Common use of Index calculation Clause in Contracts

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:   Rt  d  IDXt  IDXT 1  1  L   R  1  IRT 1  FST  IG  360   T 1   Leverage component Financing component where: T IDXt = = current Index Calculation Day Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes the current Index Calculation Day T L = Leverage (Factor): 5 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price falls below the most recent Valuation Price of the Current Reference Instrument by more than 17% (Barrier), an "Intraday Index Adjustment" takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.83. The financing component remains unchanged. No addi- tional interest or costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined below). In doing so, the Index Calculation Agent will endeavour – as far as possible – to calculate the leverage component as if no Extraordinary Adjust- ment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion the relevant Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Reference Exchange. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument traded on the Reference Exchange. Adjustments of this nature may relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation of a different Reference Ex- change and a different Reference Instrument Price. The list of Extraordinary Adjustment Events cited in section B) is not exhaustive. The deciding factor is whether the Reference Exchange considers it necessary to adjust the contract size, the Reference Instrument or the designation of the relevant exchange for the determination of the price of the reference item of the Reference Instrument. In cases of doubt about the application of the adjust- ment rules,the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Exchange shall apply in addition to the provisions set out above.

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:   Rt  d  IDXt  IDXT 1  1  L   R  1  IRT 1  FST  IG  360   T 1   Leverage component Financing component where: T IDXt = = current Index Calculation Day Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes the current Index Calculation Day T L = Leverage (Factor): 5 -5 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price falls below exceeds the most recent re- cent Valuation Price of the Current Reference Instrument by more than 17% (Barrier), an "Intraday In- traday Index Adjustment" takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 1.17 d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.831.17. The financing component remains unchanged. No addi- tional interest or costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined below). In doing so, the Index Calculation Agent will endeavour – as far as possible – to calculate the leverage component as if no Extraordinary Adjust- ment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion the relevant Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Reference Exchange. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument traded on the Reference Exchange. Adjustments of this nature may relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation of a different Reference Ex- change and a different Reference Instrument Price. The list of Extraordinary Adjustment Events cited in section B) is not exhaustive. The deciding factor is whether the Reference Exchange considers it necessary to adjust the contract size, the Reference Instrument or the designation of the relevant exchange for the determination of the price of the reference item of the Reference Instrument. In cases of doubt about the application of the adjust- ment rules,the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Exchange shall apply in addition to the provisions set out above.

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:     Rt  + divf × div  d  IDXt  IDXT 1  1   IDX t = IDX T −1 × 1 + L   ×  R  1  IRT 1  −1 + [(1 − L)× IRT −1 + L × FST  IG  360   − IG]×    T 1   Leverage −1   leverage component Financing financing component where: T IDXt = = current Index Calculation Day Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes pre- cedes the current Index Calculation Day T L = Leverage (Factor): 5 -7 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 divf = Dividend Tax Factor div = Dividend on Index Calculation Day T. If the individual Dividend Method is used this amount is 0, except on the Ex-Dividend Date. IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price falls below (plus any Dividend mul- tiplied by the Dividend Tax Factor: Rs + divf × div ) exceeds the most recent Valuation Price of the Current Reference Instrument by more than 1712% (Barrier), an "Intraday Index Adjustment" takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 1.12 – divf x div d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.831.12. In addition, the net dividend is deducted (in the case of the individual Dividend Method, on- ly if Index Calculation Day T is an Ex-Dividend Date). The Dividend and Dividend Tax Factor are no longer taken into account for the purposes of the index calculation in accordance with section C) 1) on the new, simulated Index Calculation Day. The financing component remains unchanged. No addi- tional interest or additional costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined belowbe- low). In doing so, the The Index Calculation Agent will endeavour – as far as to the extent possible – endeavor to calculate the leverage component as if no Extraordinary Adjust- ment Adjustment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion the relevant Valuation Price of for the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Derivatives Exchange for futures and options linked to the Reference ExchangeInstrument traded there. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this such adjustment necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument futures and options traded on the Reference Derivatives Exchange. Adjustments of this nature Such adjustments may in particular relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation stipulation of a different Reference Ex- change and a different Exchange, Derivatives Exchange or Reference Instrument Price. The list of Extraordinary Adjustment Events cited listed in section B) is not exhaustive. The deciding factor is whether the Reference Derivatives Exchange considers it necessary to adjust deems an adjustments of the contract size, the Reference Instrument an underlying or the designation involvement of the relevant exchange for the determination of Reference Exchange determining the price of the reference item of Reference Instrument to be necessary. If neither futures nor options linked to the Reference InstrumentInstrument are traded on the Deriva- tives Exchange, the adjustment shall be made in a manner in which the Derivatives Exchange would do so if corresponding futures or options were traded there. In cases of doubt about the application of the adjust- ment rules,modification rules of the Derivatives Exchange, the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Derivatives Exchange shall apply in addition to the provisions set out above. If the Reference Instrument (Index) is cancelled or replaced by a different index concept, or if the li- cense agreement between the Reference Exchange and the Index Calculation Agent cannot be re- newed, the Index Calculation Agent determines – where appropriate by applying an adjusted Refer- ence Instrument Price for the Reference Instrument at time t (Rt) – whether and which different in- dex concept will be used in the future as a basis for calculating the Factor Index. If the Reference Instrument is no longer calculated and determined and/or published by the Refer- ence Exchange but by another person, company or institution that the Index Calculation Agent in its reasonable discretion considers to be suitable ("Substitute Reference Exchange"), then the Factor Index shall be calculated where applicable on the basis of the Reference Instrument calculated and published by the Substitute Reference Exchange. All references to the Reference Exchange contained in this index description shall be deemed to refer analogously to the Substitute Reference Exchange. If in the reasonable discretion of the Index Calculation Agent it is not possible, for whatever reason, to stipulate a different relevant index concept, the leverage component shall remain unchanged and the index level shall be determined solely on the basis of the remaining components of the index formula.

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:     Rt  + divf × div  d  IDXt  IDXT 1  1   IDX t = IDX T −1 × 1 + L   ×  R  1  IRT 1  −1 + [(1 − L)× IRT −1 + L × FST  IG  360   − IG]×    T 1   Leverage −1   leverage component Financing financing component where: T IDXt = = current Index Calculation Day Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes pre- cedes the current Index Calculation Day T L = Leverage (Factor): 5 -5 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 divf = Dividend Tax Factor div = Dividend on Index Calculation Day T. If the individual Dividend Method is used this amount is 0, except on the Ex-Dividend Date. IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price falls below (plus any Dividend mul- tiplied by the Dividend Tax Factor: Rs + divf × div ) exceeds the most recent Valuation Price of the Current Reference Instrument by more than 17% (Barrier), an "Intraday Index Adjustment" takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 1,17 – divf x div d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.831,17. In addition, the net dividend is deducted (in the case of the individual Dividend Method, on- ly if Index Calculation Day T is an Ex-Dividend Date). The Dividend and Dividend Tax Factor are no longer taken into account for the purposes of the index calculation in accordance with section C) 1) on the new, simulated Index Calculation Day. The financing component remains unchanged. No addi- tional interest or additional costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined belowbe- low). In doing so, the The Index Calculation Agent will endeavour – as far as to the extent possible – endeavor to calculate the leverage component as if no Extraordinary Adjust- ment Adjustment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion the relevant Valuation Price of for the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Derivatives Exchange for futures and options linked to the Reference ExchangeInstrument traded there. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this such adjustment necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument futures and options traded on the Reference Derivatives Exchange. Adjustments of this nature Such adjustments may in particular relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation stipulation of a different Reference Ex- change and a different Exchange, Derivatives Exchange or Reference Instrument Price. The list of Extraordinary Adjustment Events cited listed in section B) is not exhaustive. The deciding factor is whether the Reference Derivatives Exchange considers it necessary to adjust deems an adjustments of the contract size, the Reference Instrument an underlying or the designation involvement of the relevant exchange for the determination of Reference Exchange determining the price of the reference item of Reference Instrument to be necessary. If neither futures nor options linked to the Reference InstrumentInstrument are traded on the Deriva- tives Exchange, the adjustment shall be made in a manner in which the Derivatives Exchange would do so if corresponding futures or options were traded there. In cases of doubt about the application of the adjust- ment rules,modification rules of the Derivatives Exchange, the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Derivatives Exchange shall apply in addition to the provisions set out above. If the Reference Instrument (Index) is cancelled or replaced by a different index concept, or if the li- cense agreement between the Reference Exchange and the Index Calculation Agent cannot be re- newed, the Index Calculation Agent determines – where appropriate by applying an adjusted Refer- ence Instrument Price for the Reference Instrument at time t (Rt) – whether and which different in- dex concept will be used in the future as a basis for calculating the Factor Index. If the Reference Instrument is no longer calculated and determined and/or published by the Refer- ence Exchange but by another person, company or institution that the Index Calculation Agent in its reasonable discretion considers to be suitable ("Substitute Reference Exchange"), then the Factor Index shall be calculated where applicable on the basis of the Reference Instrument calculated and published by the Substitute Reference Exchange. All references to the Reference Exchange contained in this index description shall be deemed to refer analogously to the Substitute Reference Exchange. If in the reasonable discretion of the Index Calculation Agent it is not possible, for whatever reason, to stipulate a different relevant index concept, the leverage component shall remain unchanged and the index level shall be determined solely on the basis of the remaining components of the index formula.

