![]() The borrower will not be able to select which securities will be sold. Stifel Bank & Trust may call the loan, and sell or force the sale of the assets in the collateral account, or any other collateral, without contacting the borrower. In either event, the borrower may be required to post additional collateral and/or repay part or all of any outstanding loan. The market value of your securities may decline, which may result in the value of that collateral no longer covering an outstanding loan amount. The return on your securities must be higher than your financing cost in order for you generate a positive return in your securities account. An increase in interest rates will affect the overall cost of borrowing. The SPA Line of Credit is a full recourse, demand loan using the assets in a brokerage account as collateral and can be called at any time. Securities-based lines of credit involve risk and are not appropriate for all borrowers. Speak with your Financial Advisor about your risk tolerance level, market fluctuations, and specifically the potential risks associated with a Stifel Pledged Asset (SPA) Line of Credit. Understanding Stifel Pledged Asset (SPA) Loans: Unless otherwise specified, products purchased from or held by Stifel are not insured by the FDIC, are not deposits or other obligations of Stifel Banks, are not guaranteed by Stifel Banks, and are subject to investment risk, including possible loss of the principal. Unless otherwise specified, references to Stifel may mean Stifel Financial Corp. ![]() Stifel Bank, Member FDIC, Equal Housing Lender, NMLS# 451163, is affiliated with Stifel Bank & Trust, Member FDIC, Equal Housing Lender, NMLS# 375103, and Stifel, Nicolaus & Company, Incorporated, Member SIPC & NYSE, each a wholly owned subsidiary of Stifel Financial Corp. Lending services for clients of Stifel, Nicolaus & Company, Incorporated are performed exclusively by Stifel Bank and Stifel Bank & Trust (Stifel Banks). You should consult with your legal and tax advisors regarding your particular situation. Stifel does not offer legal or tax advice.
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