Moving forward together

You’ll experience some platform downtime on the weekend of your transfer date.

On the Friday of your transfer date, after the close of extended hours trading at approximately 8 p.m. ET, through Monday afternoon (a federal holiday), access to your account(s) will be unavailable on etrade.com and the E*TRADE applications, including account information, trading, transfer requests, and banking features.

If you’re logged on when account access is paused, you’ll be automatically logged off and your current activity or information may not be saved. If you try to log on during the downtime period, you’ll be notified that online access is currently unavailable. Online access will resume Monday afternoon.

Please note that if you have multiple E*TRADE user IDs, online access will be unavailable only for the account(s) being transferred, as well as for any bank accounts associated with the user ID(s) of the transferred account(s).

Due to platform downtime over the weekend of your transfer date, access to certain online-initiated banking features on etrade.com and the E*TRADE applications will be affected for bank accounts, as well as for brokerage accounts with banking features, if either:

• You have banking features associated with your brokerage account(s).
• You have a bank account at Morgan Stanley Private Bank that you access with the same log-on credentials as the brokerage account(s) being transferred. Please note that this type of banking account will be impacted by platform downtime and will not be accessible online during the weekend of your transfer date.

The following banking and cash management features will be impacted for the account types mentioned above:

• Wires. Over the weekend of your transfer date, you will not be able to initiate domestic or international wire transfers from your brokerage, advisory, or bank account(s).
• Money transfers and real-time payments. Over the weekend of your transfer date, you will not be able to initiate transfers or receive real-time payments, and your scheduled transfers between E*TRADE brokerage accounts and Morgan Stanley Private Bank accounts will have delayed processing. You will need to use your new nine-digit account number after your transfer date when initiating real-time payments.
• Online Bill Pay. Over the weekend of your transfer date, you will not be able to view, initiate, or modify Bill Pay requests.
• Brokerage check requests. Over the weekend of your transfer date, you will not be able to request a check or checkbook from your E*TRADE brokerage account.
• Check deposits. Over the weekend of your transfer date, you will not be able to access the E*TRADE mobile check deposit feature.
• Available cash balance and banking activity. Over the weekend of your transfer date, you will not be able to view available balance information for your brokerage, advisory, or bank accounts.
• Opening a new bank account. Over the weekend of your transfer date, you will not be able to open a new bank account with Morgan Stanley Private Bank. You can do so, however, by visiting etrade.com once the transfer has been completed.

Important:

• Debit cards associated with E*TRADE brokerage accounts will be temporarily unavailable for a period of time during the weekend of your transfer date. Please plan accordingly, as this may impact both purchases and cash withdrawals via these debit cards. Debit cards associated with bank accounts, however, will remain fully functional, and you can continue to make payments with the existing checks associated with your bank or brokerage accounts.
• If you have any urgent banking requests over the weekend of your transfer date (e.g., if you suspect fraud in your account or need to report a lost or stolen debit card), please contact E*TRADE Customer Service for assistance.

After the close of extended hours trading at approximately 8 p.m. ET on the Friday of your transfer date, any open orders will be canceled for all product types except futures (e.g., equities, ETFs, options, mutual funds, and bonds) and may require action on your part.

• Action may be required of you: Conditional orders, secondary market fixed income orders, certain stop orders, fractional orders for less than one share, and orders that cannot be adjusted due to late corporate action announcements will be canceled and will NOT be automatically reentered. Orders may also not be automatically reentered if restrictions exist for a given account or symbol. Learn more
• Action not required of you: All open orders other than those listed in the bullet above will be canceled and automatically reentered in the transferred account(s). Learn more

Note: You can learn more about the various types of orders by visiting Understand order types.

Open orders that are canceled and automatically reentered may cause you to lose priority for your order, which means that your order may execute at a time later than otherwise would have been the case if priority had not been lost. If you do not wish for us to automatically reenter your orders, you must cancel those orders before your transfer date.

If you have open orders over the weekend of your transfer date, please carefully review the transfer guidelines for the order types you use. We strongly recommend that you review all your open orders after the transfer of your account(s) and prior to the opening of the next trading session.

