Rates Disclaimer

Data unaudited. Performance results are shown net of all fees and expenses and reflect the reinvestment of dividends and other earnings. Many factors affect performance including changes in market conditions and interest rates and in response to other economic, political, or financial developments. Investment involves risk including the possible loss of principal. No assurance can be given that the performance objectives of a given strategy will be achieved. NYCLASS is not a bank. An investment in NYCLASS is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Past performance is no guarantee of future results. Any financial and/or investment decision may incur losses.

Explanation of Yields

Daily Yield (%): Daily dividend factor multiplied by the number of days in the year (366 days for leap years) multiplied by 100 divided by the NAV.

7-Day Yield (%): Is the sum of the daily dividend factors for the past seven calendar days, multiplied by the number of days in the year (366 days for leap years), multiplied by 100, divided by seven, divided by the NAV.

30-Day Yield (%): Is the sum of the daily dividend factors for the past 30 days, multiplied by the number of days in the year (366 days for leap years), multiplied by 100, divided by 30, divided by the NAV.

YTD “Year-to-Date” Yield (%): Is the sum of the daily dividend factors since the beginning of the calendar year, multiplied by the number of days in the year (366 days for leap years), multiplied by 100, divided by number of days that have transpired year-to-date, divided by the NAV.

Weighted Average Maturity “WAM” (To Reset): Is the sum of all the underlying positions held in the portfolio’s weighted average maturity to reset figures. Weighted average maturity to reset for each underlying position held is calculated by taking the position’s market value, multiplied by the number of days to next rate reset, divided by the total portfolio’s ending market value. For positions that have a fixed coupon rate or are zero coupon bearing instruments, the days to final maturity are utilized in the calculation.

Weighted Average Maturity “WAM” (To Final): Is the sum of all the underlying positions held in the portfolio’s weighted average maturity to final figures. Weighted average maturity to final for each underlying position held is calculated by taking the position’s market value multiplied by the number of days to final maturity, divided by the total portfolio’s ending market value.

Daily Dividend: Is the net income divided by the number of shares in the portfolio as of the close of business.

Net Income: Net income is the summation of interest, accretion of discount, amortization of premium for the underlying positions in the portfolio, and expenses earned for the day.

Net Asset Value (NAV): Net asset value is the net assets divided by the total shares outstanding for the day.

Net Assets: Net assets is the sum of all assets and liabilities of the portfolio or the sum of all income, expenses, and capital of the portfolio.

Investment Calculator: Investment earnings includes interest earned for the “Start Date” through the “End Date.” Example: Start Date = August 8^th and End Date = August 9^th. Interest earned would be for the two days of August 8^th and August 9^th.

Investing involves risks including the possible loss of principal. The investment decisions made by NYCLASS are subject to certain risks and such decisions may not always be profitable. NYCLASS does not guarantee returns or performance against stated benchmarks. Past performance is not a guarantee of future results. Many factors affect performance including changes in market conditions and interest rates and in response to other economic, political, or financial developments. The following is a summary of common risks associated with investing in fixed-income securities.

Interest Rate Risks

The prices of the fixed-income securities in NYCLASS will rise and fall in response to changes in the interest rates paid by similar securities. Generally, when interest rates rise, prices of fixed-income securities fall. However, market factors, such as demand for particular fixed-income securities, may cause the price of certain fixed-income securities to fall while the price of other securities rise or remain unchanged. Interest rate changes have a greater effect on the price of fixed-income securities with longer maturities. The Investment Advisor will seek to manage this risk by purchasing short-term securities.

Credit Risks

Credit risk is the possibility that an issuer of a fixed-income security held in NYCLASS will default on the security by failing to pay interest or principal when due. If an issuer defaults, Participants in NYCLASS may incur losses. The Investment Advisor will seek to manage this risk by purchasing high quality securities as determined by one or more Nationally Recognized Statistical Ratings Organizations and/or the Investment Advisor’s credit research team.

Stable Net Asset Value Risks

Although the NYCLASS Prime Fund is managed to maintain a stable NAV of $1.00 per Share, there is no guarantee that it will be able to do so.

Investment Not Insured or Guaranteed Risk

An investment in NYCLASS is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Liquidity Risk

NYCLASS is subject to certain liquidity risks in which the size of a bond’s market, the frequency of trades, the ease of valuation, and/or issue size may impact the Investment Advisor’s ability to sell investments in a timely fashion or at or near fair value in order to fulfill a Participant’s redemption request.

Market Risk

Market risk is the risk that the value of securities owned goes up or down, sometimes rapidly and/or unpredictably, due to factors affecting securities markets generally or within particular industries.

Issuer Risk

The risk that the value of a security declines for a reason directly related to the issuer such as management performance, financial leverage, and reduced demand for the issuer’s goods or services.

Default Risk

The risk that a bond issuer (or counterparty) will default by failing to repay principal and interest in a timely manner.

All information is assumed to be correct but the accuracy has not been confirmed and therefore is not guaranteed to be correct.

All data presented on this website is unaudited except the Annual Reports shown in the Document Center. Information is obtained from third party sources that may or may not be verified. The information presented should not be used in making any investment decisions. This material is not a recommendation to buy, sell, implement, or change any securities or investment strategy, function, or process. All comments and discussion presented are purely based on opinion and assumptions, not fact. These assumptions may or may not be correct based on foreseen and unforeseen events. All calculations and results presented are for discussion purposes only and should not be used for making calculations and/or decisions.

Data is not to be repurposed as the use of this data may be paid for by Public Trust Advisors, LLC (Public Trust) or a third-party. Should you need to use this data, please contact Public Trust for authorization of use.

Public Trust is required to maintain a written disclosure brochure of our background and business experience. If you would like to receive a copy of our current disclosure brochure, privacy policy, or code of ethics, please contact us.