What does equivalent investment notional value mean?††

What we mean by equivalent investment notional value is essentially taking the economic value of your deposits and purchasing an equivalent investment on your behalf.†† Save buys strategy-linked securities whose value is equal to the notional value of the purchased strategy-linked security. The notional value accounts for the total value of the position, vs. market value which is the price at which that position can be bought or sold in the market.

Any equivalent investment notional value is funded by Save partner banks, not from customer deposit accounts, and there is no requirement for customer outlay of their own capital, nor do we fund it from customer accounts.†† These external revenues to the customers' savings are used to finance the investment and ensure it doesn't lose value.

For the Market Savings program, all cash deposited by customers is placed in an FDIC-insured bank account³ and is not used to fund investments and is therefore not at risk of loss. It is important to note that Save is not a bank, but we partner with FDIC-insured member banks.