKWKHQDWLRQDOHOHFWULFDOFRGHV"8VHWKHDSSOLFDEOH
HOHFWULFDOFDEOHVZLWKWKHFDEOHJODQGV
+RZWRVWDUWWKHGHYLFH
á&RQQHFWWKHFRQYHUWHUWRWKHSRZHUVXSSO\
á(QHUJL]HWKHFRQYHUWHU
K
'HYLFHVZLWKWKH/&'GLVSOD\RSWLRQRQO\
'HYLFHVZLWKWKH/&'GLVSOD\RSWLRQRQO\'HYLFHVZLWKWKH/&'GLVSOD\RSWLRQRQO\
'HYLFHVZLWKWKH/&'GLVSOD\RSWLRQRQO\$IWHUVHFRQGVWKHVFUHHQZLOOGLVSOD\6WDUWLQJ
XS$IWHUVHFRQGVWKHVFUHHQZLOOGLVSOD\WKHVRIWZDUHYHUVLRQQXPEHUV$IWHU
VHFRQGVWKHGHIDXOWVFUHHQZLOODSSHDU
á7KHGHYLFHZLOOGLVSOD\UHDGLQJV
2SHUDWLQJFRQFHSW
<RXFDQUHDGPHDVXUHPHQWVDQGFRQILJXUHWKHGHYLFHZLWK
á$GLJLWDOGLVSOD\VFUHHQRSWLRQDO
á$FRQQHFWLRQWRDV\VWHPRU3&ZLWK3$&7ZDUH<RXFDQGRZQORDGWKH'HYLFH7\SH
0DQDJHU'70ILOHIURPWKHZHEVLWH,WLVDOVRVXSSOLHGRQWKH'9'520GHOLYHUHGZLWKWKH
GHYLFH
á$FRQQHFWLRQWRDV\VWHPRU3&ZLWK$06<RXFDQGRZQORDGWKH'HYLFH'HVFULSWLRQ''
ILOHIURPWKHZHEVLWH,WLVDOVRVXSSOLHGRQWKH'9'520GHOLYHUHGZLWKWKHGHYLFH
á$FRQQHFWLRQWRD+$57
)LHOG&RPPXQLFDWRU<RXFDQGRZQORDGWKH'HYLFH'HVFULSWLRQ''
ILOHIURPWKHZHEVLWH,WLVDOVRVXSSOLHGRQWKH'9'520GHOLYHUHGZLWKWKHGHYLFH
'$1*(5
%HIRUH\RXHQHUJL]HWKHGHYLFHPDNHVXUHWKDWWKHVXSSO\YROWDJHDQGSRODULW\DUHFRUUHFW
,1)250$7,21
7KLVFKDSWHUDQGWKHVWDUWRIWKHFKDSWHUWKDWIROORZVWHOO\RXZKDWGDWDLVJLYHQRQWKHGHYLFH
GLVSOD\LQQRUPDOPRGHDQGKRZWRFKDQJHGHYLFHVHWWLQJVLQFRQILJXUDWLRQPRGH,I\RXNQRZ
DERXWKRZWKLVGHYLFHRSHUDWHV\RXFDQLJQRUHWKLVGDWD&RQWLQXHZLWKWKHTXLFNVHWXS
SURFHGXUH)RUPRUHGDWDDERXWWKLVSURFHGXUHUHIHUWR4XLFN6HWXS&RPPLVVLRQLQJRQSDJH

67$5783

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
'LJLWDOGLVSOD\VFUHHQ
/RFDOGLVSOD\VFUHHQOD\RXW
7KHFXUUHQWRXWSXWSHUFHQWDJHLVRQO\VKRZQLIWKHPHDVXUHPHQWW\SHUHIHUWRLWHPLQWKH
LOOXVWUDWLRQLVWKHVDPHDVWKHRXWSXWIXQFWLRQ7KHSDUDPHWHULVVHWLQPHQXLWHP287387
)81&)RUH[DPSOHLIWKHRXWSXWIXQFWLRQLVVHWWR/HYHODQGWKHGHYLFHVKRZV/HYHO
PHDVXUHPHQWVLQQRUPDOPRGHWKHEDUJUDSKDQGYDOXHLVVKRZQUHIHUWRLWHPLQWKH
LOOXVWUDWLRQ
)LJXUH/RFDOGLVSOD\VFUHHQOD\RXWLQ1RUPDOPRGH
&XUUHQWRXWSXWSHUFHQWDJHEDUJUDSKDQGWH[W²RQO\VKRZQLIWKHFXUUHQWRXWSXWIXQFWLRQLVWKHVDPHDVWKHPHD
VXUHPHQWRQWKHVFUHHQLQQRUPDOPRGH
0HDVXUHPHQWW\SHLQWKLVH[DPSOHGLVWDQFH
'HYLFHVWDWXV1( V\PEROV
'HYLFHWDJQDPH
8SGDWHGPHDVXUHPHQWGDWDV\PEROWKHV\PEROIODVKHVHDFKWLPHWKHPHDVXUHPHQWGDWDLVXSGDWHG
0HDVXUHPHQWYDOXHDQGXQLWV
'HYLFHVWDWXVPDUNHUV
.H\SDGEXWWRQVUHIHUWRWKHWDEOHLQWKHVHFWLRQWKDWIROORZV
67$5783

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
)XQFWLRQVRINH\SDGEXWWRQV
)RUGDWDRQNH\SDGIXQFWLRQVUHIHUWR
1RUPDOPRGH
RQSDJH
5HPRWHFRPPXQLFDWLRQZLWK3$&7ZDUH
3$&7ZDUHGLVSOD\VPHDVXUHPHQWLQIRUPDWLRQFOHDUO\DQGOHWV\RXFRQILJXUHWKHGHYLFHIURPD
UHPRWHORFDWLRQ,WLVDQ2SHQ6RXUFHRSHQFRQILJXUDWLRQVRIWZDUHIRUDOOILHOGGHYLFHV,WXVHV
)LHOG'HYLFH7RRO)'7WHFKQRORJ\)'7LVDFRPPXQLFDWLRQVWDQGDUGIRUVHQGLQJLQIRUPDWLRQ
EHWZHHQWKHV\VWHPDQGWKHILHOGGHYLFH7KLVVWDQGDUGDJUHHVZLWK,(& )LHOGGHYLFHVDUH
HDVLO\LQWHJUDWHG,QVWDOODWLRQLVVXSSRUWHGE\DXVHUIULHQGO\:L]DUG
,QVWDOOWKHVHVRIWZDUHSURJUDPVDQGHTXLSPHQW
á0LFURVRIW1(7)UDPHZRUNYHUVLRQRUODWHU
á3$&7ZDUH
)LJXUH/RFDOGLVSOD\VFUHHQOD\RXWLQFRQILJXUDWLRQPRGH
)XQFWLRQQDPH
&RQILJXUDWLRQPRGHV\PERO
0HQXQXPEHU
.H\SDGEXWWRQ )XQFWLRQ
>5LJKW@ 1RUPDOPRGH
1RUPDOPRGH1RUPDOPRGH
1RUPDOPRGH(QWHUPHQX(QWHU&RQILJXUDWLRQPRGH
&RQILJXUDWLRQPRGH
&RQILJXUDWLRQPRGH&RQILJXUDWLRQPRGH
&RQILJXUDWLRQPRGH0RYHFXUVRUWRWKHULJKW
>5HWXUQ (VFDSH@ 1RUPDOPRGH
1RUPDOPRGH1RUPDOPRGH
1RUPDOPRGH&KDQJHXQLWVPFPPPLQIW
&RQILJXUDWLRQPRGH
&RQILJXUDWLRQPRGH&RQILJXUDWLRQPRGH
&RQILJXUDWLRQPRGH([LW
>'RZQ@ 1RUPDOPRGH
1RUPDOPRGH1RUPDOPRGH
1RUPDOPRGH&KDQJHPHDVXUHPHQWW\SHGLVWDQFHOHYHORXWSXW
RXWSXWP$FRQYHUVLRQXOODJHFRQYHUVLRQ

&RQILJXUDWLRQPRGH
&RQILJXUDWLRQPRGH&RQILJXUDWLRQPRGH
&RQILJXUDWLRQPRGH'HFUHDVHYDOXHRUFKDQJHSDUDPHWHU
>8S@ 1RUPDOPRGH
1RUPDOPRGH1RUPDOPRGH
1RUPDOPRGH&KDQJHPHDVXUHPHQWW\SHGLVWDQFHOHYHORXWSXW
RXWSXWP$FRQYHUVLRQXOODJHFRQYHUVLRQUHIOHFWLRQ

&RQILJXUDWLRQPRGH
&RQILJXUDWLRQPRGH&RQILJXUDWLRQPRGH
&RQILJXUDWLRQPRGH,QFUHDVHYDOXHRUFKDQJHSDUDPHWHU
,I\RXKDYHPDGHDVWUDSSLQJWDEOHLQPHQXLWHP,13877$%/(IRUYROXPHRUPDVVPHDVXUHPHQW&RQYHUVLRQ
DQG8OODJH&RQYZLOOEHVKRZQLQWKHOLVWRIPHDVXUHPHQWW\SHV
67$5783

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
á+$57FRQYHUWHU86%56
á7KH'HYLFH7\SH0DQDJHU'70IRUWKHGHYLFH
7KHVRIWZDUHDQGLQVWDOODWLRQLQVWUXFWLRQVDUHJLYHQRQWKH'9'520VXSSOLHGZLWKWKHGHYLFH
<RXFDQDOVRGRZQORDGWKHODWHVWYHUVLRQRI3$&7ZDUHDQGWKH'70IURPRXUZHEVLWH
5HIHUDOVRWRWKH3$&7ZDUHFRQVRUWLXPVLWHDWKWWSZZZSDFWZDUHFRP
5HPRWHFRPPXQLFDWLRQZLWKWKH$06'HYLFH0DQDJHU
7KH$06'HYLFH0DQDJHULVDQLQGXVWULDO3ODQW$VVHW0DQDJHPHQW3$0VRIWZDUHWRRO,WV
UROHLVWR
á6WRUHFRQILJXUDWLRQLQIRUPDWLRQIRUHDFKGHYLFH
á6XSSRUW+$57DQG)281'$7,21ILHOGEXVGHYLFHV
á6WRUHDQGUHDGSURFHVVGDWD
á6WRUHDQGUHDGGLDJQRVWLFVWDWXVLQIRUPDWLRQ
á+HOSSODQSUHYHQWLYHPDLQWHQDQFHWRUHGXFHDSODQWVGRZQWLPHWRDPLQLPXP
7KH''ILOHLVJLYHQRQWKH'9'520VXSSOLHGZLWKWKHGHYLFH<RXFDQDOVRGRZQORDGLWIURPRXU
ZHEVLWH
)LJXUH6FUHHQIURPWKH3$&7ZDUHXVHULQWHUIDFH
'70PHQX
,QIRUPDWLRQIRUGHYLFHLGHQWLILFDWLRQ
&RQILJXUDWLRQVXPPDU\
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
8VHUPRGHV
1RUPDOPRGH
1RUPDOPRGH1RUPDOPRGH
1RUPDOPRGH 7KLVPRGHGLVSOD\VPHDVXUHPHQWGDWD)RUPRUHGDWDUHIHUWR
1RUPDO
PRGH
RQSDJH
&RQILJXUDWLRQPRGH
&RQILJXUDWLRQPRGH&RQILJXUDWLRQPRGH
&RQILJXUDWLRQPRGH 8VHWKLVPRGHWRYLHZSDUDPHWHUVFRPPLVVLRQWKHGHYLFHFUHDWHWDEOHV
IRUYROXPHRUPDVVPHDVXUHPHQWFKDQJHFULWLFDOYDOXHVWRPHDVXUHLQ
GLIILFXOWSURFHVVFRQGLWLRQV7RJHWDFFHVVWRVXSHUYLVRUPHQXUHIHUWR
3URWHFWLRQRIWKHGHYLFHVHWWLQJV
RQSDJH)RUPRUHGDWDRQPHQXLWHPV
UHIHUWR
)XQFWLRQGHVFULSWLRQ
RQSDJH
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
1RUPDOPRGH
7KLVPRGHVKRZVPHDVXUHPHQWGDWD8VHWKHWDEOHWKDWIROORZV
áIRUWKHVHOHFWLRQRIWKHPHDVXUHPHQWW\SHOHYHOGLVWDQFHSHUFHQWDJHFRQYHUVLRQDQG
UHIOHFWLRQDQG
áIRUWKHVHOHFWLRQRIWKHPHDVXUHPHQWXQLWV
6RPHPHDVXUHPHQWW\SHVZLOORQO\EHDYDLODEOHLIWKHGHYLFHKDVWKHFRUUHFWSDUDPHWHUVHQWHUHG
LQWKHFRQILJXUDWLRQPRGH
0HDVXUHPHQWW\SHGHILQLWLRQV
&RQILJXUDWLRQPRGH
*HQHUDOQRWHV
&KDQJHWKHVHWWLQJVRI\RXUGHYLFHLQ&RQILJXUDWLRQ
&RQILJXUDWLRQ&RQILJXUDWLRQ
&RQILJXUDWLRQPRGH'DWDDERXWWKHPHQXVLVJLYHQRQSDJH
<RXFDQ
0HDVXUHPHQWW\SH 'HVFULSWLRQ $YDLODEOHXQLWV
/(9(/ 7KLVLVDGLVSOD\DQGDQRXWSXWIXQFWLRQRSWLRQ
,WLVWKHKHLJKWIURPWKHERWWRPRIWKHWDQNWR
WKHVXUIDFHRIWKHOLTXLG7DQNKHLJKW
'LVWDQFH
PFPPPLQLQFKHVIW
IHHW
',67$1&( 7KLVLVDGLVSOD\DQGDQRXWSXWIXQFWLRQRSWLRQ
,WLVWKHGLVWDQFHIURPWKHIDFHRIWKHIODQJHRU
WKUHDGVWRSWRWKHVXUIDFHRIWKHOLTXLG
PFPPPLQLQFKHVIW
IHHW
&219(56,21 7KLVLVDGLVSOD\DQGDQRXWSXWIXQFWLRQRSWLRQ
,WJLYHVWKHYROXPHRUPDVVRIWKHWDQN
FRQWHQWV7KLVGDWDLVDYDLODEOHLI\RXSUHSDUHD
YROXPHRUPDVVWDEOHLQFRQILJXUDWLRQPRGH
)RUGDWDRQKRZWRSUHSDUHWKHFRQYHUVLRQ
WDEOHUHIHUWR
+RZWRFRQILJXUHWKHGHYLFHWR
PHDVXUHYROXPHRUPDVV
RQSDJH,IWKH
GHYLFHLVXVHGZLWK3$&7ZDUHVRIWZDUHLW
FDQDOVRVKRZIORZUDWHLQDFKDQQHOIORZ
SURILOHVDUHDYDLODEOHLQWKHPHQX3DUVKDOO
,62 9HQWXUL5HFWDQJXODU,62 
9HQWXUL7UDSH]RLGDO,62 9HQWXUL8
,62 91RWFK,62 RU5HFWDQJXODU
1RWFK,62 
P/JDO86JDOORQV,PS*
,PSHULDOJDOORQVIWEEORLO
EDUUHONJW6WRQ/WRQP
FPPPLQIWPKIWK
8//$*(&219 7KLVLVDGLVSOD\DQGDQRXWSXWIXQFWLRQRSWLRQ
,WJLYHVWKHHPSW\YROXPHRUUHPDLQLQJPDVV
WKDWFDQEHSXWLQWKHWDQN7KLVGDWDLV
DYDLODEOHLI\RXSUHSDUHDYROXPHRUPDVVWDEOH
LQFRQILJXUDWLRQPRGH)RUGDWDRQKRZWR
SUHSDUHWKHFRQYHUVLRQWDEOHUHIHUWR
+RZWR
FRQILJXUHWKHGHYLFHWRPHDVXUHYROXPHRU
PDVV
RQSDJH
P/JDO86JDOORQV,PS*
,PSHULDOJDOORQVIWEEORLO
EDUUHONJW6WRQ/WRQP
FPPPLQIWPKIWK
5()/(&7,21 7KLVLVDGLVSOD\DQGDQRXWSXWIXQFWLRQRSWLRQ
,WLVWKHSHUFHQWDJHRIWKHHPLWWHGUDGDUVLJQDO
ZKLFKPDNHVDUHIOHFWLRQRQWKHVXUIDFHRIWKH
OLTXLGDQGLVUHFHLYHGE\WKHGHYLFH
287387,P$ 7KHFXUUHQWRXWSXWRIWKHGHYLFH P$
287387, 7KHSHUFHQWDJHRIWKHFXUUHQWRXWSXW
  P$  P$
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
á8VHWKH,1)250$7,21
,1)250$7,21,1)250$7,21
,1)250$7,21PHQXWRUHDGVHWWLQJVGHYLFHVRIWZDUHYHUVLRQVDQGHUURU
UHFRUGV)RUPRUHGDWDDERXWWKH,QIRUPDWLRQPHQXUHIHUWR7DEOH,QIR
á8VHWKH683(59,625
683(59,625683(59,625
683(59,625PHQXWRFRPPLVVLRQWKHGHYLFHWRUXQGLDJQRVWLFWHVWVVHWXSD
FRQYHUVLRQWDEOHIRUYROXPHPDVVRUIORZUDWHPHDVXUHPHQWFKDQJHFULWLFDOSDUDPHWHUVIRU
GLIILFXOWSURFHVVFRQGLWLRQVUHVHWWKHGHYLFHDQGFKDQJHEDVLFSDUDPHWHUVWDQNKHLJKWHWF
RXWSXWVHWWLQJV+$57$GGUHVVHWF)RUPRUHGDWDDERXWWKH6XSHUYLVRUPHQXUHIHUWR7DEOH
6XSHUYLVRU
+RZWRJHWDFFHVVWRWKHFRPPLVVLRQLQJPHQX
7KH4XLFN6HWXSPHQXFRQWDLQVWKHPHQXLWHPVWKDWDUHQHFHVVDU\IRUPRVWFRQILJXUDWLRQVRI
WKHGHYLFH7KHPHQXLWHPVDUHGLYLGHGLQWRJURXSV&RPPLVLRQLQJDQG5HFRUGLQJ(PSW\
6SHFWUXP7KH&RPPLVLRQLQJJURXSOHWVWKHVXSHUYLVRUVHWWKHWDQNKHLJKWWDQNW\SH
SURFHVVVWRUDJHHWFRXWSXWIXQFWLRQRXWSXWFXUUHQWUDQJH P$RXWSXWVHWWLQJ P$RXWSXW
VHWWLQJHUURUGHOD\DQGWDJQDPH5HFRUGLQJ(PSW\6SHFWUXPLVDSURFHGXUHWKDWILQGV
LQWHUIHUHQFHVLJQDOVLQWKHWDQNDQGXVHVDILOWHUWRUHPRYHWKHPIURPWKHPHDVXUHPHQWGDWD
'RWKHVWHSVWKDWIROORZ
á3XVKWKH>!
!!
!@EXWWRQ
K
7KLVVKRZVWKH,QIRUPDWLRQ
,QIRUPDWLRQ,QIRUPDWLRQ
,QIRUPDWLRQPHQX7KH,QIRUPDWLRQ
,QIRUPDWLRQ,QIRUPDWLRQ
,QIRUPDWLRQPHQXLVUHDGRQO\DQGGRHVQRWKDYH
SDVVZRUGVHFXULW\
á3XVKWKH>
@EXWWRQRQHWLPHWRVFUROOXSWRWKH6XSHUYLVRU
6XSHUYLVRU6XSHUYLVRU
6XSHUYLVRUPHQX
K
7KHVFUHHQVKRZVWKHWH[W683(59,625
á3XVKWKH>!
!!
!@EXWWRQRQHWLPH
K
7KHVFUHHQVKRZVDOLQH<RXPXVWHQWHUWKHSDVVZRUG3XVKWKHEXWWRQVXQGHUWKHGLVSOD\
VFUHHQWLPHVLQWRWDODQGLQDJLYHQRUGHUWRJHWDFFHVVWR&RQILJXUDWLRQPRGH
á7\SHLQWKHSDVVZRUG7KHIDFWRU\VHWSDVVZRUGLV>!
!!
!@>A
AA
A@>
@>
@>!
!!
!@DQG>A
AA
A@
K
7KHGHYLFHVKRZVWKHWH[W48,&.6(783
á3XVK>
@WRJRWRPHQXLWHP(0363(&5(&3XVK>!
!!
!@WRVWDUWWKHHPSW\VSHFWUXP
UHFRUGLQJSURFHGXUH)RUPRUHGDWD7DEOH6XSHUYLVRUUHIHUWR
)XQFWLRQGHVFULSWLRQ
RQSDJH

&$87,21
7KHTXLFNVHWXSFRPPLVVLRQLQJSURFHGXUHLVPDQGDWRU\
,1)250$7,21
,WLVQRWSRVVLEOHWRHQWHUWKH6(59,&(DQG0$67(5PHQXV7KHVHPHQXVDUHIRU
IDFWRU\FDOLEUDWLRQDQGDSSURYHGSHUVRQQHORQO\
,1)250$7,21
+2:726(77+(683(59,6253$66:25'7221252))
7KHVXSHUYLVRUSDVVZRUGLVVHWWRRQE\GHIDXOW,ILWLVQHFHVVDU\WRVHWWKLVIXQFWLRQWRRII
UHIHUWR)XQFWLRQGHVFULSWLRQRQSDJH
7DEOH6XSHUYLVRUPHQXPHQXLWHP36:'<(612

,1)250$7,21
+2:72&+$1*(7+(683(59,6253$66:25'
<RXFDQFKDQJHWKHSDVVZRUGIRUWKHVXSHUYLVRUPHQX)RUPRUHGDWDUHIHUWR)XQFWLRQ
GHVFULSWLRQRQSDJH
7DEOH6XSHUYLVRUPHQXPHQXLWHP3$66:25'
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
.H\SDGIXQFWLRQV
7KLVLVZKDW\RXVHHZKHQ\RXDUHLQ&RQILJXUDWLRQPRGH7KHIXQFWLRQVRIWKHEXWWRQVDUHJLYHQ
LQWKHWDEOHWKDWIROORZV
)XQFWLRQVRIEXWWRQVIRUPHQXQDYLJDWLRQ
)LJXUH/RFDOGLVSOD\VFUHHQOD\RXWLQFRQILJXUDWLRQPRGH
)XQFWLRQQDPH
&RQILJXUDWLRQPRGHV\PERO
0HQXQXPEHU
%XWWRQ 'HVFULSWLRQ )XQFWLRQ
5LJKW
á
*RGRZQWRWKHVXEPHQXOHYHOIRUH[DPSOHIURPPHQXWR
VXEPHQX
á
(QWHUWKHPHQXLWHP
(QWHU(VF
(VFDSH
á
*RXSWRWKHPHQXOHYHOIRUH[DPSOHIURPVXEPHQXWRPHQX

á
*RWR1RUPDOPRGH,I\RXFKDQJHGVHWWLQJVLQ&RQILJXUDWLRQPRGH
\RXPXVWVDYHRUFDQFHO\RXUQHZVHWWLQJV)RUPRUHGDWDUHIHUWR
WKHHQGRIWKLVVHFWLRQ
'RZQ
á
6FUROOGRZQWKHPHQXOLVWIRUH[DPSOHIURPPHQXWRPHQX

