Product Description
The American Equity Deposit Note offers the growth potential of a American diversified companies portfolio all while ensuring 100% principal protection at maturity.
Note
On June 2, 2021, Merck & Co., Inc. (NYSE: MRK) (“Merck”) completed the spin-off of Organon & Co. (NYSE: OGN) (“Organon”) by the special dividend distribution of one-tenth of a share of Organon common stock for every Merck common share, triggering a Potential Adjustment Event as per the terms and conditions of the Deposit Notes in respect of the common shares of Merck, a Reference Share in the Reference Portfolio of the Deposit Notes. As such, the Initial Value of the common shares of Merck was adjusted as of the closing of the markets on June 2, 2021. On November 16, 2020, Pfizer Inc. (NYSE: PFE) (“Pfizer”) completed the transaction to spin-off its Upjohn division and combine it with Mylan N.V. (Nasdaq: MYL) to form Viatris Inc. (Nasdaq: VTRS) (“Viatris”), triggering a Potential Adjustment Event as per the terms and conditions of the Deposit Notes in respect of the common shares of Pfizer, a Reference Share in the Reference Portfolio of the Deposit Notes. As stockholders received common shares of Viatris, they were sold and reinvested in common shares of Pfizer. As a result, the Initial Value of the common shares of Pfizer was adjusted as of the closing of the markets on November 16, 2020.
On November 3, 2021, International Business Machines Corporation (NYSE: IBM) (“IBM”) announced the completion of its separation from Kyndryl Holdings, Inc. (NYSE: KD) (“Kyndryl”). Starting on November 4, 2021, Kyndryl will be traded on the New York Stock Exchange under the symbol “KD”. IBM completed the spin-off of Kyndryl by the special distribution of one share of Kyndryl’s common stock for every 5 shares of IBM’s common stock held. This event triggered a Potential Adjustment Event as per the terms and conditions of the Deposit Notes in respect of the common shares of IBM, a Reference Share in the Reference Portfolio of the Deposit Notes. As such, the Initial Value of the common shares of IBM was adjusted as of the closing of the markets on November 3, 2021.