Chuyên đề môn thị trường cho thuê tài chính pps
Bạn đang xem bản rút gọn của tài liệu. Xem và tải ngay bản đầy đủ của tài liệu tại đây (477.79 KB, 29 trang )
!"#$%
!"#$%&
&'()'(
*+,(-& '''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''(
).-/0'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''')*
(123+4)56(5.(708(9''''''''+
&',-./0
''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''+
%'12'''''''''''''''''''''''''''''''''''''''''''+
('340''''''''''''''''''''''''''''''''''''''''''''''''+
('&"56789!:'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''+;
('%<=>!?!:@"A778<B!''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''C
('(D"E#!:"EF!:@"A778<B!''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''G
(123:5.(708(9'''''''''''''''''''''''''''''''&%
&'H04IJ'''''''''''''''''''''&%
&'&"A<!<K>' '''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''&%
&'%L6M<B>'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''&%&*
%'DN''''''''''''''''''''''''''''''''''''''''''''''''&*
%'&"7"OP7Q<6"R!"%SP!''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''&*
%'%"7"OP7Q<6"R!"(SP!''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''&+&;
%'(A<6"7"OP'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''&;&C
%')"7"OP:<A@TE!:' ''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''&C&G
%'*"7"OP"U@7A6'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''&G%
('V''''''''''''''''''''''''''''''''''''''''''''''''%&
('&NW@"XY#M=!:"Z7Q<78U''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''%%
('%D"[!7R6"7R!\]!:'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''%%%(
('(=!:"Z7^<78U''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''%(
(')"7"OP_:<^<!:[!`''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''%(
('*<A>YA7a<K6Yb\]!:aQcO^!Td7Q<Y^!''''''''''''''''''''''''''''''''''''''%(%)
('+.bTdef"<6"g>\h7"U@MX!:6"7"OP'''''''''''''''''''''''''''''''''''%)%*
)'Ni'''''''''''''''''''''''''''''''''''''''''''''''''''''''%*
)'&4F<SP!M<7"OP''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''%*
)'%4F<SP!6"7"OP'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''%*%+
)'(j<aF<!=!f<!"7k'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''%+
);0*&<=7'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''%;
+ &++ >? (@A "B
& C*)&C NP"ZOk!" "l>@"l &%%C)+))*
% C*)&+% NP"Z9!" &%&+GC;&C;
( C*)&GC <=OQ!:<!""m "l>78En!: &+C()C+&&)
) C*)&&( :Oop!Q!:"m!" &+C()*GC+*
* C*)&&(G :Oop!"Z8q6m< G;G&%%&+
+ C*)&&) :Oop!"Z8q6m< &+*+&;;()
; C*)&&)& 8 !4?!r< &+G))G)()
C C*)&&)% st<4u9!" G((;&C;&&
G C*)&&)( L!:"Z8Q< G;%+*G(++
& C*)&&)) <k7"m!"v!: G)(***(;
).-/0
j6Mv7?!:78En!:f<!"7k6wm4<K7m>MrTQMv!:6#7"q6Mxo6A6\m!"
!:"<K@M O7E>n8v!:Y^!yOg7$"<K!M9<"lm6A6\[o6"Oo=!aQ6z!:!:"KY^!
yOg7'8!:>v77"{<:<m!\Q<78EF6M[o$6A6\m!"!:"<K@Mr"En!:TU<7|a<K6
69!"78m!":<}m6A6:[!"Q!:"E#!:>9<\~!Mk!7•!"789!:!F<T€!:6#6"ky•7
\OoK77R!\]!:aQ:<^>7‚TKTU<!"OW!S<P!7k6wm>v7Yj!:[!"Q!:!"ƒ>7"O"q7
f"A6""Q!:aQ:<m7?!:Yj\E!Uamo'8!:7E#!:Tm<f"<6A6!:[!"Q!:7"E#!:
>9<4<K7m>\EF<A@T567O[!7"w6A6cOoMZ!"78!:cO^!Td!:[!"Q!:7"„
7"z!:TKcOj67kY…@"^<6x!78†!:"#!78!:6A6cOok7MZ!"6g@7R!\]!:6wm>•!"'
4•aWo$f"^!?!:7<k@6W!!:OX!aj!amo78Oo=!7"j!:7|6A6:[!"Q!:"E#!:
>9<Y…@"^<7O[!7"w7"„6A6cOoMZ!"7"x>MZ!"f"‡7f"„"#!a•7"k6A6\m!"
!:"<K@@"^<7•>Mk!>v7\Z6"a]>m!:7R!"Mm!?!:"#!aQ6l!"}!:oPO6 OR6"
f"‡6f"„"#!'
4•aWo$!"O6 Oa=6"7"OP7Q<6"R!"!:Qo6Q!:7?!:$f"<6A6oPO6 Oa=Mˆ<
>F<78m!:7"<k7SZ6wm6A6!:Qo6Q!:!"<=O$MX!:7"{<6A66#6"k6"R!"YA6"
!:Qo6Q!:"Q!7"<K!798mf"O!:@"A@Td6"6A66z!:7o6"7"OP7Q<6"R!"@"A7
78<B!m!7Q!$S=!a}!:'
emOf"<4<K7m>78n7"Q!"7"Q!"a<P!6"R!"7"h66wmˆ6"h6"E#!:>9<
"k:<F<_‰`$!"O6 OMˆ<>F<78m!:7"<k7SZ$>Ao>l66wm6A6\m!"!:"<K@MB
7?!:cOo>z$78•!"MvY^!yOg7$6"g7TEU!:Y^!@"x>$!?!:T5669!"78m!"Mr798m
>v76#"v<8g7TF!Mj<aF<TŠ!"a566"7"OP7Q<6"R!"'
Oo!"<P!$6A6\m!"!:"<K@!P!y„>y•7a<K6Yb\]!:"97Mv!:6"7"OP7Q<
6"R!"!"ETQ>v778!:!"}!:6A6"MB7X!79<aQ@"A778<B!a•\t>Oj!"mof"z!:
>Oj!7"•\m!"!:"<K@6u!:@"^<aEU7cOm:<m<M9!f"lf"?!Tq6!Qo$a<K6Yb
\]!:6"7"OP7Q<6"R!"7Oo6"<@"R6m!"E!:\m!"!:"<K@Y…:<^<cOok7MEU6ag!
M=TEOMv!:$6"EmfBa=T[O\Q<7Q<Y^!M<7"OPY…TQ7Q<Y^!6wm\m!"!:"<K@'
7"Z78E{!:Q<6"R!"78P!7"k:<F<Mr6l!"<=OSEF6@"A778<B!>9!">‹
!"E!:7"Z78E{!:Q<6"R!"n4<K7m>6Œ!f"A>F<>‹aQ6Œ!:L@!"<=Of"lf"?!
