Note
Investors in the market-linked GICs are hereby advised that DowDuPont Inc. (NYSE : DWDP) whose common shares are Reference Shares in the Reference Portfolio, changed its name for DuPont de Nemours, Inc. on June 1, 2019. It must also be noted that DuPont de Nemours, Inc.’s common shares began trading on the New York Stock Exchange under the new ticker symbol “DD” as of June 3, 2019. On November 16, 2020, Pfizer Inc. (NYSE: PFE) (“Pfizer”) completed the transaction to spin-off its Upjohn division and combine it with Mylan N.V. (Nasdaq: MYL) to form Viatris Inc. (Nasdaq: VTRS) (“Viatris”), triggering a Potential Adjustment Event as per the terms and conditions of the market-linked GICs in respect of the common shares of Pfizer, a Reference Share in the Reference Portfolio of the market-linked GICs. As stockholders received common shares of Viatris, they were sold and reinvested in common shares of Pfizer. As a result, the Initial Value of the common shares of Pfizer was adjusted as of the closing of the markets on November 16, 2020. On April 5, 2022, AT&T Inc. (NYSE: T) (“AT&T”) completed the transaction to spin-off its WarnerMedia business. AT&T shareholders received common shares of Warner Bros. Discovery, Inc. (Nasdaq: WBD) (“WBD”). WBD is the result of the transaction to combine WarnerMedia with Discovery, Inc. (Nasdaq: DISCA, DICSB, DISCK). This event triggered a Potential Adjustment Event as per the terms and conditions of the market-linked GICs in respect of the common shares of AT&T, a Reference Share in the Reference Portfolio of the market-linked GICs. The Initial Value of the common shares of AT&T was adjusted accordingly as of the closing of the markets on April 11, 2022.
On November 3, 2021, International Business Machines Corporation (NYSE: IBM) (“IBM”) announced the completion of its separation from Kyndryl Holdings, Inc. (NYSE: KD) (“Kyndryl”). Starting on November 4, 2021, Kyndryl will be traded on the New York Stock Exchange under the symbol “KD”. IBM completed the spin-off of Kyndryl by the special distribution of one share of Kyndryl’s common stock for every 5 shares of IBM’s common stock held. This event triggered a Potential Adjustment Event as per the terms and conditions of the market-linked GICs in respect of the common shares of IBM, a Reference Share in the Reference Portfolio of the market-linked GICs. As such, the Initial Value of the common shares of IBM was adjusted as of the closing of the markets on November 3, 2021.