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Important Account Information Please Read This Booklet Carefully and Retain for Your Records Contents 4 General Information for All Accounts 4 U.S

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Important Account Information Please Read This Booklet Carefully and Retain for Your Records Contents 4 General Information for All Accounts 4 U.S Important Account Information Please read this booklet carefully and retain for your records Contents 4 General Information for all Accounts 4 U.S. Customer Privacy Notice 7 Brazilian Data Protection Notification 7 Summary of Account Types Offered at Morgan Stanley 8 Conflicts of Interest and Other Information 13 Account Linking Service 13 Electronic Delivery (eDelivery) 14 European Securities Subject to the Shareholder Rights Directive II 15 Disclosure of Your Name to Issuers of Securities 15 Tax & Legal Disclosure 15 The USA PATRIOT Act 15 Understanding Your Brokerage and Investment Advisory Relationships 18 Account Protection 19 FDIC Insurance 19 Business Continuity Management Program and Technology Disaster Recovery Program Overview 21 Trusted Contact Authorization 21 Investing and Trading 23 Summary of Procedures for Certain Syndicate Offerings 24 Market Transition Away from LIBOR 26 Important Information Regarding the Sales and Offers of Sales of Investment Products to U.S. Military Personnel and Their Dependents 26 Important Information for Clients Effecting Short Sales and/or Holding Short Stock Positions 26 Summary of the Bank Deposit Program 30 How Morgan Stanley and Your Financial Advisor Are Compensated 33 Your Account and Service Fees 41 Quarterly Automatic Liquidation of Securities for Outstanding Account and Service Fee Debits 41 Important Information About Certain Investment Product Fees and Other Costs 41 GlobalCurrencySM Accounts 42 Morgan Stanley Reserved Living & Giving 42 Incoming Foreign Currency Wires 43 Morgan Stanley’s Legacy Reinvestment Program 45 Automatic Enrollment in the Morgan Stanley Class Action Service 45 Certain Electronic Fund Transfers 48 Important Disclosures Regarding Your Precious Metals Transactions 51 Lending Services 51 Liquidity Access Line IMPORTANT ACCOUNT INFORMATION (07/2021) GWMINAI PAGE 2 OF 112 GWMINAI NY CS 10025542 07/2021 52 Express CreditLine 53 Tailored Lending 53 Important Risk Information for Tailored Lending, Liquidity Access Line and Express CreditLine 54 Margin 56 Margin Disclosure Statement 57 Lending Preferred Interest Rate for Express CreditLine and Margin 58 Municipal Securities Rulemaking Board Client Education and Protection Brochure 58 Municipal Advisor Rule; Disclosures for Municipal Entities and Obligated Persons 58 Qualified Retirement Plan Distributions 62 Important Rollover Reminder 62 Guidance on After-Tax Distributions From Retirement Plans 62 Important Disclosures for Structured Investments 64 Mutual Fund Features, Share Classes and Compensation 76 ETF Revenue-Sharing, Expense Payments and Data Analytics Fees 78 Fund Liquidity Risk 79 Unit Investment Trusts — Features, Costs and Compensation 82 Closed-End Funds 84 Understanding Variable Annuities 85 Understanding 529 Education Savings Plans and Compensation 91 Alternative Investments 97 Stop Orders and Good-Til-Canceled (“GTC”) Orders 98 Payment for Order Flow and Other Routing Arrangements 99 Notice Regarding the Order Protection Rule 99 Order Handling Rules 100 Notice Regarding Handling of Block Orders Under FINRA’s Front Running Rule 101 Extended Hours Trading Risk Disclosure Statement 102 Treasury Auction Information Handling Disclosure 102 Callable Securities 102 Covering Short Positions Related to a Partial Call 103 Spain Disclosure 103 Minnesota Disclosure Notification 103 Important Message to Residents of Nevada Regarding Access to Fee and Compensation Information 104 For California Residents Age 65 or Older 104 Notice of Escheatment 104 Canadian Addendum to Account Agreements 109 Notification to Swiss Clients 110 Risk & Return IMPORTANT ACCOUNT INFORMATION (07/2021) GWMINAI PAGE 3 OF 112 GWMINAI NY CS 10025542 07/2021 General Information for all Accounts In the event you are considering opening an account with Morgan Stanley or already have an account, this booklet, in conjunction with the Morgan Stanley Client Agreement and all other applicable agreements1, will govern your relationship with Morgan Stanley and/or its direct or indirect subsidiaries, including all account(s) that you, in all capacities, open or maintain now or in the future. It contains important information regarding your account(s) and/or recommendations regarding account types, securities or investment strategies involving securities you may receive. Certain disclosures and/or sections of this booklet may not apply to all of your accounts, depending on the type