![]() The proceeds from a LOC (including draws and other advances) may not be used to purchase, trade, or carry margin stock repay margin debt that was used to purchase, trade, or carry margin stock and cannot be deposited into an E*TRADE Securities LLC, Morgan Stanley Smith Barney LLC or other brokerage account. Morgan Stanley Private Bank, National Association is a Member FDIC that is primarily regulated by the Office of the Comptroller of the Currency. The information contained herein should not be construed as a commitment to lend. To be eligible for a LOC, a client must have a brokerage account at E*TRADE Securities LLC that contains eligible securities, which shall serve as collateral for the LOC. If any of the pledged collateral for your Line of Credit is held in a managed portfolio, failure to satisfy a maintenance call may result in the termination of any applicable advisory agreement. Rates, terms and conditions are subject to change without notice. LOC may not be available in all locations. ![]() Your interest rate will increase or decrease based on changes in the index. The margin, or interest rate spread, is a percentage above the index. The SOFR rate may be reset every business day (or the following business day in event of a holiday). The index is currently the sum of two components: 1) the 30-day rolling compounded average Secured Overnight Financing Rate (SOFR), as published by the Federal Reserve Bank of New York and 2) a variable rate adjustment. Other bank fees that may apply can be found here. Your interest rate will be a variable rate based on an index plus a margin. A processing fee, currently $10, will be charged for Line of Credit payments made by check. The APR (Annual Percentage Rate) is calculated based on a 360-day year and includes both the interest rate and certain fees and other charges related to the loan. ![]() All LOC lines of credit are subject to the underwriting standards and independent approval of Morgan Stanley Private Bank, National Association. ![]() Line of Credit (“LOC”) is a securities based line of credit product, the lender of which is Morgan Stanley Private Bank, National Association, an affiliate of E*TRADE Securities LLC and Morgan Stanley Smith Barney LLC. To avoid a $15 monthly fee, the account holder must 1) set up a direct deposit of $200 or more per month to the account, or 2) maintain an average monthly balance of at least $5,000 in the account on or after the end of the second statement cycle, or 3) maintain an average monthly balance of at least $50,000 in linked Morgan Stanley Private Bank, National Association accounts on or after the end of the second statement cycle, or 4) have a combined balance of $50,000 or more in linked E*TRADE Securities and employee stock plan accounts (including vested in-the-money options, stock option plan shares, ESPP shares, and released restricted stock) on the date the monthly fee is charged, or 5) have executed at least 30 stock or options trades during the prior calendar quarter in your linked E*TRADE Securities account(s). No minimum deposit is required to open a new account. Rates are subject to change daily and fees may reduce earnings. As of, the Annual Percentage Yield (APY) of the Max-Rate Checking Account is 0.05% for balances of $50,000 or more, 0.05% for balances of $5,000 - $49,999, and 0.05% for balances of less than $5,000.
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