86(5 0$18$/ ɊɍɄɈȼɈȾɋɌȼɈ ɉɈɅɖɁɈȼȺɌȿɅə &RORU 3ODVPD 7HOHYLVLRQ 0RGHO 1DPH 3' 7$ 7KLV LV WKH LPDJH RI WKH PRGHO 3' 7$ 'HVNWRS VWDQG VKRZQ DERYH LV RSWLRQDO 5($' 7+( ,16758&7,216 ,16,'( &$5()8//< .
(1*/,6+ 86(5 0$18$/ 7KDQN \RX IRU SXUFKDVLQJ WKH +LWDFKL 3ODVPD 7HOHYLVLRQ 3OHDVH UHDG WKLV XVHU PDQXDO FDUHIXOO\ EHIRUH RSHUDWLQJ WKLV SURGXFW 7R HQVXUH SURSHU RSHUDWLRQ SOHDVH UHDG DQG IROORZ $// WKH LQVWUXFWLRQV HVSHFLDOO\ WKH ,03257$17 6$)(7< ,16758&7,216 DQG 6$)(7< 35(&$87,216 3OHDVH NHHS WKLV XVHU PDQXDO IRU IXWXUH UHIHUHQFH
&217(176 ,03257$17 6$)(7< ,16758&7,216 ,1752'8&7,21 $ERXW 7KLV 0DQXDO 7UDGHPDUN &UHGLWV $ERXW 6RIWZDUH 6$)(7< 35(&$87,216 $ERXW WKH 6\PEROV &OHDQLQJ DQG 0DLQWHQDQFH $%287
7KDQN \RX IRU SXUFKDVLQJ WKH +LWDFKL 3ODVPD 7HOHYLVLRQ :H KRSH WKDW \RX ZLOO HQMR\ WKH JUHDW SHUIRUPDQFH ZLWK WKLV SURGXFW 7KLV 3ODVPD WHOHYLVLRQ KDV EHHQ GHVLJQHG WR PHHW WKH LQWHUQDWLRQDO VWDQGDUGV +RZHYHU LW FRXOG FDXVH SHUVRQDO LQMXULHV DQG SURSHUW\ GDPDJH LI LPSURSHUO\ KDQGOHG ,Q RUGHU WR SUHYHQW SRWHQWLDO GDQJHU DQG REWDLQ PD[LPXP EHQH¿W IURP \RXU VHW SOHDVH REVHUYH WKH IROORZLQJ LQVWUXFWLRQV ZKHQ LQVWDOOLQJ RSHUDWLQJ DQG FOHDQLQJ WKH SURGXFW .
6$)(7< 35(&$87,216 )RU \RXU VDIHW\ SOHDVH UHDG WKH IROORZLQJ SUHFDXWLRQV FDUHIXOO\ EHIRUH XVLQJ WKLV SURGXFW ,PSURSHU XVH ZRXOG FDXVH VHULRXV SHUVRQDO LQMXULHV DQG RU GDPDJH WR \RXU SURSHUW\ RU WKLV SURGXFW $ERXW WKH 6\PEROV 7KH IROORZLQJ DUH WKH V\PEROV XVHG LQ WKLV PDQXDO DQG DI¿[HG RQ WKH XQLW LWVHOI 3OHDVH IXOO\ XQGHUVWDQG WKH PHDQLQJV RI WKH V\PEROV EHIRUH UHDGLQJ WKH LQVWUXFWLRQV LQ WKLV VHFWLRQ :$51,1* 1HYHU LJQRUH WKH LQVWUXFWLRQ 7KHUH DUH ULVNV RI VHULRXV LQMXULHV RU SRVVLEOH GHDWK WR
(1*/,6+ 6$)(7< 35(&$87,216 FRQWLQXHG :$51,1* 7KHUH LV D ULVN RI ÀUH HOHFWULF VKRFN RU VHULRXV LQMXU\ ʄ ,QVWDOO WKH XQLW DW D SURSHU DUHD ZKHUH LW GRHV QRW H[SRVH DQ\RQH WR DQ\ GDQJHU ,I \RX KLW DJDLQVW WKH HGJH RI WKH XQLW \RX PD\ EH LQMXUHG ʄ 'R QRW SODFH DQ\ REMHFWV RQ WRS RI WKH XQLW 2EMHFWV VXFK DV /LTXLG FRQWDLQHUV YDVH ¿VK WDQN ÀRZHUSRW FRVPHWLFV RU OLTXLG PHGLFLQH ,I ZDWHU RU DQ\ OLTXLG VSLOO RQWR WKH XQLW LW PD\ FDXVH VKRUW FLUFXLW DQG UHVXOW LQ ¿UH RU HOHFWULFDO VKRFN ,Q FDV
