Contents
Language
Accessibility
Share
Controls
Back
1
/
1
Pages
Cover
Magnify
Search
Search
All Pages
Fullscreen
Custom
Talcott Resolution Life and Annuity Insurance Company Talcott EverGuardSM Aspire Series Single Premium Deferred Fixed Indexed Annuity FIA Build lasting peace of mind with long term upside potential Aspire to the stability of principal protection the exibility of multiple Index Options and model portfolios with the potential for market linked growth Count on the EverGuardSM Aspire Series for accumulation no matter where you stand in your retirement journey Information provided by Talcott Resolution Life and Annuity Insurance Company Talcott NAIC 71153 headquartered in Hartford Connecticut and issuing annuities in 49 states and Washington D C excluding New York Annuity features and availability may vary state by state For detailed product information or de nitions of key terms please refer to the Certi cate of Disclosure speci c to the product 8365114 6 FORM PRB_8365114 6 Ver 10 1 2025
About With 126 billion1 in assets under management AUM a legacy of nancial stability spanning more than 100 years and a commitment to creating lasting value and peace of mind Talcott Financial Group provides exible innovative solutions designed to drive results that matter Leveraging the strength of our U S insurance operations and global reinsurance platform our team delivers tailored insurance products tools and services with speed precision and reliability And through our partnership with Sixth Street a leading global investment firm with over 115 billion in AUM our expansion into retail distribution products developed with our customers in mind is a natural progression We do this work at scale and with confidence empowering our stakeholders to turn the future they ve always envisioned into the reality they can rely on Decades of annuity design With a 50 year history of pioneering powerful annuity products we continually work to innovate so clients can consistently thrive through retirement Proven leadership team Our team is long tenured and deep with a track record of proven performance to match Armed with knowledge and creative at the core they bring the expertise required to elevate everyday opportunities into extraordinary outcomes By the numbers 126 Billion in AUM1 Commitment to our customers Underlining a commitment to helping our customers and policyholders succeed our retail distribution operations are located domestically giving us an edge in providing responsive premium service day in day out Risk management discipline Fortified by the management of multiple market cycles our risk platform offers robust and sophisticated scenario analysis capabilities supporting decision making and maintaining a prudent risk profile for the enterprise across a wide range of scenarios Century of experience We draw on 100 plus years of experience and an unwavering focus on service to deliver enduring value solution after solution customer after customer time after time 4 Billion in regulatory capital1 1 2 Million contracts2 Reference nancial statements available via talcott com 2 Represents estimated number of covered lives under policies either issued administered and or reinsured by Talcott Financial Group 1 Page 2 of 16
Talcott with more than a century of stability and strength is positioned to deliver value security and dependability to our clients which is re ected in our nancial strength ratings A M Best Fitch Moody s Standard Poor s A Stable A Stable Baa1 BBB December 12 2024 October 30 2024 August 14 2025 October 8 2024 Positive Stable The nancial strength ratings apply to the individual nancial strength of Talcott Resolution Life and Annuity Insurance Company A M Best Fitch Moody s and Standard Poor s credit ratings re ect their assessment of the relative ability of an insurer to meet its ongoing insurance policy and contract obligations A M Best rating as of December 12 2024 A 4th highest of 16 Fitch rating as of October 30 2024 A 7th highest of 22 Moody s rating as of August 14 2025 Baa1 8th highest of 21 and Standard Poor s rating as of October 8 2024 BBB 8th highest of 22 Visit our website to learn more about Talcott our solutions and our commitment to your success All information is current as of June 30 2025 unless otherwise indicated Page 3 of 16