á
6FUROOGRZQWKHVXEPHQXOLVWIRUH[DPSOHIURPVXEPHQXWR
VXEPHQX
8S
á
6FUROOXSWKHPHQXOLVWIRUH[DPSOHIURPPHQXWRPHQX

á
6FUROOXSWKHVXEPHQXOLVWIRUH[DPSOHIURPVXEPHQXWR
VXEPHQX
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
7KLVLVZKDW\RXVHHZKHQ\RXVHOHFWDPHQXLWHPWKDWKDVDOLVWRISDUDPHWHUV7KHIXQFWLRQVRI
WKHEXWWRQVDUHJLYHQLQWKHWDEOHWKDWIROORZV
)XQFWLRQRIEXWWRQVLQPHQXLWHPVWKDWKDYHDOLVWRISDUDPHWHUV
/LVWVRISDUDPHWHUVLQPHQXLWHPV
)LJXUH/LVWVRISDUDPHWHUVLQPHQXLWHPV
3DUDPHWHU
0HQXQDPH
%XWWRQ 'HVFULSWLRQ )XQFWLRQ
5LJKW QD
(QWHU (VF
(VFDSH 6HOHFWWKHSDUDPHWHUDQGJREDFNWRWKHPHQX
'RZQ 0RYHGRZQWKHOLVW
8S 0RYHXSWKHOLVW
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
7KLVLVZKDW\RXVHHZKHQ\RXVHOHFWDPHQXLWHPWKDWKDVDYDOXH7KHIXQFWLRQVRIWKHEXWWRQV
DUHJLYHQLQWKHWDEOHWKDWIROORZV
)XQFWLRQRIEXWWRQVLQPHQXLWHPVWKDWKDYHYDOXHV
+RZWRVDYHVHWWLQJVFKDQJHGLQWKHVXSHUYLVRUPHQXPHQX
á:KHQ\RXKDYHFKDQJHGSDUDPHWHUVLQDOOWKHQHFHVVDU\PHQXLWHPVSXVK>A
AA
A@WRDFFHSWWKH
QHZSDUDPHWHU
á3XVK>A
AA
A@WRJREDFNWRWKH6725(VFUHHQ
á7KHGHYLFHZLOODVN\RXWRVDYHRUFDQFHO\RXUVHWWLQJV3XVK>
@RU>
@WRVHOHFW6725(<(6
6725(<(66725(<(6
6725(<(6RU
6725(12
6725(126725(12
6725(123XVK>A
AA
A@WRDFFHSWRUUHMHFWWKHQHZVHWWLQJV
K
7KHGLVSOD\JRHVEDFNWR1RUPDOPRGH
9DOXHVLQPHQXLWHPV
)LJXUH9DOXHVLQPHQXLWHPV
0HQXLWHPZLWKYDOXHVVWRUHGDWWKLVWLPHILUVWVFUHHQ
3XVK>!
!!
!@DJDLQWRFKDQJHWKHYDOXHV$FXUVRUVKRZVRQWKHILUVWGLJLW
0HQXLWHPQDPH
&XUVRURQWKHVHOHFWHGGLJLW
%XWWRQ 'HVFULSWLRQ )XQFWLRQ
5LJKW
á
(QWHUWKHPHQXLWHPDQGVHHWKHYDOXHVWRUHGDWWKLVWLPH
á
(QWHUWKHPHQXLWHPFRQILJXUDWLRQOHYHOWRFKDQJHWKHYDOXH
á
0RYHWKHFXUVRUWRWKHQH[WGLJLWRQWKHULJKW,IWKHFXUVRULVRQWKH
ODVWGLJLWSXVK>!
!!
!@DJDLQWRJREDFNWRWKHILUVWGLJLW
(QWHU (VF
(VFDSH $FFHSWWKHYDOXHDQGJREDFNWRWKHVXEPHQX
'RZQ 'HFUHDVHWKHGLJLWYDOXH
8S ,QFUHDVHWKHGLJLWYDOXH
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
0HQXRYHUYLHZ
,QIR,QIRUPDWLRQ
 ,GHQW,GHQWLILFDWLRQ
 2XWSXW
 +LVWRU\
6XSHUYLVRU
 4XLFN6HWXS
 7HVWV
 %DVLF3DUDP%DVLF3DUDPHWHUV
 2XWSXW,
 $SSOLFDWLRQ
 &RPPXQLFDW&RPPXQLFDWLRQ
 'LVSOD\
 &RQY7DEOH&RQYHUVLRQ7DEOH
 &RQILJ5HVHW
6HUYLFH
QD 3DVVZRUGORFNHG0HQXVIRUIDFWRU\FDOLEUDWLRQDQGTXDOLILHG
VHUYLFHSHUVRQQHORQO\
0DVWHU
QD 3DVVZRUGORFNHG0HQXVIRUIDFWRU\FDOLEUDWLRQDQGTXDOLILHG
VHUYLFHSHUVRQQHORQO\
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
)XQFWLRQGHVFULSWLRQ
,QIRUPDWLRQ,QIRPHQX
0HQX
1R
)XQFWLRQ )XQFWLRQGHVFULSWLRQ 6HOHFWLRQOLVW 'HIDXOW
,'(17
 6(5,$/180 7KHGHYLFHVHULDOQXPEHU 5HDGRQO\
 &219),509(5 7KHFRQYHUWHUILUPZDUHYHUVLRQ 5HDGRQO\
 6(1),509(5 7KHVHQVRUILUPZDUHYHUVLRQ 5HDGRQO\
 +0,),509(5 7KH+0,GHYLFHGLVSOD\VFUHHQ
ILUPZDUHYHUVLRQ 5HDGRQO\
 7KHFRQYHUWHUKDUGZDUHYHUVLRQ 5HDGRQO\
 7KHVHQVRUKDUGZDUHYHUVLRQ 5HDGRQO\
 7KH+0,GHYLFHGLVSOD\VFUHHQ
KDUGZDUHYHUVLRQ 5HDGRQO\
 7KHGDWHRIPDQXIDFWXUH 5HDGRQO\
287387
 287387)81& 7KLVVKRZVWKHVHWWLQJDWWKLVWLPHIRU
WKHRXWSXWIXQFWLRQ287387)81& 5HDGRQO\
 5$1*(, 7KLVVKRZVWKHVHWWLQJDWWKLVWLPHIRU
WKHRXWSXWUDQJH5$1*(, 5HDGRQO\
 6&$/(P$ 7KLVVKRZVWKHVHWWLQJDWWKLVWLPHIRU
WKH P$VHWWLQJ6&$/(P$ 5HDGRQO\
 6&$/(P$ 7KLVVKRZVWKHVHWWLQJDWWKLVWLPHIRU
WKH P$VHWWLQJ6&$/(P$ 5HDGRQO\
 (5525'(/$< 7KLVVKRZVWKHVHWWLQJVDWWKLVWLPHIRU
WKHHUURUGHOD\(5525'(/$< 5HDGRQO\
+,6725<
 (55255(&25' $ORJRIGHYLFHHUURUV3XVK>!
!!
!@WRUHDG
WKHHUURUV3XVK>
@RU>
@WRVFUROOXS
RUGRZQWKHOLVW(DFKHUURULVLGHQWLILHG
E\DFRGH3XVK>!
!!
!@DJDLQWRVKRZWKH
QXPEHURILQFLGHQWVDQGWKHWLPHVLQFH
WKHODVWLQFLGHQWLQGD\VKRXUV
PLQXWHVDQGVHFRQGV)RUPRUHGDWD
DERXWHUURUVUHIHUWR
6WDWXVDQGHUURU
PHVVDJHV
RQSDJH
5HDGRQO\
 $ORJRIWKHODVWFKDQJHVWRWKH
GHYLFHVHWWLQJV3XVK>
@RU>
@WR
VFUROOXSRUGRZQWKHOLVW3XVK>!
!!
!@WR
VKRZWKHWLPHVLQFHWKHODVWFKDQJHLQ
GD\VKRXUVPLQXWHVDQGVHFRQGV
5HDGRQO\
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
6XSHUYLVRUPHQX
0HQX
1R
)XQFWLRQ )XQFWLRQGHVFULSWLRQ 6HOHFWLRQOLVW 'HIDXOW
&200,66,21
 3$5$0(7(56 7KLVVWDUWVDTXLFNVHWXSSURFHGXUH
DSSOLFDEOHWRPRVWDSSOLFDWLRQV7KH
VXSHUYLVRUFDQJLYHWKHGLVSOD\ODQJXDJH
/$1*8$*(WDQNKHLJKW7$1.+(,*+7
W\SHRIWDQN7$1.7<3(RXWSXWIXQFWLRQ
287387)81&FXUUHQWRXWSXWUDQJH
5$1*(, P$VHWWLQJ6&$/(P$
 P$VHWWLQJ6&$/(P$HUURUGHOD\
(5525'(/$<DQGWDJQDPH7$*1$0(
 (0363(&5(& )L[HGDQGPRYLQJREMHFWVLQWKHWDQNFDXVH
LQWHUIHUHQFHVLJQDOV3XWWKHPWKURXJKWKLV
ILOWHUWRFRUUHFWO\PHDVXUHWKHWDQN
FRQWHQWV$TXLFNVHWXSSURFHGXUHZLOOJR
WKURXJKWKHVWHSVWKDWIROORZUHIHUDOVRWR
+RZWRPDNHDILOWHUWRUHPRYHUDGDUVLJQDO
LQWHUIHUHQFHRQSDJH
'R\RXKDYHDFRPSOHWHO\ILOOHGWDQN"
'R\RXKDYHDFRPSOHWHO\ILOOHGWDQN"'R\RXKDYHDFRPSOHWHO\ILOOHGWDQN"
'R\RXKDYHDFRPSOHWHO\ILOOHGWDQN"
,IWKHWDQNLVIXOOLWLVQRWSRVVLEOHWR
FRPSOHWHWKLVSURFHGXUH7KHWDQNPXVWEH
SDUWLDOO\ILOOHGRUHPSW\
<HV>!
!!
!@1R>
@
3OHDVHDFWLYDWHPRYLQJSDUWV
3OHDVHDFWLYDWHPRYLQJSDUWV3OHDVHDFWLYDWHPRYLQJSDUWV
3OHDVHDFWLYDWHPRYLQJSDUWV
:HUHFRPPHQGWKDW\RXVZLWFKRQPRYLQJ
HTXLSPHQWWRILOWHUDOOLQWHUIHUHQFHVLJQDOV
2.>!
!!
!@
,V\RXUWDQNSDUWLDOO\ILOOHGRUHPSW\"
,V\RXUWDQNSDUWLDOO\ILOOHGRUHPSW\",V\RXUWDQNSDUWLDOO\ILOOHGRUHPSW\"
,V\RXUWDQNSDUWLDOO\ILOOHGRUHPSW\"
,IWKHWDQNLVSDUWLDOO\ILOOHGWKHGHYLFHPXVW
LQFOXGHWKHWDQNFRQWHQWVZKHQLWILOWHUVWKH
VLJQDO
3DUWLDOO\>!
!!
!@(PSW\>
@
0($6',67$1&(
0($6',67$1&(0($6',67$1&(
0($6',67$1&(
,IWKHWDQNLVSDUWLDOO\ILOOHGW\SHLQD
GLVWDQFHVKRUWHUWKDQWKDWEHWZHHQWKH
IODQJHDQGWKHWDQNFRQWHQWV
PLQPD[«WDQNKHLJKW
 GLVWDQFHWR
WDQNFRQWHQWV 
 PP 
(PS6SHF7\SH
(PS6SHF7\SH(PS6SHF7\SH
(PS6SHF7\SH
8VHWKHDYHUDJHYDOXHIRUWDQNVZKLFK
FRQWDLQIL[HGREMHFWVRQO\8VHWKH
PD[LPXPYDOXHIRUWDQNVZKLFKFRQWDLQ
PDQ\REMHFWVRUPRYLQJREMHFWV
0D[LPXP$YHUDJH "
5HFRUGLQJLQSURJUHVV
5HFRUGLQJLQSURJUHVV5HFRUGLQJLQSURJUHVV
5HFRUGLQJLQSURJUHVV
5HDGLQJLQSURJUHVV
5HDGLQJLQSURJUHVV5HDGLQJLQSURJUHVV
5HDGLQJLQSURJUHVV
(PSW\VSHFWUXPJUDSK
(PSW\VSHFWUXPJUDSK(PSW\VSHFWUXPJUDSK
(PSW\VSHFWUXPJUDSK
7KLVVKRZVDVHWRIVSHFWUDVLJQDOVIRXQGLQ
WKHWDQN,WDOVRJLYHVWKHDPSOLWXGHDQG
ORFDWLRQRIHDFKVLJQDO3XVK>!
!!
!@WRPDNHD
VHOHFWLRQIURPWKHDYDLODEOHVSHFWUD
'R\RXZDQWWRVDYHWKHHPSW\VSHFWUXP
GDWD" <HV>!
!!
!@1R>
@
7(676
 6(7287387 7KLVVHWVWKHFXUUHQWRXWSXWWRDWHVWYDOXH
>P$@7KHRXWSXWZLOOFKDQJHWRWKHJLYHQ
YDOXHLQGHSHQGHQWRIWKHPHDVXUHGYDOXH
7KHFXUUHQWRXWSXWZLOOJREDFNWRWKH
PHDVXUHGYDOXHZKHQWKHGLVSOD\JRHVEDFN
WRWKHPHQXOHYHO

RU P$  P$
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
 ',$*1267,& 7KLVVWDUWVWKHKDUGZDUHWHVW3XVK>!
!!
!@PDQ\
WLPHVWRVKRZ
á
'WKHWLPHRIRSHUDWLRQ
á
7WHPSHUDWXUHRIWKHHOHFWURQLF
FRQYHUWHUERDUG
á
,ORRSFXUUHQWLQWHUQDOO\PHDVXUHG
YDOXH
á
,ORDGFXUUHQW127(WKLVGDWDLVQRW
DYDLODEOHDWWKLVWLPH
á
9YROWDJH 9,IWKHYROWDJHLVQRW
9VSHDNWRWKHVXSSOLHU
á
9YROWDJHRQFDSDFLWRUV,IWKHYROWDJHLV
QRW9VSHDNWRWKHVXSSOLHU
á
9YROWDJH 9,IWKHYROWDJHLVQRW
9VSHDNWRWKHVXSSOLHU
á
&UHVHWFRXQWHUZDWFKGRJWLPHU,I
&!UHSODFHWKHVLJQDOFRQYHUWHU
,IDQ1( V\PERODQGDVWDWXVPDUNHUDUH
VKRZQUHIHUWR
'HYLFHVWDWXVPDUNHUV
RQ
SDJH
,I\RXSXVK>!
!!
!@DJDLQWKHGLVSOD\JRHVEDFN
WRWKHPHQXOHYHO
 7KHFRUUHFWHGVSHFWUXP7%'
%$6,&3$5$0
 7$1.+(,*+7 7KHGLVWDQFHIURPWKHIODQJHIDFH WKUHDG
VWRSRIWKHWDQNFRQQHFWLRQGRZQWRWKHWDQN
ERWWRP,IWKHWDQNKDVDGLVKVKDSHGRU
FRQLFDOERWWRPWKHWDQNKHLJKWLVPHDVXUHG
WRDSRLQWRQWKHWDQNERWWRPGLUHFWO\EHORZ
WKHDQWHQQD)RUPRUHGDWDDERXWOHYHO
PHDVXUHPHQWUHIHUWR
/HYHOPHDVXUHPHQW
RQSDJH)RUPRUHGDWDDERXWGLVWDQFH
PHDVXUHPHQWUHIHUWR
'LVWDQFH
PHDVXUHPHQW
RQSDJH
PLQPD[« P 
« IW
 %/2&.',67 %ORFNLQJGLVWDQFH7KHGLVWDQFHIURPWKH
IODQJHWRWKHWRSOLPLWRIWKHPHDVXULQJ
UDQJHD]RQHJLYHQE\WKHXVHUZKHUHLWLV
QRWSRVVLEOHWRPHDVXUH:HUHFRPPHQGD
EORFNLQJGLVWDQFHRI PP EHORZ
WKHSURFHVVFRQQHFWLRQ:HDOVR
UHFRPPHQGWKDWWKHOLPLWRIWKHPHDVXULQJ
UDQJHLVQRWOHVVWKDQWKHEORFNLQJGLVWDQFH
,ILWLVSRVVLEOHWKDWWKHWDQNFRQWHQWVZLOOJR
DERYHWKHEORFNLQJGLVWDQFHVHW
29(5)(1$%WR<HV,IWKHGLVWDQFHLV
OHVVWKDQWKHEORFNLQJGLVWDQFHWKHGHYLFH
FRQWLQXHVWRGLVSOD\WKHEORFNLQJGLVWDQFH
PLQ PP RU
$17(11$(;7
PD[7$1.+(,*+7
 PP 
 7,0(&2167 8VLQJWKLVIXQFWLRQWKHGHYLFHSURFHVVHV
VHYHUDOPHDVXUHPHQWUHDGLQJVWRILOWHURXW
GLVWXUEDQFHV,QFUHDVLQJWKHWLPHFRQVWDQW
ZLOOVPRRWKHQWKHLQWHJUDWHGUHDGLQJV
GHFUHDVLQJZLOOURXJKHQWKHUHDGLQJV
V VHFRQGV
PLQPD[ V  V
 7$*1$0( 7KHGHYLFHKDVDQLGHQWLILFDWLRQFRGHWDJ
QDPH7KHVXSHUYLVRUFDQHQWHUD
PD[LPXPRIQXPEHUVRUOHWWHUV
 $17(11$(;7 2SWLRQDODQWHQQDH[WHQVLRQV7KHVHDUH
DWWDFKHGEHWZHHQWKHIODQJHDQGWKH
DQWHQQD
PLQ PP RU
$17(11$(;7
PD[ PP RU
7$1.+(,*+7
0HQX
1R
)XQFWLRQ )XQFWLRQGHVFULSWLRQ 6HOHFWLRQOLVW 'HIDXOW
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
 ',673,(&( 2SWLRQDOGLVWDQFHSLHFHEHWZHHQWKH
FRQYHUWHUDQGWKHSURFHVVFRQQHFWLRQ7KLV
LVIRUKLJKWHPSHUDWXUHDSSOLFDWLRQVPRUH
WKDQ& )7KHGLVWDQFHSLHFHLV
 PP ORQJ)RUPRUHGDWDUHIHUWR
7HFKQLFDOGDWD
RQSDJH
PLQ PP 
PD[7$1.+(,*+7
 5HIHUHQFHRIIVHW2IIVHWUHODWLQJWRD
UHIHUHQFHORFDWLRQGLVWDQFH7KLVYDOXHLV
SRVLWLYHZKHQWKHUHIHUHQFHORFDWLRQLV
DERYHWKHGHYLFHIODQJHIDFHDQGQHJDWLYHLI
EHORZ)RUPRUHGDWDUHIHUWR
'LVWDQFH
PHDVXUHPHQW
RQSDJH
PLQPD[
WDQNKHLJKW« P 
WDQNKHLJKW IW
 P  IW
 7DQNERWWRPRIIVHW2IIVHWUHODWLQJWRD
UHIHUHQFHORFDWLRQOHYHO7KHGHYLFH
UHIHUHQFHSRLQWIRUWKLVSDUDPHWHULVWKH
ERWWRPRIWKHWDQNVHWLQPHQXLWHP
&7KLVYDOXHLVSRVLWLYHZKHQWKH
UHIHUHQFHORFDWLRQLVEHORZWKHWDQNERWWRP
DQGQHJDWLYHLIDERYH)RUPRUHGDWDUHIHU
WR
/HYHOPHDVXUHPHQW
RQSDJH
PLQPD[
WDQNKHLJKW P 
WDQNKHLJKW IW
 P  IW
287387,
 287387)81& 7KHRXWSXWIXQFWLRQ6HOHFWDQRXWSXW
IXQFWLRQWRVFDOHWKHFXUUHQWYDOXHVLQ
UHODWLRQWRDJLYHQSRLQWXVXDOO\WKHGHYLFH
SURFHVVFRQQHFWLRQRUWKHWDQNERWWRP7KH
RXWSXWFXUUHQWYDOXHLVVKRZQRQDEDU
JUDSKLQQRUPDOPRGHLIWKHPHDVXUHPHQW
W\SHLVWKHVDPHDVWKHRXWSXWIXQFWLRQ
&RQYHUVLRQSDUDPHWHUVDUHVKRZQ
&RQYHUVLRQ8OODJHFRQYHUVLRQLIWKHUHLV
OHYHOYROXPHOHYHOPDVVRUOHYHOIORZUDWH
GDWDLQ,13877$%/(
'LVWDQFH/HYHO
&RQYHUVLRQ8OODJH
FRQYHUVLRQ5HIOHFWLRQ
 5$1*(, 7KLVPHQXLWHPVHWVWKHOLPLWVRIWKHRXWSXW
FXUUHQWUDQJHWRRIWKHDYDLODEOHRSWLRQV
VWDQGDUGOLPLWV P$RU1$085
1( FRPSOLDQWOLPLWV P$,W
DOVRWHOOVWKHGHYLFHZKDWWRGRLIDQHUURU
RFFXUVLI\RXVHW5$1*(,WR(
((
(DQG
DQHUURURFFXUVHJWKHWDQNLVWRRIXOO
WKHGHYLFHRXWSXWFXUUHQWZLOOFKDQJHWRDQ
HUURUYDOXHRI P$,I\RXVHW5$1*(,WR


DQGWKHGHYLFHVHQVHVDPHDVXUHPHQW
HUURUWKHYDOXHZLOOVWRSDWWKHODVWFRUUHFW
PHDVXUHPHQW
(
((
(
(
 6&$/(P$ 7KLVJLYHVDPHDVXUHPHQWYDOXHWR P$ PLQPD[

 6&$/(P$ 7KLVJLYHVDPHDVXUHPHQWYDOXHWR P$ PLQPD[

 (5525'(/$< 7KHWLPHDIWHUZKLFKWKHFXUUHQWRXWSXW
FKDQJHVWRDQHUURUYDOXH7KHHUURUYDOXH
VKRZVWKDWWKHUHLVDPHDVXUHPHQWHUURU
PQ PLQXWHVDQGV VHFRQGV
 V V V V PQ
 PQ PQ PQ  V
$33/,&$7,21
 7$1.7<3( 7KHFRQGLWLRQVLQZKLFKWKHGHYLFHLVXVHG,I
WKHVXUIDFHRIWKHSURGXFWLVIODWVHOHFW
6WRUDJH,IWKHVXUIDFHRIWKHSURGXFWLV
GLVWXUEHGVHOHFW3URFHVV,IWKHVXUIDFHRI
WKHSURGXFWLVDJLWDWHGZLWKYRUWH[HVDQG
IRDPVHOHFW$JLWDWRU
6WRUDJH3URFHVV
$JLWDWRU 3URFHVV
0HQX
1R
)XQFWLRQ )XQFWLRQGHVFULSWLRQ 6HOHFWLRQOLVW 'HIDXOW
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
 67,//:(//' 7KHLQQHUGLDPHWHURIWKHVWLOOLQJZHOO,IWKH
GHYLFHLVLQVWDOOHGLQDVWLOOLQJZHOORUKDVD
:DYH*XLGHDQWHQQDHQWHUWKHGLDPHWHU
7KHGHYLFHZLOOXVHWKLVGDWDLI\RXVHW
67,//:(//(1WR<HV7KLVPHQXLWHPLV
QRWVKRZQLI\RXVHW67,//:(//(1WR
1R
PLQPD[ PP 

 75$&,1*9(/ 0D[LPXPWUDFNLQJYHORFLW\7KLVYDOXHPXVW
DJUHHZLWKWKHPD[LPXPUDWHRIFKDQJHRI
WKHOHYHORIWKHOLTXLGLQWKHWDQN
PLQPD[
« PPLQ  PPLQ
 0($68502'( 7KHGHYLFHXVHVWKHGLHOHFWULFFRQVWDQWH
U

RIWKHWDQNFRQWHQWVWRPRQLWRUOHYHO,Q
GLUHFWPRGHLIWKHGLHOHFWULFFRQVWDQWLV
KLJKWKHOHYHOVLJQDOLVDUHIOHFWLRQRQWKH
VXUIDFHRIWKHWDQNFRQWHQWV,IWKHGLHOHFWULF
FRQVWDQWLVORZWKHGHYLFHXVHV7%)PRGH
7KHGHYLFHLQ7%)PRGHXVHVWKHUDGDU
UHIOHFWLRQRQWKHERWWRPRIWKHWDQNWKH
VLJQDOJRHVWKURXJKWKHWDQNFRQWHQWV7KH
WDQNPXVWKDYHDIODWERWWRPIRUWKHGHYLFH
WRRSHUDWHFRUUHFWO\LQ7%)PRGH7KLV
PHQXLWHPLVVHWE\GHIDXOWWR'LUHFWIRU
WDQNFRQWHQWVZLWKDQH
U
!,IH
U
LVYHU\ORZ
XVH7%))XOO,IH
U
LVORZH
U
XVH7%)3DUWLDOPRGH7%)
3DUWLDOLVDQDXWRPDWLFPRGHWKDWOHWVWKH
GHYLFHPDNHDVHOHFWLRQEHWZHHQ'LUHFW
PRGHDQG7%)PRGH,I\RXXVH7%))XOO
RU7%)3DUWLDOHQWHUWKHGLHOHFWULF
FRQVWDQWLQPHQXLWHP(U352'8&7
5HIHUDOVRWR0HDVXULQJSULQFLSOHRQSDJH

