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| About Class A Sales Charges |
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The initial sales charge you pay when you buy Class A shares differs depending upon the Fund you choose and the amount you invest, as indicated in the following tables. The sales charge may be reduced or eliminated for larger purchases, as described below. Any applicable sales charge will be deducted directly from your investment. All or a portion of the sales charge may be retained by the Distributor or allocated to your dealer/financial advisor as a concession.
MainStay Equity, Blended, and Asset Allocation Funds (except Equity Index and S&P 500 Index Funds)1
| Purchase Amount |
Sales charges as a percentage of |
Typical dealer concession as a % of offering price |
| Offering Price |
Net Investment |
| Less than $50,000 |
5.50% |
5.82% |
4.75% |
| $50,000 - 99,999 |
4.50% |
4.71% |
4.00% |
| $100,000 - 249,999 |
3.50% |
3.63% |
3.00% |
| $250,000 - 499,999 |
2.50% |
2.56% |
2.00% |
| $500,000 - 999,999 |
2.00% |
2.04% |
1.75% |
| $1,000,000 or more2 |
None |
None |
None |
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MainStay Income Funds3 (except Floating Rate, Indexed Bond, and Short Term Bond Funds)
| Purchase Amount |
Sales charges as a percentage of |
Typical dealer concession as a % of offering price |
| Offering Price |
Net Investment |
| Less than $100,000 |
4.50% |
4.71% |
4.00% |
| $100,000 - 249,999 |
3.50% |
3.63% |
3.00% |
| $250,000 - 499,999 |
2.50% |
2.56% |
2.00% |
| $500,000 - 999,999 |
2.00% |
2.04% |
1.75% |
| $1,000,000 or more2 |
None |
None |
None |
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MainStay Equity Index Fund,4 Indexed Bond Fund, S&P 500 Index Fund, and Short Term Bond Fund
| Purchase Amount |
Sales charges as a percentage of |
Typical dealer concession as a % of offering price |
| Offering Price |
Net Investment |
| Less than $100,000 |
3.00% |
3.09% |
2.75% |
| $100,000 - 249,999 |
2.50% |
2.56% |
2.25% |
| $250,000 - 499,999 |
2.00% |
2.04% |
1.75% |
| $500,000 - 999,999 |
1.50% |
1.52% |
1.25% |
| $1,000,000 or more2 |
None |
None |
None |
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MainStay Floating Rate Fund
| Purchase Amount |
Sales charges as a percentage of |
Typical dealer concession as a % of offering price |
| Offering Price |
Net Investment |
| Less than $100,000 |
3.00% |
3.09% |
2.75% |
| $100,000 - 249,999 |
2.00% |
2.04% |
1.75% |
| $250,000 - 499,999 |
1.50% |
1.52% |
1.25% |
| $500,000 or more2 |
None |
None |
None |
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Reducing the Initial Sales Charge on Class A Shares
You may be eligible to buy Class A shares of the Funds at one of the reduced sales charge rates shown in the tables above under the Funds' "Right of Accumulation" or a "Letter of Intent." Each Fund reserves the right to modify or eliminate these programs at any time.
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Right of Accumulation
A "Right of Accumulation" allows you to reduce the Class A front-end sales charge, as shown in the table above, by combining the amount of your current purchase with the current value of investments made by you, your spouse, and your children under age 21 in Class A, Class B or Class C shares of most MainStay Funds. You may not include investments in the MainStay Cash Reserves Fund or MainStay Money Market Fund, investments in Class I shares, or your interests in any MainStay Fund held through a 401(k) plan or other employee benefit plan.
For example, if you currently own $45,000 worth of Class C shares of a MainStay Fund, your spouse owns $50,000 worth of Class B shares of another MainStay Fund, and you wish to invest $10,000 in the Fund, using your right of accumulation you can invest that $10,000 in Class A shares and pay the reduced sales charge rate of 3.50% normally applicable to a $105,000 investment.
For more information, see "Purchase, Redemption, Exchanges and Repurchase—Reduced Sales Charges" in the Statement of Additional Information.
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Letter of Intent
Where the right of accumulation allows you to use prior investments to reach a reduced sales charge rate, a "Letter of Intent" allows you to qualify for a discount by combining your current purchase amount with purchases you, your spouse, or children under age 21 intend to make in the near future. A Letter of Intent is a written statement to the Distributor of your intention to purchase Class A, Class B, or Class C shares of one or more MainStay Funds (excluding the MainStay Cash Reserves Fund or MainStay Money Market Fund) over a 24-month period. The total amount of your intended purchases will determine the reduced sales charge rate that will apply to Class A shares of the Funds purchased during that period. You can include purchases made up to 90 days before the date of the Letter of Intent. You can also apply the right of accumulation to these purchases.
Your Letter of Intent goal must be at least $100,000. Submitting a Letter of Intent does not obligate you to purchase the specified amount of shares. If you do not meet your intended purchase goal, however, the front-end sales charge that you paid on your purchases will be recalculated to reflect the actual value of shares you purchased. A certain portion of your shares will be held in escrow by the Funds' Transfer Agent for this purpose. For more information, see "Purchase, Redemption, Exchanges and Repurchase—Letter of Intent" in the Fund's Statement of Additional Information.
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Your Responsibility
To receive the reduced sales charge, you must inform the Funds' Distributor of your eligibility and holdings at the time of your purchase, if you are buying shares directly from the Funds. If you are buying shares through a financial intermediary, you must tell your financial advisor of your eligibility for Right of Accumulation or a Letter of Intent at the time of your purchase.
To combine shares of eligible MainStay Funds held in accounts at other intermediaries under your Right of Accumulation or a Letter of Intent, you may be required to provide the Distributor or your financial advisor a copy of each account statement showing your current holdings of each eligible MainStay Fund, including statements for accounts held by you, your spouse, or your minor children, as described above. The Distributor or intermediary through which you are buying shares will combine the value of all your eligible MainStay Fund holdings based on the current offering price per share to determine what Class A sales charge rate you may qualify for on your current purchase. If you do not let the Distributor or your financial advisor know of all of the holdings or planned purchases that make you eligible for a sales charge reduction and provide requested documentation, you may not receive a discount to which you are otherwise entitled. |
For additional questions, please call us at 800-MAINSTAY (624-6782).
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