Banco de Madrid ERISA Service Disclosure

Banco de Madrid Securities LLC and its affiliates are required by federal regulations to provide disclosures regarding compensation for services furnished to employee pension benefit plans that are subject to the Employee Retirement Income Security Act of 1974, as amended. If you are not the plan fiduciary responsible for procuring the services described herein, please forward these disclosures to the named fiduciary of the plan. If these disclosures do not apply to you or any plan you represent, you may consider the information reflected herein as you wish, but you need not take any action.