78!:cOA78•!"@"A778<B!'
BS<k77"P>a=7"Z78E{!:6"7"OPQ<6"R!"78P!7"k:<F<aQn4<K7m>Mr6l
!"}!:SEF6@"A778<B!8mYmO$cO<78•!"6"7"OPQ<6"R!"!"E7"k!Q$!"}!:7"OW!
TU<aQf"lf"?!>Q7"Z78E{!:Q<6"R!"n4<K7m>:L@@"^<MBMEm8m:<^<@"A@
aQ@"E#!:"EF!::<^<cOok76A6ag!M=:L@@"^<n7"Z78E{!:6"7"OPQ<6"R!"n
4<K7m>'
(123
+4)56(5.(708(9
C3DE3FGDH"DIJ
"7"OPQ<6"R!"Mr6l7|T[O$7"„8<Y7T„7|!"}!:!?>(C)(%%78EF66z!:
!:OoP!f"A<!<K>7"OP7Q<Y^!Mj<aF<!:E{<M<7"OPTQY56 !7"<k7f"A6"cOm!6wm
!=!Y^!yOg7yr"v<'•!:"Šm6wm7|Ž7Q<Y^!•!l<6"O!:TQag!M=Yb\]!:!l$6"h
f"z!:@"^<ag!M=Yn"}O!laQ6"R!"a<K6Yb\]!:7Q<Y^!>F<798m6wm6^'•&$&‘
:C("DIJ!3K
"OP7Q<6"R!"TQ>v7"•!"7"h6Mm!:MEU6A@\]!:@"ˆS<k!n!"<=O!EF678P!
7"k:<F<!"E’$"W7s^!$“h6$"]o“<B!$”6'''N9<"•!"6"7"OP7Q<6"R!"Mr
MEU6>v7Yj6z!:7o7Q<6"R!"MEm8m7"Z78E{!:7Q<6"R!"aQ!"}!:!?>6Oj<
!"}!:!?>*M O!"}!:!?>+6wm7"kf‚%aF<7P!:†<TQ7"OP7Q<6"R!"'
"Z78E{!:6"7"OPQ<6"R!"MryOg7"<K!M O7<P!n>’!?>&G*%YmOMl@"A7
78<B!>9!"n6A6!EF66"[O[O'"Z78E{!:!Qo!:Qo6Q!:Tm!8v!:Ym!:6A6!EF6
6"[OHaQ6l^!""En!:>9!">‹Mk!4<K7m>'
9<’$!:Q!"6"7"OP7Q<6"R!"6"<k>f"^!:%*(•7ˆ!:Yj7<=!7Q<78U6"
6A6:<m\Z6">OmSA!7"<k7SZ"Q!:!?>6wm6A6\m!"!:"<K@'m!"7"O7|"97
Mv!:6"7"OP7Q<6"R!"78O!:S•!""Q!:!?>nQ!Oj6TQ&;7–e$n"A<Nm!
(7–e'''4Q7ˆ!:\m!"7"O"Q!:!?>6wm!:Q!"!QoEF67R!"M9778P!*7–
eaF<MQ7?!:78En!:78O!:S•!";•"Q!:!?>'•&$&‘
$C("DIJLM
$CNB3
L6 \t6" 7"OP7Q< 6"R!" TQT9< "•!" 6g@ 7R! \]!: 78O!: aQ\Q< "9!
f"A@"ˆS<k!78P!7"k:<F<aQ6l!"<=OTU<7"k69!"78m!"$7Oo!"<P!$"#!&!?>
6l>L7'8P!7"Z78E{!:4<K7m>"<K!6l&(6z!:7o6"7"OP7Q<6"R!"Mm!:"97
Mv!:':Q<8m$6l8g7!"<=O6A66z!:7o7Q<6"R!"$cO’M O7EMraQMm!:7<k@7]6
MEU6@"A778<B!>9!">…78!:7"{<:<m!7F<'
<P!:a=f"Rm69!"6O!:h!:aj!7"z!:cOmfP!"6"7"OP7Q<6"R!""mo6l7"B
"<BO6"7"OP7Q<6"R!"!"E>v7"97Mv!:7Q<78Uaj!78O!:aQ\Q<"9!'
4j!M<=OTK78O!:S•!"6wm>v7\m!"!:"<K@6"7"OP7Q<6"R!"TQ&*7–MX!:
8g7!"€YaF<aj!M<=OTK6wm6A6!:[!"Q!:7"E#!:>9<_7"E{!:TQ78P!&'7–
MX!:`'4Q"<K!6l!"<=O\m!"!:"<K@"97Mv!:f"z!:"<KOcO^'
"„:"ZMZ!"a|mSm!"Q!"YjG*—%C—DYbmMˆ<$SˆYO!:>v7YjM<=O
6wm:"ZMZ!"Yj&+—%&—D!:Qo%—*—%&a=7ˆ6"h6aQ"97Mv!:6wm6z!:
7o6"7"OP7Q<6"R!"$6z!:7o6"7"OP7Q<6"R!"TQ>v77ˆ6"h67R!\]!:@"<!:[!
"Q!:$TQ@"A@!"[!4<K7m>˜MEU67"Q!"TW@aQ"97Mv!:79<4<K7m>\EF<(
"•!"7"h6™6z!:7o6"7"OP7Q<6"R!"78A6"!"<K>"}O"9!"m<7"Q!"a<P!78nTP!˜
6z!:7o6"7"OP7Q<6"R!"78A6"!"<K>"}O"9!>v77"Q!"a<P!aQ6z!:7o6"7"OP
7Q<6"R!"6ˆ@" !'
A66"w7"B6l!"O6 O7"OP7Q<6"R!"78P!7"Z78E{!:6"7"OP7Q<6"R!"TQ6A6
\m!"!:"<K@$6A67ˆ6"h6f<!"7k$"vf<!"\m!"$'''aQ6A!"[!"97Mv!:78!:
!"<=OTŠ!"a56$!:Q!"!:"=f"A6!"mO'Oo!"<P!$7"567k7"•f"A6""Q!:M<7"OP
6"wokOTQ6A6\m!"!:"<K@"97Mv!:78!:TŠ!"a56aW!7^<aQy[o\5!:'
Oo6l!"<=O@"E#!:7"h6:<m\Z6"6"7"OP7Q<6"R!"!"E!:78P!7"Z78E{!:
6"7"OP7Q<6"R!"4<K7m>"<K!!mo@"ˆS<k!6l(@"E#!:7"h6™
D"E#!:7"h6:<m\Z6"(SP!'
