Initial Public Offerings (iPod)

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			Fidelity offers qualified brokerage customers the opportunity to participate in equity new issue offerings, including IPOs and follow-on offerings from Kohlberg Kravis Roberts & Co. (KKR) and multiple other underwriters. See details on our complete IPO offering. To qualify for traditional IPOs led by KKR, you must either trade 36 times a year, have $100,000 in certain assets^* at Fidelity or be a member of Premium Services. To qualify for traditional IPOs led by Underwriters other than KKR, you must either trade 36 times a year, have $500,000 in certain assets^* at Fidelity or be a member of Premium Services. To qualify for Auction IPOs and traditional follow-on offerings, you must either trade 36 times a year, have $100,000 in assets^* or be a member of Premium Services. See previous IPOs and secondary equity offerings. Fidelity's practice regarding customers' investment decisions has never changed: We do not, and will not, offer investment advice or evaluate the merits of any individual IPO or any security trading on the secondary market. Our philosophy is to allow customers to make their own investment decisions based on their individual investment objectives, risk tolerance, financial situation, and their evaluation of the merits of the security. ^* Eligibility for participation in traditional IPOs led by Kohlberg Kravis Roberts & Co. (KKR) is reserved for brokerage customers with a minimum of $100,000 in certain assets at Fidelity. Other providers of traditional IPOs, and other equity public offerings made through Fidelity may be reserved for brokerage customers with a minimum of $100,000 or $500,000 in certain assets at Fidelity. Auction OpenIPOs and Secondary offerings made available through Fidelity are reserved for brokerage customers with a minimum of $100,000 in certain assets held at Fidelity. Members of Premium Services or customers who have placed 36 or more stock, fixed income, or option trades in a rolling 12-month period are eligible for either traditional or auction based offerings. The $500,000 or $100,000 requirement and 36 trade thresholds will be determined weekly by aggregating all assets and trades in retail accounts which list the same name and Social Security number and are maintained by Fidelity Service Company, Inc. or Fidelity Brokerage Services LLC (excluding assets or trades maintained on behalf of any divisions of Fidelity Investments Institutional Services Company, such as 401(k) or 403(b) plan assets). Other assets may be included in the calculation at our discretion. In addition, an account in which an indication of interest is entered must have at least $2,000 in cash or fully paid securities.

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What You Can Trade: IPOs