Protected and positioned to grow EverGuardSM Aspire Series is available in 5 7 and 10 year Withdrawal Charge Periods Bene t from the features of this dependable and exible solution Premium Bonus Available with the 10 year Withdrawal Charge Period an optional Premium Bonus Rider provides an immediate boost to your retirement savings If elected you may have lower crediting rates Growth potential Your premium is linked to the performance of a market index allowing you to benefit from market upside potential without the risk of principal loss due to market downturn Tax deferral Your earnings grow tax deferred meaning you don t have to pay taxes on interest earned until you withdraw funds This deferral can allow your investment to compound more effectively over time Access to funds Access a portion of your money if needed up to 10 of the Contract Value is available each year penalty free after the first Contract Anniversary Required Minimum Distributions RMDs may be taken penalty free beginning in the first Contract Year This flexibility allows you to use your funds however you see fit throughout the Withdrawal Charge Period Guaranteed income stream Using the annuitization feature you can convert your Contract Value into a guaranteed income stream to ensure steady reliable payments for a specified period or even life Legacy bene t Allow your remaining funds to pass to beneficiaries This legacy benefit can provide financial security to loved ones and preserve wealth across generations Page 4 of 16
Fixed Indexed Annuities 101 What is a Fixed Indexed Annuity FIA A Fixed Indexed Annuity FIA is a long term contract with an insurance company like Talcott that can help you grow and protect your retirement savings In return for your premium FIAs offer valuable benefits that may include tax deferred growth protection from market losses access to funds a death benefit and the option to receive guaranteed income for life FIAs also offer the potential for growth based on the performance of one or more market indices such as the S P 500 You can choose how your money is allocated whether to a Fixed Interest Option index linked accounts model portfolios or a combination While your earnings will vary with index performance your principal is protected from market downturns This gives you the opportunity to earn more without risking loss due to negative market returns What does that look like Here s a simple example to illustrate This example is for illustrative purposes only and does not represent the performance of any speci c product It assumes a 100 000 premium no withdrawals or charges and an 8 00 cap rate each year using the S P 500 index Page 5 of 16
Your retirement strategy Your choice 1 Choose your premium amount 25 000 minimum with a maximum of 2 million without prior company approval 2 Select your Withdrawal Charge Period Select between 5 year 7 year 10 year and 10 year with Premium Bonus Rider 3 Elect your Account Options Allocate between the available manual allocation options and model portfolio options Page 6 of 16
Grow your funds Choose from the following Account Options to determine how interest is credited to the Contract Value of your annuity Fixed Interest Option The Fixed Interest Option credits a guaranteed fixed interest rate declared annually by Talcott and credited daily to your Contract Value Index Options You can also choose to earn potential interest based on the performance of one or more external market indices with the flexibility to allocate your premium across multiple options Any interest earned is locked in at the end of each Crediting Term and protected from downside market loss Available Crediting Strategies manual allocation Index Term S P 500 Annual Point to Point with Cap 1 year S P 500 Engle 15 VT TCA Point to Point with Cap 1 year Invesco BofA QQQ Balanced FC Point to Point with Participation Rate 1 year Goldman Sachs Enhanced Multi Asset Point to Point with Participation Rate 1 year Fixed Interest Option 1 year Reallocation You may reallocate to other Account Options by submitting a request prior to the end of the Crediting Term All requests will be processed at the end of each one year Crediting Term If you do nothing your Contract Value will remain allocated to your existing accounts and a new Crediting Term will begin Page 7 of 16
Model portfolios Take the guesswork out of allocation with Talcott s model portfolios two professionally designed portfolios that o er additional bene ts simpli ed diversi cation and automatic annual rebalancing Model 1 Balanced Rate Guarantee BRG This model features guaranteed caps and participation rates for the full Withdrawal Charge Period providing added predictability and consistency Model 1 Balanced Rate Guarantee BRG Index Model Allocation Percentage S P 500 Engle 15 VT TCA Annual Point to Point with Cap 40 Invesco BofA QQQ Balanced FC Annual Point to Point with Participation Rate 30 Goldman Sachs Enhanced Multi Asset Annual Point to Point with Participation Rate 30 All caps and participation rates are guaranteed for the entire Withdrawal Charge Period in the BRG model Page 8 of 16