D"E#!:7"h6:<m\Z6"%SP!'
D"E#!:7"h6:<m\Z6">OmaQ6"7"OPT9<_SA!aQ7A<7"OP`'
<A6^"<K!!mo7"E{!:6m"#!YaF<6A6T9<"•!"7R!\]!:f"A6$6"Em
"g@\~!MEU66A6f"A6""Q!:7"OP'Nr<YOg76"7"OP7Q<6"R!"6m"#!YaF<Tr<
YOg76"amo78O!:\Q<"9!7|%•Mk!%*•aQ6m"#!&•!kO7Q<Y^!MEU6>Om
Y‡>78567<k@7|!"QY^!yOg7'•($&‘
$C:OP3Q#NR
L6\t6"7"OP7Q<6"R!"MryOg7"<K!n4<K7m>78P!&!?>!"E!:a~!
6"Em6l!"}!:a?!S^!TOW76u!:!"E6"R!"YA6"MX!:Sv!"ƒ>f"Ook!f"R6"T9<
"•!"!Qo7"56Y5@"A7"Oo"k7"<KOcO^'Oo!"<P!$6A6\m!"!:"<K@4<K7m>ML6
S<K7TQ6A6\m!"!:"<K@a|maQ!"€MrS<k7Mk!T9<"•!"\Z6"a]!QoaQMrS‡7M O
Yb\]!:6"7"OP7Q<6"R!"!"E>v76z!:6]7Q<6"R!"@"]6a]!"O6 O@"A778<B!
f<!"\m!"6wm>•!"'
L6S<K778!:aŒ!:7|"m<Mk!Sm!?>78nT9<M[of"<!=!f<!"7k4<K7m>
7"56Y56"OoB!>•!"aQ78n7"Q!"M<B>Mk!"g@\~!6wm!"<=O!"QM O7E7"•6"
7"OP7Q<6"R!"Mr6l6#"v<MB7"B"<K!"k7!"}!:EOM<B>6wm>•!"'u!:!"E
!"<=O!:Q!"!:"=f"A6$!:Q!"6"7"OP7Q<6"R!"Mm!:6"h!:f<k!!"}!:6#"v<
!:Q!!?>6l>v7MB@"A778<B!TP!>v77 >6m>F<'
j6Mv7?!:78En!:f<!"7k6wm4<K7m>MrTQMv!:6#7"q6Mxo6A6\m!"
!:"<K@M O7E>n8v!:Y^!yOg7$"<K!M9<"lm6A6\[o6"Oo=!aQ6z!:!:"KY^!
yOg7Y…TQ>6"7"Z78E{!:6"7"OP7Q<6"R!"6wm4<K7m>@"A778<B!!"m!"78!:
>v7aQ<!?>7F<M[o'
B![!:6m7R!"6"OoP!>z!"lm78!:6A6\Z6"a]6wm!:[!"Q!:aQ:<^>
7"<BO8w<87"•6A6:[!"Q!:"E#!:>9<Y…7<k!7F<a<K67W@78O!:@"A778<B!6A6
\Z6"a]6wm>•!"aQ6"OoB!\ !"97Mv!:6"amoM O7E7"<k7SZ6"6A66z!:7o
6"7"OP7Q<6"R!"78567"Ov6Y…TQMv!:T566"Y5@"A778<B!6wm!:Q!"6"7"OP7Q<
6"R!"6wm4<K7m>'
"P>aQMlaF<Y5"g@\~!6wm!=!f<!"7k4<K7m>6u!:!"Ea<K66^<6A6"
6"O78•!"6g@:<go@"•@f<!"\m!"$78!:aŒ!:*!?>7F<YjTEU!:\m!"!:"<K@
>F<7"Q!"TW@Y…8m7?!:!"m!"6"l!:aQM[o6"R!"TQ!"[!7jfR6"7"R6"Y57?!:
78En!:6wm7"Z78E{!:6"7"OP7Q<6"R!"4<K7m>'•($&‘
$C$S1231K3Q#NR
5A!Y^!yOg7f<!"\m!"6l7R!"f"^7"<$![!:6m"<KOcO^cO^!TdYb\]!:
aj!78!:6A6\m!"!:"<K@˜
"m!"7A!7<=!7"OPM oMwaQMq!:"9!'•*$&‘
!
?!:6E{!:!:OX!aj!Sƒ!:6A6"@"A7"Q!"78A<@"<kOaQ6A6:<go7{6l:<A
f"A6˜OoMv!:7<=!:b<6lfš"9!7|>v7!?>78nTP!˜"m<7"A6!:OX!"Q!:78^
6"W>7|6A6!"Q6O!:6g@!EF6!:Q<'
n8v!:>9!:TEF<f<!"\m!"$y[o\5!:6"<k!TEU6f"A6""Q!:aQ"Q!:"A
6"7"OP'D"A778<B!\Z6"a]7Eag!>Ao>l67"<k7SZ'N<P!fk7aF<6A66z!:7oY^!
yOg778m!:7"<k7SZMBMEm8mfk"96"cO^!:SAa="97Mv!:6u!:!"EY^!
@"x>6wm6z!:7oY^!yOg7Mk!f"A6""Q!:'
B7"56"<K!!"}!:M<=O78P!7"•6A66z!:7oQ<6"R!"@"^<7"56"<K!6A6M<=O
YmO™
v7TQ™D"A778<B!!:"<K@a]6"7"OP7Q<6"R!"@"^<78P!6#YnMm\9!:"A
6A6!:"<K@a]f<!"\m!"7<=!7KaQ@"A778<B!MX!:Sv6A6T9<7"Z78E{!:$ML6S<K7
TQ7"Z78E{!:aj!aQ7"Z78E{!:6"h!:f"A!'
m<TQ™D"A778<B!!:"<K@a]7"OP7Q<6"R!"\5m78P!6#YnY5"•!"7"Q!"
aQ@"A778<B!6wm6A6\m!"!:"<K@7"„"EF!:Mm\9!:"AT9<"•!"Yn"}O$Mm
!?!:"A!v<\O!:"97Mv!:'
smTQ™Q!7"<K!aQ@"A778<B!6"7"OP7Q<6"R!"4<K7m>@"^<\5m78P!
>v7"K7"j!:6A6a?!S^!cOo@"9>@"A@TOW7"Q!6"–!"$MX!:Sv$M#!:<^!$\p
"<BO$\pTQ>$\pf<B>78m'"m>f"^aQaW!\]!:6l6"†!T†66A6EO7"kaQ6"Ox!