The account’s order history and any saved open orders will be transferred from the previous E*TRADE account number to the new account number. Any open orders canceled due to the transfer will show as canceled in your order history, even if they’re automatically reentered in your transferred account(s). You will not receive cancellation alerts for orders that are canceled and automatically reentered. Orders that are canceled and not reentered may or may not receive cancellation alerts, as described below.

The order types shown below will be canceled but will NOT be automatically reentered. If you’d like to reenter any of these order types, you’ll need to do so manually after the transfer.

Conditional orders

• Open conditional orders (e.g., contingent, quote trigger, bracketed, one-cancels-other, one-triggers-other, and one-triggers-OCO) will be canceled and will not be automatically reentered.
• Cancellation alerts will be sent for all canceled conditional orders.

Secondary market fixed income orders

• Open secondary market fixed income orders will be canceled and will not be automatically reentered.
• Cancellation alerts will be sent for all canceled secondary market orders.

Certain stop and stop limit orders

• Any stop order types (stop on quote, hidden stop, and trailing stop) with a partial fill or a stop price that has been reached based on prevailing market data at the time of reentry will be canceled, and a cancellation alert may not be generated.
• For example, an open stop on quote order with a sell stop at $50 cannot be reentered if prevailing market data indicates that the security is already priced below $50. Also, trailing stop orders with a stop price that has already been reached will not be automatically reentered.
• Stop orders and stop limit orders on multi-legged spreads will be canceled and will not be automatically reentered.

Orders impacted by corporate actions

• Required open order adjustments for certain corporate actions (e.g., ex-dividend dates and stock splits) will be performed prior to reentered orders being sent to market.
• For example, a limit buy order for a stock that will trade ex-dividend in the next trading session will be reentered at a limit price adjusted by the amount of the dividend.
• These adjustments will be made on a best-efforts basis. If an order cannot be adjusted prior to being sent to the market (e.g., in the case of a late ex-dividend announcement), the order will be canceled, and a cancellation alert may not be generated.

Fractional orders to sell less than one share

• Fractional open orders to sell less than one share (e.g., an order to sell 0.75 shares) will not be automatically reentered.

Passive limit orders

• Orders with limit prices that are extremely far from the current market price will be automatically reentered but could be rejected at the market center to which they are routed prior to the next market open. Whether or not the order is accepted may depend on the policies of the market center.
• For example, if a stock is trading at $5, a limit order to sell the stock at $300 will be automatically reentered, but it could be rejected at the market center prior to market open on the next business morning.
• To see whether such an open limit order has been rejected, please log on to your account after the transfer and again around the time of the next market open.

Except for certain order types, most orders will be canceled and automatically reentered during the weekend of your transfer date. Here’s some additional information about what this may mean for you.

Open orders with expiration dates

• Reentered open orders will have the same order expiration date as the original open order.
• For example, if a “Good for 60 Days” order has been open for 40 days, it will be automatically reentered in the transferred account with 20 days until expiration.

Partially filled open orders

• Partially filled open orders (except for conditional and certain stop orders described elsewhere) will be automatically reentered with an open order for the remaining quantity only.
• For example, if an order to buy 100 shares has an executed quantity of 30 and a remaining open quantity of 70, the reentered open order will be to buy the remaining 70 shares.

Fractional orders to sell more than one share

• Fractional brokerage orders to sell more than one share will be automatically reentered for the whole-number quantity only (e.g., an order to sell 50.75 shares will be reentered as an order to sell 50 shares). You will need to manually reenter the order to sell the remaining fractional shares (0.75 shares) after the transfer.
• Fractional stock plan orders to sell more than one share will be automatically reentered for a quantity equal to the sum of the rounded tax lots (see "Tax lot selections" below).

