You must independently evaluate and make your own determination whether an investment in any particular security or securities or investment strategy is suitable for you and consistent with your investment objectives, risk tolerance, and financial situation.
1. Zero account minimums and zero account fees apply to retail brokerage accounts only. Expenses charged by investments (e.g., funds, managed accounts, and certain HSAs) and commissions, interest charges, or other expenses for transactions may still apply. See Fidelity.com/commissions for further details.
2. Fully paid securities are securities in a customer's account that have been completely paid for. Excess-margin securities are securities that have not been completely paid for, but whose market value exceeds 140% of the customer's margin debit balance to National Financial Services LLC.
3. Securities on loan are available to sell online from the “cash” account type. Positions held in cash must be sold separately from positions held in margin. Proceeds from sales of securities on loan may not be immediately available for new purchases.
4. The credit adjustment percentage may be increased or decreased from time to time by Fidelity due to changes in federal and/or state tax law and the classification of the dividend distribution. Fidelity does not guarantee that this adjustment will be sufficient to eliminate the full additional tax burden associated with all dividend distributions. Fidelity reserves the right to deny credit adjustments to any customer whom Fidelity determines would have been otherwise ineligible to receive the tax benefit of a reduced dividend tax rate. When factoring in credit adjustments, Fidelity’s total cost for borrowing from taxable accounts over a record date will be greater than the cost of borrowing from tax indifferent lenders.
All references to Fidelity include National Financial Services LLC (“NFS”) and Fidelity Brokerage Services LLC (“FBS”), Members NYSE, SIPC.
The Fully Paid Lending Program is only a means to realize increased income on certain securities and does not provide any downside protection or “hedge” against the customer’s lending position(s) or portfolio.
Fidelity and its representatives may have a conflict of interest in the products or services mentioned in this material because they have a financial interest in and receive compensation, directly or indirectly, in connection with the management, distribution, and/or servicing of these products or services, including Fidelity funds, certain third-party funds and products, and certain investment services.
Fidelity Capital Markets is a division of National Financial Services LLC. Fidelity Family Office Services is a division of Fidelity Brokerage Services LLC.
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