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:   ⎧ ⎛ Rt  + divf × div ⎞ d  IDXt  IDXT 1  1  ⎫ = IDX T −1 × ⎨1 + L   × ⎜ R  1  IRT 1  − 1⎟ − [(L − 1)× (IRT −1 + FST  IG  360   ) + IG]× ⎬ ⎩ ⎝ T 1   Leverage −1 ⎠ ⎭ leverage component Financing financing component where: T IDXt = = current Index Calculation Day Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes pre- cedes the current Index Calculation Day T L = Leverage (Factor): 5 7 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 divf = Dividend Tax Factor div = Dividend on Index Calculation Day T. If the individual Dividend Method is used this amount is 0, except on the Ex-Dividend Date. IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price (plus any Dividend multiplied by the Dividend Tax Factor: Rs + divf × div ) falls below the most recent Valuation Price of the Current Reference Instrument by more than 1712% (Barrier), an "Intraday Index AdjustmentAdjust- ment" takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 0.88 – divf x div d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.830.88. In addition, the net dividend shall be deducted (in case of the individual Dividend Method only if the Index Calculation Day T is an Ex-Dividend Date). Dividend and Dividend Tax Factor shall not be considered in the index calculation in section C) 1) on such simulated Index Calculation Day. The financing component remains unchanged. No addi- tional additional interest or costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined belowbe- low). In doing so, the The Index Calculation Agent will endeavour – as far as to the extent possible – endeavor to calculate the leverage component as if no Extraordinary Adjust- ment Adjustment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion the relevant Valuation Price of for the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Derivatives Exchange for futures and options linked to the Reference ExchangeInstrument traded there. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this such adjustment necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument futures and options traded on the Reference Derivatives Exchange. Adjustments of this nature Such adjustments may in particular relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation stipulation of a different Reference Ex- change and a different Exchange, Derivatives Exchange or Reference Instrument Price. The list of Extraordinary Adjustment Events cited listed in section B) is not exhaustive. The deciding factor is whether the Reference Derivatives Exchange considers it necessary to adjust deems an adjustments of the contract size, the Reference Instrument an underlying or the designation involvement of the relevant exchange for the determination of Reference Exchange determining the price of the reference item of Reference Instrument to be necessary. If neither futures nor options linked to the Reference InstrumentInstrument are traded on the Deriva- tives Exchange, the adjustment shall be made in a manner in which the Derivatives Exchange would do so if corresponding futures or options were traded there. In cases of doubt about the application of the adjust- ment rules,modification rules of the Derivatives Exchange, the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Derivatives Exchange shall apply in addition to the provisions set out above. If the Reference Instrument (Index) is cancelled or replaced by a different index concept, or if the li- cense agreement between the Reference Exchange and the Index Calculation Agent cannot be re- newed, the Index Calculation Agent determines – where appropriate by applying an adjusted Refer- ence Instrument Price for the Reference Instrument at time t (Rt) – whether and which different in- dex concept will be used in the future as a basis for calculating the Factor Index. If the Reference Instrument is no longer calculated and determined and/or published by the Refer- ence Exchange but by another person, company or institution that the Index Calculation Agent in its reasonable discretion considers to be suitable ("Substitute Reference Exchange"), then the Factor Index shall be calculated where applicable on the basis of the Reference Instrument calculated and published by the Substitute Reference Exchange. All references to the Reference Exchange contained in this index description shall be deemed to refer analogously to the Substitute Reference Exchange. If in the reasonable discretion of the Index Calculation Agent it is not possible, for whatever reason, to stipulate a different relevant index concept, the leverage component shall remain unchanged and the index level shall be determined solely on the basis of the remaining components of the index formula.

