DISCLOSURE

The Private Banking and Investment Group is a division of Merrill Lynch that offers a broad array of personalized wealth management products and services. Both brokerage and investment advisory services (including financial planning) are offered by the Group's Private Wealth Advisors through Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S), a registered broker-dealer and registered investment advisor. The nature and degree of advice and assistance provided, the fees charged and client rights and Merrill Lynch's obligations will differ among these services. Investment products offered by MLPF&S are not insured by the FDIC and are not guaranteed by Merrill Lynch or any of its affiliates. The banking, credit and trust services sold by the Group's Private Wealth Advisors are offered by licensed banks and trust companies, including Merrill Lynch Bank USA (member FDIC) and Merrill Lynch Trust Company, FSB, or their affiliates. Investments involve risk, including the possible loss of principal investment.

Programs, options and property types are not available in all states and are subject to change without notice. Loans are offered on properties in all 50 states, the District of Columbia and the U.S. Virgin Islands. Additional terms, conditions, restrictions, and costs apply. Merrill Lynch, its affiliated entities, and their employees may receive compensation for its products and services. All residential mortgage programs are offered and funded by Merrill Lynch Credit Corporation ("MLCC"), 4802 Deer Lake Drive East, Jacksonville, FL 32246-6484; toll-free telephone: 800-854-7154. AZ License BK-10071; CA Real Estate Broker's License 00831469 – CA Department of Real Estate (916) 227-0931; IL Residential Mortgage Licensee; MA Mortgage Lender License ML1436 & ML2078; Licensed by the New Hampshire Banking Department; Licensed by the NJ Department of Banking and Insurance; RI Licensed Lender. This is not an offer to enter into a rate lock-in agreement under Minnesota law. An offer may only be made in writing. MLCC is a primary and secondary mortgage lender. Merrill Lynch, Pierce, Fenner & Smith Incorporated, 4 World Financial Center, New York, NY 10080, toll-free telephone: 800-338-2814, Member, Securities Investor Protection Corporation (SIPC), does not make commitments for or fund loans. AZ License MB6054; GA Residential Mortgage Licensee; MA Mortgage Broker License MB0825; MA Small Loan Lender License SL0735 (we arrange but do not make loans); Licensed by the New Hampshire Banking Department; Licensed by the NJ Department of Banking and Insurance; Registered Loan Solicitor - NYS Banking Department; RI Licensed Loan Broker.