6$)(7< 35(&$87,216 FRQWLQXHG &$87,21 ʄ 'R QRW SODFH WKH XQLW DW D GXVW\ SODFH ,W FRXOG FDXVH PDOIXQFWLRQ ʄ 'R QRW FRYHU RU EORFN DQ\ YHQWLODWLRQ KROHV RQ WKH SURGXFW 7KH XQLW ZRXOG RYHUKHDW DQG LW FRXOG FDXVH ¿UH RU GDPDJH WKH SURGXFW ZKLFK PD\ VKRUWHQ LWV VHUYLFH OLIH ,QVWDOO WKH SURGXFW LQ DFFRUGDQFH ZLWK WKH LQVWUXFWLRQV LQ WKLV PDQXDO 'R QRW SODFH WKH XQLW ZLWK YHQWLODWLRQ VLGH GRZQ 'R QRW LQVWDOO WKH XQLW RQ WKH FDUSHW RU EHGFORWKHV 'R QRW FRYHU WKH XQLW ZLWK WDEOH FORWK HWF ʄ %H VXUH WR
6$)(7< 35(&$87,216 FRQWLQXHG (1*/,6+ 35(&$87,216 ʄ 'R QRW LQVWDOO WKH XQLW DW DUHDV ZKHUH LW ZLOO EH VXEMHFWHG WR KLJK WHPSHUDWXUHV ,W FRXOG GDPDJH WKH FDELQHW RU SDUWV RI WKH SURGXFW 'R QRW LQVWDOO QHDU DQ\ KHDW VRXUFHV VXFK DV UDGLDWRUV KHDW UHJLVWHUV VWRYHV RU RWKHU DSSDUDWXV WKDW SURGXFH KHDW .
$%287 3/$60$ ',63/$< 3$1(/ ,PDJH 5HWHQWLRQ RI 3ODVPD 'LVSOD\ 7KH SODVPD GLVSOD\ KDV RQH RI FKDUDFWHULVWLFV WKDW UHVXOWV LQ SDQHO LPDJH UHWHQWLRQ GHSHQGLQJ RQ KRZ WKH SODVPD GLVSOD\ LV XVHG 7KH IROORZLQJ DUH WKH FRPPRQ UHDVRQV IRU DQG HIIHFWLYH SUHYHQWLYH PHDVXUHV DJDLQVW WKH LPDJH UHWHQWLRQ &KDUDFWHULVWLFV RI ,PDJH 5HWHQWLRQ ,PDJH UHWHQWLRQ LV FDXVHG E\ SDUWLDO GHJUDGLQJ WKH SKRVSKRU GXH WR WKH SDUWLDO GLVSOD\ RI FKDUDFWHU DQG ¿JXUH )RU H[DPSOH ZKHQ WKH FKDUDFWHUV DV VKRZQ LQ )LJ $ DUH GLVSOD\HG
)($785(6 (1*/,6+ (QMR\ QRW RQO\ EHDXWLIXO DQG KLJK TXDOLW\ SLFWXUHV RQ WKH GLVSOD\ EXW DOVR YDULRXV NLQGV RI XVHIXO DQG FRQYHQLHQW IXQFWLRQV LQ \RXU GDLO\ OLIH /DUJH VFUHHQ DQG KLJK GH¿QLWLRQ SODVPD GLVSOD\ (QMR\ KLJK UHVROXWLRQ GLVSOD\ ZLWK + [ 9 SL[HOV ,PSURYHG 'LJLWDO VLJQDO SURFHVVRU +LJK TXDOLW\ VRXQG ZLWK GHHSHU ULFKHU DQG G\QDPLF EDVV WRQHV $FFHSW PRUH GLJLWDO LQSXW GHYLFHV ZLWK +'0, WHUPLQDOV *UHDW GLYHUVLW\ RI FRQQHFWLQJ WHUPLQDOV WR FRYHU ZLGH UDQJH RI DXGLR YLVXDO
&20321(17 1$0(6 0DLQ 8QLW . &DELQHW 3 3DQHO $ 5HPRWH &RQWURO 5HFHLYHU / ,QGLFDWLQJ /DPS 1 0DLQ 3RZHU 6ZLWFK RQ WKH ERWWRP VXUIDFH 4 &RQWURO 3DQHO DQG )URQW ,QSXW VHH EHORZ IRU GHWDLOV 2 'HVNWRS 6WDQG RSWLRQ ( 6SHDNHU )URQW 3DQHO . 3 ( 4 2 / 1 $ 5HDU 3DQHO . 7HUPLQDO %RDUG ([WHUQDO 'HYLFH &RQQHFWLRQ 3 3RZHU &RUG 6RFNHW $ +DQGJULSV / 0RWRU )DQ / $ 3 3OHDVH UHIHU WR a IRU WKH GHWDLOHG LQIRUPDWLRQ IRU WKH FRQQHFWLRQV .