'LUHFW7%)3DUWLDO7%)
)XOO 'LUHFW
 (U352'8&7 )RUPHDVXUHPHQWLQ7%)PRGHRQO\7KH
GHYLFHDXWRPDWLFDOO\FDOFXODWHVWKHOHYHO
EDVHGRQWKHSURGXFWH
U
,I\RXVHOHFW7%)
3DUWLDORU7%))XOOLQPHQXLWHP
0($68502'(\RXFDQFKDQJHWKHH
U
YDOXH
PDQXDOO\WRDGMXVWUHDGLQJV
PLQPD[WR 
 29(5)(1$% ,IWKLVIXQFWLRQLVLQRSHUDWLRQWKHGHYLFHZLOO
PRQLWRUWKHOHYHOHYHQLILWLVLQWKHEORFNLQJ
GLVWDQFH7KHUHDGLQJVKRZQRQWKHGLVSOD\
VWD\VIL[HGDWWKHEORFNLQJGLVWDQFHLIWKH
OHYHOLVKLJKHUWKDQWKHEORFNLQJGLVWDQFH
7KHRXWSXWZLOOVKRZWKDWWKHWDQNLVIXOO$Q
HUURULVUHFRUGHGE\GHIDXOW
,IWKLVIXQFWLRQLVQRWLQRSHUDWLRQWKH
GHYLFHORRNVIRUWKHODUJHVWVLJQDOEHWZHHQ
WKHSURFHVVFRQQHFWLRQDQGWKHWDQNERWWRP
<(612 12
 29(5)
7+5(6+ 7KHRYHUILOOWKUHVKROG7%'
0HQX
1R
)XQFWLRQ )XQFWLRQGHVFULSWLRQ 6HOHFWLRQOLVW 'HIDXOW
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
 08/75()(1 0XOWLSOHUHIOHFWLRQVZLOOFDXVHWKHGHYLFHWR
GLVSOD\VPDOOHUOHYHOUHDGLQJV2EMHFWVLQ
WKHWDQNVKDUSFRUQHUVLQVWDOODWLRQRIWKH
GHYLFHRQDODUJHQR]]OHRUDWWKHFHQWUHRID
GRPHURRIDQGORZGLHOHFWULFSURGXFWVH
U
FDQFDXVHPXOWLSOHUHIOHFWLRQV$
YHU\FDOPVXUIDFHRUDWDQNZLWKDVPDOO
FRQYH[RUIODWURRIFDQDOVRFDXVHPXOWLSOH
UHIOHFWLRQV
,IWKLVIXQFWLRQLVLQRSHUDWLRQWKHGHYLFH
ORRNVIRUWKHILUVWVLJQDOSHDNEHORZWKH
SURFHVVFRQQHFWLRQ7KLVVLJQDOSHDNLVWKHQ
XVHGWRPHDVXUHWKHOHYHORIWKHWDQN
FRQWHQWV,IWKLVIXQFWLRQLVQRWLQRSHUDWLRQ
WKHGHYLFHORRNVIRUWKHODUJHVWVLJQDOEHORZ
WKHSURFHVVFRQQHFWLRQ
<(612 12
 (0363(&(1 7KHVXSHUYLVRUFDQVWDUWRUVWRSWKHHPSW\
VSHFWUXPILOWHU <(612 12
&20081,&$7
 $''5(66 $Q\+$57
DGGUHVVJUHDWHUWKDQZLOO
DFWLYDWH+$57
PXOWLGURSPRGH7KH
FXUUHQWRXWSXWVWD\VFRQVWDQWDW P$
PLQPD[« 
 (DFK+$57YDOXH39SULPDU\YDOXH69
VHFRQGDU\YDOXH79WHUWLDU\YDOXHDQG49
TXDWHUQDU\YDOXHFDQEHVHWWRDGLIIHUHQW
PHDVXUHPHQWW\SHOHYHOGLVWDQFH
UHIOHFWLYLW\FRQYHUVLRQXOODJHFRQYHUVLRQ
',63/$<
 /$1*8$*( 'DWDFDQEHVKRZQLQDQ\RIWKHODQJXDJHV
VWRUHGLQWKHGHYLFH ODQJXDJHVDUHDYDLODEOH
LQSDFNV(QJOLVK
)UHQFK*HUPDQDQG
,WDOLDQ(QJOLVK
)UHQFK6SDQLVKDQG
3RUWXJXHVH(QJOLVK
&KLQHVH0DQGDULQ
-DSDQHVHDQG5XVVLDQ
 /(1*7+81,7 7KHOHQJWKXQLWVKRZQLQQRUPDOPRGH PFPPPLQLQFKHVIW
IHHW P
 &21981,7 &RQYHUVLRQXQLW7KHOHQJWKYROXPHPDVV
RUIORZUDWHFRQYHUVLRQXQLWIRUWKH
FRQYHUVLRQWDEOHDQGVKRZQLQQRUPDO
PRGH
P/JDO86JDOORQV
,PS*,PSHULDOJDOORQV
IWEEORLOEDUUHONJW
6WRQ/WRQPFPPP
LQIWPKIWK
/
 36:'<(612 ,ILWLVQHFHVVDU\WRSURWHFW\RXUVHWWLQJVLQ
WKHVXSHUYLVRUPHQXZLWKDSDVVZRUGVHW
WKLVPHQXLWHPWR<(6
<(6<(6
<(6
<(612 <(6
 3$66:25' 7KLVFKDQJHVWKHSDVVZRUGIRUWKH
VXSHUYLVRUPHQX3XVKWKHEXWWRQVXSWR
WLPHVLQDQ\RUGHU7KLVZLOOEHWKHQHZ
SDVVZRUG7RFRQILUPWKHFKDQJHHQWHUWKH
QHZSDVVZRUGDVHFRQGWLPH)RUPRUH
GDWDUHIHUWR
3URWHFWLRQRIWKHGHYLFH
VHWWLQJV
RQSDJH
>!
!!
!@>A
AA
A@>
@
>
@>!
!!
!@DQG>A
AA
A@
 &2175$67 7KHFRQWUDVWFRQWUROIRUWKHGLVSOD\VFUHHQ
<RXFDQVHOHFWDVKDGHRIJUH\EHWZHHQOLJKW
JUH\OHYHODQGEODFNOHYHO
PLQPD[« 
0HQX
1R
)XQFWLRQ )XQFWLRQGHVFULSWLRQ 6HOHFWLRQOLVW 'HIDXOW
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
6HUYLFHPHQX
0DVWHUPHQX
 ,ILWLVQRWHDV\WRUHDGWKHGDWDRQWKH/&'
GLVSOD\VFUHHQWKLVPHQXLWHPRSHUDWHVWKH
GLVSOD\VFUHHQOLJKW,I\RXVHWWKLVPHQX
LWHPWR<(6
<(6<(6
<(6WKHOLJKWFRPHVRQ
<(612 12
&2197$%/(
 ,13877$%/( 7KHGHYLFHXVHVDFRQYHUVLRQWDEOH
VWUDSSLQJWDEOHWRFRQYHUWPHDVXUHPHQWV
WRYROXPHPDVVDQGIORZUDWHUHDGLQJV7KH
UHDGLQJVDUHVKRZQLQQRUPDOPRGH*LYH
WKHQXPEHURIHQWULHVRQWKHWDEOHPLQ
PD[6HOHFWDQHQWU\DQGHQWHU
WKHOHYHODQGWKHUHODWHGYROXPH PDVV 
IORZUDWHYDOXHIRUWKDWHQWU\3XVK>A
AA
A@WR
FRQILUPWKHHQWU\YDOXHV&RQWLQXHWKH
SURFHGXUHXQWLOWKHGHYLFHKDVGDWDIRUDOO
WKHHQWULHV)RUPRUHGDWDUHIHUWR
+RZWR
FRQILJXUHWKHGHYLFHWRPHDVXUHYROXPHRU
PDVV
RQSDJH
PLQHQWULHV
PD[HQWULHV
OHYHO YROXPHPDVVRU
IORZUDWH
HQWULHV
 '(/(7(7$%/( 7KLVPHQXLWHPHUDVHVWKHGDWDLQWKH
FRQYHUVLRQWDEOH <(612 12
&21),*5(6(7
 6$9( 7KLVPHQXLWHPLVQRWDYDLODEOH <(612 12
 5(&$// 7KLVPHQXLWHPLVQRWDYDLODEOH <(612 12
 5(67$57 7KLVPHQXLWHPVWDUWVWKHGHYLFHDJDLQ <(612 12
 5(6(7)$&7 ,I\RXVHWWKLVPHQXLWHPWR<(6WKH
GHYLFHJRHVEDFNWRLWVLQLWLDOVHWWLQJVVHWE\
WKHPDQXIDFWXUHULQWKHIDFWRU\
<(612 12
7KLVYDOXHLVJLYHQLQWKHFXVWRPHURUGHUGDWD
8QLWVDQGUDQJHGHSHQGRQWKHRXWSXWIXQFWLRQOHQJWKXQLWDQGYROXPHXQLWVHOHFWHG
,IWKHGHYLFHKDVWKH/&'GLVSOD\RSWLRQWKLVGHSHQGVRQGDWDJLYHQLQWKHFXVWRPHURUGHU
0HQX
1R
)XQFWLRQ )XQFWLRQGHVFULSWLRQ 6HOHFWLRQOLVW 'HIDXOW
 6(59,&( $GYDQFHGVHWWLQJV7KHVHWWLQJVLQWKLV
PHQXDUHSURWHFWHGZLWKDSDVVZRUG
2QO\DSSURYHGSHUVRQQHOFDQFKDQJH
WKHSDUDPHWHUVLQWKLVPHQX)RUPRUH
GDWDVSHDNRUZULWHWR\RXUORFDOVDOHV
RIILFH
0HQX
1R
)XQFWLRQ )XQFWLRQGHVFULSWLRQ 6HOHFWLRQOLVW 'HIDXOW
 0$67(5 )DFWRU\VHWWLQJV7KHVHWWLQJVLQWKLV
PHQXDUHSURWHFWHGZLWKDSDVVZRUG
2QO\DSSURYHGSHUVRQQHOFDQFKDQJH
WKHSDUDPHWHUVLQWKLVPHQX)RUPRUH
GDWDVSHDNRUZULWHWR\RXUORFDOVDOHV
RIILFH
0HQX
1R
)XQFWLRQ )XQFWLRQGHVFULSWLRQ 6HOHFWLRQOLVW 'HIDXOW
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
)XUWKHULQIRUPDWLRQRQGHYLFHFRQILJXUDWLRQ
4XLFN6HWXS&RPPLVVLRQLQJ
8VHWKLVSURFHGXUHWRFKDQJHWKHWDQNKHLJKWWDQNW\SHRXWSXWIXQFWLRQRXWSXWUDQJHDQGJLYH
WKHWRSDQGERWWRPPHDVXULQJOLPLWV9DOXHVDQGSDUDPHWHUVWKDWFDQEHFKDQJHGDUHVKRZQ
EHWZHHQWKH© ªPDUNVLQWKHLOOXVWUDWLRQVWKDWIROORZ3XVKWKHNH\SDGEXWWRQVLQWKHFRUUHFW
VHTXHQFH
3URFHGXUH
&$87,21
0DNHVXUHWKDW\RXGRWKLVSURFHGXUHEHIRUH\RXXVHWKHGHYLFH7KHVHWWLQJVLQWKLVSURFHGXUH
KDYHDQHIIHFWRQWKHSHUIRUPDQFHRIWKHGHYLFH
6FUHHQ 6WHSV 'HVFULSWLRQ
á
>!
!!
!@>
@DQG>!
!!
!@ 'HIDXOWVFUHHQ
(QWHUFRQILJXUDWLRQPRGH
683(59,625
á
>!
!!
!@>A
AA
A@>
@>
@>!
!!
!@DQG>A
AA
A@ (QWHUWKHSDVVZRUGWKHGHIDXOWSDVVZRUGLV
VKRZQ,ILWLVQHFHVVDU\WRFKDQJHWKH
SDVVZRUGPHQXLWHP3$66:25'
á
 >!
!!
!@ 3XVKWKLVEXWWRQWRVWDUWWKHTXLFNVHWXS
SURFHGXUH
á
>!
!!
!@WRFKDQJHWKHWDQNKHLJKW+
á
>!
!!
!@WRFKDQJHWKHSRVLWLRQRIWKHFXUVRU
á
>
@WRGHFUHDVHWKHYDOXHRU>
@WR
LQFUHDVHWKHYDOXH
á
>A
AA
A@WRFRQILUP
7KHGLVWDQFHIURPWKHIODQJHIDFH WKUHDG
VWRSRIWKHWDQNFRQQHFWLRQGRZQWRWKHWDQN
ERWWRP,IWKHWDQNKDVDGLVKVKDSHGRU
FRQLFDOERWWRPWKHWDQNKHLJKWLVPHDVXUHG
WRDSRLQWRQWKHWDQNERWWRPGLUHFWO\EHORZ
WKHDQWHQQD
á
>
@RU>
@IRUWKHVHOHFWLRQRIWKH
FRQGLWLRQVLQZKLFKWKHGHYLFHLVXVHG
6WRUDJH3URFHVV$JLWDWRU
á
>A
AA
A@WRFRQILUP
,IWKHVXUIDFHRIWKHSURGXFWLVIODWVHOHFW
6WRUDJH,IWKHVXUIDFHRIWKHSURGXFWLV
GLVWXUEHGVHOHFW3URFHVV,IWKHVXUIDFHRI
WKHSURGXFWLVDJLWDWHGZLWKYRUWH[HVDQG
IRDPVHOHFW$JLWDWRU
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
á
>
@RU>
@IRUWKHVHOHFWLRQRIWKH
PHDVXUHPHQWQDPH'LVWDQFH/HYHO
&RQYHUVLRQ8OODJH&RQYRU5HIOHFWLRQ
á
>A
AA
A@WRFRQILUP
7KHPDQXIDFWXUHUVHWVWKHRXWSXWIXQFWLRQ
WR³/HYHO´EHIRUHGHOLYHU\
,ILWLVQHFHVVDU\WRPHDVXUHYROXPHXOODJH
YROXPHPDVVRUXOODJHPDVV&RQYHUVLRQ
RU8OODJH&RQYUHIHUWR
+RZWRFRQILJXUH
WKHGHYLFHWRPHDVXUHYROXPHRUPDVV
RQ
SDJH
á
>
@RU>
@IRUWKHVHOHFWLRQRIWKHFXUUHQW
RXWSXWUDQJH P$(
(HWF
á
>A
AA
A@WRFRQILUP
á
>!
!!
!@WRFKDQJH6FDOH P$
á
>!
!!
!@WRFKDQJHWKHSRVLWLRQRIWKHFXUVRU
á
>
@WRGHFUHDVHWKHYDOXHRU>
@WR
LQFUHDVHWKHYDOXH
á
>A
AA
A@WRFRQILUP
8VHWKLVVWHSWRJLYHWKH P$RXWSXWVHWWLQJ
OLPLWLQWKHWDQN5HIHUWRWKH
LOOXVWUDWLRQVWKDWIROORZ,OOXVWUDWLRQ
VKRZVWKHVHWWLQJVIRUOHYHO,OOXVWUDWLRQ
VKRZVWKHVHWWLQJVIRUGLVWDQFH
á
>!
!!
!@WRFKDQJH6FDOH P$
á
>!
!!
!@WRFKDQJHWKHSRVLWLRQRIWKHFXUVRU
á
>
@WRGHFUHDVHWKHYDOXHRU>
@WR
LQFUHDVHWKHYDOXH
á
>A
AA
A@WRFRQILUP
8VHWKLVVWHSWRJLYHWKH P$RXWSXW
VHWWLQJOLPLWLQWKHWDQN5HIHUWRWKH
LOOXVWUDWLRQVWKDWIROORZ,OOXVWUDWLRQ
VKRZVWKHVHWWLQJVIRUOHYHO,OOXVWUDWLRQ
VKRZVWKHVHWWLQJVIRUGLVWDQFH
á
>
@RU>
@IRUWKHVHOHFWLRQRIWKHHUURU
GHOD\ V V V V PQ PQ
 PQRU PQ
á
>A
AA
A@WRFRQILUP
7KHWLPHDIWHUZKLFKWKHFXUUHQWRXWSXW
FKDQJHVWRDQHUURUYDOXH7KHHUURUYDOXH
VKRZVWKDWWKHUHLVDPHDVXUHPHQWHUURU
6FUHHQ 6WHSV 'HVFULSWLRQ
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
7HVW
8VHWKLVSURFHGXUHWRWHVWWKHORRSFXUUHQW9DOXHVDQGSDUDPHWHUVWKDWFDQEHFKDQJHGDUH
VKRZQEHWZHHQWKH© ªPDUNVLQWKHLOOXVWUDWLRQVWKDWIROORZ3XVKWKHNH\SDGEXWWRQVLQWKH
FRUUHFWVHTXHQFH
3URFHGXUH
á
>!
!!
!@WRFKDQJHWKHWDJQDPH
á
>!
!!
!@WRFKDQJHWKHSRVLWLRQRIWKHFXUVRU
á
>
@WRGHFUHDVHWKHDOSKDQXPHULFYDOXH
$%RU>
@WRLQFUHDVHWKH
DOSKDQXPHULFYDOXH
á
>A
AA
A@WRFRQILUP
7KHGHYLFHKDVDQLGHQWLILFDWLRQFRGHWDJ
QDPH7KHVXSHUYLVRUFDQHQWHUD
PD[LPXPRIQXPEHUVRUOHWWHUV
á
 >A
AA
A@WRFRQILUP
á
>
@RU>
@IRUWKHVHOHFWLRQRIWKHVDYH
RSWLRQ6725(12RU6725(<(6
á
>A
AA
A@WRFRQILUP
6HWWR6725(<(6WRVDYHDQGXVHWKHGDWD
6HWWR6725(12WRFDQFHOWKHFKDQJHVWR
WKHGHYLFHVHWWLQJV
6FUHHQ 6WHSV 'HVFULSWLRQ
6FUHHQ 6WHS 'HVFULSWLRQ
'HIDXOWVFUHHQ
á
>!
!!
!@>
@DQG>!
!!
!@
á
(QWHUWKHSDVVZRUG>!
!!
!@>A
AA
A@>
@>
@>!
!!
!@
DQG>A
AA
A@
á
>A
AA
A@
á
>
@
á
>!
!!
!@
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
3URWHFWLRQRIWKHGHYLFHVHWWLQJV
7KHPHQXLWHP3$66:25'OHWV\RXFKDQJHWKHVXSHUYLVRUPHQXSDVVZRUG
+RZWRFKDQJHWKHVXSHUYLVRUPHQXSDVVZRUG
á$IWHU\RXHQWHUWKHVXSHUYLVRUPHQXSXVK>
@>!
!!
!@DQG>
@WRJRWRWKHPHQXLWHP
3$66:25'
á(QWHUWKHQHZFKDUDFWHUSDVVZRUGSXVKWKHEXWWRQVLQDQ\VHTXHQFH
á(QWHUWKHQHZFKDUDFWHUSDVVZRUGDJDLQ
K
,IWKHVHFRQGHQWU\LVWKHVDPHDVWKHILUVWWKHGHYLFHZLOOJREDFNWRWKHVXEPHQXOLVW
,IWKHVHFRQGHQWU\LVQRWWKHVDPHDVWKHILUVWWKHGHYLFHZLOOQRWJREDFNWRWKHVXE
PHQXOLVW3XVK>A
AA
A@WRVWDUWWKHSDVVZRUGVHTXHQFHDJDLQDQGHQWHUWKHQHZFKDUDFWHU
SDVVZRUGWLPHV
á3XVK>A
AA
A@WRJREDFNWRWKH6725(VFUHHQ
á3XVK>
@RU>
@WRVHWWKHVFUHHQWR6725(<(6
6725(<(66725(<(6
6725(<(6DQGSXVK>A
AA
A@
K
7KHGHYLFHZLOOVDYHWKHQHZSDVVZRUGDQGJREDFNWRQRUPDOPRGH
+RZWRVHWWKHVXSHUYLVRUSDVVZRUGWRRQRURII
7KHVXSHUYLVRUSDVVZRUGLVVHWWRRQE\GHIDXOW,ILWLVQHFHVVDU\WRVHWWKLVIXQFWLRQWRRII
UHIHUWR
)XQFWLRQGHVFULSWLRQ
RQSDJH7DEOH6XSHUYLVRUPHQXPHQXLWHP36:'<(612

+$57QHWZRUNFRQILJXUDWLRQ
7KHGHYLFHXVHV+$57
FRPPXQLFDWLRQWRVHQGLQIRUPDWLRQWR+$57
FRPSDWLEOHHTXLSPHQW,W
FDQRSHUDWHLQHLWKHUSRLQWWRSRLQWRUPXOWLGURSPRGH7KHGHYLFHZLOOFRPPXQLFDWHLQ
PXOWLGURSPRGHLI\RXFKDQJHWKHDGGUHVV
á
>!
!!
!@
á
>
@WRGHFUHDVHWKHYDOXHRU>
@WR
LQFUHDVHWKHYDOXH
á
>A
AA
A@WRFRQILUP
7KLVVWHSVHWVWKHORRSFXUUHQWYDOXH0DNH
DVHOHFWLRQIURP
RU P$
á
>A
AA
A@WLPHVWRJREDFNWRWKHGHIDXOW
VFUHHQ
7KHORRSFXUUHQWJRHVEDFNWRLQLWLDOYDOXH
'HIDXOWVFUHHQ
6FUHHQ 6WHS 'HVFULSWLRQ
,1)250$7,21
0DNHDQRWHRIWKHSDVVZRUGDQGNHHSLWLQDVDIHSODFH,I\RXORVHWKHSDVVZRUGSOHDVHVSHDN
RUZULWHWR\RXUVXSSOLHU
,1)250$7,21
)RUPRUHGDWDUHIHUWR1HWZRUNVRQSDJH
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
+RZWRFKDQJHIURPSRLQWWRSRLQWWRPXOWLGURSPRGH
á(QWHUWKHVXSHUYLVRUPHQX
á3XVK>!
!!
!@>
@DQG>!
!!
!@WRJRWRPHQXLWHP$''5(66
á3XVK>!
!!
!@WRFKDQJHWKHYDOXH(QWHUDYDOXHEHWZHHQDQGDQGSXVK>A
AA
A@WRFRQILUPUHIHUWR
WKHFDXWLRQEHIRUHWKLVSURFHGXUH
á3XVK>A
AA
A@WRJREDFNWRWKH6725(VFUHHQ
á3XVK>
@RU>
@WRVHWWKHVFUHHQWR6725(<(6
6725(<(66725(<(6
6725(<(6DQGSXVK>A
AA
A@
K
7KHRXWSXWLVVHWWRPXOWLGURSPRGH7KHFXUUHQWRXWSXWLVVHWWR P$7KLVYDOXHGRHVQRW
FKDQJHLQPXOWLGURSPRGH
+RZWRFKDQJHIURPPXOWLGURSWRSRLQWWRSRLQWPRGH
á(QWHUWKHVXSHUYLVRUPHQX
á3XVK>!
!!
!@>
@DQG>!
!!
!@WRJRWRPHQXLWHP$''5(66
á3XVK>!
!!
!@WRFKDQJHWKHYDOXH(QWHUWKHYDOXHDQGSXVK>A
AA
A@WRFRQILUP
á3XVK>A
AA
A@WRJREDFNWRWKH6725(VFUHHQ
á3XVK>
@RU>
@WRVHWWKHVFUHHQWR6725(<(6
6725(<(66725(<(6
6725(<(6DQGSXVK>A
AA
A@
K
7KHRXWSXWLVVHWWRSRLQWWRSRLQWPRGH7KHFXUUHQWRXWSXWFKDQJHVWRDUDQJHRI P$
RU P$WKLVUDQJHLVVHWLQPHQXLWHP5$1*(,
'LVWDQFHPHDVXUHPHQW
7KHGHYLFHGLVSOD\VGLVWDQFHPHDVXUHPHQWVZKHQWKHRXWSXWIXQFWLRQLVVHWWR'LVWDQFH
0HQXLWHPVUHODWHGWRGLVWDQFHPHDVXUHPHQWDUH
á2XWSXW)XQFWLRQ
á7DQN+HLJKW
á%ORFNLQJ'LVWDQFH
8VHWKHIODQJHIDFLQJDVWKHUHIHUHQFHSRLQWIRUWKHDQG P$FXUUHQWRXWSXWVHWWLQJV7KH
DQG P$FXUUHQWRXWSXWVHWWLQJVDUHWKHPLQLPXPDQGPD[LPXPSRLQWVRIWKHPHDVXUHPHQW
VFDOH
<RXFDQFKDQJHWKHUHIHUHQFHSRLQWIURPZKLFKGLVWDQFHLVPHDVXUHG8VHWKLVPHQX
LWHP
á5HIHUHQFH2IIVHW
&$87,21
0DNHVXUHWKDWWKHDGGUHVVIRUWKLVGHYLFHLVGLIIHUHQWIURPRWKHUVLQWKHPXOWLGURSQHWZRUN
,1)250$7,21
,I\RXPRYHWKHUHIHUHQFHSRLQWDERYHWKHIODQJHDGGWKLVYDOXHZKHQ\RXJLYHDGLVWDQFHIRUWKH
DQG P$FXUUHQWRXWSXWVHWWLQJV,I\RXPRYHWKHUHIHUHQFHSRLQWEHORZWKHIODQJHVXEWUDFW
WKLVYDOXHZKHQ\RXJLYHDGLVWDQFHIRUWKHDQG P$FXUUHQWRXWSXWVHWWLQJV
&$87,21
,IWKHGLVWDQFHIRU P$LVVHWLQWKHEORFNLQJGLVWDQFHWKHGHYLFHZLOOQRWEHDEOHWRXVHWKHIXOO
FXUUHQWRXWSXWUDQJH
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
/HYHOPHDVXUHPHQW
7KHGHYLFHGLVSOD\VOHYHOPHDVXUHPHQWVZKHQWKHRXWSXWIXQFWLRQLVVHWWR/HYHO
0HQXLWHPVUHODWHGWROHYHOPHDVXUHPHQWDUH
á2XWSXW)XQFWLRQ
á7DQN+HLJKW
á%ORFNLQJ'LVWDQFH
<RXFDQFKDQJHWKHUHIHUHQFHSRLQWIURPZKLFKOHYHOLVPHDVXUHG8VHWKLVPHQXLWHP
á7DQN%RWWRP2IIVHW
)LJXUH'LVWDQFHPHDVXUHPHQW
7DQN+HLJKW
5HIHUHQFH2IIVHW
%ORFNLQJ'LVWDQFH
 P$6HWWLQJ
 P$6HWWLQJ
0D[LPXPHIIHFWLYHPHDVXULQJUDQJH
1RQPHDVXUHPHQW]RQH
&$87,21
,IWKHOHYHOIRUWKH P$LVVHWLQWKHEORFNLQJGLVWDQFHWKHGHYLFHZLOOQRWEHDEOHWRXVHWKHIXOO
FXUUHQWRXWSXWUDQJH
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
+RZWRFRQILJXUHWKHGHYLFHWRPHDVXUHYROXPHRUPDVV
7KHGHYLFHFDQEHFRQILJXUHGWRPHDVXUHYROXPHRUPDVV<RXFDQVHWXSDVWUDSSLQJWDEOHLQWKH
FRQYHUVLRQWDEOH&2197$%VXEPHQX(DFKHQWU\LVDSDLURIGDWDOHYHO±YROXPHOHYHO±
PDVVRUOHYHO±IORZUDWH7KHVWUDSSLQJWDEOHPXVWKDYHDPLQLPXPRIHQWULHVDQGD
PD[LPXPRI7KHUHIHUHQFHSRLQWIRUWKHWDEOHLVWKHERWWRPRIWKHWDQNDVJLYHQLQPHQXLWHP
7$1.+(,*+7
+RZWRSUHSDUHDVWUDSSLQJWDEOHFRQYHUVLRQWDEOH
á(QWHUWKHVXSHUYLVRUPHQX
á3XVK>!
!!
!@>
@>!
!!
!@DQG>
@WRJRWR/(1*7+81,7
á3XVK>
@DQG>
@WRILQGWKHOHQJWKXQLWWKDW\RXZLOOXVHLQWKHWDEOH
á3XVK>A
AA
A@WRJRWRWKHVXEPHQXOHYHO
á3XVK>
@WRJRWR&21981,7FRQYHUVLRQXQLW
á3XVK>
@DQG>
@WRILQGWKHFRQYHUVLRQXQLWWKDW\RXZLOOXVHLQWKHWDEOH
á3XVK>A
AA
A@WRJRWRWKHVXEPHQXOHYHODQGWKHQ>
@DQG>!
!!
!@WRJRWRWKHPHQXLWHP,1387
7$%
á3XVK>!
!!
!@WRPDNHWKHVWUDSSLQJWDEOH(QWHUWKHWDEOHHQWU\QXPEHU
á(QWHUWKHOHQJWKYDOXHDQGSXVK>A
AA
A@
á(QWHUWKHFRQYHUVLRQYDOXHDQGSXVK>A
AA
A@
á3XVK>!
!!
!@WRHQWHUWKHVXEVHTXHQWWDEOHHQWU\QXPEHU
á5HSHDWWKHODVWVWHSVWRFRPSOHWHWKHWDEOH
á3XVK>A
AA
A@WRJREDFNWRWKH6725(VFUHHQ
á3XVK>
@RU>
@WRVHWWKHVFUHHQWR6725(<(6
6725(<(66725(<(6
6725(<(6DQGSXVK>A
AA
A@
)LJXUH/HYHOPHDVXUHPHQW
7DQN%RWWRP2IIVHW
7DQN+HLJKW
%ORFNLQJ'LVWDQFH
0D[LPXPHIIHFWLYHPHDVXULQJUDQJH
 P$6HWWLQJ
 P$6HWWLQJ
1RQPHDVXUHPHQW]RQH
&$87,21
(QWHUWKHGDWDLQQXPHULFDOVHTXHQFHVWUDSSLQJWDEOHHQWU\QXPEHUHWF
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
K
7KHGHYLFHZLOOVWRUHWKHGDWDIRUWKHVWUDSSLQJWDEOHDQGJREDFNWRQRUPDOPRGH
7KHGHYLFHZLOOJLYHPRUHDFFXUDWHYROXPHUHDGLQJVLI\RXJLYHPRUHFRQYHUVLRQGDWDLQWKHVH
DUHDV
á6XUIDFHVZLWKFXUYHV
á6XGGHQFKDQJHVLQWKHFURVVVHFWLRQ
5HIHUDOVRWRWKHLOOXVWUDWLRQWKDWIROORZV
+RZWRGHOHWHDYROXPHRUPDVVWDEOH
á(QWHUWKHVXSHUYLVRUPHQX
á3XVK>
@>!
!!
!@DQG>
@WRJRWR'(/(7(7$%/(
á3XVK>!
!!
!@DQG>
@WRVHWWKHSDUDPHWHUWR<(6
<(6<(6
<(6
á3XVK>A
AA
A@WRJREDFNWRWKH6725(VFUHHQ
á3XVK>
@RU>
@WRVHWWKHVFUHHQWR6725(<(6
6725(<(66725(<(6
6725(<(6DQGSXVK>A
AA
A@
K
7KHGHYLFHZLOOGHOHWHWKHGDWDIRUWKHVWUDSSLQJWDEOHDQGJREDFNWRQRUPDOPRGH7KH
&219(56,21DQG8//$*(&219GDWDDUHQRWDYDLODEOHLQQRUPDOPRGH
+RZWRPDNHDILOWHUWRUHPRYHUDGDUVLJQDOLQWHUIHUHQFH
,IWKHGHYLFHPHDVXUHVOHYHOLQDWDQNWKDWFRQWDLQVREVWUXFWLRQVDJLWDWRUVXSSRUWVKHDWLQJ
SLSHVHWFWKHVHREMHFWVFDQFDXVHUDGDUVLJQDOLQWHUIHUHQFHSDUDVLWLFVLJQDOV<RXFDQXVHWKH
HPSW\VSHFWUXPIXQFWLRQPHQXLWHPLQWKH4XLFN6HWXSPHQXWRPDNHDILOWHUWRUHPRYH
UDGDUVLJQDOLQWHUIHUHQFH
)LJXUH$SORWRISRLQWVIRUDYROXPHRUPDVVWDEOH