Model portfolios Model 2 Equity Focused EF This model includes an emphasis on equity oriented indices and offers an enhanced S P 500 cap for those seeking additional growth potential Model 2 Equity Focused EF Index Model Allocation Percentage S P 500 Annual Point to Point with Cap 30 S P 500 Engle 15 VT TCA Annual Point to Point with Cap 30 Invesco BofA QQQ Balanced FC Annual Point to Point with Participation Rate 20 Goldman Sachs Enhanced Multi Asset Annual Point to Point with Participation Rate 20 Page 9 of 16
Model portfolios Allocation and Reallocation Guidelines With the EverGuardSM Aspire Series you may Allocate all premium to one model Split premium between one model and manual allocation s Reallocate premium fully out of a model into manual allocation s on Contract Anniversary With the EverGuardSM Aspire Series you may not Split premium between more than one model Reallocate a portion of premium out of a model on Contract Anniversary Reallocate premium to a model from manual allocation s on Contract Anniversary Automatic rebalancing If you allocate to a model all allocations including model and manual allocation s will reset to the original percentages speci ed on the application on each Contract Anniversary Page 10 of 16
Exclusive allocations for your unique ambitions Talcott s Fixed Indexed Annuities provide access to unique indices giving you an edge in achieving your retirement goals S P 500 Annual Point to Point with Cap The S P 500 is widely regarded as the best single gauge of large cap U S equities The index includes 500 leading companies and covers approximately 80 of available market capitalization Ticker SPX Indexed to S P Dow Jones Indices Goldman Sachs Enhanced Multi Asset Annual Point to Point with Participation Rate The Goldman Sachs Enhanced Multi Asset Index is an 8 volatility target index that provides exposure to U S Equity 10Y U S Treasury 2Y U S Treasury Dollar Hedged Gold and Alternatives Ticker GSEMA8 Fixed Interest Option Credits a guaranteed fixed interest rate declared annually by Talcott and credited daily S P 500 Engle 15 VT TCA Annual Point to Point with Cap The S P 500 Engle 15 VT TCA Index measures dynamic exposure to the S P 500 while applying a predictive volatility control mechanism licensed from UBS This mechanism employs a variation of the GARCH model inspired by the research of Nobel Laureate Robert F Engle Ticker SPETC15E Indexed to S P Dow Jones Indices Invesco BofA QQQ Balanced FC Annual Point to Point with Participation Rate The Invesco BofA QQQ Balanced FC Index the Index applies BofA s patented Fast Convergence technology to the Invesco QQQ Exchange Traded Fund Each hour the Index systematically assesses market volatility to rebalance between equities U S Treasury futures and a notional cash position with the goal of steady performance in various market conditions Ticker QBFC Page 11 of 16
Flexible access to your funds Free Withdrawal Amount Nursing Home or Hospital Con nement and Terminal Illness Waivers Ten percent 10 of the Contract Value is available annually as a Free Withdrawal Amount after the first Contract Anniversary The Free Withdrawal Amount is based on the Contract Value at the beginning of the most recent Contract Year These waivers allow Contract Owners to access their funds without Withdrawal Charges or MVA if they are diagnosed with a terminal illness or confined to a Nursing Home or Hospital Nursing Home or Hospital Confinement Waiver Eligibility begins after the first Contract Anniversary for Owner or Joint Owner Contract Owner must be confined to a qualified Nursing Home or Hospital for 90 consecutive days starting after the Contract Issue Date RMDs may be taken without Withdrawal Charges or Market Value Adjustment MVA beginning in the first Contract Year In subsequent years RMDs are considered part of the allowed Free Withdrawal Amount Terminal Illness Waiver Systematic withdrawals are available based on a specified percentage or dollar amount on a monthly quarterly annual or semiannual basis Eligibility begins after the first Contract Anniversary for an Owner or Joint Owner Diagnosis must have occurred after the Contract Issue Date Diagnosis must be made by a certified physician that death will occur in 12 months or less following the physician s statement Withdrawal Charge Schedule A Withdrawal Charge will be assessed against withdrawals in excess of the allowed Free Withdrawal Amount The schedule below shows the applicable percentage during each year of the Withdrawal Charge Period Withdrawal Charge Period Year 1 2 3 4 5 6 7 8 9 10 5 year 9 00 9 00 8 00 7 00 6 00 7 year 9 00 9 00 8 00 7 00 6 00 5 00 4 00 10 year 9 00 9 00 8 00 7 00 6 00 5 00 4 00 3 00 2 00 1 00 10 year with Premium Bonus 9 00 9 00 8 00 7 00 6 00 5 00 4 00 3 00 2 00 1 00 Withdrawals and surrender may