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Fixed Income Analysis Report

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Fixed Income Analysis Report Fixed Income Analysis Report Report Generated: 01/03/2018 10:42 AM Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street Smithfield, RI 02917 623712.19.0 211073982 SAMPLE FOR ILLUSTRATION PURPOSES ONLY 700422.1.4 TABLE OF CONTENTS Fixed Income Analysis Report Overview................................3 Bond & CD Positions Overview..............................................4 Bond Fund Positions Overview............................................14 Cash Flow Calculations Overview.........................................16 Bonds & CDs............................................................17 Bonds, CDs, & Bond Funds......................................28 Bond Funds..............................................................30 Bond & CD Analytics Overview............................................32 Bond Fund Analytics Overview............................................45 Bond & CD Interest Rate Sensitivity Illustrator Overview......56 Bond Fund Interest Rate Sensitivity Illustrator Overview......66 Glossary Of Terms................................................................69 Fixed Income Analysis Report 01/03/2018 10:42 AM Fixed Income Analysis Report Overview Unless otherwise specifically stated, all position holdings data, including account balances, are gathered from brokerage accounts that you own, as well as authorized accounts and position holdings held outside of Fidelity you have identified for analysis. This report only includes your holdings in the accounts selected and identified on Fidelity.com’s Fixed Income Analysis tool’s Position page as “Existing Portfolio (Fidelity & Outside)”. Only the Interest Rate Sensitivity portion of this report includes any positions you identified as hypothetical. This report should not be substituted for, or considered, your account statement and is provided for educational purposes only. You should not rely on this report as the primary basis for your investment or tax-planning decisions. Please consult your most recent Fidelity account statement for information regarding your account balances, positions, and transactions. Fidelity reports data as of the most recent closing price. Fidelity is not able to verify the accuracy, timeliness or completeness of the position data reflected for positions that are held outside of Fidelity. If there are any terms referenced in this analysis that are unfamiliar to you, please refer to Important Information section at the end of this report or visit Fixed Income Analysis tool’s Help/Glossary at Fidelity.com. IMPORTANT: If you have any unsettled trades pending in any of the accounts identified for analysis as of the date this report was generated, account balances, holdings data and analytical information presented in this report may be materially impacted and, depending on the size and scope of such unsettled trades, rendered unreliable. Page 3 of 71 Fixed Income Analysis Report 01/03/2018 10:42 AM Bond & CD Positions Overview The table included on the following pages displays bond and CD positions held at Fidelity and outside positions sorted by maturity. Additional information in the table includes applicable call dates, Moody’s and S&P ratings, acquisition information for open lots, adjusted cost basis, and duration. The value of your holdings in your accounts may change from day to day, and you should always ensure that you have the most up-to-date information before investing. Fidelity reports data as of the most recent closing price. Fidelity is not able to verify the accuracy, timeliness or completeness of the position data reflected for positions that are held outside of Fidelity. In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk, liquidity risk, call risk and credit and default risks for both issuers and counterparties. If there are any terms referenced in this analysis that are unfamiliar to you, please refer to the Glossary of Terms at the end of this report. For additional information, visit the Fixed Income Analysis Help/Glossary at Fidelity.com. Page 4 of 71 Fixed Income Analysis Report 01/03/2018 10:42 AM Positions: Bonds & CDs (continued) Ratings1 Open Lot Detail Total Most Acquisition Acquisition Position Estimated Duration Recent Adjusted CUSIP Description Maturity Call Date Coupon Moody's2 S&P3 Date Yield Quantity Quantity Yield (years) Price Most Recent Value CostBasis Account ProductType BANK OF CHINA NEW YORK CITY BR 06426WWX6 03/20/2018 n/a 1.400 -- -- 12/18/2017 +1.40 1,000 1,000 1.33 0.20 100.013 $1,000.13 1000.00 CD CD Outside 1.40000% 03/20/2018 PETRO-CDA NOTE CALL 