5HPRWH &RQWURO . * 3 $ / + 1 4 2 ( , " 0 # % & ' ) . 6XE 3RZHU 3 )XQFWLRQ 6HOHFW 79 '9' 67% 3UHVV WKLV EXWWRQ WR VHOHFW IXQFWLRQ PRGH LQGLFDWLQJ /(' ODPS 1RUPDOO\ VHOHFW ³79´ $ ,QSXW 6HOHFW '9' &RQWURO 3UHVV WKLV EXWWRQ WR FKDQJH LQSXW PRGH ,Q DGGLWLRQ \RX FDQ XVH WKHVH EXWWRQV ZKLOH RSHUDWLQJ WKH VHOHFWHG EUDQG RI '9' SOD\HU / 0HQX 1 &XUVRU 4 2.
35(3$5$7,21 5HPRWH &RQWURO %DWWHULHV ,QVWDOODWLRQ 7KLV UHPRWH FRQWURO RSHUDWHV RQ ³$$´ EDWWHULHV 2SHQ WKH EDWWHU\ FRPSDUWPHQW FRYHU +DQGOLQJ WKH 5HPRWH &RQWURO 8VH WKH UHPRWH FRQWURO ZLWKLQ DERXW P IURP IURQW RI WKH XQLW¶V UHPRWH FRQWURO VHQVRU DQG ZLWKLQ GHJUHHV RQ ERWK VLGHV 6OLGH RSHQ WKH EDWWHU\ FRPSDUWPHQW FRYHU RQ WKH EDFNVLGH RI WKH UHPRWH FRQWURO LQ WKH GLUHFWLRQ RI DQ DUURZ ,QVWDOO WKH EDWWHULHV ,QVWDOO ³$$´ EDWWHULHV LQFOXGHG PDNLQJ VXUH WKH SRODULWLHV PDWFK WK
35(3$5$7,21 FRQWLQXHG (1*/,6+ 6DIHW\ 3UHFDXWLRQ RQ 0DLQ 8QLW ,QVWDOODWLRQ 5HDG 6$)(7< 35(&$87,216 WR FDUHIXOO\ EHVLGHV WKLV SDJH :KHQ LQVWDOOLQJ WKH XQLW XVH WKH RSWLRQDO 'HVNWRS 6WDQG 6' * 3OHDVH UHIHU WR WKH XVHU PDQXDO RI WKH VWDQG 7KH 'HVNWRS 6WDQG 2SWLRQ KDV EHHQ XVHG IRU WKH LOOXVWUDWLRQ LQ WKLV PDQXDO :KHQ LQVWDOOLQJ WKH PDLQ XQLW EH VXUH WR XVH WKH VSHFL¿HG PRXQW XQLWV LQ RUGHU WR REWDLQ PD[LPXP SHUIRUPDQFH DQG PDLQWDLQ WKH VDIHW\ :H DVVXPH QR UHVSRQVLELOLW\ RU OLDEL
&211(&7,21 7HUPLQDO 3RVLWLRQV 5HDU 3 $/142 " ( " !,$ /2+"-* !.% 0.!$%+!.)/ -& !"/ ,# ! (#%,/%$ "2 -1,$ ,# 1,$%. !,$ !,$ /2+"-* !.% .%'(/0%.%$ 0.!$%+!.
&211(&7,21 FRQWLQXHG (1*/,6+ &RQQHFWLQJ 3URFHGXUH FRQWLQXHG &RQQHFWLQJ WR ([WHUQDO (TXLSPHQW 7HUPLQDOV RQ 5HDU $9 DQG $9 FDQ EH FRQQHFWHG WR WKH HTXLSPHQW ZLWK HLWKHU &RPSRQHQW RU &RPSRVLWH RXWSXW 'HSHQGLQJ RQ ZKHWKHU WKH < 9,'(2 LQSXW RI \RXU VHOHFWHG HTXLSPHQW LV < VLJQDO RU 9LGHR VLJQDO LW DXWRPDWLFDOO\ UHJDUGV DV &RPSRQHQW RU &RPSRVLWH :KHQ XVLQJ DV &RPSRVLWH GR QRW LQVHUW WKH MDFNV LQWR 3% RU 35 >([DPSOH@ ,1 287 ,I \RXU H[WHUQDO GHY
&211(&7,21 FRQWLQXHG &RQQHFWLQJ 3URFHGXUH FRQWLQXHG 3& WHUPLQDO ' VXE SLQ 3& 5*% +'0, $QDORJ $XGLR ,QSXW WHUPLQDO DUH FRQQHFWHG WR 3& ZKLFK DOORZV $QDORJ 5*% VLJQDO ,1 287 >([DPSOH@ RU +'0, WHUPLQDOV FDQ EH FRQQHFWHG WR WKH GHYLFHV ZLWK +'0, RXWSXW ,I WKH H[WHUQDO GHYLFH KDV '9, RXWSXW WKLV FDQ EH DYDLODEOH ZLWK +'0, '9, FDEOH ,Q FDVH RI XVLQJ WKH +'0, '9, FDEOH FRQQHFW DQDORJ DXGLR VLJQDO WR 3& 5*% +'0, $QDORJ $XGLR ,QSXW WHUPLQDO ,1 >([DPSOH@ 287
