|Debit Balance||Interest Rate||Rate as of 03/16/2020|
|$0-$50,000||FF + 5.00%||5.25%|
|$50,001-$100,000||FF + 4.25%||4.50%|
|$100,001-$500,000||FF + 3.25%||3.50%|
|Greater than $500,000||FF + 2.90%||3.15%|
Note: Rates are subject to change. They are updated only when the Fed fund increases or decreases.If you choose to borrow funds from Pershing, you will need to open a margin account with Pershing through your financial organization. The securities purchased are used as collateral for the loan that was made to you or any other indebtedness arising after the initial transaction. If the securities in your brokerage account decline in value, so does the value of the collateral supporting your loan. As a result, your financial organization or Pershing can take action. For instance, your financial organization or Pershing can issue a margin call and/or sell securities or liquidate other assets in any of your brokerage accounts held with your financial organization or Pershing in order to maintain the required equity in the margin account.