Tax lot selections

• Entries you made in the Lot Selector when placing the original order will be retained, but any decimal quantities you entered will be rounded down to the nearest whole number and any entries for less than one share will round down to zero.
• If you’ve selected specific tax lots to be assigned upon execution of an order, those same lots will be selected for the automatically reentered open order so long as the quantity to be allocated is a whole (nonfractional) number.
• If you’ve selected specific tax lots and entered a fractional quantity for allocation, only the whole quantity will be automatically entered for allocation in the reentered order. For example, if you have a tax lot for 3.50 shares and you enter an order specifying that you wish to allocate 2.50 shares, the reentered order will allocate only 2.0 shares of that tax lot and any remainder will be allocated according to the account’s default tax lot preference.
• If you’ve selected specific tax lots and entered a fractional quantity of less than one share for allocation of a given tax lot, that tax lot will not be specified for allocation in the automatically reentered order. For example, if you have a tax lot for 3.50 shares and you enter an order specifying that you wish to allocate 0.50 shares, the reentered order will not contain any specification for that tax lot and any remainder will be allocated according to the account’s default tax lot preference.

Stop limit orders

• Any stop limit order types (stop limit on quote and trailing stop limit) with a partial fill or a stop price that has been reached based on prevailing market data at the time of reentry will be automatically reentered as an open limit order at your specified limit price.
• For example, an open stop limit on quote order with a sell stop at $50 and a limit price at $51 will be automatically reentered as a limit order to sell at $51 if prevailing market data indicates that the security is already priced below $50.
• Any stop limit on quote orders with a stop price that was previously reached but did not receive any executions and where the stop price is no longer reached based on prevailing market data at the time of automatic reentry will be automatically reentered as a stop limit on quote order with the same conditions as the original open order.
• For example, if the original order did not receive any executions, an open stop limit on quote order with a sell stop at $50 and limit price at $51 where the security moved below $50 but is once again above $50 at the time of automatic reentry based on prevailing market data will be automatically reentered as a stop limit on quote order with a sell stop at $50 and limit price at $51. In this scenario, the security will need to reach the stop price again before it is triggered and becomes a limit order.

Reserve orders

• Reserve orders will be automatically reentered as reserve orders if the remaining quantity in the order is greater than the display quantity. Partially filled reserve orders with a remaining quantity less than or equal to the display quantity cannot be automatically reentered as reserve orders and will be reentered as limit orders for the remaining quantity.

As a result of the transfer, your sweep option will likely be changing. You can learn more about this change by reading Uninvested cash sweeps. Below you’ll find information about how this change may affect your account before, during, and after the weekend of your transfer date.

Please note: Starting one week before your transfer date, you will not be able to change the sweep option for your account until after the transfer is complete. Also, the sweep option for new accounts opened by existing clients starting Friday a week ahead of the transfer date, will default to the Cash Balance Program until the transfer is complete.

A mutual fund's prospectus contains its investment objectives, risks, charges, expenses, and other important information and should be read and considered carefully before investing. For a current prospectus, visit etrade.com/mutualfunds.

You could lose money by investing in a money market mutual fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The Fund may impose a fee upon sale of the shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below the requirement minimum because of market conditions or other factors. An investment in any money market mutual fund is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

Money market mutual funds may be subject to liquidity fees and redemption gates if determined appropriate by the money market mutual fund's board. If a redemption gate is imposed, you will not be allowed to sell your positions and redeem shares from that money market mutual fund until the gate is lifted. If a liquidity fee is imposed, the liquidity fee will be deducted from the cash proceeds when you redeem your shares. You will receive the cash proceeds less the liquidity fee and any other applicable fees.

1. Current sweep options are: Extended Sweep Deposit Account Program (ESDA); Retirement Sweep Deposit Account Program (RSDA); International Sweep Deposit Account Program (ISDA); Cash Balance Program (CBP); and the JPMorgan Money Market Fund (symbol: OGVXX, JUSXX, or HTSXX). To check your sweep option, see your most recent account statement.

2. Sweep options for most client accounts will be swept to the Bank Deposit Program (BDP). Excess balances in eligible accounts will be swept to the Morgan Stanley Money Market Fund (symbol: MGPXX, DWGXX, or AAGS). Sweep options in pattern day trading accounts will remain in the Cash Balance Program (CBP).

3. JPMorgan US Government Money Market Fund, E*TRADE Class (“JSUXX”) is being decommissioned on September 30, 2023, and you will be transferred to BDP on or about September 1, 2023. If the Transfer is delayed, we will convert you from JSUXX to CBP on or about September 1, 2023, until we can execute the conversion to BDP. You will earn interest in CBP pursuant to the applicable rate, available at etrade.com/rates. If necessary, we will notify you when we convert your account from CBP to BDP.