&RQQHFWLQJ 3URFHGXUH FRQWLQXHG 7HUPLQDOV RQ )URQW 6LQFH WKH IROORZLQJ WHUPLQDOV DUH ORFDWHG RQ WKH IURQW LW LV YHU\ FRQYHQLHQW WR FRQQHFW DQ H[WUD GHYLFH RQ D WHPSRUDU\ EDVLV DIWHU FRPSOHWLQJ WKH FRQQHFWLRQV RQ WKH UHDU SDQHO $9 FDQ EH FRQQHFWHG WR WKH HTXLSPHQW ZLWK 6 9LGHR RXWSXW DQG FRPSRVLWH RXWSXW >([DPSOH@ 287 ! ! ,1 ,I \RXU H[WHUQDO GHYLFH KDV 6 YLGHR WHUPLQDO 6 9,'(2 FRQQHFWLRQ LV UHFRPPHQGHG IR
&211(&7,21 FRQWLQXHG &RQQHFWLQJ 3URFHGXUH FRQWLQXHG &RQQHFWLQJ WKH SOXJ LQWR WKH ZDOO VRFNHW &RQQHFW WKH 3RZHU &RUG DIWHU FRPSOHWLQJ DOO RWKHU FRQQHFWLRQV 7KH W\SH RI SOXJ LV GLIIHUHQW IURP WKLV GUDZLQJ IRU VRPH FRXQWULHV &$87,21 8VH RQO\ WKH 3RZHU &RUG SURYLGHG 'R QRW XVH D SRZHU VXSSO\ YROWDJH RWKHU WKDQ WKDW LQGLFDWHG $& 9 +] ,W PD\ FDXVH ¿UH RU HOHFWULF VKRFN )RU WKH SODVPD WHOHYLVLRQ D WKUHH FRUH SRZHU FRUG ZLWK D JURXQG WHUPLQDO LV XVHG IRU HI¿FLHQF\ SURWHFWLRQ $OZD\V EH
%$6,& 23(5$7,21 (1*/,6+ 3RZHU 2Q 2II 1RZ WXUQ 2Q WKH PDLQ SRZHU WR WKH XQLW 0DNH VXUH WKDW WKH 3RZHU &RUG KDV SOXJJHG LQWR WKH ZDOO VRFNHW 7R WXUQ 2Q WKH SRZHU RI WKH XQLW 3UHVV WKH 0DLQ 3RZHU VZLWFK RQ WKH XQLW 7KH ,QGLFDWLQJ /DPS ZLOO LOOXPLQDWHV LQ 5HG 6WDQGE\ PRGH 0DLQ 3RZHU VZLWFK RQ WKH ERWWRP VXUIDFH 6XE 3RZHU EXWWRQ 3UHVV 6XE 3RZHU EXWWRQ HLWKHU RQ WKH FRQWURO SDQHO RU RQ WKH UHPRWH FRQWURO 7KH FRORU RI WKH ,QGLFDWLQJ /DPS WXUQV LQWR *UHHQ DQG WKH LPDJH ZLOO GLVSOD\ R
%$6,& 23(5$7,21 FRQWLQXHG )LUVW 7LPH 6HWXS :KHQ \RX WXUQ 21 WKH 79 IRU WKH ¿UVW WLPH \RXU 79 DXWRPDWLFDOO\ OHDGV WR WKH VHWWLQJV RI ³/DQJXDJH´ DQG ³$XWR 7XQLQJ ´ 7KH ¿UVW VFUHHQ DSSHDUHG ZLOO DVN \RX WR FKRRVH WKH ODQJXDJH RI \RXU 79¶V GLVSOD\ 6HOHFW WKH ODQJXDJH \RX SUHIHUUHG IURP WKH OLVW DQG SUHVV EXWWRQ ޓޓޓޓޓ ޓޓޓޓޓޓਛᢥ ❥ޓޓޓޓޓ㜚ਛᢥ ޓޓޓޓޓ ޓޓޓޓޓ 2QFH VHOHFWLQJ WKH ODQJXDJH ³$XWR 7XQLQJ´ VFUHHQ DSSHDU