>566wmcOj67ka=6"7"OP7Q<6"R!"'•*$&‘
4g!M=cO^!Td7Q<Y^!7"OP'BM^>S^m!7Q!"97Mv!:6"6A66z!:7o
6"7"OP7Q<6"R!"$7"„f<!"!:"<K>6wm!"<=O!EF6$6 !@"^<M?!:fdcOo=!Yn
"}O7Q<Y^!6"7"OP$78A!"78E{!:"U@SP!7"OPYb\]!:7Q<Y^!6"7"OPaQ>]6
MR6"6 >6j$7"k6"g@aQSA!'''
!6l6"R!"YA6"><p!$:<^>7"OkMB79M<=Of<K!6"6A66z!:7o6"7"OP
7Q<6"R!"A@\]!:Tr<YOg76"7"OP@"t"U@$MwYh669!"78m!"78P!7"Z78E{!:!"E
7"OkyOg7!"W@f"xO$7"Ok6"OoB!!"EU!:cOo=!Yn"}O7Q<Y^!$7"Ok7"O!"W@
\m!"!:"<K@Mj<aF<"97Mv!:6"7"OP'
eF>"•!"7"Q!"6A678O!:7[>:<m\Z6"$>OmSA!>Ao>l6$7"<k7SZ6u'"<fk7
7"q6"U@MX!:6"7"OP7Q<6"R!""L6a•Td\!QMl"U@MX!:6"7"OP7Q<6"R!"
fk77"q678EF6"9!$MB7•>MEU6>v7f"A6""Q!:>F<7"OPT9<>Ao>l6$7"<k7SZ!Qo
cO^TQ>v7a<K6f"lf"?!'4<K6"•!"7"Q!"6A678O!:7[>>z<:<F<$>OmSA!$f<!"
\m!"7"<k7SZ6u:<q@7"A:›f"lf"?!6"6A66z!:7o6"7"OP7Q<6"R!"78!:
a<K67"O"X<aj!'•*$&‘
"#$%&'!'(!
v7Yj:<^<@"A@6"wokO!"ƒ>"Q!7"<K!aQ@"A778<B!!:"<K@a]6"7"OP7Q<
6"R!"n!EF67m™
<k@7]6"Q!7"<K!6A6M<=Of<K!6wm>v7:<m\Z6"6"7"OP7Q<6"R!"'"„
6A6a?!S^!"<K!"Q!"$>v7:<m\Z6"6"7"OP7Q<6"R!"7"^>r!6A6M<=Of<K!TQ™
"<fk77"q67"{<"9!6"7"OP7"„"U@MX!:$SP!7"OPMEU6cOo=!Yn"}O7Q<Y^!
7"OP"L67<k@7]67"OP7"„Y57"€m7"OW!6wm"m<SP!'BMEU6cOo=!Yn"}O7Q<
Y^!7"OP$SP!7"OP>OmT9<7Q<Y^!7"OP7"„:<A\m!"!:"Šm7"g@"#!:<A78Z7"567k
6wm7Q<Y^!7"OP79<7"{<M<B>>OmT9<'"{<"9!6"7"OP>v77Q<Y^!R7!"g7@"^<
Sƒ!:+•7"{<:<m!6 !7"<k7MBf"gO"m7Q<Y^!7"OP'ˆ!:Yj7<=!7"OP>v7T9<
7Q<Y^!cOoMZ!"79<"U@MX!:7"OPR7!"g7@"^<7E#!:ME#!:aF<:<A6wm7Q<Y^!Ml
78P!7"Z78E{!:aQ7"{<M<B>fd"U@MX!:'"EaWo$78!:6A6a?!S^!"<K!"Q!"
6 !@"^<SˆYO!:7"P>cOoMZ!"a=a<K6SP!7"OP6lcOo=!Yn"uO7Q<Y^!7"OPaQ
7"{<M<B>fk77"q67"{<"9!7"OP'
sP!7"OPaQ6A6Mj<7A678!:6"7"OP7Q<6"R!"™
8!:6A6a?!S^!"<K!"Q!"$œSP!7"OPœ6"–TQ6A6\m!"!:"<K@MEU67"Q!"
TW@7"„@"A@TOW74<K7m>'4WoœSP!7"OPœTQ>†<7ˆ6"h6$M#!aZaQ6A!"[!
6"h!:><!"MEU6f"^!?!:7"m!"7A!7<=!7"OP6wm>•!"'
A6Mj<7A67"m>:<m7"Q!"TW@6z!:7o6"7"OP7Q<6"R!"f"z!:!P!\|!:
T9<n6A6\m!"!:"<K@78!:!EF6>QSˆYO!:7"P>Mj<7A67"m>:<m7"Q!"TW@TQ
6A6\m!"!:"<K@!EF6!:Q<$a<K66A6\m!"!:"<K@f"z!:@"^<TQ7ˆ6"h67R!
\]!:7"m>:<m7"Q!"TW@6z!:7o6"7"OP7Q<6"R!"Mr78n!P!f"A@"ˆS<k!n!"<=O
!EF6'aWo$Y57"m>:<m6wm6A6\m!"!:"<K@!EF6!:Q<78!:Mj<7A66wm6A6
6z!:7o6"7"OP7Q<6"R!":<q@6"6A66z!:7o6"7"OP7Q<6"R!"78!:!EF67<k@
6W!!"m!"aF<!:OX!>Ao>l67"<k7SZaQ6z!:!:"K"<K!M9<78P!7"k:<F<'Oo
!"<P!$Mj<7A6TQ6A67ˆ6"h67R!\]!:78!:6z!:7o6"7"OP7Q<6"R!"@"^<6"<k>7‚
TKaj!MwTF!MB6"<@"j<"97Mv!:6wm6z!:7o'•*$&‘
(123:
5.(708(9
C<#ITUTR"DIJ
C<#
"7"OP7Q<6"R!"TQ"97Mv!:7R!\]!:78O!:aQ\Q<"9!7"z!:cOma<K66"
7"OP>Ao>l6$7"<k7SZ$@"E#!:7<K!aW!6"OoB!aQ6A6Mv!:Y^!f"A678P!6#Yn
"U@MX!:6"7"OP:<}mSP!6"7"OPaF<SP!7"OP'sP!6"7"OP6m>fk7>Om>Ao
>l6$7"<k7SZ$@"E#!:7<K!aW!6"OoB!aQ6A6Mv!:Y^!f"A67"„oPO6 O6wmSP!
7"OPaQ!‡>:<}cOo=!Yn"}OMj<aF<6A67Q<Y^!6"7"OP'sP!7"OPYb\]!:7Q<
Y^!7"OPaQ7"m!"7A!7<=!7"OP78!:YOj77"{<"9!7"OPMrMEU6"m<SP!7"^
7"OW!'
"<fk77"q67"{<"9!7"OP$SP!7"OPMEU6cOo=!T5m6"†!>OmT9<7Q<Y^!7"OP
"L67<k@7]67"OP7"„6A6M<=Of<K!Mr7"^7"OW!78!:"U@MX!:6"7"OP7Q<
6"R!"'ˆ!:Yj7<=!7"OP>v7T9<7Q<Y^!cOoMZ!"79<"U@MX!:6"7"OP7Q<6"R!"$R7
!"g7@"^<7E#!:ME#!:aF<:<A78Z6wm7Q<Y^!Ml79<7"{<M<B>fd"U@MX!:'
)*+ ,,-+./0%123%
! "#$%&"'($) *$+$,-$'./0
•%$&%%‘
C:UTR
(4
4=>L7@"A@Td™D"^<6l7E6A6"@"A@!"[!$"97Mv!:7"„@"A@TOW74<K7
!m>'4=>L77Q<6"R!"™•!""•!"7Q<6"R!"TQ!">9!"$@"E#!:A!Y^!yOg7f<!"
\m!"6l"<KOcO^f<!"7kaQM^>S^f"^!?!:78^!U'•C$&‘
(4
8A6"!"<K>S^78•$Ml!:S^"<B>aQ7"Ok7Q<Y^!TQ\SP!M<7"OPMl!:'
•C$&‘
.15
sm:X>6A6f"A6""Q!:TQ7ˆ6"h6aQ6A!"[!7"Ov6>†<7"Q!"@" !f<!"
7k"97Mv!:f<!"\m!"79<4<K7!m>6l!"O6 O7"OP7Q<Y^!78567<k@Yb\]!:7Q<
Y^!7"OP6">]6MR6""97Mv!:6wm>•!"aQMA@h!:MwM<=Of<K!7"OP7"„cOo
MZ!"6wm@"A@TOW74<K7!m>'•C$&‘
"6
NQf"^!:7"{<:<m!7R!"7|7"{<M<B>z!:7o7"m!"7A!f"^!7<=!M O7<P!
6"!"Q6O!:6g@7Q<Y^!Mk!f"<f"A6""Q!:78^"k7!U:j6$!UTr<7"OP7Q<6"R!"aQ
6A6f"^!6"<@"Rf"A6MrMEU67"^7"OW!78!:"U@MX!:6"7"OP7Q<6"R!":<}m
z!:7oaQf"A6""Q!:'"{<"9!6"7"OPMEU67"€m7"OW!:<}mz!:7oaQf"A6"
"Q!:6?!6haQ6"OfšY^!yOg7yOg7f<!"\m!"$7"{<:<m!7"O"X<aj!6wm\5A!
M O7E$!:OX!aj!6"7"OP7Q<6"R!"6wmz!:7o'4F<7ˆ6"h6!EF6!:Q<$7"{<"9!
6"7"OP7Q<6"R!"f"z!:aEU7cOA7"{<"9!"97Mv!:6Œ!T9<7"„cOok7MZ!"7"Q!"
TW@"L6:<go@"•@"97Mv!:79<4<K7m>˜Mj<aF<6A!"[!!EF6!:Q<$7"{<"9!
6"7"OP7Q<6"R!"f"z!:aEU7cOA7"{<"9!MEU6@"•@Y<!"Yj!:aQTQ>a<K679<
4<K7m>'•C$&‘
*276
NQf"^!:7"{<:<m!7R!"7|7"{<M<B>z!:7o7"m!"7A!f"^!7<=!M O7<P!
6"!"Q6O!:6g@Mk!7"{<M<B>S‡7M O7R!"7"{<:<m!6wmf•"9!78^!U7"h!"g7$
>Q78!:f"^!:7"{<:<m!Mlf"A6""Q!:6"Em@"^<78^!U:j6'"{<:<m![!"9!
MEU6cOoMZ!"7to7"Ov6T9<"•!"7Q<Y^!'•C$&‘
89:6&5
NQ6A6f"^!:7"{<:<m!78!:7"{<"9!6"7"OP7Q<6"R!"MrMEU67"^7"OW!
:<}mz!:7oaQf"A6""Q!:>Q79<6Oj<>•<f"^!:7"{<:<m!Mlf"A6""Q!:@"^<
78^>v7@" !"L67Q!SvYj7<=!7"OP7Q<6"R!"6"z!:7o'•C$&‘
;%&
NQ6A6>Ao>l67"<k7SZ$@"E#!:7<K!aW!6"OoB!aQ6A6Mv!:Y^!f"A6MEU6
z!:7oMh!:8m>Om7"„oPO6 O6wmSP!7"OPaQ!‡>:<}cOo=!Yn"}OMj<aF<
6A67Q<Y^!!Qo78!:YOj77"{<"9!6"7"OP'<K!!mo$6A66z!:7o6"7"OP7Q<
6"R!"f"z!:MEU66"7"OPSg7Mv!:Y^!'•C$&‘
-<=%>
Nr<YOg76"7"OP7Q<6"R!"6#YnaQTr<YOg76"7"OP7Q<6"R!"6#S^!TQTr<YOg7
7"m>6"<kOMByA6MZ!">h6Tr<YOg76"7"OP6]7"BMj<aF<7|!:f"A6""Q!:'•C$&‘
%'G‚TK6"7"OP
j<MmC•7ˆ!::<A78Z7Q<Y^!7E#!:h!:7‚TK78^78EF67j<Mm6wmf"A6""Q!:
TQ%•7ˆ!::<A78<7Q<Y^!'•C$&‘
,?@4AB
mo6Œ!:†<TQ7‚TKfdcO’$7"E{!:7|*•7ˆ!::<A78Z7Q<Y^!'•C$&‘
C!B2
NQ'(•78Z:<A6"7"OP!"E!:f"z!:\EF<%78<KO4aQf"z!:aEU7cOA(
78<KO46">v7"U@MX!:7"OP7Q<6"R!"'•C$&‘
9:&5D
š78^!UMEU67"€m7"OW!:<}mz!:7oaQf"A6""Q!:6?!6haQ6"OfšY^!
yOg7$f<!"\m!"$7"{<:<m!7"O"X<aj!6wm\5A!M O7E$f"^!?!:7"m!"7A!7<=!