Also, please review the following unique scenarios:

• For accounts that are closed: Accounts that are closed but that still contain a cash balance and designated sweep option will be converted to CBP on Friday. Closed accounts are not eligible for a sweep option. In CBP, the cash in your account will be held as a free credit balance and will continue to earn interest that is paid monthly.
• For open accounts without cash sweeps that have not been flagged for pattern day trading: These accounts will be swept into BDP, if eligible, on Friday. You’ll begin earning interest in BDP once the sweep is implemented. If you previously communicated a preference to remove the sweep option, please call Customer Service at 800-387-2331 to request to remove the sweep again.

Here are a few additional considerations leading up to and during the weekend of your transfer date:

Incoming account transfers: After the Tuesday before your transfer date, requests received to transfer assets from another firm will be initiated on the first business day following the transfer date in your transferred account.

Outgoing account transfers: After the Friday a week ahead of your transfer date, requests received to transfer assets to another firm will be rejected back to the requesting firm. If your outgoing transfer is rejected, you’ll be instructed to have the new firm re-submit the request on or after the first business day following the transfer date using your new account number.

Positions that may not immediately transfer:

• If any of your securities are affected by a voluntary corporate action (e.g., a tender offer) during the weekend of your transfer date, they will remain in your current E*TRADE account until the corporate action is completed, after which time the securities or resulting cash proceeds will be released to your transferred account. Some securities affected by a mandatory corporate action soon after your transfer date may also remain in your current E*TRADE account until the corporate action is completed.
• The value of any securities or resulting cash proceeds for corporate action events that remain in your current E*TRADE account will not be included in the net asset value or net account value of your transferred account, nor will the securities be included among your positions or available for trading. If you have any affected securities, there will be a message on the Complete View and Positions pages of all E*TRADE platforms informing you of the securities remaining in your current E*TRADE account and their value.

Pending trades: Executed trades that have not yet reached their settlement date at the time of the transfer will be moved to your transferred account during the transfer. You’ll see this activity as a transfer of an executed, not settled trade. If applicable, sell trades that are executed, not settled will be reported on your E*TRADE 1099 for 2023.

Line of Credit accounts:

• Line of Credit (LOC) account applications submitted between the Friday a week ahead of your transfer date and the Monday after your transfer date will not be processed. Customer Service can assist you with your application starting the Tuesday after your transfer date.
• You will not be able to access your LOC account through etrade.com during the weekend of your transfer date.
• Some LOC activities will not be available during the weekend of your transfer date—e.g., viewing loan activity, modifying loan and collateral accounts, or creating or amending payment instructions.
• If you have questions about certain LOC issues during the weekend of your transfer date (e.g., confirming your account balance or initiating a draw or payment), please call Customer Service for assistance.
• Your LOC documents and other sources of loan information indicate that your brokerage account is maintained at E*TRADE and that E*TRADE is your broker-dealer. After your transfer date, all references to E*TRADE and E*TRADE Capital Management, LLC in these materials should be understood to refer to Morgan Stanley as your broker-dealer and Registered Investment Adviser.
• The fact that references to E*TRADE shall be deemed to be references to Morgan Stanley after your transfer date does not change the terms of your loan or your contractual obligations as described in your loan documents, and does not change the ownership or terms on your pledged collateral account(s). These changes will not impact the way you access your LOC account on etrade.com, make payments, or request draws.

Home loans: If you’re seeking information about home loans during the weekend of your transfer date, you will not be able to use mortgage calculators, apply online, check application status, or upload documents on etrade.com or Morgan Stanley Online over that weekend. Clients whose mortgage loans were closed and previously funded prior to the transfer will be able to access their loan servicing information at Cenlar without interruption.

Linked accounts at Morgan Stanley Online: During the weekend of your transfer date, E*TRADE accounts that have been linked to Morgan Stanley Online credentials will be unavailable. Access to linked accounts will be restored after the transfer is completed.