%$6,& 23(5$7,21 FRQWLQXHG (1*/,6+ ,QSXW 6ZLWFKLQJ WR 79 $9 a +'0, DQG 5*% ,QSXW 6HOHFW EXWWRQV %\ SUHVVLQJ ,QSXW 6HOHFW EXWWRQ \RX FDQ VZLWFK WKH LQSXW 7R ZDWFK DFWXDO EURDGFDVW SUHVV ,QSXW 6HOHFW EXWWRQ RQ WKH FRQWURO SDQHO WKH QXPHULF EXWWRQV RU &KDQQHO 8S 'RZQ EXWWRQ RQ WKH UHPRWH FRQWURO 7R GLVSOD\ WKH LPDJH RXWSXWWLQJ IURP WKH H[WHUQDO HTXLSPHQWV FRQQHFWHG WR HDFK WHUPLQDO 79 $9 a +'0, DQG 5*% VHOHFW FRUUHVSRQGLQJ PRGH 3UHVV ,QSXW 6HOHFW EXWWRQV RQ WKH UHPRWH FRQWURO &
0(18 23(5$7,21 +RZ WR XVH WKH 2Q 6FUHHQ 'LVSOD\ 26' V\VWHP :LWK WKH 2Q 6FUHHQ 'LVSOD\ V\VWHP \RX FDQ DFFHVV WKH YDULRXV NLQGV RI WKH IHDWXUHV DQG IXQFWLRQV LQ WKLV SURGXFW %DVLF 2SHUDWLRQ 3UHVV EXWWRQ RQ WKH UHPRWH FRQWURO RU 0HQX EXWWRQ RQ WKH FRQWURO SDQHO RI WKH XQLW 7KH 0DLQ 0HQX LV GLVSOD\HG RQ WKH VFUHHQ DV VKRZQ RQ WKH ULJKW 7R VHOHFW WKH LWHP SUHVV EXWWRQ 7KH VHOHFWHG LWHP ZLOO EH KLJKOLJKWHG LQ *UHH
0(18 23(5$7,21 FRQWLQXHG (1*/,6+ 6HWXS 0HQX 79 PRGH :LWK WKLV PHQX \RX FDQ DFFHVV YDULRXV NLQGV RI IHDWXUHV UHODWLQJ WR 79 FKDQQHO VHWWLQJV 6HOHFWHG ,WHPV 6HWXS KLQW 3RVLWLRQ 0RGH $XWR 7XQLQJ 'LUHFW 6HOHFW WKH ZD\ WR GLVSOD\ WKH FKDQQHOV RQ WKH VFUHHQ EHWZHHQ ³ ´ ³ ´ ³ ´ DQG $9 E\ XVLQJ EXWWRQ ³ ´ LV IRU GLJLWV FKDQQHO VHOHFWLRQ ³ ´ LV IRU GLJLWV FKDQQ
0(18 23(5$7,21 FRQWLQXHG 6HWXS 0HQX 79 PRGH FRQWLQXHG 6HOHFWHG ,WHPV 6HWXS KLQW $XWR 3$/ &RORU 6\VWHP 6(&$0 6HOHFW FRORU V\VWHP IURP GLIIHUHQW PRGHV 176& 176& 0DQXDO 7XQLQJ 2II 6NLS 2Q 2II 2Q 15 )LQH 7XQLQJ ,W DOORZV \RX WR VNLS XQUHJLVWHUHG FKDQQHOV DXWRPDWLFDOO\ ZKHQ \RX XVH FKDQQHO XS GRZQ EXWWRQV WR VHOHFW FKDQQHOV 7KLV IXQFWLRQ ZLOO DXWRPDWLFDOO\ VNLS XQDYDLODEOH FKDQQHOV ZKHQ VHW WR RQ 7KH QRLVH RQ WKH VFUHHQ RU LQWHUIHUHQFH FRXOG EH UHGXFHG HVSHFLDOO\ DW WKH
0(18 23(5$7,21 FRQWLQXHG (1*/,6+ 6HWXS 0HQX $9 PRGH :LWK WKLV PHQX \RX FDQ VHOHFW RU DGMXVW WKH FRQGLWLRQ RI WKH LQSXW VLJQDOV IURP HDFK WHUPLQDO 6HOHFWHG ,WHPV 6HWXS KLQW 'R QRW FKDQJH WKH RULJLQDO VHWWLQJ 6\VWHP (XURSH $VLD 6\VWHP 6RXWK $PHULFD &RPSRVLWH DQG 6 YLGHR LQSXW RQO\ 6\VWHP 6\VWHP 6\VWHP $XWR 3$/ 6\VWHP &RORU 6\VWHP 6(&$0 176& 176& $9 a$9 3$/ $XWR 6\VWHP 176& 0 6HOHFW WKH F
0(18 23(5$7,21 FRQWLQXHG 6HWXS 0HQX 5*% PRGH :LWK WKLV PHQX \RX FDQ DGMXVW WKH GLVSOD\ FRQGLWLRQ RI WKH LPDJH ZKLFK LV LQSXWWLQJ IURP WKH 5*% WHUPLQDOV %\ SUHVVLQJźEXWWRQ DW WKH ERWWRP RI WKH VW 6HWXS PHQX SDJH WKH QG 6HWXS PHQX SDJH ZLOO DSSHDU RQ WKH VFUHHQ 6HOHFWHG ,WHPV
