PSOP - About Rights Subscriptions

The Rights Subscriptions application allows you to transmit subscription instructions to DTC to:

• Accept an offer by surrendering rights and making the required subscription payment.
• Accept an offer by means of a Notice of Guaranteed Delivery (also referred to as a "protect") and subscription payment.
• Surrender rights after having accepted an offer by means of a Notice of Guaranteed Delivery, submitted via the Rights Subscriptions application or delivered directly to the Agent (also referred to as a "cover of protect").
• Surrender rights for the purpose of selling them through the Agent.

The Rights Subscriptions application also allows you to exercise any step-up or oversubscription privileges when submitting instructions to accept a rights offer. Use the information in the Rights Subscriptions application in conjunction with the corresponding Reorganization Inquiry For Participants (RIPS) envelopes (identified by activity code 59 and the rights CUSIP number) to perform your subscription activities.

The Rights Subscriptions application is available for the submission of instructions between 8:00 a.m. and 2:15 p.m. eastern time on the dates specified unless otherwise specified in the corresponding envelope.

Note

You must access both RIPS and Rights Subscriptions application to obtain accurate information about the terms of the subscription offer. On the date DTC designates as the last day that you can submit instructions through Rights Subscriptions application for a given offer, DTC may establish a different cutoff time, depending on the terms of the rights offer and procedural arrangements made by DTC and the Agent. This cutoff time, along with the date and instruction type to which it applies, are specified in the information about the rights offer in the function.

You can access this service through the PBS Home page –> Corporate Actions Services –> Instructions and Inquiries–> Rights Subscriptions.