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:     Rt   d  IDXt  IDXT 1  1   IDX t = IDX T −1 × 1 + L   ×  R  1  IRT 1  −1 − [(L −1)× (IRT −1 + FST  IG  360   )+ IG]×    T 1   Leverage −1   leverage component Financing financing component where: T IDXt = = current Index Calculation Day Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes pre- cedes the current Index Calculation Day T L = Leverage (Factor): 5 3 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price falls below the most recent Valuation Price of the Current Reference Instrument by more than 1728% (Barrier), an "Intraday Index Adjustment" takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 0,72 d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.830,72. The financing component remains unchanged. No addi- tional interest or costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined belowbe- low). In doing so, the The Index Calculation Agent will endeavour – as far as to the extent possible – endeavor to calculate the leverage component as if no Extraordinary Adjust- ment Adjustment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion the relevant Valuation Price of for the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Derivatives Exchange for futures and options linked to the Reference ExchangeInstrument traded there. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this such adjustment necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument futures and options traded on the Reference Derivatives Exchange. Adjustments of this nature Such adjustments may in particular relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation stipulation of a different Reference Ex- change and a different Exchange, Derivatives Exchange or Reference Instrument Price. The list of Extraordinary Adjustment Events cited listed in section B) is not exhaustive. The deciding factor is whether the Reference Derivatives Exchange considers it necessary to adjust deems an adjustments of the contract size, the Reference Instrument an underlying or the designation involvement of the relevant exchange for the determination of Reference Exchange determining the price of the reference item of Reference Instrument to be necessary. If neither futures nor options linked to the Reference InstrumentInstrument are traded on the Deriva- tives Exchange, the adjustment shall be made in a manner in which the Derivatives Exchange would do so if corresponding futures or options were traded there. In cases of doubt about the application of the adjust- ment rules,modification rules of the Derivatives Exchange, the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Derivatives Exchange shall apply in addition to the provisions set out above. If the Reference Instrument (Index) is cancelled or replaced by a different index concept, or if the li- cense agreement between the Reference Exchange and the Index Calculation Agent cannot be re- newed, the Index Calculation Agent determines – where appropriate by applying an adjusted Refer- ence Instrument Price for the Reference Instrument at time t (Rt) – whether and which different in- dex concept will be used in the future as a basis for calculating the Factor Index. If the Reference Instrument is no longer calculated and determined and/or published by the Refer- ence Exchange but by another person, company or institution that the Index Calculation Agent in its reasonable discretion considers to be suitable ("Substitute Reference Exchange"), then the Factor Index shall be calculated where applicable on the basis of the Reference Instrument calculated and published by the Substitute Reference Exchange. All references to the Reference Exchange contained in this index description shall be deemed to refer analogously to the Substitute Reference Exchange. If in the reasonable discretion of the Index Calculation Agent it is not possible, for whatever reason, to stipulate a different relevant index concept, the leverage component shall remain unchanged and the index level shall be determined solely on the basis of the remaining components of the index formula.

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:   ⎧ ⎛ Rt  + divf × div ⎞ d  IDXt  IDXT 1  1  ⎫ IDX t = IDX T −1 × ⎨1 + L   × ⎜ R  1  IRT 1  −1⎟ + [(1 − L)× IRT −1 + L × FST  IG  360   − IG]× ⎬ ⎩ ⎝ T 1   Leverage −1 ⎠ ⎭ leverage component Financing financing component where: T IDXt = = current Index Calculation Day Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes pre- cedes the current Index Calculation Day T L = Leverage (Factor): 5 -7 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 divf = Dividend Tax Factor div = Dividend on Index Calculation Day T. If the individual Dividend Method is used this amount is 0, except on the Ex-Dividend Date. IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price falls below (plus any Dividend mul- tiplied by the Dividend Tax Factor: Rs + divf × div ) exceeds the most recent Valuation Price of the Current Reference Instrument by more than 1712% (Barrier), an "Intraday Index Adjustment" takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 1.12 – divf x div d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.831.12. In addition, the net dividend is deducted (in the case of the individual Dividend Method, on- ly if Index Calculation Day T is an Ex-Dividend Date). The Dividend and Dividend Tax Factor are no longer taken into account for the purposes of the index calculation in accordance with section C) 1) on the new, simulated Index Calculation Day. The financing component remains unchanged. No addi- tional interest or additional costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined belowbe- low). In doing so, the The Index Calculation Agent will endeavour – as far as to the extent possible – endeavor to calculate the leverage component as if no Extraordinary Adjust- ment Adjustment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion the relevant Valuation Price of for the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Derivatives Exchange for futures and options linked to the Reference ExchangeInstrument traded there. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this such adjustment necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument futures and options traded on the Reference Derivatives Exchange. Adjustments of this nature Such adjustments may in particular relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation stipulation of a different Reference Ex- change and a different Exchange, Derivatives Exchange or Reference Instrument Price. The list of Extraordinary Adjustment Events cited listed in section B) is not exhaustive. The deciding factor is whether the Reference Derivatives Exchange considers it necessary to adjust deems an adjustments of the contract size, the Reference Instrument an underlying or the designation involvement of the relevant exchange for the determination of Reference Exchange determining the price of the reference item of Reference Instrument to be necessary. If neither futures nor options linked to the Reference InstrumentInstrument are traded on the Deriva- tives Exchange, the adjustment shall be made in a manner in which the Derivatives Exchange would do so if corresponding futures or options were traded there. In cases of doubt about the application of the adjust- ment rules,modification rules of the Derivatives Exchange, the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Derivatives Exchange shall apply in addition to the provisions set out above. If the Reference Instrument (Index) is cancelled or replaced by a different index concept, or if the li- cense agreement between the Reference Exchange and the Index Calculation Agent cannot be re- newed, the Index Calculation Agent determines – where appropriate by applying an adjusted Refer- ence Instrument Price for the Reference Instrument at time t (Rt) – whether and which different in- dex concept will be used in the future as a basis for calculating the Factor Index. If the Reference Instrument is no longer calculated and determined and/or published by the Refer- ence Exchange but by another person, company or institution that the Index Calculation Agent in its reasonable discretion considers to be suitable ("Substitute Reference Exchange"), then the Factor Index shall be calculated where applicable on the basis of the Reference Instrument calculated and published by the Substitute Reference Exchange. All references to the Reference Exchange contained in this index description shall be deemed to refer analogously to the Substitute Reference Exchange. If in the reasonable discretion of the Index Calculation Agent it is not possible, for whatever reason, to stipulate a different relevant index concept, the leverage component shall remain unchanged and the index level shall be determined solely on the basis of the remaining components of the index formula.

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:     Rt  + divf × div  d  IDXt  IDXT 1  1   = IDX T −1 × 1 + L   ×  R  1  IRT 1  − 1 − [(L − 1)× (IRT −1 + FST  IG  360   ) + IG]×    T 1   Leverage −1   leverage component Financing financing component where: :T IDXt = = current Index Calculation Day IDXt = Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes pre- cedes the current Index Calculation Day T L = Leverage (Factor): 5 7 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 divf = Dividend Tax Factor div = Dividend on Index Calculation Day T. If the individual Dividend Method is used this amount is 0, except on the Ex-Dividend Date. IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price (plus any Dividend multiplied by the Dividend Tax Factor: Rs + divf × div ) falls below the most recent Valuation Price of the Current Reference Instrument by more than 1712% (Barrier), an "Intraday Index AdjustmentAdjust- ment" takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 0,88 – divf x div d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.830,88. In addition, the net dividend shall be deducted (in case of the individual Dividend Method only if the Index Calculation Day T is an Ex-Dividend Date). Dividend and Dividend Tax Factor shall not be considered in the index calculation in section C) 1) on such simulated Index Calculation Day. The financing component remains unchanged. No addi- tional additional interest or costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined belowbe- low). In doing so, the The Index Calculation Agent will endeavour – as far as to the extent possible – endeavor to calculate the leverage component as if no Extraordinary Adjust- ment Adjustment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion the relevant Valuation Price of for the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Derivatives Exchange for futures and options linked to the Reference ExchangeInstrument traded there. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this such adjustment necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument futures and options traded on the Reference Derivatives Exchange. Adjustments of this nature Such adjustments may in particular relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation stipulation of a different Reference Ex- change and a different Exchange, Derivatives Exchange or Reference Instrument Price. The list of Extraordinary Adjustment Events cited listed in section B) is not exhaustive. The deciding factor is whether the Reference Derivatives Exchange considers it necessary to adjust deems an adjustments of the contract size, the Reference Instrument an underlying or the designation involvement of the relevant exchange for the determination of Reference Exchange determining the price of the reference item of Reference Instrument to be necessary. If neither futures nor options linked to the Reference InstrumentInstrument are