How To Buy DRs

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.

Investors can purchase Depositary Receipts through:

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.

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

© 2016 The Bank of New York Mellon Corporation. Depositary Receipt business and services are conducted through The Bank of New York Mellon.