Allocation of Callable Securities Your account may contain “callable” securities, which allow the issuer to repurchase or redeem the securities by a specified date. In the event of a partial redemption or call of securities by the issuer, PNC Capital Markets LLC will allocate among its customers, the securities being selected as called, on a fair and impartial basis through a randomized lottery system. If your account contains callable securities subject to a partial redemption or call, the probability of your securities being selected as called is proportional to the holdings of all customers of such securities held in bulk by PNC Capital Markets LLC. Notwithstanding the foregoing statements, PNC Capital Markets LLC will further ensure equitable allocation of the callable securities by excluding itself as well as its interested persons from the lottery system when the redemption is made on terms that are favorable to PNC Capital Markets LLC; and including itself as well as its interested persons in the lottery system when the redemption is made on terms that are unfavorable to PNC Capital Markets LLC.
Arunee Monica Cutno
Director
Arunee Monica Cutno is a Director with the PNC Capital Markets Charter School Group in Raleigh, NC.
Monica joined PNC Capital Markets in July 2022 and focuses on long-term facilities financing for charter schools in the Southeast. Prior to PNC, she worked with the Truist Securities charter school group. She is the co-founder and former board chair of a K-8 STEAM charter school in NC and led it through a successful bond financing.
Monica received her B.S. in Chemical Engineering and Chemistry from North Carolina State University and an MBA from The University of Chicago Booth School of Business.
She serves as vice chair of the NC Association for Public Charter Schools, chair emeritus of Envision Science Academy, and board member of Junior Achievement of Eastern NC. Monica is also a member of Women in Public Finance.