23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
+RZWRPHDVXUHFRUUHFWO\LQWDQNVZLWKFXUYHGRUFRQLFDOERWWRPV
<RXFDQRIIVHWWKHWDQNERWWRPUHIHUHQFHSRLQWWRILQGWKHGHOD\HGUDGDUUHIOHFWLRQ2EH\WKH
LQVWUXFWLRQVWKDWIROORZ
á
á,QFUHDVHWKHWDQNKHLJKWLQPHQX&
á*RWRWKHVLJQDOVFUHHQ
VLJQDOVFUHHQVLJQDOVFUHHQ
VLJQDOVFUHHQLQRSHUDWRUPRGH
K
<RXZLOOVHHDJUDSKRIUHIOHFWLRQV
á3XVK>!
!!
!@WRPRYHWKHFXUVRUWRWKHUHIOHFWLRQZLWKWKHODUJHVWDPSOLWXGHJLYHQLQG%
á0DNHDQRWHRIWKHGLVWDQFHRIWKHUHIOHFWLRQPHDVXUHGE\WKHGHYLFH
K
7KHGLVWDQFHWRWKHUHIOHFWLRQZLOOEHWKHQHZWDQNKHLJKW
á6XEWUDFWWKHGLVWDQFHWRWKHUHIOHFWLRQIURPWKHWUXHWDQNKHLJKW
á*RWR6XSHUYLVRU !$GYDQFHG6HWXS !,QVWDOODWLRQ6HWXS !7DQN%RWWRP2IIVHW
6XSHUYLVRU !$GYDQFHG6HWXS !,QVWDOODWLRQ6HWXS !7DQN%RWWRP2IIVHW6XSHUYLVRU !$GYDQFHG6HWXS !,QVWDOODWLRQ6HWXS !7DQN%RWWRP2IIVHW
6XSHUYLVRU !$GYDQFHG6HWXS !,QVWDOODWLRQ6HWXS !7DQN%RWWRP2IIVHW
á7\SHLQWKHGLIIHUHQFH\RXFDOFXODWHGDVDQHJDWLYHYDOXH
K
$QHJDWLYHYDOXHZLOOPRYHWKHUHIHUHQFHSRLQWDERYHWKHWDQNERWWRPDVJLYHQLQPHQX
LWHP&7DQNKHLJKW
á3XVK>A
AA
A@
,1)250$7,21
:HUHFRPPHQGWKDW\RXGRDQHPSW\VSHFWUXPVFDQZKHQWKHWDQNLVHPSW\DQGDOOWKHPRYLQJ
SDUWVDJLWDWRUVHWFDUHLQRSHUDWLRQ
)LJXUH+RZWRPDNHDILOWHUWRUHPRYHUDGDUVLJQDOLQWHUIHUHQFH
(PSW\WDQNEHIRUHWKHGHYLFHXVHVWKHHPSW\VSHFWUXPVFDQZLWKDJUDSKRIUHIOHFWLRQVVKRZQ
3DUWLDOO\ILOOHGWDQNEHIRUHWKHGHYLFHXVHVWKHHPSW\VSHFWUXPVFDQZLWKDJUDSKRIUHIOHFWLRQVVKRZQ
3DUWLDOO\ILOOHGWDQNDIWHUWKHGHYLFHXVHVWKHHPSW\VSHFWUXPVFDQZLWKDJUDSKRIUHIOHFWLRQVVKRZQ
$JLWDWRUEODGHVORFDWLRQ
7DQNERWWRPVLJQDO
$JLWDWRUEODGHVVLJQDOVLQWHUIHUHQFHVLJQDOVEHIRUHWKHGHYLFHGRHVWKHHPSW\VSHFWUXPVFDQ
%DGTXDOLW\PL[HGVLJQDOVRIWKHOLTXLGDQGWKHDJLWDWRUEODGHVEHIRUHWKHGHYLFHGRHVWKHHPSW\VSHFWUXPVFDQ
5HIOHFWHGVLJQDOLIWKHGHYLFHXVHVWKHGDWDIURPWKHHPSW\VSHFWUXPVFDQ7KHGHYLFHRQO\XVHVWKHUHIOHFWLRQRQWKH
VXUIDFHRIWKHOLTXLGWRPHDVXUHGLVWDQFH
,1)250$7,21
)RUPRUHGDWDRQHPSW\VSHFWUXPVFDQV
±
WDEOH6XSHUYLVRUPHQXLWHP
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
á3XVK>!
!!
!@DQG>
@(VFDWWKHVDPHWLPHWRH[LWWRWKHVDYHVHWWLQJVZLQGRZ
á6HOHFW6DYH
6DYH6DYH
6DYHDQGSXVK>A
AA
A@
K
7KHGHYLFHZLOOJREDFNWRRSHUDWRUPRGH
6WDWXVDQGHUURUPHVVDJHV
'HYLFHVWDWXVPDUNHUV
,IWKHGHYLFHVHQVHVDFKDQJHLQGHYLFHVWDWXVWKHGLVSOD\VFUHHQZLOOVKRZRUPRUHVWDWXV
PDUNHUVDWWKHERWWRPULJKWVLGHRIWKHGLVSOD\VFUHHQ7KHGLVSOD\VFUHHQZLOODOVRVKRZD
V\PEROWKDWDJUHHVZLWK1$0855HFRPPHQGDWLRQ1( 6HOI0RQLWRULQJDQG'LDJQRVLVRI
)LHOG'HYLFHVDQG9',9'( 7KLVLVVKRZQDWWKHWRSOHIWVLGHRIWKHGLVSOD\VFUHHQ0RUH
GDWDLVJLYHQLI\RXXVH3$&7ZDUHVRIWZDUHZLWKWKHDSSURSULDWH'70RQD3&(UURUFRGHVDQG
GDWDDUHVKRZQRQWKHGHYLFHGLVSOD\VFUHHQDQGLQWKH'70
0HQXLWHP',$*1267,&&RQILJXUDWLRQPRGH 6XSHUYLVRUPHQXVXSSOLHVPRUHGDWD7KLV
LQFOXGHVLQWHUQDOYROWDJHVWKHORRSFXUUHQWDQGWKHUHVHWFRXQWHUZDWFKGRJWLPHU<RXFDQVHH
WKLVGDWDRQWKHGHYLFHGLVSOD\VFUHHQDQGLQWKH'70
7\SHVRIHUURUPHVVDJH
,1)250$7,21
)RUPRUHGDWDRQPHQXLWHPVUHIHUWR)XQFWLRQGHVFULSWLRQRQSDJH
±
WDEOH6XSHUYLVRU
)LJXUH6WDWXVPDUNHUV
'HYLFHVWDWXV1$0851( V\PEROV
6\PERO)DLOXUH
6\PERO)XQFWLRQFKHFN
6\PERO2XWRIVSHFLILFDWLRQ
6\PERO0DLQWHQDQFH
6WDWXVPDUNHUOLQHPDUNHULVVKRZQ
:KHQWKHVWDWXVPDUNHULVRQDQXPEHULVVKRZQ
1( VWDWXV 7\SHRI
HUURU
'HVFULSWLRQ
)DLOXUH (UURU ,IDQHUURUPHVVDJHLVVKRZQLQ(55255(&25'PHQXLWHPWKHFXUUHQW
RXWSXWJRHVWRWKHHUURUVLJQDOYDOXHVHWLQPHQXLWHP5$1*(,PHQXLWHP
DIWHUWKHWLPHVHWLQ(5525'(/$<PHQXLWHP)RUPRUHGDWDDERXWPHQX
LWHPV
2XWRIVSHFLILFDWLRQ :DUQLQJ ,IDZDUQLQJPHVVDJHLVVKRZQWKHUHLVQRHIIHFWRQWKHFXUUHQWRXWSXWYDOXH
0DLQWHQDQFH
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
,IDQ2XWRIVSHFLILFDWLRQRUD0DLQWHQDQFHVWDWXVV\PEROLVVKRZQUHIHUWRPHQXLWHP
',$*1267,&&RQILJXUDWLRQPRGH 6XSHUYLVRUPHQXIRUPRUHGDWD
)RUGDWDRQHUURUVHUURUUHFRUGVDQGHUURUFRGHVUHIHUWR
(UURUKDQGOLQJ
RQSDJH
(UURUKDQGOLQJ
+RZWRILQGDQHUURUUHFRUG
á3XVK>!
!!
!@WRHQWHUFRQILJXUDWLRQPRGHIURPQRUPDOPRGH
á3XVK>!
!!
!@>
@DQG>!
!!
!@WRJRWRPHQXLWHP(55255(&25'
á3XVK>!
!!
!@WRORRNDWWKHHUURUOLVW3XVK>
@RU>
@IRUWKHVHOHFWLRQRIDQHUURU
K
7KHHUURUUHFRUGJLYHVWKHQXPEHURIWLPHVWKHHUURURFFXUUHGDQGWKHWLPHVLQFHWKHODVW
HUURUPHVVDJH
'HVFULSWLRQRIHUURUVDQGFRUUHFWLYHDFWLRQV
)LJXUH(UURUUHFRUGGDWD
(UURUFRGHIRUWKHHUURU
1XPEHURIWLPHVWKHHUURURFFXUUHG
7LPHVLQFHWKHODVWHUURUUHFRUGGD\VKRXUVPLQXWHVDQGVHFRQGVVKRZQLQWKLVH[DPSOH
,1)250$7,21
7KHWLPHVLQFHWKHHUURURFFXUUHGLVPHDVXUHGLQ'D\V'+RXUV+0LQXWHVDQG6HFRQGV
,WRQO\LQFOXGHVWKHWLPHZKHQWKHGHYLFHLVHQHUJL]HG7KHHUURULVVDYHGLQWKHPHPRU\RIWKH
GHYLFHZKHQLWLVGHHQHUJL]HG7KHFRXQWHUFRQWLQXHVZKHQWKHGHYLFHLVHQHUJL]HGDJDLQ
(UURU
FRGH
(UURU0HVVDJH 6WDWXVPDUNHU
VKRZQ
&DXVH &RUUHFWLYHDFWLRQ
)DLOXUH1( VWDWXVVLJQDO
(55 'HYLFHUHVHW 7KHGHYLFHGHWHFWHGDQLQWHUQDO
HUURUZDWFKGRJWLPHULVVXH 5HFRUGWKHGDWDWKDWLVLQPHQX
LWHP',$*1267,&
&RQILJXUDWLRQPRGH 
6XSHUYLVRUPHQX6SHDNWRWKH
VXSSOLHU
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
(55 &XUUHQW2XWSXW'ULIW 7KHFXUUHQWRXWSXWLVQRW
FDOLEUDWHG 6SHDNWRWKHVXSSOLHUWRJHWWKH
FDOLEUDWLRQSURFHGXUH
 +DUGZDUHHUURU 5HSODFHWKHGHYLFH
(55 7HPSHUDWXUHRXWRI
UDQJH  7KHDPELHQWWHPSHUDWXUHLV
RXWVLGHWKHJLYHQUDQJH7KLV
FDQFDXVHORVVRUFRUUXSWLRQRI
GDWD
0HDVXUHWKHDPELHQW
WHPSHUDWXUH'HHQHUJL]HWKH
GHYLFHXQWLOWKHDPELHQW
WHPSHUDWXUHLVEDFNLQWKHJLYHQ
UDQJH,IWKHWHPSHUDWXUHGRHV
QRWVWD\LQWKHFRUUHFWUDQJH
PDNHVXUHWKDWWKHUHLV
LQVXODWLRQDURXQGWKHVLJQDO
FRQYHUWHU,IWKLVHUURURFFXUV
WLPHVUHSODFHWKHGHYLFH
(55 &RQYHUWHUPHPRU\
IDLOXUH  7KHGHYLFHVKDUGZDUHLV
GHIHFWLYH 5HSODFHWKHVLJQDOFRQYHUWHU
)RUPRUHGDWDUHIHUWR
+RZWR
WXUQRUUHPRYHWKHVLJQDO
FRQYHUWHU
RQSDJH
(55 &RQYHUWHU9ROWDJH
IDLOXUH  7KHGHYLFHVKDUGZDUHLV
GHIHFWLYH 5HSODFHWKHVLJQDOFRQYHUWHU
)RUPRUHGDWDUHIHUWR
+RZWR
WXUQRUUHPRYHWKHVLJQDO
FRQYHUWHU
RQSDJH
(55 ,QWHUQDO
&RPPXQLFDWLRQ  7KHGHYLFHVKDUGZDUHRU
VRIWZDUHLVGHIHFWLYH7KH
FRQYHUWHUFDQQRWWUDQVPLW
VLJQDOVWRRUUHFHLYHVLJQDOV
IURPWKHDQWHQQDHOHFWURQLFV
'HHQHUJL]HWKHGHYLFH0DNH
VXUHWKDWWKHVLJQDOFDEOH
HQJDJHVLQWKHWHUPLQDODQGWKH
VFUHZFRQQHFWLRQLVWLJKW
(QHUJL]HWKHGHYLFH,IWKH
SUREOHPFRQWLQXHVUHSODFHWKH
VLJQDOFRQYHUWHU)RUPRUHGDWD
UHIHUWR
+RZWRWXUQRUUHPRYH
WKHVLJQDOFRQYHUWHU
RQSDJH
(55 2YHUILOO 7KHOHYHOLVLQWKHEORFNLQJ
GLVWDQFH7KHUHLVDULVNWKDWWKH
SURGXFWZLOORYHUIORZDQGRU
FRYHUWKHDQWHQQD
8VHDGLIIHUHQWSURFHGXUHWR
PHDVXUHWKHOHYHOLQWKHWDQN
5HPRYHVRPHRIWKHSURGXFW
XQWLOWKHOHYHOLVEHORZWKH
EORFNLQJGLVWDQFH
,IDYLVFRXVSURGXFWWRXFKHGWKH
DQWHQQD
á
UHPRYHWKHGHYLFHDQGFOHDQ
WKHDQWHQQDRU
á
,IWKHGHYLFHKDVDSXUJLQJ
RSWLRQXVHWKHSXUJLQJV\VWHP
WRFOHDQWKHDQWHQQD
(55 3HDN/RVW/HYHO
/RVW  7KHVLJQDOSHDNLVQRWIRXQG
ZLWKLQWKHPHDVXULQJZLQGRZ
WKDWILOWHUVWKHVLJQDOVUHFHLYHG
E\WKHDQWHQQD7KH
PHDVXUHPHQWLVQRWFRUUHFW
7KHGHYLFHZLOODXWRPDWLFDOO\
LQFUHDVHWKLVZLQGRZWRILQGWKH
FRUUHFWVLJQDO
'RDFKHFNRIWKHGHYLFHWDQN
DQGWKHSURFHVV5HFRQILJXUH
WKHGHYLFHDQGUHFRUGDQHZ
HPSW\VSHFWUXP)ROORZWKH
LQVWUXFWLRQVRQSDJH,I
QHFHVVDU\VSHDNWRWKH
VXSSOLHU
(55 6HQVRUQR6LJQDO 7KHGHYLFHVKDUGZDUHLV
GHIHFWLYH 5HSODFHWKHVLJQDOFRQYHUWHU
)RUPRUHGDWDUHIHUWR
+RZWR
WXUQRUUHPRYHWKHVLJQDO
FRQYHUWHU
RQSDJH
(55 6HQVRU0LFURZDYH
IDLOXUH  7KHGHYLFHVKDUGZDUHLV
GHIHFWLYH 5HSODFHWKHVLJQDOFRQYHUWHU
)RUPRUHGDWDUHIHUWR
+RZWR
WXUQRUUHPRYHWKHVLJQDO
FRQYHUWHU
RQSDJH
(UURU
FRGH
(UURU0HVVDJH 6WDWXVPDUNHU
VKRZQ
&DXVH &RUUHFWLYHDFWLRQ
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
(55 6HQVRU0HPRU\
IDLOXUH  7KHGHYLFHVKDUGZDUHLV
GHIHFWLYH 5HSODFHWKHVLJQDOFRQYHUWHU
)RUPRUHGDWDUHIHUWR
+RZWR
WXUQRUUHPRYHWKHVLJQDO
FRQYHUWHU
RQSDJH
(55 6HQVRU9ROWDJH
IDLOXUH  7KHGHYLFHVKDUGZDUHLV
GHIHFWLYH 'RDFKHFNRIWKHSRZHUVXSSO\
DWWKHGHYLFHWHUPLQDOV0DNH
VXUHWKDWYROWDJHYDOXHVDUHLQ
WKHVSHFLILHGOLPLWVLQPHQX
LWHP',$*1267,&
&RQILJXUDWLRQPRGH 
6XSHUYLVRUPHQX,IWKHYROWDJH
LVFRUUHFWUHSODFHWKHVLJQDO
FRQYHUWHU)RUPRUHGDWDRQ
KRZWRUHSODFHWKHVLJQDO
FRQYHUWHUUHIHUWR
+RZWRWXUQ
RUUHPRYHWKHVLJQDOFRQYHUWHU
RQSDJH
(55 6HQVRU1RW
FRPSDWLEOH  7KHVRIWZDUHYHUVLRQRIWKH
VHQVRULVQRWFRPSDWLEOHZLWK
WKHVRIWZDUHYHUVLRQRIWKH
VLJQDOFRQYHUWHU
*RWRPHQX,'(17LQ
&RQILJXUDWLRQPRGH5HFRUGWKH
YHUVLRQQXPEHUVRIWKHGHYLFH
VRIWZDUHJLYHQLQPHQXLWHPV
DQG*LYHWKLV
GDWDWRWKHVXSSOLHU
 'HIHFWLYHZLULQJ
2XWRIVSHFLILFDWLRQ1( VWDWXVVLJQDO
(55 7HPSHUDWXUH2XWRI
5DQJH  7KHDPELHQWWHPSHUDWXUHLV
RXWVLGHWKHJLYHQUDQJH7KLV
FDQFDXVHORVVRUFRUUXSWLRQRI
GDWD
0HDVXUHWKHDPELHQW
WHPSHUDWXUH'HHQHUJL]HWKH
GHYLFHXQWLOWKHDPELHQW
WHPSHUDWXUHLVEDFNLQWKHJLYHQ
UDQJH,IWKHWHPSHUDWXUHGRHV
QRWVWD\LQWKHFRUUHFWUDQJH
PDNHVXUHWKDWWKHUHLV
LQVXODWLRQDURXQGWKHVLJQDO
FRQYHUWHU,IWKLVHUURURFFXUV
WLPHVUHSODFHWKHGHYLFH
(55 2YHUILOO 7KHOHYHOLVLQWKHEORFNLQJ
GLVWDQFH7KHUHLVDULVNWKDWWKH
SURGXFWZLOORYHUIORZDQGRU
FRYHUWKHGHYLFH
5HPRYHVRPHRIWKHSURGXFW
XQWLOWKHOHYHOLVEHORZWKH
EORFNLQJGLVWDQFH
(55 3HDN/RVW 7KHVLJQDOSHDNLVQRWIRXQG
ZLWKLQWKHPHDVXULQJZLQGRZ
WKDWILOWHUVWKHVLJQDOVUHFHLYHG
E\WKHDQWHQQD7KH
PHDVXUHPHQWLVQRWFRUUHFW
7KHGHYLFHZLOODXWRPDWLFDOO\
LQFUHDVHWKLVZLQGRZWRILQGWKH
FRUUHFWVLJQDO
'RDFKHFNRIWKHGHYLFHWDQN
DQGWKHSURFHVVDQGPDNHVXUH
WKDWWKHGDWDDJUHHVZLWKWKH
GHYLFHFRQILJXUDWLRQ,I
QHFHVVDU\UHFRUGDQHZHPSW\
VSHFWUXP)ROORZWKH
LQVWUXFWLRQVRQSDJH,I
QHFHVVDU\VSHDNWRWKH
VXSSOLHU
0DLQWHQDQFH1( VWDWXVVLJQDO
²(PSW\6SHFWUXP
,QYDOLG  7KHHPSW\VSHFWUXPVWRUHGLQ
WKHGHYLFHGRHVQRWDJUHHZLWK
WKHLQVWDOODWLRQ,I\RXFKDQJH
WKHGHYLFHFRQILJXUDWLRQWDQN
KHLJKWHWFWKLVPHVVDJHZLOO
EHVKRZQ7KHUHFRUGHGHPSW\
VSHFWUXPZLOOQRWEHXVHGE\
WKHGHYLFHZKLOHWKLVHUURU
PHVVDJHLVVKRZQ

5HFRUGDQHZHPSW\VSHFWUXP
)ROORZWKHLQVWUXFWLRQVRQSDJH

(UURU
FRGH
(UURU0HVVDJH 6WDWXVPDUNHU
VKRZQ
&DXVH &RUUHFWLYHDFWLRQ
23(5$7,21

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
²6LJQDO:HDN  7KHVLJQDODPSOLWXGHLVOHVV
WKDQWKHDYHUDJHYDOXH7KLVFDQ
RFFXULIWKHOLTXLGLVDJLWDWHGRU
LIWKHUHLVIRDPLQWKHWDQN,I
WKLVHUURURFFXUVIUHTXHQWO\WKH
GHYLFHZLOOSRVVLEO\VKRZWKH
3HDN/RVW/HYHO/RVWHUURU
PHVVDJH

,IWKLVHUURURFFXUVIUHTXHQWO\LW
LVSRVVLEOHWKDW\RXPXVWLQVWDOO
WKHGHYLFHLQDVWLOOLQJZHOORU
XVHDGLIIHUHQWDQWHQQDW\SH
²6LJQDO6WURQJ  7KLVHUURUFDQRFFXULIWKHUHLVD
ODUJHFKDQJHLQVLJQDO
DPSOLWXGH

1RFRUUHFWLYHDFWLRQLV
QHFHVVDU\
²%DG0HDVXUHPHQW
4XDOLW\  7KHPHDVXUHPHQWLVLQFRUUHFW
DQGFRQWLQXHVWREHLQFRUUHFW
DIWHUPRUHWKDQ V7KLVHUURU
FDQRFFXULIWKHWDQNFRQWHQWV
DUHLPPHGLDWHO\EHORZWKH
DQWHQQD

5HFRUGWKHSURFHVVZLWKWKH
3$&7ZDUHVRIWZDUHWRROWR
ILQGWKHFDXVHRIWKHSUREOHP,I
QHFHVVDU\VSHDNWRWKH
VXSSOLHU
²7HPSHUDWXUH
& ) 7KHSURFHVVFRQQHFWLRQRUWKH
DPELHQWWHPSHUDWXUHLVOHVV
WKDQ& )7KLV
WHPSHUDWXUHLVQHDUWRWKH
PLQLPXPOLPLWIRUGHYLFH
RSHUDWLRQ

0HDVXUHWKHDPELHQW
WHPSHUDWXUH'HHQHUJL]HWKH
GHYLFHXQWLOWKHDPELHQW
WHPSHUDWXUHLVEDFNLQWKHJLYHQ
UDQJH,IWKHWHPSHUDWXUHGRHV
QRWVWD\LQWKHFRUUHFWUDQJH
PDNHVXUHWKDWWKHUHLV
LQVXODWLRQDURXQGWKHVLJQDO
FRQYHUWHU
²7HPSHUDWXUH
!& ) 7KHDPELHQWWHPSHUDWXUHLV
PRUHWKDQ& )7KLV
WHPSHUDWXUHLVQHDUWRWKH
PD[LPXPOLPLWIRUGHYLFH
RSHUDWLRQ

0HDVXUHWKHDPELHQW
WHPSHUDWXUH'HHQHUJL]HWKH
GHYLFHXQWLOWKHDPELHQW
WHPSHUDWXUHLVEDFNLQWKHJLYHQ
UDQJH,IWKHWHPSHUDWXUHGRHV
QRWVWD\LQWKHFRUUHFWUDQJH
PDNHVXUHWKDWWKHUHLV
LQVXODWLRQDURXQGWKHVLJQDO
FRQYHUWHU
7KLVHUURUPHVVDJHGRHVQRWKDYHDQHIIHFWRQWKHFXUUHQWRXWSXWVLJQDO
(UURU
FRGH
(UURU0HVVDJH 6WDWXVPDUNHU
VKRZQ
&DXVH &RUUHFWLYHDFWLRQ
6(59,&(

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
3HULRGLFPDLQWHQDQFH
+RZWRFOHDQWKHWRSVXUIDFHRIWKHGHYLFH
2EH\WKHVHLQVWUXFWLRQV
á.HHSWKHWKUHDGRIWKHWHUPLQDOFRPSDUWPHQWFRYHUFOHDQ
á,IGLUWFROOHFWVRQWKHGHYLFHFOHDQLW
+RZWRFOHDQKRUQDQWHQQDVXQGHUSURFHVVFRQGLWLRQV
,ILWLVSRVVLEOHWKDWWKHUHZLOOEHEXLOGXSDSXUJLQJRSWLRQLVDYDLODEOHIRUKRUQDQWHQQDV
)RUPRUHGDWDUHIHUWRWKHWDEOHWKDWIROORZV
+RZWRUHSODFHGHYLFHFRPSRQHQWV
6HUYLFHZDUUDQW\
6HUYLFLQJE\WKHFXVWRPHULVOLPLWHGE\ZDUUDQW\WR
á7KHUHPRYDODQGLQVWDOODWLRQRIWKHGHYLFH
á&RPSDFWYHUVLRQ
&RPSDFWYHUVLRQ&RPSDFWYHUVLRQ
&RPSDFWYHUVLRQ7KHUHPRYDODQGLQVWDOODWLRQRIWKHVLJQDOFRQYHUWHUZLWKWKHZHDWKHU
SURWHFWLRQLIWKLVRSWLRQLVDWWDFKHG)RUPRUHGDWDUHIHUWR
+RZWRWXUQRUUHPRYHWKHVLJQDO
FRQYHUWHU
RQSDJH
á5HPRWHILHOGYHUVLRQ
5HPRWHILHOGYHUVLRQ5HPRWHILHOGYHUVLRQ
5HPRWHILHOGYHUVLRQ7KHUHPRYDODQGLQVWDOODWLRQRIWKHUHPRWHFRQYHUWHUDQGRUWKH
DQWHQQDKRXVLQJ)RUPRUHGDWDUHIHUWR
+RZWRWXUQRUUHPRYHWKHVLJQDOFRQYHUWHU
RQSDJH