traded on the Deriva- tives Exchange, the adjustment shall be made in a manner in which the Derivatives Exchange would do so if corresponding futures or options were traded there. In cases of doubt about the application of the adjust- ment rules,modification rules of the Derivatives Exchange, the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Derivatives Exchange shall apply in addition to the provisions set out above. If the Reference Instrument (Index) is cancelled or replaced by a different index concept, or if the li- cense agreement between the Reference Exchange and the Index Calculation Agent cannot be re- newed, the Index Calculation Agent determines – where appropriate by applying an adjusted Refer- ence Instrument Price for the Reference Instrument at time t (Rt) – whether and which different in- dex concept will be used in the future as a basis for calculating the Factor Index. If the Reference Instrument is no longer calculated and determined and/or published by the Refer- ence Exchange but by another person, company or institution that the Index Calculation Agent in its reasonable discretion considers to be suitable ("Substitute Reference Exchange"), then the Factor Index shall be calculated where applicable on the basis of the Reference Instrument calculated and published by the Substitute Reference Exchange. All references to the Reference Exchange contained in this index description shall be deemed to refer analogously to the Substitute Reference Exchange. If in the reasonable discretion of the Index Calculation Agent it is not possible, for whatever reason, to stipulate a different relevant index concept, the leverage component shall remain unchanged and the index level shall be determined solely on the basis of the remaining components of the index formula.

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:     Rt   d  IDXt  IDXT 1  1   IDX t = IDX T −1 × 1+ L   × R  1  IRT 1  −1 + [(1− L)× IRT −1 + L × FST  IG  360   − IG]×    T 1   Leverage −1   leverage component Financing financing component where: T IDXt = = current Index Calculation Day Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes pre- cedes the current Index Calculation Day T L = Leverage (Factor): 5 -3 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price falls below exceeds the most recent re- cent Valuation Price of the Current Reference Instrument by more than 1728% (Barrier), an "Intraday Index Adjustment" takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 1,28 d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.831,28. The financing component remains unchanged. No addi- tional interest or costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined belowbe- low). In doing so, the The Index Calculation Agent will endeavour – as far as to the extent possible – endeavor to calculate the leverage component as if no Extraordinary Adjust- ment Adjustment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion the relevant Valuation Price of for the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Derivatives Exchange for futures and options linked to the Reference ExchangeInstrument traded there. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this such adjustment necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument futures and options traded on the Reference Derivatives Exchange. Adjustments of this nature Such adjustments may in particular relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation stipulation of a different Reference Ex- change and a different Exchange, Derivatives Exchange or Reference Instrument Price. The list of Extraordinary Adjustment Events cited listed in section B) is not exhaustive. The deciding factor is whether the Reference Derivatives Exchange considers it necessary to adjust deems an adjustments of the contract size, the Reference Instrument an underlying or the designation involvement of the relevant exchange for the determination of Reference Exchange determining the price of the reference item of Reference Instrument to be necessary. If neither futures nor options linked to the Reference InstrumentInstrument are traded on the Deriva- tives Exchange, the adjustment shall be made in a manner in which the Derivatives Exchange would do so if corresponding futures or options were traded there. In cases of doubt about the application of the adjust- ment rules,modification rules of the Derivatives Exchange, the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Derivatives Exchange shall apply in addition to the provisions set out above. If the Reference Instrument (Index) is cancelled or replaced by a different index concept, or if the li- cense agreement between the Reference Exchange and the Index Calculation Agent cannot be re- newed, the Index Calculation Agent determines – where appropriate by applying an adjusted Refer- ence Instrument Price for the Reference Instrument at time t (Rt) – whether and which different in- dex concept will be used in the future as a basis for calculating the Factor Index. If the Reference Instrument is no longer calculated and determined and/or published by the Refer- ence Exchange but by another person, company or institution that the Index Calculation Agent in its reasonable discretion considers to be suitable ("Substitute Reference Exchange"), then the Factor Index shall be calculated where applicable on the basis of the Reference Instrument calculated and published by the Substitute Reference Exchange. All references to the Reference Exchange contained in this index description shall be deemed to refer analogously to the Substitute Reference Exchange. If in the reasonable discretion of the Index Calculation Agent it is not possible, for whatever reason, to stipulate a different relevant index concept, the leverage component shall remain unchanged and the index level shall be determined solely on the basis of the remaining components of the index formula.

