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24. Are the notes secured, insured, or guaranteed?

No. The notes are debt obligations solely of the Issuer. Specifically, they have:
  • No collateral
  • No third-party guarantee
  • No deposit status or government insurance
  • No backing from Reference Company shares, a reserve, or a hedge
Redemption payout depends entirely on the Issuer’s ability to pay. It is not contingent on what the Issuer or an affiliate recovers from any hedge or sourcing arrangement. How the Issuer manages its own exposure is the Issuer’s risk, not the holder’s payout formula.

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25. What are the main risks?

Key risks include:
  • Loss of some or all of your investment
  • Issuer credit risk
  • Changes in the Reference Company’s value
  • Limited public information about the Reference Company
  • Limited liquidity on Spot markets, and a Spot price that may differ from the note’s eventual payout
  • No qualifying liquidity event for up to 10 years
  • Forfeiture if you miss the claim window or become a Prohibited Person
  • Transfer restrictions and the Issuer’s administrative powers over the token contract
  • Regulatory changes
Review the full Offering Documents and Risk Factors before trading.

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26. How are the notes taxed?

It depends on where you live, and no tax authority has ruled on instruments like this. Talk to your own tax adviser before subscribing.

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27. Where can I find the full terms?

The Offering Documents contain the definitive legal and economic terms: the Token Terms, the Subscription Agreement, and the Token Terms Acceptance and Redemption Claim Certification, along with the Risk Factors. Each Ondo Private Markets Note is issued under its own Offering Documents, Token Terms, and Risk Factors, which govern if anything on this page differs from them.