8QGHUVWDQGLQJWKH6HDPOHVV6ZLWFKHU6FDOHU
8QGHUVWDQGLQJWKH3,3%XWWRQ)HDWXUH
7KH3LFWXUHLQ3LFWXUHLQVHUWHU3,3LVXVHGIRUWKHVLPXOWDQHRXVGLVSOD\RI YLGHRDQGJUDSKLFVRXUFHVDQGOHWV\RXGLVSOD\
x $QLQVHUWHGYLGHRVRXUFH3,3RYHUDJUDSKLFVRXUFHGLVSOD\ x $QLQVHUWHGJUDSKLFVRXUFH3,3RYHUDYLGHRVRXUFHGLVSOD\
<RXU6HDPOHVV6ZLWFKHU6FDOHUDXWRPDWLFDOO\UHFRJQL]HVDQGGLVSOD\VRQO\ WKHUHOHYDQWVRXUFHVDVWKHIROORZLQJH[DPSOHVLOOXVWUDWH
x &KRRVLQJWKH$93,3VRXUFHZKHQWKH9*$LQSXWLVVHOHFWHGZLOO LQVHUWWKHFRPSRVLWHYLGHRVRXUFHRYHUWKH9*$JUDSKLFGLVSOD\HG RQWKH VFUHHQ<RXFDQFKRRVHDFRPSRQHQW<&<&RU$93,3VRXUFH LQVWHDGRIWKH$9<RXFDQQRWFKRRVH9*$9*$RU'9,
x &KRRVLQJWKH9*$3,3VRXUFHZKHQWKH$9LQSXWLVVHOHFWHGZLOO LQVHUWWKH9*$JUDSKLFVRXUFHRYHUWKHFRPSRVLWHYLGHRGLVSOD\HGRQWKH VFUHHQ<RXFDQFKRRVHD'9,3,3VRXUFHLQVWHDGRIWKH9*$<RX FDQQRWFKRRVH$9<&<&RUFRPSRQHQW
$FWLYDWLQJWKH3,3)HDWXUH
7RDFWLYDWHWKH3,3ZKLFKLOOXPLQDWHVWKH3,3/('GRRQHRIWKHIROORZLQJ x 3UHVVWKH3,3EXWWRQ
x 6ZLWFKRQWKH3,3IXQFWLRQDOLW\YLDWKH26'0HQXVHH )LJXUH
x 3UHVVWKH3,3NH\RQWKHLQIUDUHGUHPRWHFRQWUROWUDQVPLWWHUVHH)LJXUH
:KHQWKH6RXUFH3URPSWLV21VHH)LJXUHWKH3,3LVHQFORVHGE\DQ RUDQJHIUDPHDQGWKH26'3,3VWDWXVDSSHDUVVXSHULPSRVHGRYHUWKHWRS ULJKWFRUQHURIWKHVFUHHQIRUDIHZVHFRQGVDV )LJXUHLOOXVWUDWHV$IWHUD IHZVHFRQGVWKHRUDQJHIUDPHDQGWKH26'3,3VWDWXVDXWRPDWLFDOO\ GLVDSSHDU
$FWLYDWLQJWKH3,3VXEVHTXHQWO\F\FOHVEHWZHHQWKH3,3ZLWKWKHRUDQJH IUDPHDQGQR3,3
7KDWLVFRPSRVLWHV9LGHRRUFRPSRQHQW 7KDWLV'9,RU9*$
$VORQJDVLWLVFRQQHFWHGDQGVZLWFKHGRQ2WKHUZLVHFKRRVLQJLWZLOOGLVSOD\DEODQNVFUHHQ $VWKHVHDUHJUDSKLFVVRXUFHVDQG\RXFDQQRWLQVHUWDJUDSKLFV3,3RYHUDJUDSKLFVVRXUFH $VWKHVHDUHYLGHRVRXUFHVDQG\RXFDQQRWLQVHUWDYLGHR3,3RYHUDYLGHRVRXUFH ,WHPLQ)LJXUH
%\GHIDXOWVHFRQGV%XW\RXFDQUHVHWWKHWLPHRXWIURPWRVHFRQGVVHHVHFWLRQ
7U\LQJWRDFWLYDWHWKH3,3DJDLQZKLOHWKH3,3LVVWLOOHQFORVHGE\DQRUDQJHIUDPHGHDFWLYDWHVWKH3,3