The data (whether provided in hard copy such as reports or statements or on the website, the "Information") contained herein is provided to you solely for informational purposes by the Global Custody and Agency Services ("GCAS"), a business operating within Bank of America Merrill Lynch pursuant to your contract with one of the following entities: (i) Bank of America, N.A., a national banking association chartered and existing under the laws of the United States of America by the Office of the Comptroller of the Currency, acting in the United States through various branch offices including 135 S. LaSalle Street, Chicago, Illinois 60603, and in the United Kingdom acting through its registered branch in England located at 2 King Edward Street, London, EC1A 1HQ, the United Kingdom, with number FC 002984, authorised by the Prudential Regulatory Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulatory Authority, and (ii) Bank of America Custodial Services (Ireland) Ltd., authorized and regulated by the Central Bank of Ireland, and registered in Ireland as a limited liability company under registration number 430806.
"Bank of America Merrill Lynch" is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, leasing, equipment finance and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, locally registered entities, including Merrill Lynch International. In certain instances, other affiliates may provide services to a client. This document, including all trademarks and service marks relating to Bank of America Merrill Lynch, remains the intellectual property of Bank of America Merrill Lynch. Bank of America Merrill Lynch is a trademark of Bank of America Corporation. Other trademarks are property of their respective owners.
The Information is for your private use only. While all care has been taken in compiling the Information and it is provided in good faith, it is not to be relied on as a substitute for professional advice. The Information may be prepared with or based on information provided by third parties. Bank of America Merrill Lynch cannot attest to the continued accuracy of the presentation of Information once such Information has left its control, and Bank of America Merrill Lynch accepts no responsibility for the accurateness, completeness or timeliness of the information. In addition, Bank of America Merrill Lynch will not be responsible or liable for any losses, whether direct, indirect or consequential, including loss of profits, damages, costs, claims or expenses, relating to or arising from your use or reliance upon any part of the Information including, without limitation, trading losses, loss of opportunity or incidental or punitive damages.
In case of any discrepancy, please contact your client account manager immediately.
Pricing & Valuation
As a general matter, the client statement and any other reports on the Website or in hard copy contain prices or valuations furnished by standard industry pricing services in determining market values of securities in accounts. Further, Bank of America Merrill Lynch does not act as a valuation agent. Bank of America Merrill Lynch shall be entitled to conclusively rely on prices and valuations furnished by such pricing services and will bear no responsibility for the valuation of positions held either away from or with Bank of America Merrill Lynch or any of its affiliates.
You are solely responsible for making, and the content of, any required filings with any state or government agency, any self-regulatory organization or exchange and for the accuracy of the information contained therein. Bank of America Merrill Lynch does not act as a tax agent. Bank of America Merrill Lynch does not render any opinion or provide advice regarding legal, compliance, accounting, regulatory or tax matters and it is your responsibility to seek such legal, compliance, accounting, regulatory or tax advice as you deem necessary. The Information is not intended or written to be used, and cannot be used or relied upon for the purpose of avoiding tax penalties.
FDIC FIL 9 2009
With respect to any such “cash sweep vehicle”, if applicable, Money Market Funds and Mutual Funds are not deposits within the meaning of the Federal Deposit Insurance Act (12 U.S.C. 1813(l)), are not insured or guaranteed by the U.S. Government, the FDIC or any other government agency, are not insured, endorsed or guaranteed by Bank of America, are not obligations of Bank of America, and involve investment risk, including possible loss of principal. If a receiver were appointed for Bank of America, the client would have an ownership interest in the shares of the Money Market Fund or Mutual Fund that Bank of America purchased on behalf of the client.
Financial Conduct Authority ("FCA") Client Asset Rules
Other than in circumstances relating to custody asset shortfalls described below, cash is held by Bank of America N.A., acting through its registered branch in England ("BANA London"), as banker and not in accordance with the FCA's client money rules. Accordingly in the event of the failure of BANA London the FCA’s client money distribution rules will not apply to such cash and you will not be entitled to share in any distribution made under the FCA’s client money distribution rules.
Assets are held by BANA London in Global Custody and Agency Services under the FCA's custody asset rules. Where BANA London, in the course of conducting either its internal or external client asset reconciliation identifies a custody asset shortfall, client money and/or non-cash equivalent assets will be segregated in accordance with the FCA's Client Asset Rules equal to an allocation of the value of assets representing a shortfall.
Investment Business Compensation Information
Customers of BANA London which qualify as eligible claimants under the UK Financial Services Compensation Scheme (“FSCS”) may be entitled to claim compensation in the event of a default by BANA London. Payments under the FSCS in respect of investment business are currently subject to a maximum payment to any eligible investor of GBP50,000. This amount is subject to change. Further details of the FSCS are available on request or at the official website at www.FSCS.org.uk. However, based upon information available to BANA London as at the date you entered into your custody agreement with BANA London, you do not qualify as an eligible claimant. Accordingly BANA London does not believe that any securities held by it under your custody agreement will be protected under the rules of the FSCS.
