Monetary and Non-Monetary Benefits Schedule

Monetary and Non-Monetary Benefits Schedule

(With effect from 1 July 2017)

Investment Products / Services - Monetary and non-monetary benefits receivable by DBS Bank Ltd. (the "Bank") and/or its associates

The benefits listed below are not exhaustive. In exceptional cases, the benefits for certain specialized products may fall outside the scope of the list below and, in such event, the client will be notified accordingly. If you have any queries about the below, please contact your Relationship Manager.

For accounts with the Bank managed by DBS Bank (Hong Kong) Limited (“DBSHK”), DBSHK may share a portion of the monetary and/or non-monetary benefits receivable or received by the Bank.

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The Bank acting as principal and not as advisor or agent to the client1

Type of Investment / ProductMonetary and/or non-monetary benefits receivable by the Bank and/or its associates2
Currency Linked Investments3/ Equity-Linked Notes3 Up to half of the cost yield4
OTC Derivatives Transactions5 Single Options and Bundle of Options6, covering interest rates, credit, FX, commodities and equities:
- Up to half of the option premium7 in the case of a Single Option or of each option constituting the Bundle of Options.

Forwards, Futures & Swaps, OTC Accumulators / Decumulators8, covering interest rates, credit, FX9, commodities and equities:
- Tenor up to 1 year: Up to 2.25% of the notional amount of the trade.
- Tenor greater than 1 year and up to 3 years: Up to 3% of the notional amount of the trade.
- Tenor greater than 3 years and up to 5 years: Up to 4% of the notional amount of the trade.
- Tenor beyond 5 years: Up to 5% of the notional amount of the trade.

The notional amount of the trade is calculated as unleveraged notional amount of the trade x leverage factor (if any).
Structured Notes (including Yield Enhanced Investments, Structured Investment Products, Securitized Structured Products (excluding Equity-Linked Notes), Structured Deposits, Synthetic Deposits & Loans, FX Structured Products (excluding Currency-Linked Investments), Equity Linked Investments, Interest Rate Linked Notes, Credit Linked Notes; each applicable to both Buy & Sell trades)10 - Tenor up to 1 year: Up to 2.25% of the notional amount of the trade.
- Tenor greater than 1 year and up to 3 years: Up to 3% of the notional amount of the trade.
- Tenor greater than 3 years and up to 5 years: Up to 4% of the notional amount of the trade.
- Tenor beyond 5 years: Up to 5% of the notional amount of the trade.
Bonds / Fixed Income – (Rebates for Primary issuance)11 Any rebate, commission or fee received from the issuer will be up to 1% of the notional amount of the trade and will be disclosed to the client on a pre-trade basis.
Bonds / Fixed Income (Primary and secondary market) Non-distressed Bond:
- Tenor up to 5 years: Up to 2% of the notional amount of the trade
- Tenor beyond 5 years: Up to 3% of the notional amount of the trade

Distressed Bond12 (All Tenors):
- Up to 5% of the notional amount of the trade
Forward Foreign Exchange - Notional amount of trade below SGD 50,000: Bank’s board rate
- Notional amount of trade above SGD 50,000: Up to 1% of FX rate
Paper Gold / Silver Spot Up to 1% of the spot price of XAU/XAG
Physical Gold Up to 1% of the spot price of gold

1 Where the Bank acts as principal, the Bank and/or any of its associates will benefit from the client’s purchase / sale of the product.
2 The benefits receivable as described in this column are subject to any pre-sale process and/or documentation providing otherwise.
3 Fees and charges incurred by the Bank and/or any of its associates as well as profit margins, if any, are inherently contained and subsumed into the calculation of the interest rate, interest amounts and/or other variables of the product.
4 The “cost yield” refers to the market value of the option sold by the client plus the interest rate of deposit.
5 Benefits received by the Bank and/or any of its associates on the client’s purchase / sale of this product will vary depending upon a number of factors including but not limited to the notional amount, product tenor, market conditions, liquidity, etc.
6 A “bundle of options” refers to a combination of options aggregated in one transaction.
7 “Option premium” refers to the market value of the option sold or bought by the client.
8 OTC Accumulators / Decumulators include without limitation related products such as Target Accrual Redemption Forwards and Pivot Target Accrual Redemption Forwards.
9 Excluding FX forwards.
10 Fees and charges incurred by the Bank and/or any of its associates as well as profit margins, if any, are inherently contained and subsumed into the calculation of the interest rate, price, interest amounts and/or other variables of the product.
11 This relates to any rebate, commission or fee receivable by the Bank and/or any of its associates from the issuer (and is in addition to the spread described in the category below under “Bonds / Fixed Income (Primary and secondary market)”).
12 A distressed bond generally refers to a security of a company or a nation’s central bank that is (i) in default and/or the issuer of which is under bankruptcy protection, or (ii) in a distressed situation and at risk of default.