7"OP6wmf"A6""Q!:aQ!:OX!aj!6"7"OP7Q<6"R!"6wmz!:7o'š78^!U6l7"B
7"„7"A!:"L6cOdaQYj7<=!78^!U:j6>•<fš6l7"Bf"z!:Sƒ!:!"mO'NZ6"
7"m!"7A!Y…MEU66z!:7o6"7"OP7Q<6"R!":b<Mk!f"A6""Q!:7j<7"<BO%!:Qo
78EF6!:QoMk!"9!7"m!"7A!'•C$&‘
2@E6
8!:78E{!:"U@7"m!"Td78EF6"9!$f"A6""Q!:TQ>M#!y<!7"m!"Td78EF6
"9!78!:Ml:"<8žTd\7"m!"7m!7A!78EF6"9!aQ:b<a=6z!:7o6"7"OP7Q<
6"R!"'8!:78E{!:"U@7"m!"Tdf"<"k77"{<"9!7"OP!"E78!:"U@MX!:$6z!:7o
6"7"OP7Q<6"R!"Y…6"ZO78A6"!"<K>7"56"<K!6A67"w7]66 !7"<k7aQ7<k!"Q!"
6"OoB!cOo=!Yn"}O7Q<Y^!Ym!:6"f"A6""Q!:!"E7"€m7"OW!78!:"U@MX!:
f"<f"A6""Q!:"Q!7g76A6!:"Šma]7"m!"7A!aF<6z!:7o6"7"OP7Q<6"R!"
_!"E!U:j6$Tr<$:<A6"†!>OmŸ`'•C$&‘
"F&&2G
4=!:OoP!7‡6$78!::<m\Z6"6"7"OPf6 !6A6S<K!@"A@S^M^>!"E7"k
6"g@$6 >6j"L6S^Tr!"6wmSP!7"h($a•SP!6"7"OP6lM6cOo=!7"O"X<7Q<
Y^!!kOSP!M<7"OP>g7f"^!?!:7"m!"7A!'Oo!"<P!78!:>v7Yj78E{!:"U@
ML6S<K7SP!6"7"OP6u!:6l7"BoPO6 OSP!M<7"OP@"^<6l6A6S<K!@"A@S^
M^>7"R6""U@'•C$&‘
:CSVW"B"DIJ
:C("DIJ:%
.$G
"„@"E#!:7"h6!Qo$78EF6f"<7"56"<K!!:"<K@a]6"7"OP$7Q<Y^!6"
7"OPMr7"Ov6cOo=!Yn"}O6wmSP!6"7"OPSƒ!:6A6">Om7Q<Y^!"L675y[o
\5!:'
•!"7"h6!Qo7"E{!:\6A66z!:7oSg7Mv!:Y^!aQ6A66z!:7oY^!yOg7>Ao
>l67"<k7SZ7"56"<K!!"E6A6!"QM O7Ey[o\5!:6mj6a?!@"Œ!:$6A66"O!:
6E$YmOMlfd"U@MX!:6"7"OPaF<f"A6""Q!:'A67ˆ6"h67Q<6"R!"8g7R6"A@
\]!:6"@"E#!:7"h67Q<78U!Qo'•;$%);‘
HIJ
ss
_%m`
_&`
_%S`
_(`
_&`sP!6"7"OPaQSP!M<7"OPfd"U@MX!:6"7"OP'
_%m`sP!6"7"OPTW@7"w7]66"OoB!:<mcOo=!Yb\]!:6"SP!M<7"OP'
_%S`sP!6"7"OP:<m7Q<Y^!6"SP!M<7"OP
_(`"„MZ!"fšSP!M<7"OP7"m!"7A!7<=!7"OP6"SP!6"7"OP'
:C:("D$%
.$G
"„@"E#!:7"h6!Qo$SP!6"7"OP6"–7"56"<K!a<K6>Om7Q<Y^!7"„oPO
6 O6wmSP!M<7"OPaQMrMEU6%SP!7"€m7"OW!7"„"U@MX!:7"OP'
sP!6"7"OPf"z!:@"^<>Om7Q<Y^!78EF6aQ!"EaWoY…TQ>6"aŒ!:cOmo
6wmaj!!"m!""#!a•f"z!:@"^<\578}7X!f"'
Q<Y^!MEU66"OoB!:<m78567<k@:<}mSP!6O!:6g@aQSP!M<7"OPaQ:<}m"†
6"ZO78A6"!"<K>78567<k@a=7•!"789!:"97Mv!:6wm7Q<Y^!$6u!:!"E7"56"<K!
a<K6S^"Q!"aQS^\E›!:7Q<Y^!'"EaWoSP!6"7"OP78q7S€:A!"!L!:a=
7•!"789!:"97Mv!:6wm7Q<Y^!'
sP!6"7"OPf"z!:78567<k@!"W!7Q<Y^!8X<YmMl6"OoB!:<m6"SP!M<
7"OP!P!Y…"9!6"kMEU68w<8$T<„!cOm!Mk!a<K67|6"j<!"W!"Q!:6wmSP!M<
7"OP$\!"}!:Ym<Yl7a=>L7f’7"OW7'.Og7@"A77|6A6EOM<B>78P!M[o>Q6A6
!:[!"Q!:aQ6A67ˆ6"h67Q<6"R!"MrA@\]!:6"wokO@"O !:7"h6!QoMB7Q<78U
6"6A6\m!"!:"<K@$ML6S<K7Mj<aF<6"7"OP7"<k7SZ'8P!7"k:<F<C•"U@
MX!:6"7"OPA@\]!:7"„@"E#!:@"A@!Qo'•;$%)G‘
HIJ
_&m`sP!6"7"OPaQSP!M<7"OPfd"U@MX!:6"7"OP'
_&S`sP!6"7"OPaQSP!6O!:6g@fd"U@MX!:>Om7Q<Y^!'
_%m`sP!6O!:6g@TW@7"w7]66"OoB!:<mcOo=!Yn"}O6"SP!6"7"OP'
_%S`sP!6O!:6g@6"OoB!:<m7Q<Y^!6"SP!M<7"OP'
_%6`sP!6"7"OP7"m!"7A!7<=!>Om7Q<Y^!'
