03$
(/(&75,&$/ &+$5$&7(5,67,&6 7$%/( &217·'
1RWHV
7HVWHU PHDVXUHV FRGH WUDQVLWLRQV E\ GLWKHULQJ WKH YROWDJH RI WKH DQDORJ LQSXW 9,1 7KH GLIIHUHQFH EHWZHHQ WKH PHDVXUHG DQG WKH
LGHDO FRGH ZLGWK 95() LV WKH '1/ HUURU )LJXUH 7KH ,1/ HUURU LV WKH PD[LPXP GLVWDQFH LQ /6%·V IURP WKH EHVW ILW OLQH WR
DQ\ WUDQVLWLRQ YROWDJH )LJXUH $FFXUDF\ LV D IXQFWLRQ RI WKH VDPSOLQJ UDWH )6
*XDUDQWHHG 1RW WHVWHG
6SHFLILHG YDOXHV JXDUDQWHH IXQFWLRQDOLW\ 5HIHU WR RWKHU SDUDPHWHUV IRU DFFXUDF\
6HH 9,1 LQSXW HTXLYDOHQW FLUFXLW )LJXUH 6ZLWFKHG FDSDFLWRU DQDORJ LQSXW UHTXLUHV GULYHU ZLWK ORZ RXWSXW UHVLVWDQFH
$OO LQSXWV KDYH GLRGHV WR '9'' DQG '*1' ,QSXW 2( KDV LQWHUQDO SXOO GRZQ ,QSXW 2( KDV LQWHUQDO SXOO XS ,QSXW '& FXUUHQWV ZLOO
QRW H[FHHG VSHFLILHG OLPLWV IRU DQ\ LQSXW YROWDJH EHWZHHQ '*1' DQG '9''
,QWHUQDO UHVLVWRU WR '9'' ELDVHV XQFRQQHFWHG LQSXW WR DFWLYH KLJK ORJLFDO OHYHO
,QWHUQDO UHVLVWRU WR '*1' ELDVHV XQFRQQHFWHG LQSXW WR DFWLYH ORZ ORJLFDO OHYHO
&RQGLWLRQ WR PHHW DSHUWXUH GHOD\ VSHFLILFDWLRQV W$3 W$- $FWXDO ULVHIDOO WLPH FDQ EH OHVV VWULQJHQW ZLWK QR ORVV RI DFFXUDF\
615 5DWLR RI IXQGDPHQWDO RYHU QRLVH
6SHFLILFDWLRQV DUH VXEMHFW WR FKDQJH ZLWKRXW QRWLFH
$%62/87( 0$;,080 5$7,1*6 7
G& XQOHVV RWKHUZLVH QRWHG
9'' WR *1' 9
95() 95()ï *1' ï WR 9'' 9
9,1 *1' ï WR 9'' 9
$OO ,QSXWV *1' ï WR 9'' 9
$OO 2XWSXWV *1' ï WR 9'' 9
6WRUDJH 7HPSHUDWXUH ï WR G&
/HDG 7HPSHUDWXUH 6ROGHULQJ VHFRQGV G&
G 3DFNDJH 3RZHU 'LVVLSDWLRQ 5DWLQJ WR &
&',3 3',3 62,& /&& P:
G G 'HUDWHV DERYH & P: &
1RWHV
6WUHVVHV DERYH WKRVH OLVWHG XQGHU ´$EVROXWH 0D[LPXP 5DWLQJVµ PD\ FDXVH SHUPDQHQW GDPDJH WR WKH GHYLFH 7KLV LV D
VWUHVV UDWLQJ RQO\ DQG IXQFWLRQDO RSHUDWLRQ DW RU DERYH WKLV VSHFLILFDWLRQ LV QRW LPSOLHG ([SRVXUH WR PD[LPXP UDWLQJ
FRQGLWLRQV IRU H[WHQGHG SHULRGV PD\ DIIHFW GHYLFH UHOLDELOLW\
$Q\ LQSXW SLQ ZKLFK FDQ VHH D YDOXH RXWVLGH WKH DEVROXWH PD[LPXP UDWLQJV VKRXOG EH SURWHFWHG E\ 6FKRWWN\ GLRGH FODPSV
P +3 IURP LQSXW SLQ WR WKH VXSSOLHV $OO LQSXWV KDYH SURWHFWLRQ GLRGHV ZKLFK ZLOO SURWHFW WKH GHYLFH IURP VKRUW
WUDQVLHQWV RXWVLGH WKH VXSSOLHV RI OHVV WKDQ P$ IRU OHVV WKDQ V
9 UHIHUV WR $9 DQG '9 *1' UHIHUV WR $*1' DQG '*1'
#0;