be subject to federal and state income tax and except under certain circumstances will be subject to an IRS penalty if taken prior to age 59 1 2 Contract Value withdrawn from an Index Option before the end of the Crediting Term will not receive interest for that Crediting Term Premium Bonus Recapture If your contract includes a Premium Bonus Rider and you take a withdrawal surrender or annuitize your Contract Value during the Withdrawal Charge Period the Premium Bonus will be recaptured deducted according to the schedule below The Bonus Value is initially equal to the Premium Bonus Percentage multiplied by the premium and is increased by any interest credited Year Recapture 1 2 3 4 5 6 7 8 9 10 100 90 80 70 60 50 40 30 20 10 Page 12 of 16
Key product features Issue Ages 0 85 Ownership Qualified IRAs and Roth IRAs are accepted Owner and Annuitant must be the same individual Non qualified Non qualified Non qualified stretches and Non natural ownership are accepted Joint Ownership allowed Market Value Adjustment MVA MVA may apply to any withdrawals in excess of the allowed Free Withdrawal Amount The MVA is applied after Withdrawal Charges are deducted The MVA may increase or decrease the amount of the withdrawal or the Surrender Value of your contract depending on the change in the reference rate index yields Generally if market interest rates are higher than when you purchased your annuity the MVA will be negative If interest rates are lower the MVA will be positive If the blended reference rate yields have not changed by more than 0 25 no MVA will apply MVA Reference Indices Indices include 70 Bloomberg Barclays U S Corporate Index plus 30 JPM CLOIE Index A Annuitization After the first Contract Year the full Contract Value may be annuitized under any of the available annuity options Life Income Joint and Survivor Income Life Income with Cash Refund and Life Income with a Period Certain of 10 or 20 years Free Look Period aka Notice of Right to Examine Contract You may return your contract to Talcott within your Free Look Period and receive a full refund of your premium minus any withdrawals taken Additional details can be found within your contract pages Death Benefit Upon death the greater of the Contract Value or the Minimum Value required by state law will be paid to the beneficiary The Death Benefit is free of Withdrawal Charges or MVA Page 13 of 16
DISCLOSURES Talcott Resolution Life and Annuity Insurance Company NAIC 71153 headquartered in Hartford Connecticut and issuing annuities in 49 states and Washington D C excluding New York is not providing investment advice for any specific individual or situation Therefore nothing in this material should be considered as investment advice or interpreted as a recommendation by Talcott Resolution Life and Annuity Insurance Company or any other Talcott company Neither Talcott nor its representatives offer legal or tax advice It is recommended that you get advice from your own legal counsel or tax advisor regarding any tax matters The EverGuardSM Aspire Series is a single premium deferred fixed index annuity FIA underwritten by Talcott Life and Annuity Insurance Company under form number series ICC25_FIA100 Annuity features and availability may vary state by state Annuity guarantees are based on the financial strength and claims paying ability of the issuing insurance company The term financial professional does not imply involvement in an advisory role with compensation separate from sales Financial professionals will receive a commission for selling a Talcott annuity All copyrights reserved No part of this document may be reproduced published or used without permission of Talcott Financial Group All information is current as of June 30 2025 unless otherwise indicated The information provided herein is not and should not be construed as an advertisement solicitation or offer to purchase this product in the states of Idaho Mississippi Nevada North Dakota Oklahoma or Oregon Talcott Financial Group and its subsidiaries include Talcott Resolution and Talcott Re Talcott Re is Talcott Re Holdings Ltd and its subsidiaries 30 Woodbourne Avenue 3rd floor Pembroke Bermuda Talcott Resolution and its subsidiaries include Talcott Resolution Distribution Company Inc and issuing companies Talcott Resolution Life Insurance Company and Talcott Resolution Life and Annuity Insurance Company located at One American Row Hartford CT Products administered by Talcott Resolution include variable annuities fixed indexed annuities fixed and payout annuities and private placement life insurance Securities underwritten and distributed by Talcott Resolution Distribution Company Inc One American Row Hartford CT Phone 1 800 406 5084 The S P 500 Index is a product