申博菲律宾app’s banking and lending services are provided by 申博菲律宾app Bank, Member FDIC, and 申博菲律宾app Bank & Trust, Member FDIC, Equal Housing Lender, NMLS# 375103 (collectively, “申博菲律宾app Banks”). Trust and fiduciary services are provided by 申博菲律宾app Trust Company, N.A., Member FDIC, and 申博菲律宾app Trust Company Delaware, N.A., Member FDIC (collectively, “申博菲律宾app Trust Companies”). 申博菲律宾app Banks and 申博菲律宾app Trust Companies are affiliated with 申博菲律宾app, Nicolaus & Company, Incorporated, Member SIPC & NYSE, each a wholly owned subsidiary of 申慱sunbet手机版 Corp. Unless otherwise specified, references to “申博菲律宾app” may mean 申慱sunbet手机版 Corp. and/or any of its subsidiaries. Unless otherwise specified, products purchased from or held by 申博菲律宾app, 申博菲律宾app Banks, and/or 申博菲律宾app Trust Companies are not deposits or other obligations of 申博菲律宾app, 申博菲律宾app Banks, or 申博菲律宾app Trust Companies, are not guaranteed by 申博菲律宾app, 申博菲律宾app Banks, and/or 申博菲律宾app Trust Companies, and are subject to investment risks, including possible loss of the principal invested. None of 申博菲律宾app, 申博菲律宾app Banks, or 申博菲律宾app Trust Companies provide legal or tax advice.

Residential mortgage lending services for clients of 申博菲律宾app, Nicolaus & Company, Incorporated are performed exclusively by 申博菲律宾app Bank and 申博菲律宾app Bank & Trust (申博菲律宾app Banks). The financial advisors of 申博菲律宾app, Nicolaus & Company, Incorporated do not offer mortgage loans, provide mortgage loan information, or accept residential mortgage loan applications.

Understanding the potential risks of a 申博菲律宾app Pledged Asset (SPA) Line of Credit
Speak with your Financial Advisor about your risk tolerance level, market fluctuations, and specifically the potential risks associated with a 申博菲律宾app SPA Line of Credit.

Securities-based lines of credit involve risk and is not appropriate for all borrowers. The SPA Line of Credit is a full recourse, demand loan using the assets in a brokerage account as collateral and can be called at any time. An increase in interest rates will affect the overall cost of borrowing. The return on your securities must be higher than your financing cost in order for you generate a positive return in your securities account. The market value of your securities may decline, which may result in the value of that collateral no longer covering the outstanding loan amount. In either event, the borrower may be required to post additional collateral and/or repay part or all of any outstanding loan, and 申博菲律宾app Bank & Trust may call the loan and sell or force the sale of the assets in the collateral account, or any other collateral, without contacting the borrower. The borrower can lose more assets than the borrower is required to deposit in the collateral account. The borrower is responsible for satisfying any amount not covered by the collateral.

申博菲律宾app Bank & Trust can increase its collateral maintenance requirements at any time. 申博菲律宾app Bank & Trust may, in its sole and absolute discretion, demand full or partial payment of the SPA Line of Credit at any time, without notice to cover the loan balance and any interest. The borrower is not entitled to an extension of time to meet a collateral maintenance call.

If pledged securities need to be sold, they may be sold without notice, the borrower may not be offered a chance to deposit cash or additional collateral, and the borrower may not be able to pick which securities will be sold, which can interrupt the borrower’s long-term investment strategy. If pledged securities are sold, this could trigger an unfavorable taxable event for the borrower. Neither 申博菲律宾app Bank & Trust nor our affiliates provide tax or legal advice. Borrower should consult with a tax professional.

The borrower is entitled to draw against their SPA Line of Credit only if loan terms and collateral requirements are met and the draw request is approved by 申博菲律宾app Bank & Trust.

There may be alternative ways of borrowing funds that are less expensive and involve less risk. Your Financial Advisor may receive compensation for balances on SPA loans. Your Financial Advisor benefits when the borrower uses the available balance on his or her loan to meet liquidity needs in lieu of selling securities or other investments.

Trust and fiduciary services are provided by 申博菲律宾app Trust Company, N.A. and 申博菲律宾app Trust Company Delaware, N.A. (申博菲律宾app Trust Companies), wholly owned subsidiaries of 申慱sunbet手机版 Corp. and affiliates of 申博菲律宾app, Nicolaus & Company, Incorporated, Member SIPC & NYSE. Unless otherwise specified, products purchased from or held by 申博菲律宾app Trust Companies are not insured by the FDIC or any other government agency, are not deposits or other obligations of 申博菲律宾app Trust Companies, are not guaranteed by 申博菲律宾app Trust Companies, and are subject to investment risks, including possible loss of the principal invested. 申博菲律宾app Trust Companies do not provide legal or tax advice.