As I'm looking at this approach chart, I see that the glideslope intercept altitude is at 1400 feet MSL. However, for the localizer approach, I believe we stay at 1400 feet MSL until RIZER, which we can then descend to our MDA. Is that correct?
Coram is not the FAF for a non precision approach. The FAF for localizer only is Rizer. You must protect 1400 till Rizer then you may descend to the applicable MDA.
For localizer only, the step down is from 2000 to 1400‘ to the final approach fix. The lightning bolt could be indicating that the glideslope for the precision approach is intercepted at 1400, but that’s not quite clear. At the final approach fix, start your timer so you know when you hit the missed approach. So for me, I would descend from 2000 ar Coram to 1400‘ and maintain until the final approach fix, then start the timer, and start the descent to the MDA which is 520 feet.