The PrmanObjectStatements is assigned to a specific location or group of locations and translates into prman as setting the state for an AttributeBegin/AttributeEnd block. This node allows you to do things like assign a subdivision approximation to objects to render smooth surfaces, apply a displacement bound for rendering displacements, and changing visibility flags and memberships.

In RenderMan, there are different ways to choose how your object and its instances will render. These are conveniently divided in the node. An explanation is below along with links to the relevant settings.

The Attributes Section allows for variation among instances.

The primAttributes are obeyed for all instances.

The Primvars Section contains a control for rendering points.