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© 2024 The Bank of New York Mellon Corporation

Depositary Receipt business and services are conducted through The Bank of New York Mellon.

BNY MELLON - DR Legal Disclaimer
 

To learn more about DRs, please contact DRBrokerSolutions@bnymellon.com.

 

The information and data provided herein are provided for general informational purposes only.  BNY Mellon does not warrant or guarantee the accuracy, timeliness or completeness of any such information or data.  BNY Mellon does not undertake any obligation to update or amend any information or data, and may change, update or amend any information or data at any time without prior notice.

 

BNY Mellon provides no advice, recommendation or endorsement with respect to any company or securities.  No information or data is intended to provide legal, tax, accounting, investment, financial, trading or other advice on any matter, and is not to be used as such.  We expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon any information or data, including market value loss on the sale or purchase of securities or other instruments or obligations.

 

Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.

 

BNY Mellon collects fees from DR holders pursuant to the terms and conditions of the DRs and any deposit agreement under which they are issued.  From time to time, BNY Mellon may make payments to an issuer to reimburse and/or share revenue from the fees collected from DR holders, or waive fees and expenses to an issuer for services provided, generally related to costs and expenses arising out of establishment and maintenance of the DR program.  BNY Mellon may pay a rebate to brokers in connection with unsponsored DR issuances; brokers may or may not disclose or pass back some or all of such rebate to the DR investor.  BNY Mellon may also use brokers, dealers or other service providers that are affiliates and that may earn or share fees and commissions.

 

BNY Mellon may execute DR foreign currency transactions itself or through its affiliates, or the Custodian or the underlying Company may execute foreign currency transactions and pay US dollars to BNY Mellon.  In those instances where it executes DR foreign currency transactions itself or through its affiliates, BNY Mellon acts as principal counterparty and not as agent, advisor, broker or fiduciary.  In such cases, BNY Mellon has no obligation to obtain the most favorable exchange rate, makes no representation that the rate is a favorable rate and will not be liable for any direct or indirect losses associated with the rate. BNY Mellon earns and retains revenue on its executed foreign currency transactions based on, among other things, the difference between the rate it assigns to the transaction and the rate that it pays and receives for purchases and sales of currencies when buying or selling foreign currency for its own account.  The methodology used by BNY Mellon to determine DR conversion rates is available to registered Owners upon request or can be accessed here.  In those instances where BNY Mellon's Custodian executes DR foreign currency transactions, the Custodian has no obligation to obtain the most favorable exchange rate or that the method by which the rate will be determined will be the most favorable rate, and BNY Mellon makes no representation that the rate is a favorable rate and will not be liable for any direct or indirect losses associated with the rate.  In certain instances, BNY Mellon may receive dividends and other distributions from an issuer of securities underlying DRs in U.S. dollars rather than in a foreign currency.  In such cases, BNY Mellon will not engage in or be responsible for any foreign currency transactions and it makes no representation that the rate obtained by an issuer is a favorable rate and it will not be liable for any direct or indirect losses associated with the rate.

 

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle.  BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).

 

BNY Mellon's name, brand and/or trademarks may not be used, copied or reproduced without the prior express written consent of BNY Mellon.

 

DEPOSITARY RECEIPTS ARE NOT INSURED BY THE FDIC OR ANY OTHER GOVERNMENT AGENCY, ARE NOT DEPOSITS OR OTHER OBLIGATIONS OF, AND ARE NOT GUARANTEED BY, BNY MELLON AND ARE SUBJECT TO INVESTMENT RISKS INCLUDING POSSIBLE LOSS OF PRINCIPAL AMOUNT INVESTED.

 

Please also see "Terms of Use."

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How to Buy DRs

 

Investors can purchase Depositary Receipts through:

 

Global BuyDIRECTSM

Global BuyDIRECT is a BNY Mellon-sponsored dividend reinvestment and direct purchase program for Depositary Receipts of certain non-U.S. companies. Each participating company's plan allows its existing shareholders to use dividends paid by the company to automatically purchase Depositary Receipts. The plans also allow first-time and existing investors to purchase Depositary Receipts of participating companies. All such investments are made through BNY Mellon as transfer agent.
As a participant in Global BuyDIRECT, investors benefit from the direct ownership of their Depositary Receipts, the efficiency of receiving corporate communications directly from the Depositary Receipt issuer, and the savings resulting from reduced brokerage and transaction costs.
BNY Mellon is transfer agent or administrator for what may be considered one of the most diverse groups of direct share purchase plans, representing a wide array of non-U.S. companies from countries around the globe.

 

Some features of our Global BuyDIRECT plans include* :
  

Low minimum investment and reduced transaction costs.
The ability to purchase both full and fractional shares for your account.
Depositary Receipts are held in book entry form; stock certificates are available on request.
The ability for investors to buy Depositary Receipts with monthly deductions from their bank accounts.
Optional cash investments can be made at any time and in various amounts.
Automatic reinvestment of dividends with the option to receive a cash dividend.
Periodic account statements/ownership records, and company reports sent directly from BNY Mellon.

»  For a complete listing of companies offering Global BuyDIRECT plans, or to request brochures and enrollment forms, click here.
* Not all Global BuyDIRECT plans will necessarily offer all of the above features.

 

Your Broker

 

Investors can always purchase Depositary Receipts through their own full-service, discount, and on-line brokerage firms throughout the United States.

 

Shareowner Services and Account Access

Registered Depositary Receipt shareholders can sell shares, access account balances and transaction history, find answers to frequently asked questions and download commonly needed forms.  To speak directly to a BNY Mellon representative, please call 1-888-BNY-ADRS (1-888-269-2377), if you are calling from within the United States.  If you are calling from outside the U.S., please call 201-680-6825. 

You may also send an email inquiry to shrrelations@cpushareownerservices.com or visit the website at https://www-us.computershare.com/investor.

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Depositary Receipts, which can include American Depositary Receipts, Global Depositary Receipts, New York Shares and similar products, are negotiable securities that generally represent a non-U.S. company's equity shares. Although typically denominated in U.S. dollars, Depositary Receipts can also be denominated in Euros or other currencies. Depositary Receipts are often made eligible to trade on a U.S. stock exchange or market although many European and Asian stock exchanges and markets have become popular trading locations in recent years.

Depositary Receipts typically trade, settle and clear in the same manner as securities local to the market on which they are trading, alleviating certain obstacles and expenses associated with cross-border investing.

 

Questions or correspondence about Global BuyDIRECT℠ should be addressed to:
BNYMellon Shareowner Services
P. O. Box 43006
Providence, RI 02940