)RUPRUHGDWDRQKRZWRSUHSDUHWKHGHYLFHEHIRUH\RXVHQGLWEDFNUHIHUWR
5HWXUQLQJWKH
GHYLFHWRWKHPDQXIDFWXUHU
RQSDJH
,1)250$7,21
)RUPRUHGDWDDERXWUHJXODULQVSHFWLRQVDQGPDLQWHQDQFHSURFHGXUHVIRUGHYLFHVZLWK([DQG
RWKHUDSSURYDOVUHIHUWRWKHUHODWHGVXSSOHPHQWDU\LQVWUXFWLRQV
:$51,1*
'RQRWOHWPRUHWKDQ PP 
RIGXVWFROOHFWRQWKHWRSVXUIDFHRIWKHGHYLFH7KLVLVD
SRVVLEOHVRXUFHRILJQLWLRQLQDSRWHQWLDOO\H[SORVLYHDWPRVSKHUH
&$87,21
3XUJHWKHDQWHQQDDWLQWHUYDOVWRPDNHVXUHWKDWWKHLQQHUVXUIDFHRIWKHDQWHQQDVWD\VFOHDQ
DQGWKHGHYLFHPHDVXUHVDFFXUDWHO\
:$51,1*
2QO\DSSURYHGSHUVRQQHOFDQGRDQLQVSHFWLRQRIWKHGHYLFHDQGUHSDLUV,I\RXILQGDSUREOHP
VHQGWKHGHYLFHEDFNWRWKHVXSSOLHUIRULQVSHFWLRQDQGRUUHSDLUV
,1)250$7,21
7KHFRQYHUWHUKRXVLQJFRPSDFWRUUHPRWHYHUVLRQFDQEHGHWDFKHGIURPWKHSURFHVV
FRQQHFWLRQDVVHPEO\XQGHUSURFHVVFRQGLWLRQV)RUPRUHGDWDUHIHUWR+RZWRWXUQRUUHPRYH
WKHVLJQDOFRQYHUWHURQSDJH
6(59,&(

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
6SDUHSDUWVDYDLODELOLW\
7KHPDQXIDFWXUHUDGKHUHVWRWKHEDVLFSULQFLSOHWKDWIXQFWLRQDOO\DGHTXDWHVSDUHSDUWVIRUHDFK
GHYLFHRUHDFKLPSRUWDQWDFFHVVRU\SDUWZLOOEHNHSWDYDLODEOHIRUDSHULRGRI\HDUVDIWHU
GHOLYHU\RIWKHODVWSURGXFWLRQUXQIRUWKHGHYLFH
7KLVUHJXODWLRQRQO\DSSOLHVWRVSDUHSDUWVZKLFKDUHVXEMHFWWRZHDUDQGWHDUXQGHUQRUPDO
RSHUDWLQJFRQGLWLRQV
$YDLODELOLW\RIVHUYLFHV
7KHPDQXIDFWXUHURIIHUVDUDQJHRIVHUYLFHVWRVXSSRUWWKHFXVWRPHUDIWHUH[SLUDWLRQRIWKH
ZDUUDQW\7KHVHLQFOXGHUHSDLUPDLQWHQDQFHWHFKQLFDOVXSSRUWDQGWUDLQLQJ
5HWXUQLQJWKHGHYLFHWRWKHPDQXIDFWXUHU
*HQHUDOLQIRUPDWLRQ
7KLVGHYLFHKDVEHHQFDUHIXOO\PDQXIDFWXUHGDQGWHVWHG,ILQVWDOOHGDQGRSHUDWHGLQDFFRUGDQFH
ZLWKWKHVHRSHUDWLQJLQVWUXFWLRQVLWZLOOUDUHO\SUHVHQWDQ\SUREOHPV
,1)250$7,21
)RUPRUHSUHFLVHLQIRUPDWLRQSOHDVHFRQWDFW\RXUORFDOVDOHVRIILFH
&$87,21
6KRXOG\RXQHYHUWKHOHVVQHHGWRUHWXUQDGHYLFHIRULQVSHFWLRQRUUHSDLUSOHDVHSD\VWULFW
DWWHQWLRQWRWKHIROORZLQJSRLQWV
á
'XHWRVWDWXWRU\UHJXODWLRQVRQHQYLURQPHQWDOSURWHFWLRQDQGVDIHJXDUGLQJWKHKHDOWKDQG
VDIHW\RIWKHSHUVRQQHOWKHPDQXIDFWXUHUPD\RQO\KDQGOHWHVWDQGUHSDLUUHWXUQHGGHYLFHV
WKDWKDYHEHHQLQFRQWDFWZLWKSURGXFWVZLWKRXWULVNWRSHUVRQQHODQGHQYLURQPHQW
á
7KLVPHDQVWKDWWKHPDQXIDFWXUHUFDQRQO\VHUYLFHWKLVGHYLFHLILWLVDFFRPSDQLHGE\WKH
IROORZLQJFHUWLILFDWHVHHQH[WVHFWLRQFRQILUPLQJWKDWWKHGHYLFHLVVDIHWRKDQGOH
&$87,21
,IWKHGHYLFHKDVEHHQRSHUDWHGZLWKWR[LFFDXVWLFIODPPDEOHRUZDWHUHQGDQJHULQJSURGXFWV
\RXDUHNLQGO\UHTXHVWHG
á
WRFKHFNDQGHQVXUHLIQHFHVVDU\E\ULQVLQJRUQHXWUDOLVLQJWKDWDOOFDYLWLHVDUHIUHHIURP
VXFKGDQJHURXVVXEVWDQFHV
á
WRHQFORVHDFHUWLILFDWHZLWKWKHGHYLFHFRQILUPLQJWKDWLVVDIHWRKDQGOHDQGVWDWLQJWKH
SURGXFWXVHG
6(59,&(

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
)RUPIRUFRS\LQJWRDFFRPSDQ\DUHWXUQHGGHYLFH
'LVSRVDO
&$87,21
7RDYRLGDQ\ULVNIRURXUVHUYLFHSHUVRQQHOWKLVIRUPKDVWREHDFFHVVLEOHIURPRXWVLGHRIWKH
SDFNDJLQJZLWKWKHUHWXUQHGGHYLFH
&RPSDQ\ $GGUHVV
'HSDUWPHQW 1DPH
7HOQR )D[QRDQGRU(PDLODGGUHVV
0DQXIDFWXUHUVRUGHUQRRUVHULDOQR
7KHGHYLFHKDVEHHQRSHUDWHGZLWKWKHIROORZLQJPHGLXP
7KLVPHGLXPLV UDGLRDFWLYH
ZDWHUKD]DUGRXV
WR[LF
FDXVWLF
IODPPDEOH
:HFKHFNHGWKDWDOOFDYLWLHVLQWKHGHYLFHDUHIUHHIURPVXFKVXEVWDQFHV
:HKDYHIOXVKHGRXWDQGQHXWUDOL]HGDOOFDYLWLHVLQWKHGHYLFH
:HKHUHE\FRQILUPWKDWWKHUHLVQRULVNWRSHUVRQVRUWKHHQYLURQPHQWWKURXJKDQ\UHVLGXDOPHGLDFRQWDLQHGLQWKH
GHYLFHZKHQLWLVUHWXUQHG
'DWH 6LJQDWXUH
6WDPS
&$87,21
'LVSRVDOPXVWEHFDUULHGRXWLQDFFRUGDQFHZLWKOHJLVODWLRQDSSOLFDEOHLQ\RXUFRXQWU\
6HSDUDWHFROOHFWLRQRI:(((:DVWH(OHFWULFDODQG(OHFWURQLF(TXLSPHQWLQWKH(XURSHDQ8QLRQ
6HSDUDWHFROOHFWLRQRI:(((:DVWH(OHFWULFDODQG(OHFWURQLF(TXLSPHQWLQWKH(XURSHDQ8QLRQ6HSDUDWHFROOHFWLRQRI:(((:DVWH(OHFWULFDODQG(OHFWURQLF(TXLSPHQWLQWKH(XURSHDQ8QLRQ
6HSDUDWHFROOHFWLRQRI:(((:DVWH(OHFWULFDODQG(OHFWURQLF(TXLSPHQWLQWKH(XURSHDQ8QLRQ
$FFRUGLQJWRWKHGLUHFWLYH(8WKHPRQLWRULQJDQGFRQWUROLQVWUXPHQWVPDUNHGZLWKWKH
:(((V\PERODQGUHDFKLQJWKHLUHQGRIOLIHPXVWQRWEHGLVSRVHGRIZLWKRWKHUZDVWH
PXVWQRWEHGLVSRVHGRIZLWKRWKHUZDVWHPXVWQRWEHGLVSRVHGRIZLWKRWKHUZDVWH
PXVWQRWEHGLVSRVHGRIZLWKRWKHUZDVWH
7KHXVHUPXVWGLVSRVHRIWKH:(((WRDGHVLJQDWHGFROOHFWLRQSRLQWIRUWKHUHF\FOLQJRI:(((RU
VHQGWKHPEDFNWRRXUORFDORUJDQLVDWLRQRUDXWKRULVHGUHSUHVHQWDWLYH
7(&+1,&$/'$7$

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
0HDVXULQJSULQFLSOH
$UDGDUVLJQDOLVHPLWWHGYLDDQDQWHQQDUHIOHFWHGIURPWKHSURGXFWVXUIDFHDQGUHFHLYHGDIWHUD
WLPHW7KHUDGDUSULQFLSOHXVHGLV)0&:)UHTXHQF\0RGXODWHG&RQWLQXRXV:DYH
7KH)0&:UDGDUWUDQVPLWVDKLJKIUHTXHQF\VLJQDOZKRVHIUHTXHQF\LQFUHDVHVOLQHDUO\GXULQJ
WKHPHDVXUHPHQWSKDVHFDOOHGWKHIUHTXHQF\VZHHS7KHVLJQDOLVHPLWWHGUHIOHFWHGRQWKH
PHDVXULQJVXUIDFHDQGUHFHLYHGZLWKDWLPHGHOD\W'HOD\WLPHW GFZKHUHGLVWKHGLVWDQFH
WRWKHSURGXFWVXUIDFHDQGFLVWKHVSHHGRIOLJKWLQWKHJDVDERYHWKHSURGXFW
)RUIXUWKHUVLJQDOSURFHVVLQJWKHGLIIHUHQFH'ILVFDOFXODWHGIURPWKHDFWXDOWUDQVPLWWHG
IUHTXHQF\DQGWKHUHFHLYHGIUHTXHQF\7KHGLIIHUHQFHLVGLUHFWO\SURSRUWLRQDOWRWKHGLVWDQFH$
ODUJHIUHTXHQF\GLIIHUHQFHFRUUHVSRQGVWRDODUJHGLVWDQFHDQGYLFHYHUVD7KHIUHTXHQF\
GLIIHUHQFH'ILVWUDQVIRUPHGYLDD)RXULHUWUDQVIRUPDWLRQ))7LQWRDIUHTXHQF\VSHFWUXPDQG
WKHQWKHGLVWDQFHLVFDOFXODWHGIURPWKHVSHFWUXP7KHOHYHOUHVXOWVIURPWKHGLIIHUHQFHEHWZHHQ
WKHWDQNKHLJKWDQGWKHPHDVXUHGGLVWDQFH
)LJXUH0HDVXULQJSULQFLSOHRI)0&:UDGDU
7UDQVPLWWHU
0L[HU
$QWHQQD
'LVWDQFHWRSURGXFWVXUIDFHZKHUHFKDQJHLQIUHTXHQF\LVSURSRUWLRQDOWRGLVWDQFH
'LIIHUHQWLDOWLPHGHOD\'W
'LIIHUHQWLDOIUHTXHQF\'I
)UHTXHQF\WUDQVPLWWHG
)UHTXHQF\UHFHLYHG
)UHTXHQF\
7LPH
7(&+1,&$/'$7$

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
7HFKQLFDOGDWD
,1)250$7,21
á
7KHIROORZLQJGDWDLVSURYLGHGIRUJHQHUDODSSOLFDWLRQV,I\RXUHTXLUHGDWDWKDWLVPRUH
UHOHYDQWWR\RXUVSHFLILFDSSOLFDWLRQSOHDVHFRQWDFWXVRU\RXUORFDOVDOHVRIILFH
á
$GGLWLRQDOLQIRUPDWLRQFHUWLILFDWHVVSHFLDOWRROVVRIWZDUHDQGFRPSOHWHSURGXFW
GRFXPHQWDWLRQFDQEHGRZQORDGHGIUHHRIFKDUJHIURPWKHZHEVLWH'RZQORDGFHQWHU
0HDVXULQJV\VWHP
0HDVXULQJSULQFLSOH ZLUHORRSSRZHUHGOHYHOWUDQVPLWWHU)0&:UDGDU
)UHTXHQF\UDQJH :EDQG *+]
0D[WUDQVPLWWHGSRZHU  P:(,537/35RXWVLGHRIWKHWDQN/35LQKDOIVSKHUH
$SSOLFDWLRQUDQJH /HYHOPHDVXUHPHQWRIOLTXLGVSDVWHVDQGVOXUULHV
3ULPDU\PHDVXUHGYDOXH 'LVWDQFHDQGUHIOHFWLRQ
6HFRQGDU\PHDVXUHGYDOXH /HYHOYROXPHPDVVDQGIORZUDWH
'HVLJQ
&RQVWUXFWLRQ 7KHPHDVXUHPHQWV\VWHPFRQVLVWVRIDPHDVXULQJVHQVRUDQWHQQDDQGDVLJQDO
FRQYHUWHU
2SWLRQV ,QWHJUDWHG/&'GLVSOD\& «)LIWKHDPELHQWWHPSHUDWXUHLVQRW
LQWKHVHOLPLWVWKHGLVSOD\VZLWFKHVRIIDXWRPDWLFDOO\
6LJQDOFDEOHIRUUHPRWHKRXVLQJYHUVLRQUHIHUWRFDEOHSURSHUWLHVLQ(OHFWULFDO
FRQQHFWLRQ5HPRWHGHYLFHYHUVLRQ
:HDWKHUSURWHFWLRQ
0D[PHDVXULQJUDQJH  P  IW
$OVRGHSHQGVRQWKHGLHOHFWULFFRQVWDQWRIWKHSURGXFWDQGWKHLQVWDOODWLRQW\SH
5HIHUDOVRWR$QWHQQDVHOHFWLRQ
0LQWDQNKHLJKW  P 
7RSGHDG]RQH  PP 
%HDPDQJOH &RQYH[OHQV PP
&RQYH[OHQV PP
'LVSOD\DQGXVHULQWHUIDFH
'LVSOD\DQGXVHULQWHUIDFH'LVSOD\DQGXVHULQWHUIDFH
'LVSOD\DQGXVHULQWHUIDFH
'LVSOD\ /&'GLVSOD\
SL[HOVLQVWHSJUH\VFDOHZLWKEXWWRQNH\SDG
,QWHUIDFHODQJXDJHV ODQJXDJHSDFNRSWLRQVWKHODQJXDJHLVJLYHQLQWKHFXVWRPHURUGHU
(QJOLVK)UHQFK*HUPDQDQG,WDOLDQ
(QJOLVK)UHQFK6SDQLVKDQG3RUWXJXHVH
(QJOLVK&KLQHVHVLPSOLILHG-DSDQHVHDQG5XVVLDQ
0HDVXULQJDFFXUDF\
5HVROXWLRQ  PP 
5HSHDWDELOLW\  PP 
$FFXUDF\ 6WDQGDUG PP ZKHQGLVWDQFH  P  IW
RIPHDVXUHGGLVWDQFHZKHQGLVWDQFH!  P  IW
'LJLWDOWHPSHUDWXUHGULIW 0D[ PP IRUWKHIXOOWHPSHUDWXUHUDQJH
5HIHUHQFHFRQGLWLRQVDFFWR(1 
5HIHUHQFHFRQGLWLRQVDFFWR(1 5HIHUHQFHFRQGLWLRQVDFFWR(1 
5HIHUHQFHFRQGLWLRQVDFFWR(1 
7HPSHUDWXUH & )
3UHVVXUH  PEDUD PEDU  SVLD SVL
7(&+1,&$/'$7$

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
5HODWLYHDLUKXPLGLW\ 
7DUJHW 0HWDOSODWHLQDQDQHFKRLFFKDPEHU
2SHUDWLQJFRQGLWLRQV
7HPSHUDWXUH
7HPSHUDWXUH7HPSHUDWXUH
7HPSHUDWXUH
$PELHQWWHPSHUDWXUH «& «)
([VHHVXSSOHPHQWDU\RSHUDWLQJLQVWUXFWLRQVRUDSSURYDOFHUWLILFDWHV
6WRUDJHWHPSHUDWXUH «& «)
3URFHVVFRQQHFWLRQWHPSHUDWXUH
KLJKHUWHPSHUDWXUHRQUHTXHVW «& «)WKHSURFHVVFRQQHFWLRQWHPSHUDWXUHPXVWDJUHHZLWK
WKHWHPSHUDWXUHOLPLWVRIWKHJDVNHWPDWHULDO5HIHUWR0DWHULDOVLQWKLVWDEOH
([VHHVXSSOHPHQWDU\RSHUDWLQJLQVWUXFWLRQVRUDSSURYDOFHUWLILFDWHV
3UHVVXUH
3UHVVXUH3UHVVXUH
3UHVVXUH
3URFHVVSUHVVXUH « EDUJ « SVLJ
VXEMHFWWRWKHSURFHVVFRQQHFWLRQXVHGDQGWKHIODQJHWHPSHUDWXUH
2WKHUFRQGLWLRQV
2WKHUFRQGLWLRQV2WKHUFRQGLWLRQV
2WKHUFRQGLWLRQV
'LHOHFWULFFRQVWDQWH
U
 'LUHFWPRGHt
7%)PRGHt
5HIHUDOVRWR7HFKQLFDOGDWD$QWHQQDVHOHFWLRQ
,QJUHVVSURWHFWLRQ ,(& ,3
1(0$ 1(0$W\SH;KRXVLQJDQGW\SH3DQWHQQD
0D[LPXPUDWHRIFKDQJH  PPLQ  IWPLQ
,QVWDOODWLRQFRQGLWLRQV
3URFHVVFRQQHFWLRQVL]H 7KHQRPLQDOGLDPHWHU'1VKRXOGEHHTXDOWRRUODUJHUWKDQWKHDQWHQQDGLDPHWHU
3URFHVVFRQQHFWLRQSRVLWLRQ 0DNHVXUHWKDWWKHUHDUHQRWDQ\REVWUXFWLRQVGLUHFWO\EHORZWKHSURFHVV
FRQQHFWLRQIRUWKHGHYLFH)RUPRUHGDWDUHIHUWR
,QVWDOODWLRQ
RQSDJH
'LPHQVLRQVDQGZHLJKWV )RUGLPHQVLRQVDQGZHLJKWVGDWDUHIHUWR
'LPHQVLRQVDQGZHLJKWV
RQSDJH
0DWHULDOV
+RXVLQJ 6WDQGDUG3RO\HVWHUFRDWHGDOXPLQLXP
2SWLRQ6WDLQOHVVVWHHO /
:HWWHGSDUWVLQFOXGLQJDQWHQQD 3((.±WKLVPDWHULDODJUHHVZLWK)'$UHJXODWLRQV
3URFHVVFRQQHFWLRQ 3((.
*DVNHWVDQGRULQJVIRUWKH
VHDOHGDQWHQQDH[WHQVLRQRSWLRQ %LR&RQWURO).0)30«& «)(3'0&«& 
«)
6067UL&ODPS9$5,9(17',1 ZLWKRXW

)HHGWKURXJK 3(,& )±PD[UDQJH7KHIHHGWKURXJKWHPSHUDWXUHOLPLWV
PXVWDJUHHZLWKWKHWHPSHUDWXUHOLPLWVRIWKHJDVNHWPDWHULDODQGDQWHQQDW\SH,I
WKHGLVWDQFHSLHFHRSWLRQLVQRWDWWDFKHGWKHPD[LPXPWHPSHUDWXUHLV& 
)
&DEOHJODQG 6WDQGDUGQRQH
2SWLRQV3ODVWLF1RQ([EODFN([ LDSSURYHGEOXHQLFNHOSODWHGEUDVVVWDLQOHVV
VWHHO
:HDWKHUSURWHFWLRQ2SWLRQ 6WDLQOHVVVWHHO /
3URFHVVFRQQHFWLRQV
7KUHDG * ò,62 ò137$60( %
/HQVDQWHQQD PP
/HQVDQWHQQD PP/HQVDQWHQQD PP
/HQVDQWHQQD PP
+\JLHQLFZLWK* $DGDSWRU %LR&RQWURO'17UL&ODPSòRU',1 '1RU'1606
9$5,9(177\SH1'1RWKHUVRQUHTXHVW
7(&+1,&$/'$7$

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
)ODQJH(1  '1LQ3131313131RU317\SH%RWKHUVRQUHTXHVW
)ODQJH$60( % LQ OE OERU OE5)RWKHUVRQUHTXHVW
/HQVDQWHQQD PP
/HQVDQWHQQD PP/HQVDQWHQQD PP
/HQVDQWHQQD PP
+\JLHQLF %LR&RQWURO'17UL&ODPSRWKHUVRQUHTXHVW
)ODQJH(1  '1LQ3131313131RU317\SH%RWKHUVRQUHTXHVW
)ODQJH$60( % òLQ OE OERU OE5)RWKHUVRQUHTXHVW
(OHFWULFDOFRQQHFWLRQV
3RZHUVXSSO\ 7HUPLQDOVRXWSXW
7HUPLQDOVRXWSXW7HUPLQDOVRXWSXW
7HUPLQDOVRXWSXW±1RQ([ ([ L
1RQ([ ([ L1RQ([ ([ L
1RQ([ ([ L
« 9'&PLQPD[YDOXHIRUDQRXWSXWRI P$DWWKHWHUPLQDO
7HUPLQDOVRXWSXW
7HUPLQDOVRXWSXW7HUPLQDOVRXWSXW
7HUPLQDOVRXWSXW±([ G
([ G([ G
([ G
« 9'&PLQPD[YDOXHIRUDQRXWSXWRI P$DWWKHWHUPLQDO
0D[LPXPFXUUHQW  P$
&XUUHQWRXWSXWORDG 1RQ([ ([ L
1RQ([ ([ L1RQ([ ([ L
1RQ([ ([ L5
/
>:@d8
H[W
 9 P$)RUPRUHGDWDUHIHUWR
0LQLPXPSRZHU
VXSSO\YROWDJH
RQSDJH
([ G
([ G([ G
([ G5
/
>:@d8
H[W
 9 P$)RUPRUHGDWDUHIHUWR
0LQLPXPSRZHUVXSSO\
YROWDJH
RQSDJH
&DEOHHQWU\ 6WDQGDUG02SWLRQò137
&DEOHJODQG 6WDQGDUGQRQH
2SWLRQV0FDEOHGLDPHWHU« PP «RWKHUVDUHDYDLODEOHRQ
UHTXHVW
&DEOHHQWU\FDSDFLW\WHUPLQDO « PPð
,QSXWDQGRXWSXW
&XUUHQWRXWSXW +$57
&XUUHQWRXWSXW +$57&XUUHQWRXWSXW +$57
&XUUHQWRXWSXW +$57
2XWSXWVLJQDO « P$+$57RU« P$DFFWR1$0851( 

5HVROXWLRQ $
7HPSHUDWXUHGULIW 7\SLFDOO\ SSP.
(UURUVLJQDO +LJK P$/RZ P$DFFWR1$0851( 

352),%863$
352),%863$352),%863$
352),%863$
7\SH 352),%860%3LQWHUIDFHWKDWDJUHHVZLWK,(& ZLWK NELWVYROWDJH
PRGH0%3 0DQFKHVWHU&RGHG%XV3RZHUHG
)XQFWLRQEORFNV 3K\VLFDO%ORFN/HYHO7UDQVGXFHU%ORFN$QDORJ,QSXW)XQFWLRQ%ORFNV
'HYLFHSRZHUVXSSO\  9'&±EXVSRZHUHGQRDGGLWLRQDOSRZHUVXSSO\UHTXLUHG
3RODULW\VHQVLWLYLW\ 1R
%DVLFFXUUHQW  P$
)281'$7,21
)281'$7,21)281'$7,21
)281'$7,21ILHOGEXV
ILHOGEXVILHOGEXV
ILHOGEXV
3K\VLFDOOD\HU )281'$7,21ILHOGEXVSURWRFROWKDWDJUHHVZLWK,(& DQG),6&2PRGHO
&RPPXQLFDWLRQVWDQGDUG +
,7.YHUVLRQ 
)XQFWLRQEORFNV 5HVRXUFH%ORFN5%7UDQVGXFHU%ORFNV7%$QDORJ,QSXW%ORFNV$,
[3URSRUWLRQDO,QWHJUDO'HULYDWLYH%ORFN3,'
$QDORJ,QSXW%ORFN PV
3URSRUWLRQDO,QWHJUDO'HULYDWLYH%ORFN PV
'HYLFHSRZHUVXSSO\ 1RWLQWULQVLFDOO\VDIH 9'&
,QWULQVLFDOO\VDIH 9'&
%DVLFFXUUHQW  P$
7(&+1,&$/'$7$