71644EAH5 MAKE WHOLE 05/15/2018 n/a 6.050 WR NR n/a n/a n/a 50,000 1.77 n/a 101.530 $50,765.00 0.00 Outside Corporate 6.05000% 05/15/2018 CONOCOPHI LLIPS NOTE CALL 20825CAN4 05/15/2018 n/a 5.200 WR NR n/a n/a n/a 25,000 0.00 n/a n/a $0.00 0.00 Outside Corporate MAKE WHOLE 5.20000% 05/15/2018 CONOCOPHI LLIPS NOTE CALL 20825CAN4 05/15/2018 n/a 5.200 WR NR n/a n/a n/a 10 0.00 n/a n/a $0.00 0.00 Outside Corporate MAKE WHOLE 5.20000% 05/15/2018 BANK OF CHINA NEW YORK CITY BR 06426WWY4 06/20/2018 n/a 1.500 -- -- 12/18/2017 +1.50 1,000 1,000 1.50 0.45 100.001 $1,000.01 1000.00 CD CD Outside 1.50000% 06/20/2018 WICHITA KANS GO BDS 967243N36 SER 778A 09/01/2018 03/01/2018 4.250 AA1 AA+ n/a n/a n/a 30 1.48 0.08 100.213 $30.06 0.00 Outside Municipal 04.25000% 09/01/2018 1 Multiple credit ratings may be assigned to a municipal security by a single rating agency. The ratings reflected in the table are typically the “long-term” rating, which reflects the rating agency’s opinion about the overall risk of default for the municipal security, taking into account the effect of any credit enhancement features, such as bond insurance. If a municipal security’s rating is based on any credit enhancement features, the rating agency may also assign an “underlying” rating expressing an opinion on the credit quality of a municipal security independent of any credit enhancement features. See Bond Details on Fidelity.com for more detailed credit rating information including underlying ratings. 2 Moody's Rating: A bond rating system used by Moody's to specify its assessment of the quality of bonds (e.g., Aaa for best quality bonds, Baa for a lower quality than Aaa, etc.). A rating of Baa3 is the lowest Moody's credit rating that is still classified as investment grade. Non-rated positions will display as "--". 3 S&P Rating: A bond rating system provided by Standard & Poor's (S&P) to rate the quality of bonds based on the rating agency's assessment of the quality of the bonds (e.g., AAA is best quality, A- is a lower quality than AAA, etc.). A rating of BBB- is the lowest S&P credit rating that is still classified as investment grade. Non-rated positions will display as "--". S&P is a registered service mark of The McGraw-Hill Companies, Inc. Page 5 of 71 Fixed Income Analysis Report 01/03/2018 10:42 AM Positions: Bonds & CDs (continued) Ratings1 Open Lot Detail Total Most Acquisition Acquisition Position Estimated Duration Recent Adjusted CUSIP Description Maturity Call Date Coupon Moody's2 S&P3 Date Yield Quantity Quantity Yield (years) Price Most Recent Value CostBasis Account ProductType UNITED STATES TREAS NTS 912828RP7 10/31/2018 n/a 1.750 AAA -- 09/09/2013 +1.75 1,000 1,000 1.78 0.81 99.981 $999.81 999.84 Treasury NOTE Outside 1.75000% 10/31/2018 COMPASS BK BIRMINGHAM 20451PTR7 ALA CD 12/14/2018 n/a 1.700 -- -- 12/13/2017 +1.70 1,000 1,000 1.69 0.93 100.007 $1,000.07 1000.00 Outside CD 1.70000% 12/14/2018 CRANE CO NOTE CALL 224399AS4 MAKE WHOLE 12/15/2018 n/a 2.750 BAA2 BBB 10/27/2017 +1.71 1,000 1,000 2.30 0.93 100.417 $1,004.17 1009.86 Outside Corporate 2.75000% 12/15/2018 UNITED STATES TREAS NTS 912828SH4 02/28/2019 n/a 1.375 AAA -- n/a n/a n/a 1,000 1.88 1.13 99.438 $994.38 0.00 Outside Treasury NOTE 1.37500% 02/28/2019 PRIVATE EXPT FDG CORP 742651DQ2 NOTE 08/15/2019 n/a 1.450 AAA NR 09/25/2017 +1.59 2,000 2,000 2.05 1.57 99.061 $1,981.22 1994.80 Outside Corporate 1.45000% 08/15/2019 1 Multiple credit ratings may be assigned to a municipal security by a single rating agency. The ratings reflected in the table are typically the “long-term” rating, which reflects the rating agency’s opinion about the overall risk of default for the municipal security, taking into account the effect of any credit enhancement features, such as bond insurance. If a municipal security’s rating is based on any credit enhancement features, the rating agency may also assign an “underlying” rating expressing an opinion on the credit quality of a municipal security independent of any credit enhancement features. See Bond Details on Fidelity.com for more detailed credit rating information including underlying ratings. 2 Moody's Rating: A bond rating system used by Moody's to specify its assessment of the quality of bonds (e.g., Aaa for best quality bonds, Baa for a lower quality than Aaa, etc.). A rating of Baa3 is the lowest Moody's credit rating that is still classified as investment grade. Non-rated positions will display as "--". 3 S&P Rating: A bond rating system provided by Standard & Poor's (S&P) to rate the quality of bonds based on the rating agency's assessment of the quality of the bonds (e.g., AAA is best quality, A- is a lower quality than AAA, etc.).
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