of S P Dow Jones Indices LLC or its affiliates SPDJI The S P 500 Engle 15 VT TCA Index is a product of SPDJI and incorporates methodology licensed from UBS AG UBS and has been licensed for use by Talcott Resolution Life and Annuity Insurance Company Talcott S P S P 500 SPX SPY US 500 The 500 iBoxx iTraxx and CDX are trademarks of S P Global Inc or its affiliates S P Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC Dow Jones Engle is a trademark of Engle Volatility Consulting LLC Engle Consulting the research principal of which is Robert F Engle Engle and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Talcott Resolution Life and Annuity Insurance Company Talcott Talcott s EverGuardSM Fixed Index Annuities based on the Indices are not sponsored endorsed sold or promoted by SPDJI Dow Jones S P their respective affiliates Engle Consulting Engle or UBS and none of such parties make any representation regarding the advisability of investing in such product s nor do they have any liability for any errors omissions or interruptions of the Indices BofA Securities Inc and its Affiliates BofAS Invesco BofA QQQ Balanced FC Index the Index and related information the name BofAS and related trademarks are intellectual property of BofAS licensed from BofAS to Talcott Resolution Life and Annuity Insurance Company Licensee In connection with the Index BofAS has licensed the use of certain marks and data from Invesco Capital Management LLC collectively with BofAS the Licensors Neither the Licensee nor any annuity product including fixed index annuities collectively the Products referencing the Index is sponsored operated endorsed sold or promoted by the Licensors Obligations to make payments under any Product are solely the obligation of Licensee pursuant to the term of the contract between Licensee and you and are not the responsibility of the Licensors The Licensors the Index and related information the names of the Licensors and related trademarks may not be copied used or distributed without the relevant Licensor s prior written approval The Products have not been passed on as to their legality or suitability and are not regulated issued endorsed sold guaranteed or promoted by the Licensors The Licensor s only relationship to Licensee is the licensing or sub licensing of certain trademarks and trade names and the Index or components thereof and neither the Licensors nor any of their affiliates are a party to any transaction contemplated herein The Index applies a volatility target and while volatility controls may result in less fluctuation in rates of return as compared to indices without volatility controls they may also reduce the overall rate of return as compared to products not subject to volatility controls The Index embeds certain transaction costs and the components of the Index embed additional transaction costs in each case that are taken into account in the calculations of the change in Index value which will reduce any returns of the Index THE LICENSORS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE INDEX ANY RELATED INFORMATION THE TRADEMARKS OR THE PRODUCT S INCLUDING WITHOUT LIMITATION THEIR QUALITY ACCURACY SUITABILITY AND OR COMPLETENESS Invesco and all associated marks are service marks of Invesco Holding Company Limited used under license Invesco QQQ TrustSM series 1 Invesco ETF s is sponsored by Invesco Capital Management LLC Licensor and the use of the Invesco ETF s in the offering by Talcott Resolution Life and Annuity Insurance Company of certain fixed index annuity products each a Product and collectively the Products is authorized pursuant to a license with Licensor The trademarks are intellectual property licensed from Licensor and may not be copied used or distributed without Licensor s prior written approval
DISCLOSURES Licensor makes no express or implied warranties and hereby expressly disclaims all warranties of merchantability or fitness for a particular purpose with respect to the use of the Invesco ETFs or any data or other information related thereto in connection with the rights licensed hereunder or for any other use Without limiting any of the foregoing in no event shall Licensor have any liability for any special punitive indirect or consequential damages including lost profits even if notified of the possibility of such damages Nasdaq Nasdaq 100 and QQQ are registered trademarks of NASDAQ Inc which with its affiliates is referred to as the Corporations and are licensed and or sublicensed for use by Invesco Capital Management LLC BofA Securities Inc and its affiliates and Talcott Resolution Life and Annuity Insurance Company The Product s have not been passed on by the Corporations as to their legality or suitability The Product s are