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
0D[LPXPHUURUFXUUHQW  P$ EDVLFFXUUHQWHUURUFXUUHQW  P$ P$
3RODULW\VHQVLWLYLW\ 1R
0LQLPXPF\FOHWLPH  PV
2XWSXWGDWD /HYHOGLVWDQFHXOODJHFRQYHUVLRQOHYHOFRQYHUVLRQ
,QSXWGDWD 1RQH
(UURUFXUUHQW)'( 7\SLFDOO\ P$)'( )DXOW'LVFRQQHFWLRQ(OHFWURQLF
/LQN0DVWHUIXQFWLRQ 6XSSRUWHG
$SSURYDOVDQGFHUWLILFDWLRQ
&( 7KLVGHYLFHIXOILOVWKHVWDWXWRU\UHTXLUHPHQWVRIWKH(&GLUHFWLYHV7KH
PDQXIDFWXUHUFHUWLILHVVXFFHVVIXOWHVWLQJRIWKHSURGXFWE\DSSO\LQJWKH&(PDUN
9LEUDWLRQUHVLVWDQFH ,(&DQG(1 +] PP  +]J
([SORVLRQSURWHFWLRQ
([SORVLRQSURWHFWLRQ([SORVLRQSURWHFWLRQ
([SORVLRQSURWHFWLRQ
$7(;([ LDRU([ G
'(.5$[[$7(;[[[[ ;
SHQGLQJ
&RPSDFWYHUVLRQ
&RPSDFWYHUVLRQ&RPSDFWYHUVLRQ
&RPSDFWYHUVLRQ
,, * *([ LD,,&77*D*ERU([ LD,,&77*E
,, ' '([ LD,,,&7&'D'ERU([ LD,,,&7&'E,3;
,, * *([ G LD,,&77*D*ERU([ G LD,,&77*E
,, ' '([ LD WE,,,&7&'D'ERU([ LD WE,,,&7&'E,3;
5HPRWHYHUVLRQWUDQVPLWWHU
5HPRWHYHUVLRQWUDQVPLWWHU5HPRWHYHUVLRQWUDQVPLWWHU
5HPRWHYHUVLRQWUDQVPLWWHU
,, *([ LD>LD *D@,,&77*E
,, '([ LD>LD 'D@,,,&7&'E
,, *([ G LD>LD *D@,,&77*E
,, '([ LD WE>LD 'D@,,,&7&'E
5HPRWHYHUVLRQVHQVRU
5HPRWHYHUVLRQVHQVRU5HPRWHYHUVLRQVHQVRU
5HPRWHYHUVLRQVHQVRU
,, *([ LD,,&77*D*E
,, '([ LD,,,&7&'D'E
,, *([ LD,,&77*E
,, '([ LD,,,&7&'E
$7(;([ LF
'(.5$[[$7(;[[[[ ;
SHQGLQJ
&RPSDFWYHUVLRQ
&RPSDFWYHUVLRQ&RPSDFWYHUVLRQ
&RPSDFWYHUVLRQ
,, *([ LF,,&77*F
,, '([ LF,,,&7&'F
5HPRWHYHUVLRQWUDQVPLWWHU
5HPRWHYHUVLRQWUDQVPLWWHU5HPRWHYHUVLRQWUDQVPLWWHU
5HPRWHYHUVLRQWUDQVPLWWHU
,, *([ LF>LF@,,&77*F
,, '([ LF>LF@,,,&7&'F
5HPRWHYHUVLRQVHQVRU
5HPRWHYHUVLRQVHQVRU5HPRWHYHUVLRQVHQVRU
5HPRWHYHUVLRQVHQVRU
,, *([ LF,,&77*F
,, '([ LF,,,&7&'F
7(&+1,&$/'$7$

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
,(&([
,(&(['(. [[[[[[ ;
SHQGLQJ
&RPSDFWYHUVLRQ
&RPSDFWYHUVLRQ&RPSDFWYHUVLRQ
&RPSDFWYHUVLRQ
([ LD,,&7«7*D*ERU([ LD,,&7«7*ERU([ LF,,&7«7*F
([ LD,,,&7&'D'ERU([ LD,,,&7&'ERU([ LF,,,&7&'F
([ G LD,,&77RU([ G LD,,,&77*E
([ LD WE,,,&7&'D'ERU([ LD WE,,,&7&'E
5HPRWHYHUVLRQWUDQVPLWWHU
5HPRWHYHUVLRQWUDQVPLWWHU5HPRWHYHUVLRQWUDQVPLWWHU
5HPRWHYHUVLRQWUDQVPLWWHU
([ LD>LD *D@,,&7«7*ERU([ LF,,&7«7*F
([ LD>LD 'D@,,,&7&'ERU([ LF>LF@,,,&7&'F
([ G LD>LD *D@,,&77*E
([ LDWE>LD 'D@,,,&7&'E
5HPRWHYHUVLRQVHQVRU
5HPRWHYHUVLRQVHQVRU5HPRWHYHUVLRQVHQVRU
5HPRWHYHUVLRQVHQVRU
([ LD,,&7«7*D*ERU([ LD,,&7«7*ERU([ LF,,&7«7*F
([ LD,,,&7&'D'ERU([ LD,,,&7&'ERU([ LF,,,&7&'F
F436XV±'XDO6HDODSSURYHG
SHQGLQJ 1(& 'LYLVLRQUDWLQJV
1(& 'LYLVLRQUDWLQJV1(& 'LYLVLRQUDWLQJV
1(& 'LYLVLRQUDWLQJV
;3$,6 &O , 'LY  *U $%&' 77
',3 &O ,,,,, 'LY  *U ()* 77
,6 &O ,,,,,, 'LY  *U $%&'()* 77
1, &O , 'LY  *U $%&' 77
1(& =RQHUDWLQJV
1(& =RQHUDWLQJV1(& =RQHUDWLQJV
1(& =RQHUDWLQJV
&O , =RQH $([ G >LD@ ,,& 77
&O , =RQH $([ LD ,,& 77
&O , =RQH $([ Q$ ,,& 77
=RQH $([ LD  ,,,& 7&
=RQH $([ WE >LD@  ,,,& 7&
+D]DUGRXV&ODVVLILHG/RFDWLRQVLQGRRURXWGRRU7\SH;DQG3,3'XDO6HDO
&(&6HFWLRQ=RQHUDWLQJV
&(&6HFWLRQ=RQHUDWLQJV&(&6HFWLRQ=RQHUDWLQJV
&(&6HFWLRQ=RQHUDWLQJV
&O ,=RQH([ G >LD@,,&77
&O ,=RQH([ LD,,&77
&O ,=RQH([ Q$,,&77
&(&6HFWLRQDQG$QQH[-'LYLVLRQUDWLQJV
&(&6HFWLRQDQG$QQH[-'LYLVLRQUDWLQJV&(&6HFWLRQDQG$QQH[-'LYLVLRQUDWLQJV
&(&6HFWLRQDQG$QQH[-'LYLVLRQUDWLQJV
;3$,6 &O, 'LY  *U %&' 77
',3 &O ,,,,, 'LY  *U ()* 77
,6 &O , 'LY  *U %&' 77
1, &O , 'LY  *U $%&' 77
1(36,
*<-[[[[[[[[
SHQGLQJ
([ LD,,&7a7*ERU([ LD,,&7a7*D*E',3$$7
$
7&,3;
([ G LD,,&7a7*ERU([ G LD,,&7a7*D*E',3$$7
$
7&,3;
'19 ,10(752
'19[[ ;
SHQGLQJ
([ LD,,&7«7*D([ LD,,,&7&7&'D,3;
([ G >LD *D@,,&77*D*E([WE>LD'D@,,,&7&7&'E,3;
7(&+1,&$/'$7$

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
2WKHUVWDQGDUGVDQGDSSURYDOV
2WKHUVWDQGDUGVDQGDSSURYDOV2WKHUVWDQGDUGVDQGDSSURYDOV
2WKHUVWDQGDUGVDQGDSSURYDOV
6,/
RQO\IRU P$+$57RXWSXW &RPSDFWYHUVLRQDQG P$+$57RXWSXWRQO\6,/±DFFRUGLQJWR(1 
DQGIRUKLJKORZGHPDQGPRGHRSHUDWLRQ
(0& (OHFWURPDJQHWLF&RPSDWLELOLW\'LUHFWLYH(&
5DGLRDSSURYDOV 577(
577(577(
577(
5DGLR(TXLSPHQWDQG7HOHFRPPXQLFDWLRQV7HUPLQDO(TXLSPHQW'LUHFWLYH
(&
)&&5XOHV
)&&5XOHV)&&5XOHV
)&&5XOHV
3DUW
,QGXVWU\&DQDGD
,QGXVWU\&DQDGD,QGXVWU\&DQDGD
,QGXVWU\&DQDGD
566
/9' $JUHHVZLWKWKHVDIHW\SDUWRIWKH/RZ9ROWDJH'LUHFWLYH(&
1$085 1$0851( (OHFWURPDJQHWLF&RPSDWLELOLW\(0&RI,QGXVWULDO3URFHVVDQG
/DERUDWRU\&RQWURO(TXLSPHQW
1$0851( 6WDQGDUGL]DWLRQRIWKH6LJQDO/HYHOIRUWKH)DLOXUH,QIRUPDWLRQRI
'LJLWDO7UDQVPLWWHUV
1$0851( 6RIWZDUHDQG+DUGZDUHRI)LHOG'HYLFHVDQG6LJQDO3URFHVVLQJ
'HYLFHVZLWK'LJLWDO(OHFWURQLFV
1$0851( 6HOI0RQLWRULQJDQG'LDJQRVLVRI)LHOG'HYLFHV
&51 7KLVFHUWLILFDWLRQLVDSSOLFDEOHIRUDOO&DQDGLDQSURYLQFHVDQGWHUULWRULHV)RUPRUH
GDWDUHIHUWRWKHZHEVLWH
&RQVWUXFWLRQFRGH 2SWLRQ1$&( 05  05  ,62 
7UL&ODPSLVDUHJLVWHUHGWUDGHPDUNRI/DGLVK&R,QF%LR&RQWUROLVDUHJLVWHUHGWUDGHPDUNRI1HXPR(KUHQEHUJ*URXS
9$5,9(17LVDUHJLVWHUHGWUDGHPDUNRI*($7XFKHQKDJHQ*PE+
+$57LVDUHJLVWHUHGWUDGHPDUNRIWKH+$57&RPPXQLFDWLRQ)RXQGDWLRQ
2QO\WKH P$HUURUVLJQDOLVDSSOLFDEOHWR6,/DSSURYHGGHYLFHV
7(&+1,&$/'$7$

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
0LQLPXPSRZHUVXSSO\YROWDJH
8VHWKHVHJUDSKVWRILQGWKHPLQLPXPSRZHUVXSSO\YROWDJHIRUDJLYHQFXUUHQWRXWSXWORDG
1RQ([DQG+D]DUGRXV/RFDWLRQDSSURYHG([ L ,6GHYLFHV
)LJXUH0LQLPXPSRZHUVXSSO\YROWDJHIRUDQRXWSXWRI P$DWWKHWHUPLQDO1RQ([DQG+D]DUGRXV/RFDWLRQ
DSSURYDO([ L ,6
;3RZHUVXSSO\8>9'&@
<&XUUHQWRXWSXWORDG5
/
>:@
+D]DUGRXV/RFDWLRQ([ G ;31,DSSURYHGGHYLFHV
)LJXUH0LQLPXPSRZHUVXSSO\YROWDJHIRUDQRXWSXWRI P$DWWKHWHUPLQDO+D]DUGRXV/RFDWLRQDSSURYDO([ G 
;31,
;3RZHUVXSSO\8>9'&@
<&XUUHQWRXWSXWORDG5
/
>:@
7(&+1,&$/'$7$

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
$QWHQQDVHOHFWLRQ
7KHJUDSKVEHORZVKRZZKLFKDQWHQQDWRVHOHFWIRUWKHDSSOLFDWLRQEDVHGRQ
á'WKHPHDVXULQJUDQJH
áH
U
LVWKHGLHOHFWULFFRQVWDQWRIWKHSURGXFWEHLQJPHDVXUHG
)LJXUH6HOHFWLRQRIDQWHQQDIRUOLTXLGDSSOLFDWLRQVJUDSKRIGLVWDQFHLQPDJDLQVWH
U
)LJXUH6HOHFWLRQRIDQWHQQDIRUOLTXLGDSSOLFDWLRQVJUDSKRIGLVWDQFHLQIWDJDLQVWH
U
'LVWDQFH'>P@
'LVWDQFH'>IW@
'LHOHFWULFFRQVWDQWH
U
UDQJHIRUVWRUDJHVWLOOZHOODSSOLFDWLRQV
'LHOHFWULFFRQVWDQWH
U
UDQJHIRUSURFHVVDJLWDWRUDSSOLFDWLRQV
'1'1'1RU'1+RUQDQWHQQDZLWKDVWLOOZHOORU'1RU'1+RUQDQWHQQDZLWKRXWDVWLOOZHOO
'1'1'1RU'1+RUQDQWHQQDZLWKRUZLWKRXWDVWLOOZHOORU'1RU'1'URSDQWHQQDZLWKRXWD
VWLOOZHOO
'1'1'1'1'1RU'1+RUQDQWHQQDZLWKRUZLWKRXWDVWLOOZHOO'1RU'1'URSDQWHQQD
ZLWKRXWDVWLOOZHOORU+\JLHQLFDQWHQQD
7(&+1,&$/'$7$

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
*XLGHOLQHVIRUPD[LPXPRSHUDWLQJSUHVVXUH
:$51,1*
0DNHVXUHWKDWWKHGHYLFHVDUHXVHGZLWKLQWKHLURSHUDWLQJOLPLWV
)LJXUH3UHVVXUHWHPSHUDWXUHGHUDWLQJ(1 IODQJHDQGWKUHDGHGFRQQHFWLRQLQ&DQGEDUJ
)LJXUH3UHVVXUHWHPSHUDWXUHGHUDWLQJ(1 IODQJHDQGWKUHDGHGFRQQHFWLRQVLQ)DQGSVLJ
7(&+1,&$/'$7$

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
,1)250$7,21
&51FHUWLILFDWLRQ
&51FHUWLILFDWLRQ&51FHUWLILFDWLRQ
&51FHUWLILFDWLRQ
7KHUHLVD&51FHUWLILFDWLRQRSWLRQIRUGHYLFHVZLWKSURFHVVFRQQHFWLRQVWKDWDJUHHZLWK$60(
VWDQGDUGV7KLVFHUWLILFDWLRQLVQHFHVVDU\IRUDOOGHYLFHVWKDWDUHLQVWDOOHGRQDSUHVVXUHYHVVHO
DQGXVHGLQ&DQDGD
7(&+1,&$/'$7$

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
'LPHQVLRQVDQGZHLJKWV
'LPHQVLRQVDQGZHLJKWVLQPPDQGNJ
'LPHQVLRQVDQGZHLJKWVLQLQFKHVDQGOE
'1+\JLHQLFDQWHQQDYHUVLRQV
)LJXUH'1+\JLHQLFDQWHQQDYHUVLRQV
'1+\JLHQLFDQWHQQDZLWK',1 FRQQHFWLRQ
'1+\JLHQLFDQWHQQDZLWK7UL&ODPSFRQQHFWLRQ
'1+\JLHQLFDQWHQQDZLWK1HXPR%LR&RQWUROFRQQHFWLRQ
'1+\JLHQLFDQWHQQDZLWK606FRQQHFWLRQ
'1+\JLHQLFDQWHQQDZLWK9$5,9(17FRQQHFWLRQ
,1)250$7,21
á
&DEOHJODQGVDUHGHOLYHUHGRQGHPDQGZLWKQRQ([([ LDQG([ GDSSURYHGGHYLFHV
á
7KHGLDPHWHURIWKHRXWHUVKHDWKRIWKHFDEOHPXVWEH
«
 PPRU
«

á
&DEOHJODQGVIRUF)0XVDSSURYHGGHYLFHVPXVWEHVXSSOLHGE\WKHFXVWRPHU
á
$ZHDWKHUSURWHFWLRQFRYHULVDYDLODEOHDVDQDFFHVVRU\ZLWKDOOGHYLFHV
'LPHQVLRQV>PP@ :HLJKWV>NJ@
D E G K
',1 FRQQHFWLRQ """

""" """  """
7UL&ODPS
FRQQHFWLRQ """

""" """  """
1HXPR%LR&RQWURO
FRQQHFWLRQ """

""" """  """
606FRQQHFWLRQ """

""" """  """
9$5,9(17FRQQHFWLRQ """

""" """  """
,IILWWHGZLWKVWDQGDUGFDEOHJODQGV
'LPHQVLRQV>LQFKHV@ :HLJKWV>OE@
D E G K
',1 FRQQHFWLRQ """

"""

"""

 """

7UL&ODPSFRQQHFWLRQ """

"""

"""

 """

1HXPR%LR&RQWUROFRQQHFWLRQ """

"""

"""

 """

606FRQQHFWLRQ """

"""

"""

 """

9$5,9(17FRQQHFWLRQ """

"""

"""

 """

,IILWWHGZLWKVWDQGDUGFDEOHJODQGV
7(&+1,&$/'$7$

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
$QWHQQDRSWLRQZHLJKWV
7\SHRIKRXVLQJ :HLJKWV
$OXPLQLXPKRXVLQJ 6WDLQOHVVVWHHOKRXVLQJ
>NJ@ >OE@ >NJ@ >OE@
&RPSDFW "" "" "" ""
5HPRWHFRQYHUWHU

"" "" "" ""
$QWHQQDKRXVLQJ

"" "" "" ""
7KHUHPRWHYHUVLRQRIWKHGHYLFHKDVDUHPRWHFRQYHUWHUDQGDSUREHKRXVLQJ)RUPRUHGDWDUHIHUWR+RXVLQJGLPHQVLRQVDWWKH
VWDUWRIWKLVVHFWLRQ
7KHUHPRWHYHUVLRQRIWKHGHYLFHKDVDUHPRWHFRQYHUWHUDQGDDQWHQQDKRXVLQJ)RUPRUHGDWDUHIHUWR+RXVLQJGLPHQVLRQVDW
WKHVWDUWRIWKLVVHFWLRQ
7\SHRIKRXVLQJ :HLJKWV
$OXPLQLXPKRXVLQJ 6WDLQOHVVVWHHOKRXVLQJ
>NJ@ >OE@ >NJ@ >OE@
&RPSDFW "" "" "" ""
$QWHQQDRSWLRQV 0LQ0D[ZHLJKWV
>NJ@ >OE@
6WDQGDUGRSWLRQVZLWKRXWFRQYHUWHU
6WDQGDUGRSWLRQVZLWKRXWFRQYHUWHU6WDQGDUGRSWLRQVZLWKRXWFRQYHUWHU
6WDQGDUGRSWLRQVZLWKRXWFRQYHUWHU
'1 0HWDOOLF+RUQDQWHQQDZLWKIODQJHFRQQHFWLRQVWDQGDUGOHQJWK """" """"
'1 0HWDOOLF+RUQDQWHQQDZLWKIODQJHFRQQHFWLRQVWDQGDUGOHQJWK """" """"
'1 0HWDOOLF+RUQDQWHQQDZLWKIODQJHFRQQHFWLRQVWDQGDUGOHQJWK """" """"
'1 0HWDOOLF+RUQDQWHQQDZLWKIODQJHFRQQHFWLRQVWDQGDUGOHQJWK  
'1 0HWDOOLF+RUQDQWHQQDZLWKIODQJHFRQQHFWLRQVWDQGDUGOHQJWK  
'1 0HWDOOLF+RUQDQWHQQDZLWKIODQJHFRQQHFWLRQVWDQGDUGOHQJWK  
'1 0HWDOOLF+RUQDQWHQQDZLWKIODQJHFRQQHFWLRQVWDQGDUGOHQJWK  
'1'URSDQWHQQDZLWKWKUHDGFRQQHFWLRQVWDQGDUGOHQJWK """" """"
'1'URSDQWHQQDZLWKWKUHDGFRQQHFWLRQVWDQGDUGOHQJWK """" """"
$QWHQQDH[WHQVLRQRSWLRQV
$QWHQQDH[WHQVLRQRSWLRQV$QWHQQDH[WHQVLRQRSWLRQV
$QWHQQDH[WHQVLRQRSWLRQV
6WUDLJKWH[WHQVLRQOHQJWK PP

"" ""
6WUDLJKWH[WHQVLRQOHQJWK PP

"" ""
6WUDLJKWH[WHQVLRQOHQJWK PP

"" ""
6WUDLJKWH[WHQVLRQOHQJWK PP

"" ""
6WUDLJKWH[WHQVLRQOHQJWK PP

"" ""
6WUDLJKWH[WHQVLRQOHQJWK PP

"" ""
6WUDLJKWH[WHQVLRQOHQJWK PP

"" ""
6WUDLJKWH[WHQVLRQOHQJWK PP

"" ""
6WUDLJKWH[WHQVLRQOHQJWK PP

"" ""
6WUDLJKWH[WHQVLRQOHQJWK PP

"" ""
7(&+1,&$/'$7$

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
/ULJKWDQJOHH[WHQVLRQ

"" ""
2WKHURSWLRQV
2WKHURSWLRQV2WKHURSWLRQV
2WKHURSWLRQV
+7H[WHQVLRQ

"" ""
)ODQJHSODWHRSWLRQ "" ""
7KLVRSWLRQLVIRU0HWDOOLF+RUQDQG'URSDQWHQQDRSWLRQV
7KLVRSWLRQLVIRU0HWDOOLF+RUQDQWHQQDRSWLRQV
7KLVFRPSRQHQWLVRQO\IRUWKH0HWDOOLF+RUQDQG:DYH*XLGHDQWHQQDV,WLVDWWDFKHGEHWZHHQWKHVLJQDOFRQYHUWHUDQGWKHIODQJHLIWKH
SURFHVVFRQQHFWLRQWHPSHUDWXUHLV& )
$QWHQQDRSWLRQV 0LQ0D[ZHLJKWV
>NJ@ >OE@
6WDQGDUGRSWLRQVZLWKRXWFRQYHUWHU
6WDQGDUGRSWLRQVZLWKRXWFRQYHUWHU6WDQGDUGRSWLRQVZLWKRXWFRQYHUWHU
6WDQGDUGRSWLRQVZLWKRXWFRQYHUWHU
'1 +\JLHQLFDQWHQQDZLWKFODPSFRQQHFWLRQ """" """"
'1 +\JLHQLFDQWHQQDZLWKWKUHDGFRQQHFWLRQ """" """"
$QWHQQDRSWLRQV 0LQ0D[ZHLJKWV
>NJ@ >OE@
'(6&5,37,212)+$57,17(5)$&(

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
*HQHUDOGHVFULSWLRQ
7KH+$573URWRFROLVDQRSHQGLJLWDOFRPPXQLFDWLRQSURWRFROIRULQGXVWU\,WLVIUHHWRXVHE\
DQ\RQH,WLVLQFOXGHGLQWKHVRIWZDUHHPEHGGHGLQVLJQDOFRQYHUWHUVRI+$57FRPSDWLEOH
GHYLFHV
7KHUHDUHFODVVHVRIGHYLFHVZKLFKVXSSRUWWKH+$573URWRFRORSHUDWLQJGHYLFHVDQGILHOG
GHYLFHV7KHUHDUHFODVVHVRIRSHUDWLQJGHYLFHV0DVWHU3&VXSSRUWHGZRUNVWDWLRQV3ULPDU\
0DVWHUDQGPDQXDOFRQWUROXQLWV6HFRQGDU\0DVWHU7KHVHFDQEHXVHGLQFRQWUROFHQWUHVDQG
RWKHUORFDWLRQV+$57ILHOGGHYLFHVLQFOXGHVHQVRUVFRQYHUWHUVDQGDFWXDWRUV)LHOGGHYLFHV
LQFOXGHZLUHDQGZLUHGHYLFHVDQGDOVRLQWULQVLFDOO\VDIHYHUVLRQVIRUXVHLQKD]DUGRXV
DUHDV
7KHUHDUHSULPDU\RSHUDWLRQPRGHVIRU+$57FRPSDWLEOHGHYLFHVSRLQWWRSRLQWPRGHDQG
PXOWLGURSPRGH
,IWKHGHYLFHLVXVHGLQSRLQWWRSRLQWPRGHWKH+$573URWRFROXVHVWKH%HOO)UHTXHQF\
6KLIW.H\LQJ)6.VWDQGDUGWRSXWDGLJLWDOVLJQDORQWRSRIWKH P$VLJQDO7KHFRQQHFWHG
GHYLFHVHQGVDQGUHFHLYHVGLJLWDOVLJQDOVWKDWDJUHHZLWKWKH+$573URWRFRODQGVHQGVDQDORJ
VLJQDOVDWWKHVDPHWLPH2QO\GHYLFHFDQEHFRQQHFWHGWRWKHVLJQDOFDEOH
,IWKHGHYLFHLVXVHGLQPXOWLGURSPRGHWKHQHWZRUNRQO\XVHVDGLJLWDOVLJQDOWKDWDJUHHVZLWK
WKH+$573URWRFRO7KHORRSFXUUHQWLVVHWWR P$<RXFDQFRQQHFWDPD[LPXPRIGHYLFHV
WRWKHVLJQDOFDEOH
$Q)6.RU+$57PRGHPLVLQFOXGHGLQILHOGGHYLFHVDQGPDQXDOFRQWUROXQLWV,WLVQHFHVVDU\WR
KDYHDQH[WHUQDOPRGHPIRU3&VXSSRUWHGZRUNVWDWLRQV7KHH[WHUQDOPRGHPLVFRQQHFWHGWR
WKHVHULDOLQWHUIDFH
6RIWZDUHKLVWRU\
+$57LGHQWLILFDWLRQFRGHVDQGUHYLVLRQQXPEHUV
,1)250$7,21
,QWKHWDEOHEHORZ[LVDSODFHKROGHUIRUSRVVLEOHPXOWLGLJLWDOSKDQXPHULFFRPELQDWLRQV
GHSHQGLQJRQWKHDYDLODEOHYHUVLRQ
5HOHDVHGDWH 'HYLFHV +$57
'HYLFH5HYLVLRQ ''5HYLVLRQ
 $OOUHYLVLRQV
0DQXIDFWXUHU,' [
'HYLFH [(
'HYLFH5HYLVLRQ 
''5HYLVLRQ 
+$578QLYHUVDO5HYLVLRQ 
)&V\VWHP6:5HY t
$06YHUVLRQ t
3'0YHUVLRQ ±
)'7YHUVLRQ t
'(6&5,37,212)+$57,17(5)$&(