UK Depositor Protection Information
BANA London is a member of the FSCS.
For further information about the compensation provided by the FSCS, refer to the
FSCS website at www.FSCS.org.uk
From 1 January 2016, basic information regarding protection of your eligible deposits will be set out in the “information sheet” that BANA London will provide you.
From 1 January 2016, deposits that are excluded from FSCS deposit compensation will be set out in the “exclusions list” that BANA London will provide you.
On 1 January 2016 the deposit protection limit is changing from £85,000 to £75,000.
If your bank, building society or credit union fails, the Financial Services Compensation Scheme (FSCS) protects your eligible deposits up to the deposit protection limit (currently £85,000 for most depositors).1
If you have eligible deposits of more than £75,000, you are unlikely to be fully protected after 1 January 2016 so you may need to take action if you wish to remain fully covered by the FSCS.
From 1 January 2016, your eligible deposits with BANA London will be protected up to a total of £75,000 by the FSCS.
PLEASE CONTACT CUSTODY ACCOUNT MANAGER, GLOBAL CUSTODY AND AGENCY SERVICES, BANK OF AMERICA, NATIONAL ASSOCIATION (LONDON BRANCH), 2 KING EDWARD STREET, LONDON, EC1A 1HQ. TEL: +44 (0)20 7995 2158 FOR FURTHER INFORMATION ON KEEPING YOUR MONEY PROTECTED.
If you have total eligible deposits of less than £75,000 with Bank of America N.A., then you will not be affected by the limit change.
Further information regarding the protection provided by FSCS is set out below.
General limit of protection
Your eligible deposits held at the same bank, building society or credit union are added up in order to determine the coverage level. If, for instance, you hold eligible deposits in a savings account with £70,000 and a current account with £20,000, you will only be repaid £75,000 (or £85,000 for most depositors until 31 December 2015).
From 3 July 2015 until 31 December 2015:
The FSCS protects most depositors, including individuals and small companies, up to £85,000 until 31 December 2015.
Eligible deposits of large companies1 and small local authorities2 are eligible for FSCS protection from 3 July 2015 onwards. The £75,000 deposit protection limit will apply from 3 July 2015 since these deposits have not previously been protected.
From 1 January 2016:
From 1 January 2016, the FSCS will protect most eligible deposits up to a total of £75,000. Any deposits you hold above the limit are unlikely to be covered.
Depositors with aggregate deposit balances over £75,000
Further information will be provided to depositors on how these changes will affect depositors with aggregate balances over £75,000. Please contact Custody Account Manager, Global Custody and Agency Services, Bank of America, National Association (London branch), 2 King Edward Street, London, EC1A 1HQ. Tel: +44 (0)20 7995 2158 or the FSCS (details below) for further information.
Temporary high balances
In some cases, an eligible deposit which is categorised as “a “temporary high balance” (for example, as a result of a house sale, inheritance, or insurance payment) may be protected to a higher limit for six months after the amount has been credited to your account or from the moment when such eligible deposits become legally transferable. This applies from 3 July 2015. See the FSCS website for full details.
Exclusions from protection
A deposit is excluded from protection if:
(1) The holder and any beneficial owner of the deposit have never been identified in accordance with money laundering requirements. For further information, contact your bank, bank building society or credit union.
(2) The deposit arises out of transactions in connection with which there has been a criminal conviction for money laundering.
(3) It is a deposit made by a depositor which is one of the following: a. credit institution; b. financial institution; c. investment firm; d. insurance undertaking; e. reinsurance undertaking; f. collective investment undertaking; g. pension or retirement fund1; h. public authority, other than a small local authority.
The following deposits, categories of deposits or other instruments are no longer protected from 3 July 2015:
i. deposits of a credit union to which the credit union itself is entitled; j. deposits which can only be proven by a financial instrument2 unless it is a savings product which is evidenced by a certificate of deposit made out to a named person and which exists in a Member State on 2 July 2014; k. deposits of a collective investment scheme which qualifies as a small company3; l. deposits of an overseas financial services institution which qualifies as a small company4; m. deposits of certain regulated firms (investment firms, insurance undertakings and reinsurance undertakings) which qualify as a small business or a small company5 – refer to the FSCS for further information on this category.
The FSCS aims to repay your eligible deposits (up to the compensation limit) within 7 days, and is required to do so within 20 working days (with some exceptions).
 Exceptions for certain deposits are stated below and on the FSCS’s website: http://www.fscs.org.uk.
 Large company means a body corporate which does not qualify as a small company under section 382 of the Companies Act 2006
 Small local authority means a local authority with an annual budget of up to EUR 500,000
 Deposits by personal pension schemes, stakeholder pension schemes and occupational pension schemes of micro, small and medium sized enterprises are not excluded
 Listed in Section C of Annex 1 of Directive 2014/65/EU
 Under the Companies Act 1985 or Companies Act 2006
 See footnote above
 See footnote above