EFTA01448058.pdf

Comparison of Deutsche Bank Securities Inc (DBSIr cash sweep options Overview Free cash balances from your brokerage account is used to purchase shares Free cash balances from your brokerage account is deposited into an interest- Free cash balances from your brokerage account is deposited into an interest- in one or more money market mutual funds that invest in highly liquid short- bearing account at one or more FDIC-insured program banks. Each program bearing account at Deutsche Bank AG, New York Branch (DB AG NY), a non- term securities. bank has a maximum FDIC insurance limit of $250,000 arid the overall FDIC insured branch of Deutsche Bank, AG, a bank organized under the laws program maximum FDIC insurance limit of $2.5 million. of Germany. Minimum investment Varies according to fund. None Minimum initial sweep of $250,000. Minimum investor None None Accredited investors (as defined under Regulation 0 of the Securities qualifications Act of 1933. is amended) FDIC insuranceiSIPC Money market mutual funds are not FDIC insured. SIPC will provide protection FDIC insured up to 8250,000 per program bank (potentia€ly reduced by any No FDIC insurance or S€PC protection. protection in the case of an insolvency of Pershing (DBSI's clearing broker-dealer), which other client deposits held at program bank thru OBS' or other provider of will have custody of your fund shares. SIPC does not protect against ordinary financial services). Overall program maximum FDIC insurance of $2.5 million, market loss in the value of a money market fund. No SIPC protection. How is rate determined Money market mutual funds have a fiduciary duty to seek the highest yield The interest rate paid to you is determined by a formula related to the Interest rates on the DB AG NY Sweep Program will be determined at the available for their shareholders (less tees and expenses) consistent with aggregate amount of total deposits by all participants in the program and discretion of DB AG NY. DB AG NY may seek to pay a rate as low as possible, prudence and their investment objectives. Your yield wi€l be based on your a rate of interest based on the average federal funds effective rate, plus a and is not obligated to offer rates that are higher than, or equal to, prevailing share of the total return of the securities the fund has invested in. spread negotiated with Deutsche Bank Trust Company Americas (DBTCA) market interest rates or rates that are comparable to other Cash Sweep from time to time. Tlx: rate may flucuate from time to time due to market Options or other available deposit or investment products. conditions. In addition, the interest rate will be tiered based on the market value of assets and cash in all brokerage accounts held with DBSI under the same tax identification number. Certain risks Although money market mutual funds seek to preserve a net asset value Cash swept to each program bank is insured by the FDIC tip to $250,000 Cash swept into a deposit account at DB AG NY Sweep Program will be a (NAV) of SI per share. an investment in fund shares may incur losses if the per program bank. If you hold any other deposits seperately at a program direct, unconditional, unsecured and unsubordinated deposit obligation of fund's assets decrease in value. There is no guarantee against loss and the bank outside the cash sweep program, your total deposits at such bank, DO AG NY and is not insured by the FDIC or any other governmental agency investment is not insured or guaranteed by FDIC. including those in the program or otherwise. are only insured up to $250.000. of the United States, Germany or any other jurisdiction. Return of principal The program wil€ sweep your cash into a varying number of program banks. and payment of interest depend on the financial solvency and ability to pay Assuming that you have no other deposits at the program banks, the of Deutsche Bank AG and DB AG NY. The amounts on deposit with DB maximum amount of FDIC coverge will be $2.5 million. It is your responsibility AG NY are not obligations of, or guaranteed by. DBSI, Pershing or any of to monitor your balances at other financial institutions. Any cash swept in their affiliates or other third parties. Please refer to the Cash Sweep Options excess of this amount will not be FOIC insured and will be subject to the risk Disclosure document for additional information. of loss in the event of the insolvency of any program bank. Fees Money market mutual funds will charge a tee based on the percentage of You will not be assessed a fee in connection with your participation in the You will not be assessed a fee in connection with your participation in the DB cash invested. This fee will reduce the return you receive. FDIC-insured bank sweep program. Please note that each program bank AG NY Sweep Program. Please note that DB AG NY expects to earn a higher expects to earn a higher return from lending or investing your funds than it return from lending or investing your funds than it pays you in interest and pays you in interest and incurs in expenses of administering the program. incurs in expenses of administering the program. Conflict of interest Each participating money market mutual fund pays certain processing and Program banks pay certain processing and revenue sharing fees to DBTCA in DB AG NY is the New York branch of Deutsche Bank. AG, an affiliate of DB51. revenue sharing fees to Pershing and DBSI based on the total amount of cash its role as sponsor of the program. DBTCA also shares a percentage of this DBSI may therefore have incentives to favor the DB AG NY Sweep Program swept into the fund. Please note that a majority of the money market mutual revenue with DBSI based on the total amount of cash swept from accounts over other sweep alternatives operated by third parties. DBTCA receives fees funds offered to DBSI customers are owned by DBTCA. DBSI Client Advisors custodied at Pershing. 0851 Client Advisors receive no compensation with and benefits from DB AG NY for services provided as the Settlement Bank of receive no compensation with regard to money market mutual funds. regard to the FDIC-insured bank deposit program. up to 4 basis points (0.04%) based on the balances in the DB AG NY deposit accounts. DBSI may receive an intercompany credit for funds placed with 08 AG NY. Such credit, if received may be used in determining the profitability of business activities of DBSI. DBSI Client Advisors receive no compensation with regard to the DB AG NY Sweep Program. Other information Investors in money market mutual funds should carefully consider information Please review✓ the rAch Sweep Options Disclosure document which is available Please refer to theCash Sweep Option Disclosure document for additional contained in the applicable prospectus, including investment objectives, from your DBSI Client Advisor or at httplaivwwpwm.db.comfamericasteni information which is available from your 0851 Client Advisor or at risks, and fees. You may request a prospectus by contacting your 0851 Client CashSweepOptiortsternl. The FDIC-Insured Sweep Program was created and letpl/www.pwm.dlecomiamericasfen/CashSvveepOptions.html. Advisor. Please read the prospectus carefully before investing. Please refer to is overseen pursuant to an arrangement between DBTCA and Pershing and is the Cash Sweep Option Disclosure document for additional information which made availab€e by Pershing to certain 0651 clients whose OBSI accounts are is available from your DBSI Client Advisor or at littpl/www.pwm.db.comf held in custody with Pershing. The above referenced Cash Sweep Disclosure americaskieCashSweepOptions.litml. document contains more detailed information regarding the program. "Deutsche Bank" means Deutsche Bank AG and its affiliated companies. Deutsche Asset & Wealth Management represents the asset management and wealth management activities conducted by Deutsche Bank AG or its subsidiaries. Clients are provided Deutsche Asset & Wealth Management products or services by one or more legal entities that are identified to clients pursuant to the contracts, agreements, offering materials or other documentation relevant to such products or services. Brokerage services are offered through Deutsche Bank Securities Inc., a registered broker-dealer and investment adviser, which conducts investment banking and securities activities in the United States. Deutsche Bank Securities Inc. is a member of FINRA. NYSE and SIPC. Deutsche Bank AG. All rights reserved. wm134.821 (9/131 016149 09091:5 CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 102903 CONFIDENTIAL SDNY_GM_00249087 EFTA01448058