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
&RQQHFWLRQYDULDQWV
7KHVLJQDOFRQYHUWHULVDZLUHGHYLFHZLWK P$FXUUHQWRXWSXWDQG+$57
LQWHUIDFH
á0XOWL'URS0RGHLVVXSSRUWHG
0XOWL'URS0RGHLVVXSSRUWHG0XOWL'URS0RGHLVVXSSRUWHG
0XOWL'URS0RGHLVVXSSRUWHG
,QD0XOWL'URSFRPPXQLFDWLRQV\VWHPPRUHWKDQGHYLFHLVFRQQHFWHGWRDFRPPRQ
WUDQVPLVVLRQFDEOH
á%XUVW0RGHLVQRWVXSSRUWHG
%XUVW0RGHLVQRWVXSSRUWHG%XUVW0RGHLVQRWVXSSRUWHG
%XUVW0RGHLVQRWVXSSRUWHG
7KHUHDUHWZRZD\VRIXVLQJWKH+$57
FRPPXQLFDWLRQ
áDV3RLQWWR3RLQWFRQQHFWLRQDQG
áDV0XOWL'URSFRQQHFWLRQZLWKZLUHFRQQHFWLRQ
3RLQWWR3RLQWFRQQHFWLRQDQDORJXHGLJLWDOPRGH
3RLQWWR3RLQWFRQQHFWLRQEHWZHHQWKHVLJQDOFRQYHUWHUDQGWKH+$570DVWHU
7KHFXUUHQWRXWSXWRIWKHGHYLFHLVSDVVLYH
$OVR
0XOWL'URSFRQQHFWLRQZLUHFRQQHFWLRQ
)RUDQLOOXVWUDWLRQRIPXOWLGURSQHWZRUNV
+$57GHYLFHYDULDEOHV
7KH+$57G\QDPLFYDULDEOHV393ULPDU\9DULDEOH696HFRQGDU\9DULDEOH797KLUG9DULDEOH
DQG49)RXUWK9DULDEOHFDQEHDVVLJQHGWRDQ\RIWKHGHYLFHYDULDEOHV
7KH+$57G\QDPLFYDULDEOH39LVDOZD\VFRQQHFWHGWRWKH+$57FXUUHQWRXWSXWZKLFKLVIRU
H[DPSOHDVVLJQHGWROHYHOPHDVXUHPHQW
)LHOG&RPPXQLFDWRU)& 
7KH)LHOG&RPPXQLFDWRULVDKDQGWHUPLQDOIURP(PHUVRQ3URFHVV0DQDJHPHQWWKDWLV
GHVLJQHGWRFRQILJXUH+$57DQG)RXQGDWLRQ)LHOGEXVGHYLFHV'HYLFH'HVFULSWLRQV''VDUH
XVHGWRLQWHJUDWHGLIIHUHQWGHYLFHVLQWRWKH)LHOG&RPPXQLFDWRU
,QVWDOODWLRQ
6\VWHPDQGVRIWZDUHUHTXLUHPHQWVIRUWKH)LHOG&RPPXQLFDWRU
á6\VWHPFDUGWKDWLQFOXGHVWKH(DV\8SJUDGH2SWLRQ
á)LHOG&RPPXQLFDWRU(DV\8SJUDGH3URJUDPPLQJ8WLOLW\
á+$57
'HYLFH'HVFULSWLRQILOH
&$87,21
7KH)LHOG&RPPXQLFDWRUFDQQRWEHXVHGWRFRUUHFWO\FRQILJXUHRSHUDWHRUUHDGGDWDIURPWKH
GHYLFHXQOHVVWKH'HYLFH'HVFULSWLRQ''ILOHLVLQVWDOOHG
'(6&5,37,212)+$57,17(5)$&(

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
)RUPRUHGDWDUHIHUWRWKH)LHOG&RPPXQLFDWRU8VHUV0DQXDO
2SHUDWLRQ
7KH)LHOG&RPPXQLFDWRUDQGWKHGHYLFHVORFDOGLVSOD\XVHDOPRVWWKHVDPHSURFHGXUHVWR
RSHUDWHWKHVLJQDOFRQYHUWHU7KHRQOLQHKHOSIRUHDFKPHQXLWHPUHIHUVWRWKHIXQFWLRQQXPEHU
JLYHQWRHDFKPHQXLWHPRQWKHORFDOGHYLFHGLVSOD\3URWHFWLRQRIVHWWLQJVLVWKHVDPHDVRQWKH
GHYLFHVORFDOGLVSOD\
7KH)LHOG&RPPXQLFDWRUDOZD\VVDYHVDFRPSOHWHFRQILJXUDWLRQIRUFRPPXQLFDWLRQZLWK$06
)RUPRUHGDWDUHIHUWR
+$57
PHQXWUHHIRU%DVLF''RQSDJH
$VVHW0DQDJHPHQW6ROXWLRQV$06
7KH$VVHW0DQDJHPHQW6ROXWLRQV'HYLFH0DQDJHU$06
LVD3&SURJUDPIURP(PHUVRQ
3URFHVV0DQDJHPHQWZKLFKLVGHVLJQHGWRFRQILJXUHDQGPDQDJH+$57
352),%86DQG
)RXQGDWLRQ)LHOGEXVGHYLFHV'HYLFH'HVFULSWLRQV''VDUHXVHGWRLQWHJUDWHGLIIHUHQWGHYLFHV
LQWRWKH$06
,QVWDOODWLRQ
3OHDVHUHDGWKH5($'0(7;7ILOHLQWKH,QVWDOODWLRQ.LW
,IWKH'HYLFH'HVFULSWLRQKDVQRWEHHQLQVWDOOHGDWWKLVWLPHLQVWDOOWKH,QVWDOODWLRQ.LW+$57
$067KLV(;(ILOHLVJLYHQRQWKH'9'520VXSSOLHGZLWKWKHGHYLFH<RXFDQDOVRGRZQORDGWKH
ILOHIURPRXUZHEVLWH
)RULQVWDOODWLRQGDWDUHIHUWRWKH$06,QWHOOLJHQW'HYLFH0DQDJHU%RRNV2QOLQHVHFWLRQ%DVLF
$06)XQFWLRQDOLW\ !'HYLFH&RQILJXUDWLRQV !,QVWDOOLQJ'HYLFH7\SHV !3URFHGXUHV !,QVWDOO
GHYLFHW\SHVIURPPHGLD
2SHUDWLRQ
3DUDPHWHUIRUWKHEDVLFFRQILJXUDWLRQ
'XHWR$06UHTXLUHPHQWVDQGFRQYHQWLRQVWKHUHDUHGLIIHUHQFHVZKHQRSHUDWLQJWKHVLJQDO
FRQYHUWHUZLWK$06DQGRSHUDWLQJXVLQJWKHORFDONH\ERDUG7KHVHUYLFHPHQXSDUDPHWHUVDUH
QRWVXSSRUWHGDQGVLPXODWLRQLVRQO\SRVVLEOHIRUFXUUHQWRXWSXWV7KHRQOLQHKHOSIRUHDFK
SDUDPHWHUFRQWDLQVLWVIXQFWLRQQXPEHUDVDUHIHUHQFHWRWKHORFDOGHYLFHGLVSOD\
,1)250$7,21
7KH)LHOG&RPPXQLFDWRUZLOOQRWJLYH\RXDFFHVVWRWKHVHUYLFHPHQX$VLPXODWLRQLVRQO\
SRVVLEOHIRUFXUUHQWRXWSXWV
,1)250$7,21
)RUPRUHGDWDUHIHUWR+$57
PHQXWUHHIRU$06RQSDJH
'(6&5,37,212)+$57,17(5)$&(

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
)LHOG'HYLFH7RRO'HYLFH7\SH0DQDJHU)'7'70
,QVWDOODWLRQ
%HIRUH\RXRSHUDWHWKHGHYLFHWKH'HYLFH7\SH0DQDJHU'HYLFH'70PXVWEHLQVWDOOHGLQWKH
)LHOG'HYLFH7RRO&RQWDLQHU7KLVPVLILOHLVJLYHQRQWKH'9'520VXSSOLHGZLWKWKHGHYLFH<RX
FDQDOVRGRZQORDGWKHILOHIURPRXUZHEVLWH)RULQVWDOODWLRQDQGFRQILJXUDWLRQGDWDUHIHUWRWKH
GRFXPHQWDWLRQWKDWLVVXSSOLHGZLWKWKH'HYLFH'70RQWKH'9'520RULQWKH'RZQORDGV
VHFWLRQRIWKHZHEVLWH
2SHUDWLRQ
7KH'70DQGWKHGHYLFHVORFDOGLVSOD\XVHDOPRVWWKHVDPHSURFHGXUHVWRRSHUDWHWKHVLJQDO
FRQYHUWHU)RUPRUHGDWDUHIHUWR
2SHUDWLRQ
RQSDJH
+$57
PHQXWUHHIRU%DVLF''
$EEUHYLDWLRQVRIWKHIROORZLQJWDEOHV
á
2SW
2SWLRQDOGHSHQGLQJRQGHYLFHYHUVLRQDQGFRQILJXUDWLRQ
á
5G
5HDGRQO\
2YHUYLHZ%DVLF''PHQXWUHHSRVLWLRQVLQPHQXWUHH
 0HDVXUHPHQWV  0HDVXUHPHQWV
 2XWSXW
 &RQILJXUDWLRQDQG7HVW  ,QIR  ,GHQWLILFDWLRQ
 2XWSXW
 6XSHUYLVRU  7HVW
 %DVLF3DUDPHWHUV
 6LJQDO2XW
 $SSOLFDWLRQ
 'LVSOD\
 &RQYHUVLRQ7DEOH
 5HVHW
 'LDJ6HUYLFH  6WDWXV  6WDQGDUG6WDWXV
 'HYLFHVSHFLILF6WDWXV
 $FFHVV5LJKWV  $FFHVVOHYHO
 0HWKRG/RJLQ
 0HWKRGHQWU\&RGH
 +$57YDULDEOHV
'(6&5,37,212)+$57,17(5)$&(

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
%DVLF''PHQXWUHHGHWDLOVIRUVHWWLQJV
 0HDVXUHPHQWV
 0HDVXUHPHQWV  /HYHOYDOXH
5G
 'LVWDQFHYDOXH
5G
 9ROXPHYDOXH
5G
 8OODJHYDOXH
5G
 5HIOHFWLRQ
YDOXH
5G
 ,QSXWV2XWSXWV  39
5G
 39/RRS&XUUHQW
5G
 39UQJH
5G
 &RQILJXUDWLRQDQG7HVW
 ,QIR  ,GHQWLILFDWLRQ  6HULDO1XPEHU
5G
 &RQYHUWHU)LUPZDUH9HUVLRQ
5G
 6HQVRU
)LUPZDUH9HUVLRQ
5G
 +0,)LUPZDUH9HUVLRQ
5G
 2XWSXW  )XQFWLRQ,
5G
 2XWSXW5DQJH
5G
 39859
5G
 39/59
5G

 2XWSXW(UURU'HOD\
5G
 6XSHUYLVRU  7HVW  7HVW,
 %DVLV3DUDPHWHUV  7DQN+HLJKW  %ORFNLQJ'LVWDQFH  7LPH&RQVWDQW  3LSH
(QDEOHG  3LSH'LDPHWHU  3LSH+HLJKW  $QWHQQD([WHQVLRQ 
 $QWHQQD7\SH  'LVWDQFH3LHFH  /HQJWK8QLW+$57 
 9ROXPH8QLW+$57
 6LJQDO2XW  )XQFWLRQ,  39/59  39859  2XWSXW5DQJH  2XWSXW
(UURU'HOD\  &XUUHQW2XSXW&DOLEUDWLRQ
&XVW
 $SSOLFDWLRQ  7DQN7\SH  7UDFNLQJ9HORFLW\  (VLORQ53URGXFW 
 0HDVXULQJ0RGH  2YHUILOO'HWHFWLRQ  0XOWLSOH5HIOHFWLRQ 
 (PSW\6SHFWUXP  5HFRUG(PSW\6SHFWUXP
 'LVSOD\  /DQJXDJH  'LVSOD\/HQJWK8QLW  'LVSOD\9ROXPH8QLW
 &RQYHUVLRQ7DEOH  ,QSXWWDEOH  'HOHWHWDEOH
 5HVHW  :DUPVWDUW  )DFWRU\UHVHW  5HVHW&RQILJXUDWLRQ&KDQJHG
IODJ
 'LDJ6HUYLFH
 6WDWXV  6WDQGDUGVWDWXV  'HYLFHVWDWXV
5G
 :ULWHSURWHFW
5G
 'HYLFHVSHFLILF
VWDWXV  'HYLFHIDLOXUHV  (UURU
5G
 (UURU
5G
 (UURU
5G
 'HYLFHZDUQLQJPDLQWHQDQFH
UHTXLUHG  :DUQLQJ
5G
 'HYLFHZDUQLQJRXWRI
VSHFLILFDWLRQ  :DUQLQJ
5G
 ,QIR  ,QIR
5G
 $FFHVV5LJKWV
 $FFHVV/HYHO $FFHVV1RW*UDQWHG
 0HWKRG/RJLQ  1R$FFHVV/RJ2XW  6XSHUYLVRU1RUPDO8VHU  6HUYLFH
 0HWKRG(QWU\&RGH
 +$57YDULDEOHV
 3ROODGGU  7DJ  +DUGZDUHUHY
5G
 6RIWZDUHUHY
5G
 'HVFULSWRU  'DWH 
 0HVVDJH  0DQXIDFWXUHU
5G
 0RGHO
5G
'HYLG
5G
8QLYHUVDOLG
5G
)OGGHYUHY
5G
1XP
UHTSUHDPV
5G
1XPUHVSSUHDPV
5G
:ULWHSURWHFW
5G
3URGXFWLRQQXPEHU
5G
)LQDO
DVPEO\QXP
5G
39LV 69LV 79LV 49LV
'(6&5,37,212)+$57,17(5)$&(

237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
+$57
PHQXWUHHIRU$06
$EEUHYLDWLRQVRIWKHIROORZLQJWDEOHV
á
2SW
2SWLRQDOGHSHQGLQJRQGHYLFHYHUVLRQDQGFRQILJXUDWLRQ
á
5G
5HDGRQO\
2YHUYLHZ$06PHQXWUHHSRVLWLRQVLQPHQXWUHH
$06PHQXWUHHGHWDLOVIRUVHWWLQJV
3URFHVVYDULDEOHV 0HDVXUHPHQWV
$QDORJ2XWSXW
'HYLFH'LDJQRVWLFV 2YHUYLHZ
)DWDO(UURUV
:DUQLQJV0DLQWHQDQFHUHTXLUHG
:DUQLQJV2XWRIVSHFLILFDWLRQV
:DUQLQJV)XQFWLRQFKHFN
0HWKRGV $FFHVV5LJKW
7HVWV
&DOLEUDWH
(PSW\6SHFWUXP
&RQYHUVLRQ7DEOH
0DVWHUUHVHW
&RQILJXUH 6HWXS %DVLF6HWXS %DVLF3DUDPHWHUV
/RFDO'LVSOD\
$SSOLFDWLRQ
$QDORJ2XWSXW 2XWSXW)XQFWLRQV
2XWSXW
8QLWV
'HYLFH
+$57 ,'
&RQYHUVLRQWDEOH
3URFHVV9DULDEOHV
0HDVXUHPHQWV /HYHO
5G
'LVWDQFH
5G
9ROXPH0DVV)ORZ
5G
8OODJH9ROXPH0DVV)ORZ
5G

5HIOHFWLRQ
5G
3ULPDU\2XWSXW )XQFWLRQ, /RRSFXUUHQW
5G
393HUFHQWRI5DQJH
5G
'HYLFH'LDJQRVWLFV
2YHUYLHZ 3ULPDU\YDULDEOHRXWRIOLPLWV 1RQSULPDU\YDULDEOHRXWRIOLPLWV 3ULPDU\
YDULDEOHDQDORJRXWSXWVDWXUDWHG 3ULPDU\YDULDEOHDQDORJRXWSXWIL[HG &ROG
6WDUW &RQILJXUDWLRQFKDQJHG )LHOGGHYLFHPDOIXQFWLRQ
'(6&5,37,212)+$57,17(5)$&(

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
)DWDO(UURUV)DLOXUH &RQYHUWHU((3520HUURU &RQYHUWHU5$0HUURU &RQYHUWHU520HUURU 
6HQVRU((3520HUURU 6HQVRU5$0HUURU 6HQVRU520HUURU &XUUHQW
RXWSXWGULIW 6HQVRU0LFURZDYHHUURU &RQYHUWHU9ROWDJHHUURU 6HQVRU
9ROWDJHHUURU ,QWHUQDO&RPPHUURU 7HPSHUDWRXWRIUDQJH 6HQVRUQRW
FRPSDWLEOH 6HQVRUQRVLJQDO 6HQVRUSURFHVVLQJIDLOXUH 3HDNORVWHUURU 
2YHUILOOHUURU
:DUQLQJV0DLQWHQDQFH
UHTXLUHG
(PSW\VSHFWUXPLQYDOLG 6LJQDOZHDN 6LJQDOVWURQJ %DG0HDVXUHPHQW
4XDOLW\ 7HPSHUDWXUH & 7HPSHUDWXUH! &
:DUQLQJV2XWRI
VSHFLILFDWLRQ
3HDNORVW 2YHUILOO 7HPSHUDWXUHRXWRIUDQJH
:DUQLQJV)XQFWLRQFKHFN /RFDORSHUDWLRQRQWKHGHYLFH
,QIRUPDWLRQ 6SHFWUXPTXDOLW\EDG 3HDNORVWLQWDQNERWWRP 7HPSHUDWXUHRXWRIUDQJH
IRU+0,
0HWKRGV
$FHVVULJKW /RJ,Q/RJ2XW 3DVVZRUG<HV1R
7HVWV 7HVW2XWSXW,
&DOLEUDWH '$7ULP
(PSW\6SHFWUXP (PSW\6SHF5HF
&RQYHUVLRQ7DEOH ,QSXWWDEOH 'HOHWHWDEOH
5HVHW 5HVWDUW'HYLFH 5HVHW)DFWRU\ 5VW&RQI&KJHGIODJ
&RQILJXUH 6HWXS
%DVLF6HWXS %DVLF3DUDPHWHUV 7DQN+HLJKW %ORFNLQJ'LVWDQFH 7LPH&RQVWDQW 
6WLOOZHOO(QDEOHG 6WLOOZHOO'LDPHWHU 6WLOOZHOO
+HLJKW $QWHQQD([WHQVLRQ $QWHQQD7\SH 
'LVWDQFH3LHFH 7DJ
/RFDO'LVSOD\ 'LVSOD\OHQJWKXQLW 'LVSOD\YROXPHXQLW /DQJXDJH
$SSOLFDWLRQ 7DQN7\SH 7UDFNLQJYHORFLW\ (SVLORQ5SURGXFW 
0HDVXULQJ0RGH 2YHUILOO'HWHFWLRQ 0XOWLSOH
5HIOHFWLRQ (PSW\6SHFWUXP2Q2II
$QDORJ2XWSXW 2XWSXW)XQFWLRQV )XQFWLRQ, 69 79 49
2XWSXW 2XWSXW5DQJH 2XWSXW(UURU'HOD\ /59 859
8QLWV /HQJWKXQLW+$57 9ROXPHXQLW+$57 7LPHFRQVWDQW
'HYLFH 0RGHO 0DQXIDFWXUHU )OGGHYUHY 6RIWZDUHUHY :ULWHSURWHFW ,QWHUIDFH
RSWLRQ
5G
'HVFULSWRU 0HVVDJH 'DWH 6HULDOQXPEHU &RQYHUWHUILUPZDUH
QXPEHU 6HQVRU)LUPZDUHQXPEHU +0,)LUPZDUHQXPEHU
+$57 ,' 7DJ 3ROOLQJDGGUHVV 'HYLFH,'
8QLYHUVDOUHYLVLRQ )OGGHYUHY1XP 1XPUHTXHVW
SUHDPV
&RQYHUVLRQWDEOH 1XPEHURISRLQWV /HQJWKXQLW
5G
&RQYHUVLRQXQLW
5G
3RLQWVOHYHO
FRQYHUVLRQSDLUV
$33(1',;


237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
2UGHUFRGH
0DNHDVHOHFWLRQIURPHDFKFROXPQWRJHWWKHIXOORUGHUFRGH7KHFKDUDFWHUVRIWKHRUGHUFRGH
KLJKOLJKWHGLQOLJKWJUH\GHVFULEHWKHVWDQGDUG
9) 237,)/(;  & *+]1RQFRQWDFW5DGDU)0&:OHYHOPHWHUIRUK\JLHQLFDSSOLFDWLRQV
237,)/(;  & *+]1RQFRQWDFW5DGDU)0&:OHYHOPHWHUIRUK\JLHQLFDSSOLFDWLRQV237,)/(;  & *+]1RQFRQWDFW5DGDU)0&:OHYHOPHWHUIRUK\JLHQLFDSSOLFDWLRQV
237,)/(;  & *+]1RQFRQWDFW5DGDU)0&:OHYHOPHWHUIRUK\JLHQLFDSSOLFDWLRQV
&RQYHUWHU 9HUVLRQ+RXVLQJPDWHULDO
&RQYHUWHU 9HUVLRQ+RXVLQJPDWHULDO&RQYHUWHU 9HUVLRQ+RXVLQJPDWHULDO
&RQYHUWHU 9HUVLRQ+RXVLQJPDWHULDO
237,:$9(  &&RPSDFWYHUVLRQ$OXPLQLXP±,3 
237,:$9(  &&RPSDFWYHUVLRQ6WDLQOHVVVWHHO±,3 
$SSURYDO
$SSURYDO$SSURYDO
$SSURYDO
 :LWKRXW
$7(;,, *([ LD,,&7*D*E,, '([ LD,,,&'D'E
$7(;,, *([ G LD,,&7*D*E,, '([ LD WE,,,&'D'E
$7(;,, *([ LF,,&7*F,, '([ LF,,,&'F=RQHDQG
,(&([([ LD,,&7*D*E([ LD,,,&'D'E
,(&([([ G LD,,&7*D*E([ LD WE,,,&'D'E
,(&([([ LF,,&7*F([ LF,,,&'F=RQHDQG
$ F436XV,6&/ ,,,,,,',9 *36 $±*&/ ,]RQH([ LD,,&,,,&7

% F436XV;3±$,6',3&/ ,,,,,,',9 *36 $±*$QRWIRU&$1&/ ,]RQH ([ G>LD@WE>LD@,,&,,,&
7

& F436XV1,&/ ,,,,,,',9 *36 $±*&/ ,]RQH([ Q$,,&7

/ 1(36,([ LD,,&7*D*E',3$$

0 1(36,([ G LD,,&7*D*E',3$$

5 ,10(752([ LD,,&7*D*E([LD,,,&'D'E

6 ,10(752([ G LD,,&7*D*E([ LD WE,,,&'D'E

7 ,10(752([ LF,,&7*F([ LF,,,&'F=RQH

2WKHUDSSURYDO
2WKHUDSSURYDO2WKHUDSSURYDO
2WKHUDSSURYDO
 :LWKRXW
6,/ 
$ :+*
% ($&5XVVLD
& ($&%HODUXV
' ($&5XVVLD6,/ 
( ($&%HODUXV6,/ 
) $
+ (+('*
. ($&.D]DNKVWDQ
/ ($&.D]DNKVWDQ6,/ 
: :+*6,/ 
9)
9)9)
9)  2UGHUFRGHFRPSOHWHWKLVFRGHRQWKHSDJHVWKDWIROORZ
2UGHUFRGHFRPSOHWHWKLVFRGHRQWKHSDJHVWKDWIROORZ2UGHUFRGHFRPSOHWHWKLVFRGHRQWKHSDJHVWKDWIROORZ
2UGHUFRGHFRPSOHWHWKLVFRGHRQWKHSDJHVWKDWIROORZ

$33(1',;

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
3UHVVXUH 7HPSHUDWXUH 6HDOLQJ
3UHVVXUH 7HPSHUDWXUH 6HDOLQJ3UHVVXUH 7HPSHUDWXUH 6HDOLQJ
3UHVVXUH 7HPSHUDWXUH 6HDOLQJ
 :LWKRXW
 EDU SVLJ &«) 3((.9$5,9(17'1
 EDU SVLJ &&)«) 3((.',1'1606'5'
'1
 EDU SVLJ &&)«) 3((.7UL&ODPSòDQG
',1 '11HXPR'1
 EDU SVLJ &&)«) 3((.'1DQG'1IODQJHV
0DWHULDODQG$QWHQQD
0DWHULDODQG$QWHQQD0DWHULDODQG$QWHQQD
0DWHULDODQG$QWHQQD
 :LWKRXW
3((. /HQV PPZLWKDGDSWRURQO\7/35
3((. /HQV PP7UL&ODPS1HXPR'1DQG'1DQG'1IODQJHV
/35
 3URFHVVFRQQHFWLRQVL]H(1
3URFHVVFRQQHFWLRQVL]H(13URFHVVFRQQHFWLRQVL]H(1
3URFHVVFRQQHFWLRQVL]H(1±$60(
$60($60(
$60(±-,6
-,6-,6
-,6
 :LWKRXW
* '1±ò±$
+ '1±±$
. '1±±$
3URFHVVFRQQHFWLRQSUHVVXUHFODVV
3URFHVVFRQQHFWLRQSUHVVXUHFODVV3URFHVVFRQQHFWLRQSUHVVXUHFODVV
3URFHVVFRQQHFWLRQSUHVVXUHFODVV
 :LWKRXW
 OE$60(%
 OE$60(%
 OE$60(%
' 31(1 
( 31(1 
) 31(1 
* 31(1 
+ 31(1 
. 31(1 
3 *$WKUHDGHG,62 
8 -,6.%
9 -,6.%
: -,6.%
3URFHVVFRQQHFWLRQVHDOLQJIDFH VDQLWDU\
3URFHVVFRQQHFWLRQVHDOLQJIDFH VDQLWDU\3URFHVVFRQQHFWLRQVHDOLQJIDFH VDQLWDU\
3URFHVVFRQQHFWLRQVHDOLQJIDFH VDQLWDU\
 :LWKRXW
6WDQGDUG7\SH%(1 
$ 5)$60(%UDLVHGIDFH
0 5-$60(%ULQJMRLQW
3 5)-,6%UDLVHGIDFH
6 7UL&ODPS,62 
7 ',1 
8 606 
: 1HXPR%LR&RQQHFW
9)
9)9)
9)  2UGHUFRGHFRPSOHWHWKLVFRGHRQWKHSDJHVWKDWIROORZ
2UGHUFRGHFRPSOHWHWKLVFRGHRQWKHSDJHVWKDWIROORZ2UGHUFRGHFRPSOHWHWKLVFRGHRQWKHSDJHVWKDWIROORZ
2UGHUFRGHFRPSOHWHWKLVFRGHRQWKHSDJHVWKDWIROORZ
$33(1',;


237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
2XWSXW
2XWSXW2XWSXW
2XWSXW
ZLUH  P$SDVVLYH+$57
$ ZLUH )281'$7,21ILHOGEXV
% ZLUH 352),%863$
&DEOHHQWU\ &DEOHJODQG
&DEOHHQWU\ &DEOHJODQG&DEOHHQWU\ &DEOHJODQG
&DEOHHQWU\ &DEOHJODQG
0 ZLWKRXW
0 3ODVWLF
0 1LFNHOSODWHGEUDVV
0 6WDLQOHVVVWHHO
0 DGGLWLRQDO0FRQQHFWRU
$ò137QLFNHOSODWHGEUDVV ZLWKRXW
%ò137VWDLQOHVVVWHHO ZLWKRXW
+RXVLQJRSWLRQ 'LVSOD\
+RXVLQJRSWLRQ 'LVSOD\+RXVLQJRSWLRQ 'LVSOD\
+RXVLQJRSWLRQ 'LVSOD\
$ 9HUWLFDOKRXVLQJ 1RGLVSOD\
% 9HUWLFDOKRXVLQJ 'LVSOD\RQWRS
' 9HUWLFDOKRXVLQJ 1RGLVSOD\ZLWKZHDWKHUSURWHFWLRQ
( 9HUWLFDOKRXVLQJ 'LVSOD\RQWRSZLWKZHDWKHUSURWHFWLRQ
2SHUDWLQJODQJXDJH
2SHUDWLQJODQJXDJH2SHUDWLQJODQJXDJH
2SHUDWLQJODQJXDJH
 :LWKRXW
 (QJOLVK
 *HUPDQ
 )UHQFK
 ,WDOLDQ
 6SDQLVK
 3RUWXJXHVH
 -DSDQHVH
 &KLQHVHVLPSOLILHG
$ 5XVVLDQ
9HUVLRQ
9HUVLRQ9HUVLRQ
9HUVLRQ
.52+1(5$/  5$/ 
 .52+1(86$)&&
$ .0,& /IRUOLTXLGDSSOLFDWLRQV
   &DOLEUDWLRQFHUWLILFDWH
&DOLEUDWLRQFHUWLILFDWH&DOLEUDWLRQFHUWLILFDWH
&DOLEUDWLRQFHUWLILFDWH
 :LWKRXW
 &DOLEUDWLRQFHUWLILFDWH PP
SRLQWV
 &DOLEUDWLRQFHUWLILFDWH PP
SRLQWV
 &DOLEUDWLRQFHUWLILFDWH PP
SRLQWVVSHFLILHGE\WKHFXVWRPHUPLQ
t PP
   2UGHUFRGHFRPSOHWHWKLVFRGHRQWKH
2UGHUFRGHFRPSOHWHWKLVFRGHRQWKH2UGHUFRGHFRPSOHWHWKLVFRGHRQWKH
2UGHUFRGHFRPSOHWHWKLVFRGHRQWKH
SDJHVWKDWIROORZ
SDJHVWKDWIROORZSDJHVWKDWIROORZ
SDJHVWKDWIROORZ

