Notice Selection Procedures for Partial Redemption or Calls
Certain securities may be called or redeemed prior to maturity. In the event of a partial redemption or call by the issuer, not all holders of the subject security participate in the redemption. Edward Jones uses a lottery system by which securities are selected, on a fair and impartial basis, among our clients in the event of a partial redemption or call.
The firm's impartial lottery system is constructed such that our firm selects client accounts to participate in a partial redemption or call on a statistically random basis. The likelihood of a client's securities being selected to participate in a partial redemption or call is proportionate to the total holdings of all clients of such securities at Edward Jones.
In addition, when redemptions of callable securities are made on terms that are favorable to clients, the firm's lottery system will not select any client accounts of employees until all other client positions have first been satisfied. When redemptions of callable securities are made on terms that are unfavorable to clients, the firm includes all client accounts in the lottery, including accounts of employees of Edward Jones.
Printable Version of Disclosure: