CD New Issue Offerings

System availability and response time is subject to market conditions.

Fidelity offers a type of Certificate of Deposit ("CD") called a Brokerage CD. Brokerage CDs are issued by banks for brokerage firms' customers with the deposits received being obligations of the issuing bank. The CDs are usually issued in large denominations and the brokerage firm divides them into smaller denominations for re-sale to their customers.
As with all of your fixed income investments including CDs offered through Fidelity, you must make your own determination as to whether any of these securities are consistent with your investment objectives and risk tolerance. Fidelity is not recommending or endorsing any of these securities by making them available to its customers. If you enter an order, Fidelity may notify you that the security is more aggressive than your stated investment objective for your account.

The Federal Deposit Insurance Corporation (FDIC) insures CDs for principal and accrued interest up to $250,000 per issuer. Any account or deposits that you may maintain directly with a particular issuer are aggregated with the CDs for purposes of the $250,000 limit. On October 3, 2008, certain FDIC insurance coverage limits were temporarily increased from $100,000 to $250,000. These temporary increases will remain in effect until December 31, 2013. Additional information can be found on the FDIC website. CDs which mature after 12/31/2013 will have the $250,000 coverage up to the 12/31/2013 date. After that the insurance will revert to the $100,000 level. FDIC now insures CDs for principal and accrued interest up to $250,000 per account owner per institution for depository assets held in qualifying retirement accounts such as traditional or Roth IRAs.
Fidelity offers new issue brokered CDs that carry FDIC insurance coverage. National Financial Services LLC, a Fidelity Investments company and affiliate of Fidelity Brokerage Services LLC, and/or DTC maintains the records of each brokered depositor in accordance with applicable requirements of the FDIC and brokerage agreements with the CD underwriters. CDs available in the secondary market may not be FDIC insured.

FDIC coverage limits apply to aggregate amounts on deposit at each covered institution. Investors should consider the extent to which other accounts, deposits or accrued interest may exceed applicable FDIC limits.

Fidelity will not monitor the amount of your brokered deposit to determine whether it exceeds the limit of available FDIC insurance. You are responsible for monitoring the total amount of your assets on deposit with the issuer (including amounts in other accounts at the issuer held in the same right and legal capacity) in order to determine the extent of deposit insurance coverage available to you on those deposits, including your brokered deposit. If you are a trustee, you are responsible for determining the application of the insurance rules for you and your beneficiaries.
Please see www.FIDC.gov for more information about FDIC insurance coverage and the availability of Bank Rating Services.

Investing in brokered CDs is similar to investing in bank CDs, in that investors agree to place their funds with the issuing bank for the term of the CD, and the CD earns interest at a specified rate. They differ in that brokered CDs may be also be sold prior to maturity and, in turn, investors may also buy brokerage CDs in the secondary market.

Any fixed income security including CDs sold or redeemed prior to maturity may be subject to a gain or loss. Fidelity values brokered CDs on customer statements at current market value as determined by third-party sources. Actual market value may differ if sold in the secondary market.

If your CD has a maturity date of more than one year from the date of issue, the pre-maturity sale price may be less than its original purchase price, particularly if interest rates are higher at the time of sale. The secondary market may also be limited. Fidelity currently makes a market in this CD but may not do so in the future.

If your CD has a step rate, the interest rate of your CD may be higher or lower than prevailing market rates. Step rate CDs are also subject to secondary market risk and often will include a call provision by the issuer that would subject you to reinvestment risk. The initial rate is not the yield to maturity.
If your CD has a call provision, please be aware the decision to call the CD is at the issuer's sole discretion. Also, if the issuer calls the CD, you may be confronted with a less favorable interest rate should you decide to reinvest your funds.

The above offerings will generally no represent the universe of outstanding securities and should not be construed as all-inclusive.

Fidelity makes certain new issue CDs available without a separate transaction fee. Fidelity may receive compensation for new issue brokered CDs from an underwriter in the form of a concession. It is typically between .5 and 2% of the investment amount.

Bonds are made available through our affiliate ational Financial Services LLC and from various third-party providers, including participants on the BondDesk platform, with FBS normally acting as riskless principal or agent.

Due to the possibility of system outages, untimely information provided by vendors, or various other reasons, Fidelity cannot guarantee the timeliness or accuracy of prices displayed. Price is subject to change and may be affected by availability and size of order. Yields are as of standard settlement and reflect the lower of the yield to maturity or the yield to call unless otherwise noted.
Although content is continuously supplied, it is only valid as of the date published and may become unreliable because of subsequent market conditions or other reasons.
Bank bond ratings are from Standard & Poor’s and/or Moody's. Customers are responsible for evaluating both the CDs and the creditworthiness of the underlying issuing institution. It is not Fidelity’s responsibility to perform these evaluations.

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The information provided herein is general in nature and should not be considered legal or tax advice. Fidelity does not provide legal or tax advice. Consult with an attorney or tax professional regarding your specific legal or tax situation.
During certain time periods, the services may not provide access to certain content with respect to securities of issuers which are the subject of public offerings that are made available to Fidelity's brokerage customers.