$33(1',;

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
7DJ1
7DJ17DJ1
7DJ1
 :LWKRXW
 7DJQRQVWDLQOHVVVWHHOSODWH
FKDUDFWHUVPD[
2WKHUFRQVWUXFWLRQV
2WKHUFRQVWUXFWLRQV2WKHUFRQVWUXFWLRQV
2WKHUFRQVWUXFWLRQV
 :LWKRXW
1$&(05  05  
,62 
 3XUJLQJ
1$&(05  05  
,62 3XUJLQJ
9)
9)9)
9)    2UGHUFRGH
2UGHUFRGH2UGHUFRGH
2UGHUFRGH
3HQGLQJ
$33(1',;


237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
6SDUHSDUWV
:HVXSSO\VSDUHSDUWVIRUWKLVGHYLFH:KHQ\RXVHQGDQRUGHUIRUDPHFKDQLFDOVSDUHSDUWXVH
WKHUHIHUHQFHQXPEHUVLQWKHWDEOHWKDWIROORZV:KHQ\RXVHQGDQRUGHUIRUDQHOHFWURQLFVSDUH
SDUWUHIHUWR
2UGHUFRGH
RQSDJHDQGXVHWKH9)RUGHUFRGH
0HFKDQLFDOVSDUHSDUWV
;) 237,)/(;  & *+]1RQFRQWDFW5DGDU)0&:OHYHOPHWHUIRUOK\JLHQLFDSSOLFDWLRQV
237,)/(;  & *+]1RQFRQWDFW5DGDU)0&:OHYHOPHWHUIRUOK\JLHQLFDSSOLFDWLRQV237,)/(;  & *+]1RQFRQWDFW5DGDU)0&:OHYHOPHWHUIRUOK\JLHQLFDSSOLFDWLRQV
237,)/(;  & *+]1RQFRQWDFW5DGDU)0&:OHYHOPHWHUIRUOK\JLHQLFDSSOLFDWLRQV
3UHVVXUH 7HPSHUDWXUH 6HDOLQJ
3UHVVXUH 7HPSHUDWXUH 6HDOLQJ3UHVVXUH 7HPSHUDWXUH 6HDOLQJ
3UHVVXUH 7HPSHUDWXUH 6HDOLQJ
 :LWKRXW
 EDU &&)«) ).0)30
IRUWKH0HWDOOLF+RUQDQWHQQDDQG:DYH*XLGH
 EDU &&)«) (3'0
IRUWKH0HWDOOLF+RUQDQWHQQDDQG:DYH*XLGH
 EDU &&)«) .DOUH]
IRUWKH0HWDOOLF+RUQDQWHQQDDQG:DYH*XLGH
$  EDU &&)«) 3)$IRUWKH0HWDOOLF+RUQDQWHQQDDQG:DYH*XLGH
'  EDU &&)«) ).09LWRQ
IRUWKH0HWDOOLF+RUQDQWHQQDDQG:DYH*XLGH
.  EDU &&)«) .DOUH]
IRUWKH0HWDOOLF+RUQDQWHQQDDQG:DYH*XLGH
5  EDU &&)«) 33IRUWKH33:DYH+RUQDQWHQQD
7  EDU &&)«) 37)(IRUWKH37)(:DYH+RUQDQWHQQD
0DWHULDODQG$QWHQQD
0DWHULDODQG$QWHQQD0DWHULDODQG$QWHQQD
0DWHULDODQG$QWHQQD
 :LWKRXW
/ 0HWDOOLFKRUQVKHHWPHWDO'1
/ 0HWDOOLFKRUQVKHHWPHWDO'1
/ 0HWDOOLFKRUQVKHHWPHWDO'1
/ 0HWDOOLFKRUQVKHHWPHWDO'1
* 33 :DYH+RUQPD[LPXPVRFNHWOHQJWK PP 
+ 37)( :DYH+RUQPD[LPXPQR]]OHOHQJWK PP 
/ / 0HWDOOLFZDYHJXLGHd P IW
0 / 0HWDOOLFZDYHJXLGHd P IW
1 / 0HWDOOLFZDYHJXLGHd P IW
3 / 0HWDOOLFZDYHJXLGHd P IW
5 / 0HWDOOLFZDYHJXLGHd P IW
6 / 0HWDOOLFZDYHJXLGHd P IW
7 / 0HWDOOLFZDYHJXLGHd P IW
8 / 0HWDOOLFZDYHJXLGHd P IW
9 / 0HWDOOLFZDYHJXLGHd P IW
: / 0HWDOOLFZDYHJXLGHd P IW
; / 0HWDOOLFZDYHJXLGHd P IW
;)
;);)
;)     2UGHUFRGHFRPSOHWHWKLVFRGHRQWKHSDJHVWKDWIROORZ
2UGHUFRGHFRPSOHWHWKLVFRGHRQWKHSDJHVWKDWIROORZ2UGHUFRGHFRPSOHWHWKLVFRGHRQWKHSDJHVWKDWIROORZ
2UGHUFRGHFRPSOHWHWKLVFRGHRQWKHSDJHVWKDWIROORZ

$33(1',;

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
0DWHULDODQG$QWHQQDH[WHQVLRQ
0DWHULDODQG$QWHQQDH[WHQVLRQ0DWHULDODQG$QWHQQDH[WHQVLRQ
0DWHULDODQG$QWHQQDH[WHQVLRQ
 :LWKRXW
37)(DQWHQQDH[WHQVLRQIRUPD[LPXPQR]]OHOHQJWK PP 

37)(DQWHQQDH[WHQVLRQIRUPD[LPXPQR]]OHOHQJWK PP 

37)(DQWHQQDH[WHQVLRQIRUPD[LPXPQR]]OHOHQJWK PP 

( /  PPIRUWKH0HWDOOLF+RUQDQWHQQDRSWLRQRQO\

) /  PPIRUWKH0HWDOOLF+RUQDQWHQQDRSWLRQRQO\

* /  PPIRUWKH0HWDOOLF+RUQDQWHQQDRSWLRQRQO\

+ /  PPIRUWKH0HWDOOLF+RUQDQWHQQDRSWLRQRQO\

. /  PPIRUWKH0HWDOOLF+RUQDQWHQQDRSWLRQRQO\

5 /  PPIRUWKH0HWDOOLF+RUQDQWHQQDRSWLRQRQO\

: / 6H[WHQVLRQ

; / /ULJKWDQJOHH[WHQVLRQ

< / 'LVWDQFHSLHFHIRUKLJKWHPSHUDWXUH+7YHUVLRQ
0HWDOOLF+RUQRU:DYH*XLGHDQWHQQDV
3URFHVVFRQQHFWLRQ6L]H 3UHVVXUHUDWLQJ )ODQJHILQLVK
3URFHVVFRQQHFWLRQ6L]H 3UHVVXUHUDWLQJ )ODQJHILQLVK3URFHVVFRQQHFWLRQ6L]H 3UHVVXUHUDWLQJ )ODQJHILQLVK
3URFHVVFRQQHFWLRQ6L]H 3UHVVXUHUDWLQJ )ODQJHILQLVK
   :LWKRXW
7KUHDGHG ,62 
* 3 * ò

7KUHDGHG $60(%
* $ ò137

(1 ',1)ODQJHV (1 

+ ( '131 7\SH%IODQJH

+ * '131 7\SH%IODQJ

/ ( '131 7\SH%IODQJH
/ * '131 7\SH%IODQJH
0 ( '131 7\SH%IODQJH
0 * '131 7\SH%IODQJH
3 ( '131 7\SH%IODQJH
3 * '131 7\SH%IODQJH
5 ( '131 7\SH%IODQJH

5 * '131 7\SH%IODQJH

$60(% $16,)ODQJHV

+  $  OE5)

+  $  OE5)

/ $  OE5)
/ $  OE5)
0  $  OE5)
0  $  OE5)
3  $  OE5)
3  $  OE5)
5  $  OE5)

5  $  OE5)

;)
;);)
;)     2UGHUFRGHFRPSOHWHWKLVFRGHRQWKHSDJHVWKDWIROORZ
2UGHUFRGHFRPSOHWHWKLVFRGHRQWKHSDJHVWKDWIROORZ2UGHUFRGHFRPSOHWHWKLVFRGHRQWKHSDJHVWKDWIROORZ
2UGHUFRGHFRPSOHWHWKLVFRGHRQWKHSDJHVWKDWIROORZ
$33(1',;


237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
-,6%)ODQJHV
+ 8 3 .$5)

/ 8 3 .$5)
0 8 3 .$5)
3 8 3 .$5)
5 8 3 .$5)

$OWHUQDWLYHIODQJHIDFHV
 :LWKRXW
7\SH%(1 VXUIDFHURXJKQHVVPXVWEHVSHFLILHGLQWKHRUGHU
7\SH&(1 7RQJXH
7\SH'(1 *URRYH
7\SH((1 6SLJRW
7\SH)(1 5HFHVV
% ))$60(%)ODWIDFH
    9HUVLRQ
9HUVLRQ9HUVLRQ
9HUVLRQ
 6WDQGDUGRUGHUVDQGRUGHUVIRUVROLGDSSOLFDWLRQVLQ&KLQD
 2UGHUVZLWK)&&UDGLRDSSURYDO)&&3DUWDQG566

$ 2UGHUVIRUOLTXLGDSSOLFDWLRQVLQ&KLQD
  $GDSWRU
$GDSWRU$GDSWRU
$GDSWRU
 :LWKRXW
$GDSWRUIRU%0 [IODQJHV\VWHP
 7$*1XPEHU
7$*1XPEHU7$*1XPEHU
7$*1XPEHU
 :LWKRXW
 7DJ1RVWDLQOHVVVWHHOSODWH
FKDUDFWHUVPD[
([WUDRSWLRQ
([WUDRSWLRQ([WUDRSWLRQ
([WUDRSWLRQ
 :LWKRXW
 1$&(GHVLJQ
05 05 ,62 
+HDWLQJ &RROLQJ

 3XUJH

3XUJH+HDWLQJ &RROLQJ

;)
;);)
;)       2UGHUFRGH
2UGHUFRGH2UGHUFRGH
2UGHUFRGH
)RUGHYLFHGLPHQVLRQVUHIHUWRWKH'LPHQVLRQVDQGZHLJKWVVHFWLRQ
)RUWKH33:DYH+RUQDQWHQQDRSWLRQRQO\
2WKHUIODQJHIDFHVDUHDYDLODEOH5HIHUWR\RXUORFDOVXSSOLHUIRUPRUHGDWD)ODQJHVZLWKWKH37)(:DYH+RUQDQWHQQDRSWLRQKDYHD
VOLSRQW\SHGHVLJQZLWKDQDQWLEORZRXWIHDWXUH
0LQLPXPIODQJHVL]HIRUWKH37)(:DYH+RUQDQWHQQD7KLVLVQRWDYDLODEOHIRUWKH0HWDOOLF+RUQDQWHQQD
7KLVIODQJHLVQRWDYDLODEOHIRUWKH37)(:DYH+RUQDQWHQQDRSWLRQ
)RU'1DQG'10HWDOOLF+RUQDQWHQQDRQO\

$33(1',;

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
2WKHUVSDUHSDUWV
)LJXUH2WKHUVSDUHSDUWV
&RYHUZLWKRXW/&'GLVSOD\
&RYHUIRU([ GPRGXOH
&RYHUZLWK/&'GLVSOD\
6HWRIIDVWHQHUVIRUKRXVLQJORFNVFUHZJDVNHWV
&DEOHJODQG
6LJQDOFDEOH1RQ([JUH\([EOXH
'$1*(5
5HPRWHYHUVLRQ0DNHVXUHWKDWUHSODFHPHQWVLJQDOFDEOHVIRU([DSSURYHGGHYLFHVDUHVXSSOLHG
E\WKHPDQXIDFWXUHU8VHRIWKLVVLJQDOFDEOHLVPDQGDWRU\
,WHP 'HVFULSWLRQ 4XDQWLW\ 3DUWUHIHUHQFH
+RXVLQJ
&RYHUZLWKRXW/&'GLVSOD\+0,DOXPLQLXP  ;)
&RYHUZLWKRXW/&'GLVSOD\+0,VWDLQOHVVVWHHO  ;)
&RYHUIRU([ GPRGXOHDOXPLQLXP

 ;)
&RYHUIRU([ GPRGXOHVWDLQOHVVVWHHO

 ;)
&RYHUZLWK/&'GLVSOD\(QJOLVK *HUPDQ )UHQFK ,WDOLDQ
DOXPLQLXP  ;)
&RYHUZLWK/&'GLVSOD\(QJOLVK *HUPDQ )UHQFK ,WDOLDQ
VWDLQOHVVVWHHO  ;)
&RYHUZLWK/&'GLVSOD\(QJOLVK 6SDQLVK )UHQFK 3RUWXJXHVH
DOXPLQLXP  ;)
&RYHUZLWK/&'GLVSOD\(QJOLVK 6SDQLVK )UHQFK 3RUWXJXHVH
VWDLQOHVVVWHHO  ;)
&RYHUZLWK/&'GLVSOD\(QJOLVK 5XVVLDQ &KLQHVH -DSDQHVH
DOXPLQLXP  ;)
&RYHUZLWK/&'GLVSOD\(QJOLVK 5XVVLDQ &KLQHVH -DSDQHVH
VWDLQOHVVVWHHO  ;)
6HWRIIDVWHQHUVIRUKRXVLQJORFNVFUHZJDVNHWV VFUHZJDVNHWV ;)
$33(1',;


237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
&DEOHJODQG FDEOHHQWU\
&DEOHJODQG 0SODVWLFEODFNQRQ([  ;)
&DEOHJODQG 0SODVWLFEOXH([ L  ;)
&DEOHJODQG 0QLFNHOSODWHGEUDVV([ G ;)
&DEOHJODQG 0VWDLQOHVVVWHHO([ G ;)
&DEOHJODQG 0QLFNHOSODWHGEUDVVQRQ([ ([ L ;)
&DEOHJODQG 0VWDLQOHVVVWHHOQRQ([ ([ L ;)
&DEOHHQWU\ ò137QLFNHOSODWHGEUDVVQRQ([ ([ L ;)
&DEOHHQWU\ ò137QLFNHOSODWHGEUDVV([ G ;)
&DEOHHQWU\ ò137QLFNHOSODWHGEUDVVF)0XV  ;)
&DEOHHQWU\ ò137VWDLQOHVVVWHHOQRQ([ ([ L ;)
&DEOHHQWU\ ò137VWDLQOHVVVWHHO([ G ;)
&DEOHHQWU\ ò137VWDLQOHVVVWHHOF)0XV  ;)
2SWLRQVIRUUHPRWHYHUVLRQ
6LJQDOFDEOH P  IWQRQ([JUH\

 ;)
6LJQDOFDEOH P  IWQRQ([JUH\

 ;)
6LJQDOFDEOH P  IWQRQ([JUH\

 ;)
6LJQDOFDEOH P  IWQRQ([JUH\

 ;)
6LJQDOFDEOH P  IWQRQ([JUH\

 ;)
6LJQDOFDEOH P  IW([EOXH

 ;)
6LJQDOFDEOH P  IW([EOXH

 ;)
6LJQDOFDEOH P  IW([EOXH

 ;)
6LJQDOFDEOH P  IW([EOXH

 ;)
6LJQDOFDEOH P  IW([EOXH

 ;)
([ GDSSURYHGGHYLFHVRQO\
)RUWKHUHPRWHYHUVLRQ
)RUWKHUHPRWHYHUVLRQ0DNHVXUHWKDWUHSODFHPHQWVLJQDOFDEOHVIRU([DSSURYHGGHYLFHVDUHVXSSOLHGE\WKHPDQXIDFWXUHU8VHRI
WKLVVLJQDOFDEOHLVPDQGDWRU\
,WHP 'HVFULSWLRQ 4XDQWLW\ 3DUWUHIHUHQFH

$33(1',;

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
$FFHVVRULHV
:HVXSSO\DFFHVVRULHVIRUWKLVGHYLFH:KHQ\RXVHQGDQRUGHUIRUDDFFHVVRULHVSOHDVHJLYHWKH
UHIHUHQFHQXPEHUVWKDWIROORZ
)LJXUH$FFHVVRULHV
+0,VHUYLFHWRRO
9LDWRU56 +$57FRQYHUWHU
9LDWRU86% +$57FRQYHUWHU
,WHP 'HVFULSWLRQ 4XDQWLW\ 3DUWUHIHUHQFH
+0,6HUYLFHWRRO(QJOLVK *HUPDQ )UHQFK ,WDOLDQ

 ;)
+0,6HUYLFHWRRO(QJOLVK 6SDQLVK )UHQFK 3RUWXJXHVH

 ;)
+0,6HUYLFHWRRO(QJOLVK 5XVVLDQ &KLQHVH -DSDQHVH

 ;)
+0,6HUYLFHWRRO(QJOLVK &]HFK 3ROLVK 7XUNLVK

 ;)[[[[[[
9LDWRU56 +$57FRQYHUWHU ;)
9LDWRU86% +$57FRQYHUWHU ;)
(0,5),VKLHOGLQJJDVNHW  ;)
,IWKHGHYLFHGRHVQRWKDYHWKH/&'GLVSOD\RSWLRQXVHWKLVDFFHVVRU\WRFKDQJHWKHGHYLFHFRQILJXUDWLRQ
$33(1',;


237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
*ORVVDU\
'
(
)
+
,
/
'HDG]RQH
'HDG]RQH'HDG]RQH
'HDG]RQH 1RQPHDVXUHPHQW]RQH
'LHOHFWULFFRQVWDQW
'LHOHFWULFFRQVWDQW'LHOHFWULFFRQVWDQW
'LHOHFWULFFRQVWDQW $QHOHFWULFDOSURSHUW\RIWKHSURGXFWWREHPHDVXUHGXVHGLQ5DGDU
PHDVXUHPHQW$OVRNQRZQDVHU'.DQGUHODWLYHSHUPLWWLYLW\'HILQHVWKH
VWUHQJWKRIWKHZDYHUHIOHFWHGEDFNWRWKHGHYLFHVVLJQDOFRQYHUWHU
'LVWDQFH
'LVWDQFH'LVWDQFH
'LVWDQFH 7KHGLVWDQFHIURPWKHIDFHRIIODQJHWRWKHOHYHOSURGXFWRUWKHVXUIDFH
RIWKHWRSSURGXFWRUPRUHSURGXFWV6HHWKHGLDJUDPVDWWKHHQGRIWKLV
VHFWLRQ
'URSDQWHQQD
'URSDQWHQQD'URSDQWHQQD
'URSDQWHQQD $QHZJHQHUDWLRQRIDQWHQQDPDGHRI33RU37)(,WKDVDQHOOLSVRLGDO
VKDSHIRUDPRUHSUHFLVHHPLVVLRQRIUDGDUVLJQDOV
'70
'70'70
'70 'HYLFH7\SH0DQDJHU$GULYHUIRUXVHLQWKH3$&7ZDUHSURJUDP$OOGDWD
DQGIXQFWLRQVRIWKHGHYLFHDUHLQFOXGHGLQLW
(OHFWURPDJQHWLFFRPSDWLELOLW\
(OHFWURPDJQHWLFFRPSDWLELOLW\(OHFWURPDJQHWLFFRPSDWLELOLW\
(OHFWURPDJQHWLFFRPSDWLELOLW\ 'HILQHVKRZPXFKDGHYLFHLQIOXHQFHVRULVLQIOXHQFHGE\RWKHUGHYLFHVWKDW
JHQHUDWHHOHFWURPDJQHWLFILHOGVGXULQJRSHUDWLRQ5HIHUWR(XURSHDQ
VWDQGDUG(1 IRUIXUWKHUGHWDLOV
)0&:
)0&:)0&:
)0&: )UHTXHQF\PRGXODWHGFRQWLQXRXVZDYHUDGDUWHFKQRORJ\7KHVLJQDOLV
FRQWLQXRXVO\SUHVHQWEXWWKHIUHTXHQF\LVPRGXODWHGXVXDOO\LQ
VXFFHVVLYHOLQHDUUDPSVRYHUWLPHIUHTXHQF\VZHHSV
+D]DUGRXVDUHD
+D]DUGRXVDUHD+D]DUGRXVDUHD
+D]DUGRXVDUHD $QDUHDZLWKDSRWHQWLDOO\H[SORVLYHDWPRVSKHUH7UDLQHGSHUVRQQHOFDQ
LQVWDOODQGXVHDGHYLFHLQWKLVDUHD7KHGHYLFHPXVWEHRUGHUHGZLWKWKH
DSSURSULDWHRSWLRQV7KHGHYLFHUHTXLUHVDSSURYDOV$7(;,(&([)0&6$
1(36,HWFUHODWHGWRVLWHVSHFLILFDWLRQV<RXFDQILQGPRUHGDWDDERXW
KD]DUGRXVDUHDVLQWKH([0DQXDOVDQG([&HUWLILFDWHVRI&RPSOLDQFH
+\JLHQLFDQWHQQD
+\JLHQLFDQWHQQD+\JLHQLFDQWHQQD
+\JLHQLFDQWHQQD $QDQWHQQDPDGHRIDPDWHULDOWKDWDJUHHVZLWK)'$UHJXODWLRQV,WFDQEH
VXSSOLHGZLWKFRPPRQK\JLHQLFSURFHVVFRQQHFWLRQRSWLRQV7UL&ODPS

%LR&RQWURO
606
,QWHUIHUHQFHVLJQDOV
,QWHUIHUHQFHVLJQDOV,QWHUIHUHQFHVLJQDOV
,QWHUIHUHQFHVLJQDOV )DOVHUDGDUUHIOHFWLRQV
/HYHO
/HYHO/HYHO
/HYHO +HLJKWIURPWKHERWWRPRIWKHWDQNXVHUGHILQHGWRWKHVXUIDFHRIWKHWRS
SURGXFW7DQNKHLJKW±GLVWDQFH6HHWKHGLDJUDPVDWWKHHQGRIWKLV
VHFWLRQ

$33(1',;

237,:$9(×&)
ZZZNURKQHFRP 0$237,:$9(5HQ
0
2
3
5
6
8
9
0DVV
0DVV0DVV
0DVV 7RWDOPDVVRIWDQNFRQWHQWV
2SHUDWRUV
2SHUDWRUV2SHUDWRUV
2SHUDWRUV 8VHUVZKRFDQFKRRVHKRZWRGLVSOD\PHDVXUHPHQWV7KH\FDQQRW
FRQILJXUHWKHGHYLFHLQVXSHUYLVRUPRGH
3$&7ZDUH
3$&7ZDUH3$&7ZDUH
3$&7ZDUH6RIWZDUHWKDWRSHUDWHVDQGFRQILJXUHVILHOGGHYLFHVIURPDUHPRWH
ZRUNVWDWLRQ,WLVQRWQHFHVVDU\WRXVHILHOGEXVVRIWZDUHRUSURJUDPV
GHYHORSHGE\WKHPDQXIDFWXUHU
5DGDUUHIOHFWLRQ
5DGDUUHIOHFWLRQ5DGDUUHIOHFWLRQ
5DGDUUHIOHFWLRQ 6LJQDOUHIOHFWHGIURPWKHVXUIDFHRIWKHWDQNFRQWHQWV
6LJQDOFRQYHUWHU
6LJQDOFRQYHUWHU6LJQDOFRQYHUWHU
6LJQDOFRQYHUWHU $VHWRIHOHFWURQLFFRPSRQHQWVLQWKHGHYLFHWKDWVHQGWKHPHDVXUHPHQW
VLJQDOWKURXJKVRPHVLJQDOILOWHUV
6XSHUYLVRU
6XSHUYLVRU6XSHUYLVRU
6XSHUYLVRU 8VHUVZKRFDQFRQILJXUHWKHGHYLFHLQVXSHUYLVRUPRGH7KH\FDQQRW
FRQILJXUHWKHGHYLFHLQVHUYLFHPRGH
8OODJHYROXPH
8OODJHYROXPH8OODJHYROXPH
8OODJHYROXPH 8QILOOHGYROXPH6HHWKHGLDJUDPVDWWKHHQGRIWKLVVHFWLRQ
9ROXPH
9ROXPH9ROXPH
9ROXPH 7RWDOYROXPHRIWDQNFRQWHQWV
$33(1',;


237,:$9(×&)
ZZZNURKQHFRP0$237,:$9(5HQ
)LJXUH0HDVXUHPHQWGHILQLWLRQVGLVWDQFH
'LVWDQFH
'HDG]RQH
)ODQJHIDFLQJ
*DV$LU
7DQNKHLJKW
8OODJHYROXPHRUPDVV
)LJXUH0HDVXUHPHQWGHILQLWLRQVOHYHO
/HYHO
9ROXPHRUPDVV
.52+1(±3URFHVVLQVWUXPHQWDWLRQDQGPHDVXUHPHQWVROXWLRQV
á
)ORZ
á
/HYHO
á
7HPSHUDWXUH
á
3UHVVXUH
á
3URFHVV$QDO\VLV
á
6HUYLFHV
+HDG2IILFH.52+1(0HVVWHFKQLN*PE+
/XGZLJ.URKQH6WU
'XLVEXUJ*HUPDQ\
7HO
)D[
LQIR#NURKQHFRP
k.52+1(0$237,:$9(5HQ6XEMHFWWRFKDQJHZLWKRXWQRWLFH
7KHFXUUHQWOLVWRIDOO.52+1(FRQWDFWVDQGDGGUHVVHVFDQEHIRXQGDW
ZZZNURKQHFRP

Navigation menu