Common use of Issue Specific Summary Clause in Contracts

Issue Specific Summary. An offer of the ETP Securities that is not within an exemption from the requirement to publish a prospectus under the United Kingdom’s version of Regulation (EU) No 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC, which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, during the relevant period may be made in the United Kingdom. The reasons for the offer and use of proceeds are profit making and/or hedging.

Issue Specific Summary. An offer of the ETP Securities that is not within an exemption from the requirement to publish a prospectus under the United Kingdom’s version of Regulation (EU) No 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC, which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, during the relevant period may be made in the United Kingdom. The reasons for the offer and use of proceeds are profit making and/or hedging.