Important Notes:
  1. The Bank is an affiliate of DBS Group Holdings Ltd. The Bank may act as both issuer and distributor of a Structured Note and/or other investment product. The client, in choosing to transact in the product, acknowledges and accepts the aforementioned notwithstanding the Bank having Chinese Wall policies.
  2. In cases of early termination of an investment product before its maturity, the client may receive less than the principal amount initially invested or potentially lose the entire principal sum invested in the product. In addition, there may be administrative fees, charges and, if applicable, Premature Termination Costs (as defined in the Terms and Conditions) imposed in connection with the early termination of the product.

The Bank acting as agent and not as advisor or principal to the client

Type of Investment / ProductMonetary and/or non-monetary benefits receivable by the Bank and/or its associates13
Investment Funds14 Up to 70% of the management fee receivable by the fund house15

13 The benefits receivable as described in this column are subject to any pre-sale process and/or documentation providing otherwise.
14 The Bank and/or its associates may additionally receive commissions, rebates and other fees from the product issuer and/or fund house. In addition, the Bank and/or any of its associates may receive marketing sponsorship from the product issuer and/or fund house.
15 The management fee receivable by the fund house is disclosed in the relevant offering documentation.

Important Notes:
  1. The Bank is an affiliate of DBS Group Holdings Ltd. The Bank may act as both issuer and distributor of a Structured Note and/or other investment product. The client, in choosing to transact in the product, acknowledges and accepts the aforementioned notwithstanding the Bank having Chinese Wall policies.
  2. In cases of early termination of an investment product before its maturity, the client may receive less than the principal amount initially invested or potentially lose the entire principal sum invested in the product. In addition, there may be administrative fees, charges and, if applicable, Premature Termination Costs (as defined in the Terms and Conditions) imposed in connection with the early termination of the product.

The Bank acting as referrer / distributor to the client

Type of Product / ServiceReferral fee receivable by the Bank from a third party / product provider
PE Access16 Up to 3% of the amount committed17
Insurance (Broker model)18 The Bank receives from the insurance broker up to 60% of the amount equivalent to the “Total Distribution Cost To-Date” payable to the insurance broker. The “Total Distribution Cost To-Date” is set out in the “Benefit Illustration” section of the insurance policy.

Type of Product / ServiceMonetary and/or non-monetary benefits receivable by the Bank and/or its associates
Insurance (Direct model)19 The Bank receives the amount equivalent to the “Total Distribution Cost To-Date” as set out in the “Benefit Illustration” section of the insurance policy.

16 PE Access is a referral service of the Bank providing the client with access to private equity investment opportunities which the Bank may be apprised of from time to time, subject to the applicable terms and conditions.
17 The “amount committed” refers to the capital amount the client has agreed to commit to the relevant investment.
18 The broker model involves the Bank referring the client to an insurance broker in respect of a sale of the third party insurance policy.
19 The direct model involves the Bank making a direct sale to the client of the third party insurance policy. The Bank acts in the capacity as distributor.

Important Notes:
  1. The Bank is an affiliate of DBS Group Holdings Ltd. The Bank may act as both issuer and distributor of a Structured Note and/or other investment product. The client, in choosing to transact in the product, acknowledges and accepts the aforementioned notwithstanding the Bank having Chinese Wall policies.
  2. In cases of early termination of an investment product before its maturity, the client may receive less than the principal amount initially invested or potentially lose the entire principal sum invested in the product. In addition, there may be administrative fees, charges and, if applicable, Premature Termination Costs (as defined in the Terms and Conditions) imposed in connection with the early termination of the product.