0(18 23(5$7,21 FRQWLQXHG (1*/,6+ )XQFWLRQ 0HQX 7KLV PHQX SURYLGHV YDULRXV ZD\V WR SURWHFW \RXU SDQHO UHGXFH SRZHU FRQVXPSWLRQ DQG VHW XS XWLOL]LQJ WKH XVHIXO IXQFWLRQV VXFK DV )UHH]H 0RGH ! " # " $ ! ! $ ! 6HOHFWHG ,WHPV 6FUHHQ 6DYHU 6FUHHQ :LSH 6HWXS KLQW 2II 0LQ 0LQ 0L
0(18 23(5$7,21 FRQWLQXHG )XQFWLRQ 0HQX FRQWLQXHG 6HOHFWHG ,WHPV 6HWXS KLQW 3LFWXUH 6L]H 5HVHW ,Q FDVH WKDW WKH LPDJH IURP 79 VLJQDO HVSHFLDOO\ &$79 KDV D EODFNHQHG JDS LQ HLWKHU RU ERWK VLGH GXULQJ 3DQRUDPLF PRGH VHOHFW > @ VR WKDW LW FDQ PDNH XS IRU WKH JDS 7KLV LV QRW DYDLODEOH ZKHQ GLVSOD\LQJ ³&LQHPD´ VL]H 7KLV LV QRW DYDLODEOH H[FHSW 5) FRPSRVLWH DQG FRPSRQHQW L L LQSXW JUD\ RXW (DFK LWHP RQ WKLV PHQX VFUHHQ FDQ EH UHVWRUHG WR WKH RULJLQDO IDFWRU\ VHWWLQJV E\ SUHVVLQJ
0(18 23(5$7,21 FRQWLQXHG (1*/,6+ 3LFWXUH 0HQX 79 $9 PRGH ,Q WKLV PHQX \RX FDQ PDNH VSHFL¿F DGMXVWPHQWV IRU WKH SLFWXUH EDVHG RQ \RXU SUHIHUHQFH %\ SUHVVLQJ źEXWWRQ DW WKH ERWWRP RI HDFK PHQX SDJH WKH QH[W 3LFWXUH PHQX SDJH ZLOO DSSHDU RQ WKH VFUHHQ ! ! " # !
0(18 23(5$7,21 FRQWLQXHG 3LFWXUH 0HQX 79 $9 PRGH FRQWLQXHG 6HOHFWHG ,WHPV 6HWXS KLQW 2II ' &RORU 0DQDJHPHQW 2Q %ODFN (QKDQFHPHQW '15 03(* 15 2II /RZ 0LGGOH +LJK 2II /RZ 0LGGOH +LJK 2II /RZ +LJK 2II )LOP 0RGH 2Q 2II ' &RPE )LOWHU /RZ 0LGGOH +LJK 5HVHW 2Q ,W DXWRPDWLFDOO\ DGMXVWV WKH VXLWDEOH WLQW FRORU GHQVLW\ DQG EULJKWQHVV RQ LPDJHV 2II 6HW LW RII LI WKH LPDJH GRHV QRW ORRN QDWXUDO $GMXVWV WKH EODFN OHYHO FRPSHQVDWLRQ 7KLV LV D QRLVH UHGXFWLRQ V\VWHP IRU SLFWXUH VLJQDO
0(18 23(5$7,21 FRQWLQXHG 6HOHFWHG ,WHPV 6HWXS KLQW $PSOLWXGH 5HG *UHHQ &RORU 7HPS $GMXVW (1*/,6+ 3LFWXUH 0HQX 79 $9 PRGH FRQWLQXHG 2Q %OXH &XW RII 5HG *UHHQ %OXH 2Q :KHQ \RX ZDQW WR VHW VSHFL¿F DGMXVWPHQWV LQ HDFK RI WKH &RORU 7HPSHUDWXUH PRGHV
0(18 23(5$7,21 FRQWLQXHG 3LFWXUH 0HQX 5*% PRGH ,Q WKLV PHQX \RX FDQ PDNH VSHFL¿F DGMXVWPHQWV IRU WKH 5*% SLFWXUH EDVHG RQ \RXU SUHIHUHQFH !" ! ! ! # ! !" " ! ! ! ! ! !" 6HOHFWHG ,WHPV &RQWUDVW 6HWXS KLQW a a %ULJKWQHVV a $GMXVW DFFRUGLQJ WR SHUVRQDO SUHIHUHQFH E\ XVLQJ EXWWRQ &RORU a $GMXVW DFFRUGLQJ WR SHUVRQDO SUHIHUH
0(18 23(5$7,21 FRQWLQXHG 6HOHFWHG ,WHPV 6HWXS KLQW $PSOLWXGH 5HG *UHHQ &RORU 7HPS $GMXVW 2Q (1*/,6+ 3LFWXUH PHQX 5*% PRGH FRQWLQXHG %OXH &XW RII 5HG *UHHQ %OXH 2Q :KHQ \RX ZDQW WR VHW VSHFL¿F DGMXVWPHQWV LQ HDFK RI WKH &RORU 7HPSHUDWXUH PRGHV
