Prospect Capital Convertible Preferred Stock Offering

Prospect Capital Convertible Preferred Stock Offering
Offering Summary
The Offering
Prospect Capital Convertible Preferred Stock Offering
THE OFFERING PRICE
$25.00 per share
Minimum Investment
$5,000
OFFERING SIZE
$1 Billion
DEALER-MANAGER
Preferred Capital Securities, LLC
Prospect Capital Convertible Preferred Stock Series A

DIVIDEND RATE
5.5% annualized dividend, intended to be paid monthly.
STATED VALUE
$25.00 per share
LIQUIDITY
Investor has the right to redeem the Preferred Stock at stated value, subject to a five-year declining conversion fee.
FIVE YEAR DECLINING CONVERSION FEE
Conversion Price:
During year one, 100% of the stated value less 9% conversion fee, plus any accrued but unpaid dividends.
During year two, 100% of the stated value less 8% conversion fee, plus any accrued but unpaid dividends.
During year three, 100% of the stated value less 7% conversion fee, plus any accrued but unpaid dividends.
During year four, 100% of the stated value less 6% conversion fee, plus any accrued but unpaid dividends.
During year five, 100% of the stated value less 5% conversion fee, plus any accrued but unpaid dividends.
DEATH Put
0% Conversion Fee
Prospect Capital Convertible Preferred Stock Series M

DIVIDEND RATE
5.5% annualized dividend, intended to be paid monthly.
STATED VALUE
$25.00 per share
LIQUIDITY
Investor has the right to convert the Preferred Stock at stated value, subject to a 90-day dividend recapture in the first year
DEATH Put
0% Conversion Fee

Prospect Capital Convertible Preferred Stock Offering
Offering Summary
The Offering
Prospect Capital Convertible Preferred Stock Offering
THE OFFERING PRICE
$25.00 per share
Minimum Investment
$5,000
OFFERING SIZE
$1 Billion
DEALER-MANAGER
Preferred Capital Securities, LLC
Prospect Capital Convertible Preferred Stock Series A

DIVIDEND RATE
5.5% annualized dividend, intended to be paid monthly.
STATED VALUE
$25.00 per share
LIQUIDITY
Investor has the right to redeem the Preferred Stock at stated value, subject to a five-year declining conversion fee.
FIVE YEAR DECLINING CONVERSION FEE
Conversion Price:
During year one, 100% of the stated value less 9% conversion fee, plus any accrued but unpaid dividends.
During year two, 100% of the stated value less 8% conversion fee, plus any accrued but unpaid dividends.
During year three, 100% of the stated value less 7% conversion fee, plus any accrued but unpaid dividends.
During year four, 100% of the stated value less 6% conversion fee, plus any accrued but unpaid dividends.
During year five, 100% of the stated value less 5% conversion fee, plus any accrued but unpaid dividends.
DEATH Put
0% Conversion Fee
Prospect Capital Convertible Preferred Stock Series M

