Free Writing Prospectus Flowchart

Summary

A free writing prospectus (FWP) is any written communication other than a statutory prospectus that constitutes an offer to sell or a solicitation of an offer to buy registered securities. The use of FWPs is governed by Rules 164 (17 C.F.R. § 230.164) and 433 (17 C.F.R. § 230.433) promulgated under the Securities Act of 1933, as amended (Securities Act). The flow chart linked above outlines the circumstances under which you can use an FWP.