0(18 23(5$7,21 FRQWLQXHG $XGLR 0HQX :LWK WKLV PHQX \RX FDQ DGMXVW DQG FXVWRPL]H WKH DXGLR FRQGLWLRQ DV \RX OLNH
0(18 23(5$7,21 FRQWLQXHG (1*/,6+ 7LPHU 0HQX 7KLV DOORZV WKH XQLW WR WXUQ 2II 6WDQGE\ PRGH RU 2Q DW VHW WLPH DXWRPDWLFDOO\ ZKLFK \RX PD\ ¿QG XVHIXO 6HOHFWHG ,WHPV 6HWXS KLQW 0LQ 0LQ 2II 7LPHU 0LQ 7KLV IXQFWLRQ DXWRPDWLFDOO\ VHWV WKH SRZHU WR 6WDQGE\ PRGH ZKHQ WKH VHOHFWHG WLPH SHULRG KDV HODSVHG 0LQ 0LQ 2Q 7LPHU 7KLV IXQFWLRQ DXWRPDWLFDOO\ VHWV WKH SRZHU IURP VWDQGE\ PRGH
)81&7,21 $ERXW 7HOHWH[W :KDW LV ´7HOHWH[Wµ 7HOHWH[W LV WKH ZULWWHQ LQIRUPDWLRQ VHUYLFHV SURYLGHG E\ HDFK 79 FKDQQHO 0RVW 79 FKDQQHOV SURYLGH LQIRUPDWLRQ YLD 7HOHWH[W VXFK DV 79 SURJUDP VFKHGXOH :HDWKHU IRUHFDVWV 6SRUWV UHVXOWV 1HZVÀDVK +RZ WR RSHUDWH WKH 7HOHWH[W
)81&7,21 FRQWLQXHG (1*/,6+ 6L]H 6ZLWFKLQJ (DFK WLPH EXWWRQ RI WKH UHPRWH FRQWURO LV SUHVVHG WKH VFUHHQ GLVSOD\ VL]H LV VZLWFKHG LQ VHTXHQFH DQG WKH VWDWXV ZLOO EH GLVSOD\HG DW WKH ERWWRP RI WKH VFUHHQ 79 $9 VLJQDO LQSXW =220 EXWWRQ :DWFKLQJ 6WDQGDUG 'HÀQLWLRQ 3LFWXUHV L S L S 79 $9 $9 $9 $9 +'0, +'0, :DWFKLQJ +LJK 'HÀQLWLRQ 3LFWXUHV S L S +'0, RQO\ $9 $9 +'0, +'0,
)81&7,21 FRQWLQXHG 6L]H 6ZLWFKLQJ FRQWLQXHG 79 $9 VLJQDO LQSXW FRQWLQXHG 3RVLWLRQ $GMXVWPHQW 9HUWLFDO SLFWXUH SRVLWLRQ FDQ EH DGMXVWHG IRU 3DQRUDPLF =RRP &LQHPD DQG )XOO PRGH DV IROORZV 3UHVV EXWWRQ ZKLOH RSHUDWLQJ WKH SLFWXUH VL]H GLVSOD\ ³3RVLWLRQ´ GLVSOD\ ZLOO DSSHDU $GMXVW WKH SRVLWLRQ E\ EXWWRQ $GMXVWPHQW UDQJH RI HDFK SLFWXUH VL]H DUH DV VKRZQ EHORZ 'LVSOD\ 6L]H 3DQRUDPLF =RRP &LQHPD )XOO $GMXVWDEOH 5DQJH a a &RQGLWLRQ 5HPDUN &RPSRQH
)81&7,21 FRQWLQXHG (1*/,6+ 6L]H 6ZLWFKLQJ FRQWLQXHG 5*% VLJQDO LQSXW
)81&7,21 FRQWLQXHG 3LFWXUH )UHH]LQJ %\ SUHVVLQJ EXWWRQ \RX FDQ FKDQJH WR IUHH]H PRGH HDVLO\ DQ\WLPH \RX OLNH 3UHVV LW DJDLQ WR UHWXUQ WR QRUPDO SLFWXUH )5((=( EXWWRQ 7KHUH DUH WZR W\SHV RI IUHH]H PRGH
$XGLR 6ZLWFKLQJ 1,&$0 6RXQG 0XOWLSOH[ LQFOXGLQJ $ 79 PRGH
)81&7,21 FRQWLQXHG 3RZHU 6DYH 0RGH :KHQ $9 LQSXW LV VHOHFWHG
)81&7,21 FRQWLQXHG (1*/,6+ '9' 3OD\HU 67% 6HOHFWLRQ