_%\`sP!6"7"OPTW@7"w7]66"OoB!:<mcOo=!Yb\]!:6"SP!M<7"OP'
_(`"„MZ!"fšSP!M<7"OP7"A!"7A!7<=!7"OP6"SP!6"7"OP'
:C$#"D
.$G
A<6"7"OP"mo6Œ!:†<TQSA!aQ7"OPT9<TQ>v7\9!:ML6S<K76wm@"E#!:
7"h66"7"OP$6lY57"m>:<m6wm"m<SP!'8!:"97Mv!:f<!"\m!"6l!"<=O
\m!"!:"<K@7"<kOaj!TEOMv!:MBf"m<7"A67Q<Y^!6jMZ!""<K!6l$a•7"k"†Y…
SA!>v7@" !7Q<Y^!6wm>•!"6"!:[!"Q!:"L66z!:7o7Q<6"R!"YmOMl7"OP
T9<7Q<Y^!MBYb\]!:aQ!"EaWo\m!"!:"<K@Y…6l7"P>!:OX!7Q<6"R!"MA@h!:
!"O6 Oaj!TEOMv!:'
s/D
s
s
_(`
_%S`
_&S`
j<aF<!"}!:\m!"!:"<K@f"z!:6lMw!:OX!aj!TEOMv!:MBf"m<7"A6
7Q<Y^!6jMZ!""<K!6l'
j<aF<!"}!:\m!"!:"<K@6l!:Oo6#@"AY^!'
¡¢D"E#!:7"h67A<6"7"OPA@\]!:78!:"m<78E{!:"U@78P!M[oTQY56"OoB!
"lm7|6"amo!:‡!"9!Ym!:7Q<78U78O!:aQ\Q<"9!'•;$%*‘
HIJ
_&m`sP!6"7"OPfd"U@MX!:>Om7Q<Y^!\m!"!:"<K@'
_&S`sP!6"7"OPaQSP!M<7"OPfd"U@MX!:6"7"OP'
_%m`m!"!:"<K@TW@7"w7]66"OoB!:<mcOo=!Yn"}O6"!:[!"Q!:'
_%S`:[!"Q!:TW@7"w7]66"OoB!:<mcOo=!Yb\]!:6"\m!"!:"<K@MEU6
@"•@Yb\]!:7Q<Y^!'
_%6`:[!"Q!:78^7<=!>Om7Q<Y^!6"\m!"!:"<K@'kOTQS<K!@"A@:<^<cOok7
!UcOA"9!7"•f"^!7"m!"7A!!QoMEU67"O"X<f"^!!UcOA"9!'
_(`"„MZ!"fš\m!"!:"<K@7"m!"7A!7<=!7"OP6"!:[!"Q!:'
:CX("D3#QW13
".$G
"7"OP:<A@TE!:TQ@"E#!:7"h6>Q78!:Ml$7"z!:cOmY5MX!:d6wmSP!
6"7"OP$SP!M<7"OP7"h!"g76"SP!M<7"OP7"h"m<7"OPT9<7Q<Y^!Ml'8P!7"56
7k$7"566"g7SP!M<!7"OP7"h!"g76:"<8TQSP!78O!::<m!:<}mSP!6"7"OPaQSP!
7"OP7"h"m<$!"E!:a=>L7@"A@TdSP!M<7"OP7"h!"g7@"^<6"ZO78A6"!"<K>a=
a<K67"56"<K!"U@MX!:aF<SP!6"7"OP'4F<@"E#!:7"h6!Qo$>L6\t\m!"
_%m`
sP!6"7"OP
_"L67o
sP!M<7"OP
_m!"!:"<K@`
_&m`
_&S`
_%S`
_%6`
_(`
!:"<K@f"z!:MwM<=Of<K!M‹78567<k@7"OPaF<SP!6"7"OP$a~!7"OP\EU67Q<Y^!
MBYb\]!:6"Y^!yOg7f£<!"\m!"'
!TEOd8ƒ!:7<=!7"OP>QSP!7"OP7"h"m<@"^<78^7"E{!:6m"#!7<=!7"OP
>QSP!7"h!"g7@"^<78^6"SP!6"7"OP'D" !6"P!"TK6":<}m"m<f"^!7<=!
7"OPMl$SP!7"OP7"h!"g7MEU6"En!:$6<!"E"m"X!:78A6"!"<K>':Q<8m$
6"7"OP:<A@TE!:6u!:A@\]!:78!:78E{!:"U@SP!M<7"OP7"h!"g7Mr7"OP7Q<
Y^!aQYb\]!:7Q<Y^!Ml!"E!:YmOMlf"z!:6l!"O6 OYb\]!:7"•6l7"B6"
SP!f"A67"OPT9<aF<Y5MX!:d6wmSP!6"7"OP'_;$78m!:%**`
" HIJD
_&m`sP!6"7"OPaQSP!M<7"OP7"h!"g7fd"U@MX!:6"7"OP'
_&S`sP!M<7"OP7"h!"g7aQSP!M<7"OP7"h"m<fd"U@MX!:6"7"OP'
_%`sP!6"7"OP"L6SP!6O!:6g@6"OoB!:<m7Q<Y^!6"SP!7"OP7"h"m<'
_(m`sP!7"OP7"h"m<78^7<=!6"SP!7"OP7"h!"g7'
_(S`sP!M<7"OP7"h!"g778^7<=!7"OP6"SP!6"7"OP'
:CY("DZQ#
*.$G
"7"OP"U@7A6TQ>v7@"E#!:7"h6ML6S<K7$S<k!7EF!:7|6A6T9<6"7"OP
6#S^!!l<78P!'8!:6"7"OP"U@7A6$SP!6"7"OPMramo@" !TF!7|6A6!:[!
"Q!:"L66A6MZ!"6"k7Q<6"R!"f"A6MB>Om7Q<Y^!6"7"OP':OoP!!"[!6#
s
s¤%s¤&
_&m`
_(m`
_&S`
_(S`
S^!6wm!lTQMj<aF<6A67Q<Y^!7"OP6l:<A78ZTF!$>v7SP!6"7"OPf"z!:Mwaj!
MB7Q<78U"L6YU8w<8a•7W@78O!:aj!cOATF!aQ>v7f"A6""Q!:'8!:78E{!:
"U@!Qo>v7"L6>v7YjSP!6"7"OP"U@7A6aF<>v7"L6!"<=OSP!6"amo
f"A6M‹6t!:7Q<78U'Oo!"<P!"•!"7"h6!Qof"z!:@"^<TQ"•!"7"h6MX!:7Q<78U
a•aj!7Q<78U78!:@"E#!:@"A@!QoSm:X>"m<@" !$>v7@" !TQaj!6wmS^!
7"m!SP!6"7"OP$aQ>v7@" !TQaj!amoMEU66O!:6g@7|6A6SP!6"amo'
8!:6"7"OP"U@7A6$aj!amo7"E{!:6"<k>7‚78†!:TF!78!:7ˆ!:Yj7<=!
7Q<78U$f"m!:+•C•$aQf"^!:6"amoMEU6S^M^>Sƒ!:6"R!"7m•Y^!