of account(s) that you have opened and/or the services that you have elected to receive. We request that you carefully read this and all other documents provided to you. Note for International Clients: This information is required by law and is not a promotion of Morgan Stanley’s products and services. Further, not all products and services are available to all non-US residents. References to “MSSB,” “Morgan Stanley,” “Morgan Stanley Wealth Management,” “we,” “us,” or “our” refer to Morgan Stanley Smith Barney LLC. The words “you,” “your,” “yours” and “client” refer to the account owner(s). References in this booklet to “Financial Advisor” refer to either a Morgan Stanley Wealth Management Financial Advisor or a Morgan Stanley Private Wealth Management Private Wealth Advisor. E*TRADE — Acquisition — a note for all clients On October 2, 2020, Morgan Stanley’s purchase of E*TRADE Financial Corporation (“E*TRADE”), a financial services firm that offers online brokerage and other wealth management services, was completed. E*TRADE and its subsidiaries, E*TRADE Securities LLC, a FINRA and SEC registered broker-dealer, and E*TRADE Capital Management, LLC, a Registered Investment Adviser, are now affiliates of Morgan Stanley Smith Barney LLC. For further information, please refer to https://www.morganstanley.com/press-releases/morgan-stanley-closes-acquisition-of-e-trade. Eaton Vance — As Affiliate Morgan Stanley completed its purchase of Eaton Vance, a leading provider of advanced investment strategies and wealth management solutions. Upon close of the transaction, Eaton Vance Corp. and its principal investment affiliates Eaton Vance Management, Parametric, Atlanta Capital and Calvert, became affiliates of Morgan Stanley Smith Barney LLC (MSSB), and the products of Eaton Vance and its principal investment affiliates, including the Eaton Vance Funds and Calvert Funds, became affiliated products of MSSB. For further information, please refer to https://www.morganstanley.com/press-releases/morgan-stanley-to-acquire-eaton-vance. U.S. Customer Privacy Notice September 2020 WHAT DOES MORGAN STANLEY DO FACTS WITH YOUR PERSONAL INFORMATION? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law Why? also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. The types of personal information we collect and share depend on the product or service you have with us. This information can include: What? • Social Security number and income • account balances and transaction history • credit history and assets 1 Including but not limited to the International Client Agreement, CashPlus Account Agreement, Equity Plan Account Client Agreement and the DVP Client Agreement. IMPORTANT ACCOUNT INFORMATION (07/2021) GWMINAI PAGE 4 OF 112 GWMINAI NY CS 10025542 07/2021 WHAT DOES MORGAN STANLEY DO FACTS WITH YOUR PERSONAL INFORMATION? All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial How? companies can share their customers’ personal information; the reasons Morgan Stanley chooses to share; and whether you can limit this sharing. Can you Reasons we can share your personal Does Morgan Stanley limit this information share? sharing? For our everyday business purposes — Yes No such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus For our marketing purposes — Yes No to offer our products and services to you For joint marketing with other financial companies Yes No For our affiliates’ everyday business purposes — Yes No information about your transactions and experiences For our affiliates’ everyday business purposes — Yes Yes* information about your creditworthiness For our affiliates to market to you Yes Yes* For nonaffiliates to market to you No We don’t share To limit our Call the applicable toll-free number below. sharing Morgan Stanley General Number: 1-866-227-2256 Home Loans Only: 1-800-488-5568 • For customers of all products covered by this Notice, other than Home Loans, you can instead talk to your Financial Advisor, Private Wealth Advisor or Client Service Associate Please note: If you are a new customer, we can begin sharing your information 30 days from the date we sent this notice. When you are no longer our customer, we continue to share your information as described in this notice. However, you can contact us at any time to limit our sharing. QUESTIONS? Call toll-free (866)-227-2256, or for Home Loans, call (800)-488-5568 WHO WE ARE Who is Morgan Stanley Smith Barney LLC providing this Morgan Stanley Private Bank, National Association notice? Morgan Stanley Bank, N.A. WHAT WE DO How does To protect your personal information from unauthorized access and use, Morgan Stanley we use security measures that comply with federal law. These measures protect my include computer safeguards and secured files and buildings.
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