7528%/(6+227,1* %HIRUH FDOOLQJ VHUYLFH WHFKQLFLDQ FKHFN WKH IROORZLQJ WDEOHV ¿UVW ,I WKH SUREOHP LV QRW EH VROYHG ZLWK WKH VXJJHVWHG SURFHGXUHV FRQWDFW \RXU ORFDO GHDOHU )RU \RXU VDIHW\ 1(9(5 WU\ WR UHSDLU WKH SURGXFW E\ \RXUVHOI :KHQ )ROORZLQJ 0HVVDJHV $SSHDU RQ WKH 6FUHHQ 0HVVDJH &RQGLWLRQ $FWLRQ 3DJH 3RZHU 6DYH 7KLV LQGLFDWHV LW LV LQ 3RZHU 6DYH PRGH LQ $9 5*% PRGH 7KH LQGLFDWLQJ ODPS OLJKWV LQ RUDQJH 1R 6\QF 6LJQDO 7KH XQLW FDQQRW GHWHFW DQ\ VLJQDOV IURP DQ\ LQSXW WHUPLQDOV
7528%/(6+227,1* FRQWLQXHG 6\PSWRPV &KHFN OLVW 3DJH ,PDJH LV SDXVHG &KHFN LI WKH 79 LV LQ IUHH]H PRGH E\ SUHVVLQJ 1R SLFWXUH 7KH ,QGLFDWLQJ ODPS ĺ 2II &KHFN LI WKH 3RZHU &RUG LV SOXJJHG LQWR WKH VRFNHW ¿UPO\ &KHFN LI WKH 0DLQ 3RZHU LV 21 1R SLFWXUH 7KH ,QGLFDWLQJ ODPS ĺ 2UDQJH ,W PHDQV WKDW WKH XQLW LV LQ ³3RZHU 6DYH PRGH´ &KHFN LI DOO WKH FDEOHV RI WKH H[WHUQDO HTXLSPHQWV DUH FRQQHFWHG FRUUHFWO\ DQG ¿UPO\ &KHFN LI WKH SRZHU RI WKH H[WHUQDO HTXLSPHQWV LV 21 &KHFN LI WKH 79 $9 PRG
7528%/(6+227,1* FRQWLQXHG 6\PSWRP DQG &KHFN /LVW FRQWLQXHG 6\PSWRPV &KHFN OLVW 7KH LPDJH RQ WKH VFUHHQ LV PRYLQJ LQ DQ REOLTXH GLUHFWLRQ 3& LQSXW PRGH RQO\ $GMXVW ³+RUL]RQWDO &ORFN´ DQG ³&ORFN 3KDVH´ 7KH FRDUVH KRUL]RQWDO VWULSHV FRXOG EH VHHQ LQ IXOO GLVSOD\ PRGH 3& LQSXW PRGH RQO\ $GMXVW ³+RUL]RQWDO &ORFN´ 7KH SDUW RI WKH LPDJH LV ODFNLQJ 3& LQSXW PRGH RQO\ 7KH KRUL]RQWDO VWULSHV DUH PRYLQJ YHUWLFDOO\ ZLWK ÀLFNHULQJ VFUHHQ 3& LQSXW PRGH RQO\ :KHQ WKH FKDUDFWHUV DUH
(1*/,6+ 352'8&7 63(&,),&$7,216 63(&,),&$7,21 3DQHO 'LVSOD\ GLPHQVLRQV $SSUR[ LQFKHV + [ 9 PP GLDJRQDO PP 5HVROXWLRQ + [ 9 SL[HOV LQFOXGLQJ 2SWLRQDO 6WDQG : [ + [ ' PP 1HW GLPHQVLRQV H[FOXGLQJ 2SWLRQDO 6WDQG : [ + [ ' PP LQFOXGLQJ 2SWLRQDO 6WDQG NJ H[FOXGLQJ 2SWLRQDO 6WDQG NJ 1HW ZHLJKW $PELHQW FRQGLWLRQV 7HPSHUDWXUH 2SHUDWLQJ & WR & 6WRUDJH & WR & 5HODWLYH KXPLGLW\ 2SHUDWLQJ WR 6WRU
352'8&7 63(&,),&$7,216 FRQWLQXHG 6LJQDO ,QSXW 5*% WHUPLQDO ' VXE SLQ FRQQHFWRU 3LQ ,QSXW VLJQDO 5 * % 1R FRQQHFWLRQ 1R FRQQHFWLRQ 5 *1' * *1' % *1' 1R FRQQHFWLRQ *1' 1R FRQQHFWLRQ >6'$@ + V\QF 9 V\QF >9 &/.
352'8&7 63(&,),&$7,216 FRQWLQXHG (1*/,6+ 5HFRPPHQGHG 6LJQDO /LVW :LWK +'0, LQSXW 6LJQDO PRGH 1R 6LJQDO 1DPH 9*$ L L S S L L S S S S 5HVROXWLRQ 9HUWLFDO IUHTXHQF\ +] +RUL]RQWDO IUHTXHQF\ N+] 'RW FORFN IUHTXHQF\ 0+] ; ; ; ; ; ; ; ; ; ; ;