DIVIDEND RATE
5.5% annualized dividend, intended to be paid monthly.
STATED VALUE
$25.00 per share
LIQUIDITY
Investor has the right to convert the Preferred Stock at stated value, subject to a 90-day dividend recapture in the first year
DEATH Put
0% Conversion Fee
PCS PRIVACY POLICY
PLEASE READ THIS PRIVACY POLICY CAREFULLY.
By accessing or otherwise using this website (the “Website”) you agree to be bound contractually by this Privacy Policy.
Effective Date: July 10, 2017
Modification of Privacy Policy. We reserve the right to modify this Privacy Policy at any time by posting amended terms on this Website. Your continued use after such notice indicates your acceptance of the amended Privacy Policy. You should check this Privacy Policy periodically for modifications by referencing the Effective Date posted above.
Privacy Statement. Preferred Capital Securities, LLC (“PCS”), or its affiliates, operates this Website. All references to “we”, “our” “us” and similar terms shall refer to PCS and its affiliates. We regard the privacy and security of user information as a critical component of the services that we offer to our Website users. The following information explains our information gathering and dissemination practices.
Registration Data. We reserve the right to require you to register to receive certain benefits, products or services and to provide certain registration data including your name, country, zip code or postal code (as appropriate) and email address (“Registration Data”).
Personally Identifiable Data. Personally identifiable information is any information that concerns you individually or can be used to identify or contact you (“Personally Identifiable Information”). For example, the Registration Data includes Personally Identifiable Information as does any other information you submit that identifies you individually. We will not collect any Personally Identifiable Information from you unless you voluntarily submit such information to us. Therefore, if you do not want us to obtain any Personally Identifiable Information about you, do not voluntarily submit such information to us. You do not have to provide us with any Personally Identifiable Information to visit or browse our Website. However, if you choose to withhold requested information, you may not be able to visit or view all sections of our Website. If you become a registered user and make postings on the Website, we may collect information about your postings. This information may include, without limitation, areas of our Website on which you post, the content of your post, posts that are responded to, and the individuals or entities with whom you communicate. You may also choose to communicate with us through email, via our Website, via telephone, in writing, or though any other means. We collect all information in these communications, and because such information may be Personally Identifiable Information, we will only use such information in accordance with this Privacy Policy.
Automatic Collection of Non-Personally Identifiable Information. When you visit or browse our Website, or become a registered user of our Website, we may also collect information that by itself cannot be used to identify or contact you, such as demographic information (like age, profession or gender) (“Non-Personally Identifiable Information”). Non-Personally Identifiable Information may also include certain anonymous information about the type of browser you use, the server name and IP address through which you access the Internet (such as “aol.com” or
“earthlink.net”), the date and time you access our Website, the pages you access while on our Website, and the Internet address of the website, if any, from which you linked directly to our Website. Non-Personally Identifiable Information is used to help us to understand the characteristics of people who visit our Website and to improve and market our Website in general. In the event that we link any Non-Personally Identifiable Information with Personally Identifiable Information, we will treat such information as Personally Identifiable Information and only use such information in accordance with this Privacy Policy.
Information We Use. We may use the Personally Identifiable Information collected through our Website primarily for such purposes as:
- helping to establish and verify the identity of users;
- opening, maintaining, administering and servicing users’ accounts or memberships;
- processing postings and sending related communications;
- providing services and support to users;
- improving our Website, including tailoring it to users’ preferences;
- responding to users’ questions, inquiries, comments and instructions;
- maintaining the security and integrity of our systems; and
- fulfilling your orders.
In general, we use the Personally Identifiable Information collected on our Website to help us understand who uses our Website and how it is used, to personalize your experience, to assist you in using our Website and to improve our Website.
If you become a registered member of our Website, we may use your information to send you a welcoming email that may confirm your user name and password. If you decide to “opt-in,” we may send you electronic newsletters, contact you about online products, related information and news items that may be of interest to you, and provide you with targeted feedback. If you decide you no longer want to receive these communications from us, we will provide you with an option to “opt-out” and change your preferences.
We also use the Non-Personally Identifiable Information collected automatically by our servers primarily to help us administer and improve our Website.
Cookies. Cookies are pieces of information that a website transfers to your computer’s hard disk for record-keeping purposes. Cookies in and of themselves do not personally identify users, although they do identify a user’s computer. Most browsers are initially set up to accept cookies. If you prefer, you can set your browser to refuse cookies. However, you may not be able to take full advantage of a website if you do so. We reserve the right to use cookies to collect demographic and profile data for purposes of delivering content specific to your interests. Advertisers that display ads on our Website may also use cookies; however, we do not have access to the information obtained from cookies issued from other sites.
IP Addresses. IP addresses are used by your computer every time you are connected to the Internet. Your IP address is a number that is used by computers on the network to identify your computer. IP addresses are automatically collected by our web server as part of demographic and profile data known as “traffic data” so that data (such as the web pages you request) can be sent to you. We will not use your IP address to attempt to identify your personal information.
Referrers. A Referrer is the information passed along by a web browser that references the Web URL you linked from, and is automatically collected by our web server as “traffic data”. We reserve the right to use this information to identify broad demographic trends that may be used to provide information tailored to your interests. You will not be personally identified from this information.
System Information. System information that we collect as part of “traffic data” includes time, the type of web browser being used, the operating system/platform, and CPU speed. This information is sent automatically by your web browser when you are connected to a website. We reserve the right to use this information for purposes of identifying broad demographic trends and may be used to provide information appropriate for your computer system. You will not be personally identified from this information.