not issued endorsed sold or promoted by the Corporations THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT S The EverGuardSM Aspire Series the Product is not sponsored endorsed sold guaranteed underwritten distributed or promoted by Goldman Sachs Co or any of its affiliates including Goldman Sachs Asset Management L P with the exception of any endorsement sales distribution or promotion of this Product that may occur through its affiliates that are licensed insurance agencies excluding such affiliates individually and collectively Goldman Sachs or its third party data providers Goldman Sachs and its third party data providers make no representation or warranty express or implied regarding the advisability of investing in annuities generally or in Fixed Indexed Annuities or the investment strategy underlying such Products particularly the ability of the Product the Index to perform as intended the merit if any of obtaining exposure to the Index or the suitability of purchasing or holding interests in the Product Goldman Sachs and its third party data providers do not have any obligation to take the needs of the holders of the Product into consideration in determining composing or calculating the Index GOLDMAN SACHS DOES NOT GUARANTEE THE ACCURACY AND OR COMPLETENESS OF THE INDEX OR OF THE METHODOLOGY UNDERLYING THE INDEX THE CALCULATION OF THE INDEX OR ANY DATA SUPPLIED BY IT FOR USE IN CONNECTION WITH THE PRODUCT GOLDMAN SACHS HEREBY EXPRESSLY DISCLAIMS ANY AND ALL LIABILITY FOR ANY ERRORS OMISSIONS OR INTERRUPTIONS THEREIN OR IN THE CALCULATION THEREOF GOLDMAN SACHS EXPRESSLY DISCLAIMS ALL LIABILITY FOR ANY SPECIAL PUNITIVE INDIRECT OR CONSEQUENTIAL DAMAGE EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES THIRD PARTY DATA IS USED UNDER LICENSE AS A SOURCE OF INFORMATION FOR THE INDEX THIRD PARTY PROVIDER HAS NO OTHER CONNECTION TO GOLDMAN SACHS INDEXES AND SERVICES AND DOES NOT SPONSOR ENDORSE RECOMMEND OR PROMOTE ANY GOLDMAN SACHS INDEX OR SERVICES THIRD PARTY PROVIDER HAS NO OBLIGATION OR LIABILITY IN CONNECTION WITH THE GOLDMAN SACHS INDEX AND SERVICES THIRD PARTY PROVIDER DOES NOT GUARANTEE THE ACCURACY AND OR THE COMPLETENESS OF ANY MARKET DATA LICENSED TO GOLDMAN SACHS AND SHALL NOT HAVE ANY LIABILITY FOR ANY ERRORS OMISSIONS OR INTERRUPTIONS THEREIN THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN THIRD PARTY PROVIDER AND GOLDMAN SACHS BLOOMBERG and the Bloomberg indices listed herein the Indices are service marks of Bloomberg Finance L P and its affiliates including Bloomberg Index Services Limited BISL the administrator of the Indices collectively Bloomberg and have been licensed for use for certain purposes by the distributor hereof the Licensee Bloomberg is not affiliated with Licensee and Bloomberg does not approve endorse review or recommend the financial products named herein the Products Bloomberg does not guarantee the timeliness accuracy or completeness of any data or information relating to the Products The JPMorgan CLOIE A Index JPMorgan Index has been licensed to Talcott Resolution Life and Annuity Insurance Company the Licensee for the Licensee s benefit Neither the Licensee nor the financial products named herein the Products are sponsored operated endorsed recommended sold or promoted by J P Morgan Securities LLC JPMS or any of its affiliates together and individually JPMorgan J P Morgan is not responsible for nor has it participated in any aspect of the structuring of any attribute of the Products the determination of the timing of the offering of the Products the pricing of the Products or in the manner of operation of the Products J P Morgan has no obligation or liability in connection with the administration marketing or trading of the Products JPMorgan makes no representation and gives no warranty express or implied to contract owners in or those otherwise taking exposure to the Product Such persons should seek appropriate professional advice before making any investment The JPMorgan Index has been designed and is compiled calculated maintained and sponsored by JPMS without regard to the Licensee the Product or any contract owner JPMorgan is under no obligation to continue compiling calculating maintaining or sponsoring the JPMorgan Index JPMorgan may independently issue or sponsor other indices or products that are similar to and may compete with the JPMorgan Index and the Product
EverGuardSM Aspire Series For a stable future with growth potential INVESTMENT AND INSURANCE PRODUCTS ARE NOT FDIC INSURED NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY NOT A DEPOSIT OR OTHER OBLIGATION OF OR GUARANTEED BY THE BANK OR ANY OF ITS AFFILIATES SUBJECT TO INVESTMENT RISKS INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED
