Procedures & Details
For the placement of NextGen® CDs
Procedures for Placement
Electronic Book-Entry Settlement and Redemption: Any institution issuing Maine CDs that has the capacity to engage in electronic book-entry settlement of the purchase or redemption of a Maine CD allowing for simultaneous “delivery-versus-payment” (such as through DTC, e.g.) shall do so with respect to all such transactions in Maine CDs for the Account.
Facsimile Transmissions for Settlement: Any institution that is not capable of engaging in electronic book-entry transaction settlement as described above shall, before the close of business on the day the institution purchases a Maine CD, send a completed receipt signed by an authorized officer of such institution to BlackRock by facsimile transmission (302-793-7028) attn: NextGen® CD Program). Such receipt shall detail all material terms of the certificate of deposit and the transaction therein, including but not limited to: the name, address, and telephone number of the institution; name of the Account; date of transaction (the date the funds were received by the institution); date of maturity (the agreed upon date that will be 12-months from the date of settlement); dollar-amount invested; rate of interest; face amount of certificate (if different from amount invested); and any applicable fees or charges.
Other than for collateralization if requested, there must be no additional fees or charges. Interest will be due at maturity. The Tax Identification Number of this security will be 01-0392006. BlackRock is under contract to act as the Program Manager for The
NextGen® College Investing Plan. The placement of this security, as well as authorized signers for the security, will be handled by BlackRock Capital Management, Inc. Further correspondence will be with the Account’s custodian or subcustodian as appropriate. The custodian’s information is:
State Street Bank Corporation
1776 Heritage Drive
John Adams Building - 2N
North Quincy, MA 02171
Attn: James Bernat
Non-Electronic Book-Entry Redemption: Upon the redemption of a Maine CD, BlackRock Capital Management, Inc. shall instruct the Account’s custodian or subcustodian (as appropriate) to tender the physical certificate of deposit to the issuer in exchange for a receipt meeting the terms described above. Upon satisfaction of required documentation, the issuing institution shall immediately forward payment therefore (by wire or check) to the Account. Funds are expected to be paid upon the maturity of the CD. If funds are not paid in a timely manner (at maturity), additional interest at the current Fed Funds rate may be required to reimburse the NextGen® Cash Allocation Account. All checks must be sent by overnight courier.