Sharing of Information. We feel strongly that your personal data should only be seen by you, unless you choose to share it with others. We will never sell, rent, license or exchange personally identifiable data with a third party without your permission, except as otherwise provided. No personally identifiable data or information will be shared with advertisers or partners without your permission. Some of your information may be shared on an aggregate basis only, as part of a larger set of statistics (for example, statistics that indicate the percentage of our members that are female), but that information will not be sufficient to permit the recipient to identify you. Except as otherwise provided, we will only disclose personally identifiable data without your permission in the following limited circumstances: (i) if we are required to do so by law, or (ii) if we have the good faith belief that such action is necessary to conform to applicable laws or comply with legal process served on us, or to protect and defend this site’s rights or property or the rights or property of an account holder of this site. We may disclose Personally Identifiable Information about you to our affiliates. For the purpose of this Privacy Policy, “Affiliates” means any person or entity which directly or indirectly controls, is controlled by or is under common control with us, whether by ownership or otherwise. Any information relating to you that we provide to our Affiliates will be treated by those Affiliates in accordance with this Privacy Policy. We may provide to third parties information about you that does not allow you to be identified or contacted, including where such information is combined with similar information of other users of our Website. For instance, we may provide information to third parties regarding the number of unique users who visit our Website, the demographic breakdown of the registered users of our Website, or the activities that visitors to our Website engage in while on our Website. The third parties to which we may provide this information may include potential or actual advertisers, providers of advertising services (including website tracking services), commercial partners, sponsors, licensees, researchers and other similar parties. We may employ independent contractors, vendors and suppliers (collectively, “Outside Contractors”) to provide specific services and products related to our Website and online products, such as hosting and maintaining our message boards or chat rooms and developing applications for our Website and e-mail services or processing payments and making deliveries. These Outside Contractors may sometimes have limited access to information collected on our Website, including your Personally Identifiable Information, in the course of providing products or services to us. Access to your Personally Identifiable Information by these Outside Contractors is limited to the information reasonably necessary in order for the Outside Contractors to perform their limited function for us. We also require that these Outside Contractors (i) protect the privacy of your Personally Identifiable Information in a manner consistent with this Privacy Policy, and (ii) not use or disclose your Personally Identifiable Information for any purpose other than providing us with the products or services for which we contracted.
Other Websites, Links, And Advertisers. This Website contains links to other websites. We reserve this right to have advertisers or other third parties on this Website who may also have links on this Website and may link to this Website. The privacy practices of advertisers or websites linked to this Website are not covered by this privacy statement, and we are not responsible for the privacy practices or the content of such websites. Additionally, if you make a purchase from a store or merchant listed on or linked to this Website, any information that you give, such as your credit card number and contact information, is provided to those merchants. These merchants have separate privacy and data collection practices, and we have no responsibility or liability for these independent policies. You should be careful to review any privacy policies posted on any of these sites before signing up with and using them.
Security. Information collected by this Website is stored in secure operating environments that are not available to the public. Our employees are required by us to maintain and uphold your privacy and security and are aware of our privacy and security policies. Unfortunately, no data transmission over the Internet can be guaranteed 100% secure. As a result, while we strive to protect your personal information, WE CANNOT ENSURE OR WARRANT THE SECURITY OF ANY INFORMATION YOU TRANSMIT TO US, AND YOU DO SO AT YOUR OWN RISK.
No Liability for Acts of Third Parties. Although we will use reasonable efforts to safeguard the confidentiality of your personally identifiable information (including credit card information), transmissions made by means of the Internet cannot be made absolutely secure. We will have no liability for disclosure of information due to errors in transmission or unauthorized acts of third parties. In addition, we will release specific information about you to comply with any valid legal process such as a search warrant, subpoena, statute or court order. We will also release specific information in special cases, such as if there is an attempted breach of security or a physical threat to you or others.
Please note that if you give out personal identification information online, that information can be collected and used by third parties. Although we strive to protect our users’ privacy, we cannot guarantee the security of information you post in these forums. You disclose such information at your own risk.
Transfer of Your Information. As we continue to develop our activities, we might acquire or buy other entities or assets. In such transactions, customer information generally is one of the transferred assets. Also, in the event that all or substantially all of our entity or assets are acquired, both personally identifiable and non-personally identifiable user and customer information will be one of the transferred assets.
Minors. This Website is directed toward and designed for use by persons aged 18 or the age of majority in the jurisdiction in which you reside. We will not approve applications of, or establish or maintain accounts or memberships for, any child that we know to be under the age of 18. We do not solicit or knowingly collect Personally Identifiable Information from children under the age of 18. If we nevertheless discover that we have received Personally Identifiable Information from an individual who indicates that he or she is, or that we otherwise have reason to believe is, under the age of 18, we will delete such information from our systems. Additionally, a child’s parent or legal guardian may request that the child’s information be corrected or deleted from our files by contacting our Privacy Coordinator at the address set out below.
Contact Us/Review Your Information/Opt-Out. If you have submitted personally identifiable information through this Website, or if someone else has submitted your personally identifiable information, and you would like to review, request changes or have that information deleted from our databases, please contact us via e-mail at the address indicated below. We will then use reasonable efforts to change or remove your personally identifiable information from our files, unless we are entitled or required to retain it pursuant to other agreements or by law. You may also contact us through the above method to request or review the personally identifiable information that we have collected about you. We will use reasonable efforts to supply you with this information and correct any factual inaccuracies in this information. Our contact information is as follows: operations@prefcapitalsecurities.com