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Fidelity is pleased to announce that we are able to provide eligible customers* (see *Eligibility below) with the possibility of participating in the following public offering: Name of Issuer | Warner Music Group Corp. | Industry | Consumer Goods | Security type | Class A Common Stock | Expected size of offering | 70,000,000 Shares | Expected price range | $23 to $26 | Offering type | Initial Public Offering | Distribution by | Selling Shareholder(s) | Expected pricing date | 06/02/2020 After the close | Indication of Interest Period | 05/26/20 to 06/02/20 by (4:00 PM ET) |
This information is intended to be educational and is not tailored to the investment needs of any specific investor. It is unlawful for any person to purchase the offered securities from an underwriter or broker-dealer participating in this offering if such person has sold short the same security during the five business days prior to the pricing of this offering unless an exemption exists. To access and download the preliminary prospectus with respect to the offering, please visit https://scs.fidelity.com/customeronly/ipoprosp.shtml. There are risks associated with investing in a public offering, and as such, they may not be appropriate for every investor. As with all of your investments through Fidelity, you must make your own determination of whether an investment in this offering is consistent with your investment objectives and risk tolerance. Fidelity is not recommending or endorsing this offering by making available to its customers the opportunity to participate. Entering or confirming your indication of interest does not guarantee you an allocation of shares in the offering. Fidelity may not receive enough shares to meet the customer demand on the offering, which means not all Fidelity customers attempting to participate will receive an allocation, particularly when demand for shares is significant. *Eligibility: Eligibility for participation in traditional IPOs led by Kohlberg Kravis Roberts & Co. (KKR) is reserved for brokerage customers with a minimum of $100,000 in certain assets at Fidelity. Other providers of traditional IPOs, and other equity public offerings made through Fidelity may be reserved for brokerage customers with a minimum of $100,000 or $500,000 in certain assets at Fidelity. Auction OpenIPOs and Secondary offerings made available through Fidelity are reserved for brokerage customers with a minimum of $100,000 in certain assets held at Fidelity. Members of Premium Services or customers who have placed 36 or more stock, fixed income, or option trades in a rolling 12-month period are eligible for either traditional or auction based offerings. The $500,000 or $100,000 requirement and 36 trade thresholds will be determined weekly by aggregating all assets and trades in retail accounts which list the same name and Social Security number and are maintained by Fidelity Service Company, Inc. or Fidelity Brokerage Services LLC (excluding assets or trades maintained on behalf of any divisions of Fidelity Investments Institutional Services Company, such as 401(k) or 403(b) plan assets). Other assets may be included in the calculation at our discretion. In addition, an account in which an indication of interest is entered must have at least $2,000 in cash or fully paid securities. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to notice of its acceptance given after the effective date. Please check the electronic device you have registered with Fidelity Alerts or prompt #2 of (800) 544-5631 for updates on the offering. Fidelity Brokerage Services LLC Member NYSE SIPC.
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