Callable Securities Disclosures
For securities that may be called in part, Wells Fargo Clearing Services, LLC (WFCS) uses an impartial lottery process to determine which securities will be called. The impartial lottery process uses a mathematical formula that will allocate among our customers the securities selected to be called on a fair and impartial basis. For calls deemed favorable to the called parties, Wells Fargo Clearing Services, LLC shall not allocate the securities to any account in which it or its associated persons have an interest until all of our other customers' positions in such securities have been satisfied. For calls deemed unfavorable to the called parties, Wells Fargo Clearing Services, LLC shall include its positions and those of its associated persons in the pool of securities eligible to be called.
Effective May 1, 2014