E*TRADE from Morgan Stanley

¹ Certain accounts may have other minimum asset levels and other eligibility requirements. E*TRADE charges $0 commission for online US-listed stock, ETF, mutual fund, and options trades. Exclusions may apply and E*TRADE reserves the right to charge variable commission rates. Underlying mutual fund fees and expenses apply as described in each fund prospectus. E*TRADE receives shareholder servicing (12b-1) fees from many available mutual funds as well as revenue sharing and administrative service fees from most funds and/or their affiliates. For more information, please review our Relationship Summary, which is available on our website. The standard options contract fee is $0.65 per contract (or $0.50 per contract for customers who execute at least 30 stock, ETF, and options trades per quarter). The retail online $0 commission does not apply to Over-the-Counter (OTC), foreign stock transactions, large block transactions requiring special handling, futures, or fixed income investments. Service charges apply for trades placed through a broker ($25). Stock plan account transactions are subject to a separate commission schedule. Additional regulatory and exchange fees may apply. For more information about pricing, visit etrade.com/pricing

² The Annual Advisory Fee is 0.30% and is the direct fee charged to any client in the advisory program. E*TRADE Capital Management will waive the Core Portfolios advisory program's monthly advisory fee for the first three full months after an eligible enrollment. Eligible E*TRADE Securities LLC brokerage accounts must enroll in Core Portfolios and have funded the account with at least the required minimum amount by December 31, 2022. The minimum investment is $500 and there are no brokerage trading commissions associated with the advisory program. You will start to pay the program's annual advisory fee immediately following the initial three-month waiver period. The advisory fee waiver does not apply to any other fees and expenses which you may incur in connection with a Core Portfolios account, including, but not limited to, the underlying fees and expenses of any exchanged traded fund or money market fund held in the account. The advisory fee waiver does not apply to ETCM's Blend Portfolios, Dedicated Portfolios, and Fixed Income Portfolios advisory programs. Excludes non-US residents and any jurisdiction where this offer is not valid.

Core Portfolios are offered by E*TRADE Capital Management, LLC ("ETCM"), a Registered Investment Adviser and affiliate of Morgan Stanley. Please read the E*TRADE Wrap Fee Programs Brochure for more information on the investment advisory services offered. Diversification and asset allocation strategies do not ensure profit or protect against loss. Investments in securities and other instruments involve risk and will not always be profitable.

Securities products and services offered through E*TRADE Securities LLC, Member SIPC, a subsidiary of Morgan Stanley.

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CRC# 5280956 (12/2022)