6"7"OP$aQ6m>fk76"OoB!!"EU!:"U@MX!:6"7"OPaQ6A6f"^!7<=!7"OP'•;$
%*(‘
* HIJ
_&m`sP!6"7"OPaQSP!M<7"OPfd"U@MX!:6"7"OP'
_&S`sP!6"7"OPaQSP!6O!:6g@fd"U@MX!:>Om7Q<Y^!'
_&6`sP!6"7"OPaQSP!6"amofd"U@MX!:7R!\]!:'
_&\`sP!6O!:6g@aQSP!M<7"OPfd"U@MX!:a=S^"Q!"aQS^\E›!:7Q<Y^!'
_%m`sP!6O!:6g@TW@7"w7]66"OoB!:<mcOo=!Yn"}O6"SP!M<7"OP'
_%S`sP!6"7"OP7"m!"7A!7<=!>Om7Q<Y^!Sƒ!:>v7@" !aj!6wm>•!"aQ>v7
@" !aj!M<amo'
_%6`sP!6"7"OPTW@7"w7]66"OoB!:<mcOo=!Yn"}O6"SP!M<7"OP'
s
_T„mY8`
s
_T„mY„„`
s/D
_YO@@T<„8`
s4
_T„!\„8`
_&m`
_&S`
_&6`
_&\`
_%m`
_%S`
_%6`
_(m`
_(S`
_(m`sP!M<7"OP7"m!"7A!7<=!7"OP7"mMZ!"fš'
_(S`sP!6"7"OP7"m!"7A!7<=!7"OP6"SP!6"amo'
$C[D\N]"DIJ
$C)^QE2TO3_INZ
sP!69!"!"}!::<go7{6 !7"<k76""XY#7E#!:75!"E6"amo78O!:\Q<"9!$
6 !TEOd78!:"XY#SP!M<7"OP@"^<>z7^6"<7<k7™
¥A67"z!:YjfŠ7"OW7T<P!cOm!Mk!7Q<Y^!'
¥<A7Q<Y^!'
¥"Q6O!:6g@'
¥A6"7"h66"OoB!:<m7Q<Y^!6wm6A6SP!T<P!cOm!'
$C:SVJJ`A3
sP!6"7"OP6 !@"[!7R6"!"}!:!v<\O!:YmO™
¥D"[!7R6"f"^!?!:7"m!"7Q<6"R!"$f"^!?!:7"m!"7A!'
¥"x>MZ!"fŠ!"}!:okO7jM6!PO78!:"XY#_7"z!:YjfŠ7"OW7T<P!cOm!
Mk!7Q<Y^!$<A7Q<Y^!$"Q6O!:6g@Ÿ'`'
¦12.3$™
¥8•!"Mv>Ao>l67"<k7SZ™T96"WO"mo7<P!7<k!
¡¢^!""En!:f"^!?!:7"m!"7A!6wmSP!M<7"OPaQa<K67"O"X<aj!6wmSP!6"
7"OP
¥<A6^7Q<Y^!™6m"mo7"g@"#!:<A7"Z78E{!:
¡¢^!""En!:TU<!"OW!SP!M<7"OPaQf"^!?!:7"m!"7A!7<=!7"OP
¥?!:T56!"Q6O!:6g@™SP!6"7"OP!kOy•77"go!"Q6O!:6g@fMwf"^
!?!:6O!:6g@"Q!:7"„Mq!:"U@MX!:7"•6l7"BoPO6 OSP!M<7"OP7"moMˆ<!"Q
6O!:6g@aF<M<=Of<K!7j7"#!
4."5.6$'.7$.8$219:+,+#*3!&$(!;$<=
>
¥8A6"!"<K>a=T‡@ML7
¥8A6"!"<K>a=SQ!:<m7Q<Y^!
¥Q796z!:!"[!aQ6"OoB!:<m6z!:!:"K
¥s^"Q!"$S^\E›!:
¦?77=$.9$,-™
4=!:OoP!7‡6$78!::<m\Z6"6"7"OPf"z!:6 !6A6S<K!@"A@S^M^>!"E
7"k6"g@$6 >6j"L6S^Tr!"6wmSP!7"h($a•SP!6"7"OP6lMEU6cOo=!7"O
"X<7Q<Y^!!kOSP!M<7"OP>g7f"^!?!:7"m!"7A!'Oo!"<P!78!:>v7Yj78E{!:
"U@ML6S<K7SP!6"7"OP6u!:6l7"BoPO6 OSP!M<7"OP@"^<6l6A6S<K!@"A@
S^M^>7"R6""U@'
$C$[D\!T_INZ
emOf"<@"[!7R6"7R!\]!:SP!7Q<78UY…cOok7MZ!"6l7Q<78U"mof"z!:'
48,@,+8$.$'.$A>
¥NW@"U@MX!:6"7"OP:<}mSP!6"7"OPaQSP!M<7"OP'
¥sP!6"7"OPfd"U@MX!:>Om7Q<Y^!7"OPaF<!"Q6O!:6g@'
$CX("Da3b3Vc
¥"Q6O!:6g@:<m7Q<Y^!7"OPaQT‡@ML76"SP!M<7"OP'
¥sP!6"7"OP7"m!"7A!7<=!>Om7Q<Y^!7"OPaF<!"Q6O!:6g@'
$CY##d`A3IeDbWfIb
OoMZ!"78!:"U@MX!:™SP!M<7"OP@"^<Yb\]!:aQcO^!Td7Q<Y^!Mq!:cOo
78•!"fŠ7"OW7'
D"E#!:@"A@:<A>YA7™
¥<A>YA77"„MZ!"f•
¥<B>78mMv7YOg7
¡¢fk7"U@6^%@"E#!:@"A@
v<\O!::<A>YA7™
¥<B>78mcOo78•!"S^\E›!:7Q<Y^!6wmSP!M<7"OPaQa<K6Ml!:S^
"<B>6wm7Q<Y^!7"OP'
¥<B>78m>z<78E{!:aW!"Q!"7Q<Y^!aQ7•!"789!:"97Mv!:6wm7Q<Y^!'
¡¢y„>y•7>h6Mv"E"€!:6l!ƒ>78!::<F<"9!6"@"•@f"z!:
¥<B>78m6E{!:MvYb\]!:7Q<Y^!'
¡¢y„>y•76lYb\]!:cOA"9!>h67j<MmcOoMZ!"78!:"U@MX!:f"z!:$!kO
cOASP!M<7"OPY…SZ@"97'
¥<A>YA7a<K67"m!"7A!7<=!7"OPaQ"<KOcO^7Q<6"R!"6wma<K6Yb\]!:
aj!'