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el level is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal decimal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:    Rt  d   IDXt  IDXT 1  1 1 L  R 1  1 L IRT 1  L   R  1  IRT 1  FST  IG  360  IG    T 1   Leverage  leverage component Financing financing component where: T IDXt = = current Index Calculation Day Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes the current Index Calculation Day T L = Leverage (Factor): 5 -7 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price falls below exceeds the most recent Valuation Price of the Current Reference Instrument by more than 1712% (Barrier), an "Intraday Index Adjustment" takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 1.12 d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.831.12. The financing component remains unchanged. No addi- tional interest or additional costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined below). In doing so, the The Index Calculation Agent will endeavour – as far as to the extent possible – endeavor to calculate the leverage component as if no Extraordinary Adjust- ment Adjustment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion discretion the relevant Valuation Price of for the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Derivatives Exchange for futures and options linked to the Reference ExchangeInstrument traded there. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this such adjustment necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument futures and options traded on the Reference Derivatives Exchange. Adjustments of this nature Such adjustments may in particular relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation stipulation of a different Reference Ex- change and a different Exchange, Derivatives Exchange or Reference Instrument Price. The list of Extraordinary Adjustment Events cited listed in section B) is not exhaustive. The deciding factor is whether the Reference Derivatives Exchange considers it necessary to adjust deems an adjustments of the contract size, the Reference Instrument an underlying or the designation involvement of the relevant exchange for the determination of Reference Exchange determining the price of the reference item of Reference Instrument to be necessary. If neither futures nor options linked to the Reference InstrumentInstrument are traded on the Derivatives Exchange, the adjustment shall be made in a manner in which the Derivatives Exchange would do so if corresponding futures or options were traded there. In cases of doubt about the application of the adjust- ment rules,modification rules of the Derivatives Exchange, the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Derivatives Exchange shall apply in addition to the provisions set out above. If the Reference Instrument (Index) is cancelled or replaced by a different index concept, or if the license agreement between the Reference Exchange and the Index Calculation Agent cannot be renewed, the Index Calculation Agent determines – where appropriate by applying an adjusted Reference Instrument Price for the Reference Instrument at time t (Rt) – whether and which different index concept will be used in the future as a basis for calculating the Factor Index. If the Reference Instrument is no longer calculated and determined and/or published by the Reference Exchange but by another person, company or institution that the Index Calculation Agent in its reasonable discretion considers to be suitable (“Substitute Reference Exchange”), then the Factor Index shall be calculated where applicable on the basis of the Reference Instrument calculated and published by the Substitute Reference Exchange. All references to the Reference Exchange contained in this index description shall be deemed to refer analogously to the Substitute Reference Exchange. If in the reasonable discretion of the Index Calculation Agent it is not possible, for whatever reason, to stipulate a different relevant index concept, the leverage component shall remain unchanged and the index level shall be determined solely on the basis of the remaining components of the index formula.

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:     Rt  + divf × div  d  IDXt  IDXT 1  1   IDX t = IDX T −1 × 1 + L   ×  R  1  IRT 1  −1 + [(1 − L)× IRT −1 + L × FST  IG  360   − IG]×    T 1   Leverage −1   leverage component Financing financing component where: T IDXt = = current Index Calculation Day Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes pre- cedes the current Index Calculation Day T L = Leverage (Factor): 5 -7 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 divf = Dividend Tax Factor div = Dividend on Index Calculation Day T. If the individual Dividend Method is used this amount is 0, except on the Ex-Dividend Date. IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price falls below (plus any Dividend mul- tiplied by the Dividend Tax Factor: Rs + divf × div ) exceeds the most recent Valuation Price of the Current Reference Instrument by more than 1712% (Barrier), an "Intraday Index Adjustment" takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 1,12 – divf x div d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.831,12. In addition, the net dividend is deducted (in the case of the individual Dividend Method, on- ly if Index Calculation Day T is an Ex-Dividend Date). The Dividend and Dividend Tax Factor are no longer taken into account for the purposes of the index calculation in accordance with section C) 1) on the new, simulated Index Calculation Day. The financing component remains unchanged. No addi- tional interest or additional costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined belowbe- low). In doing so, the The Index Calculation Agent will endeavour – as far as to the extent possible – endeavor to calculate the leverage component as if no Extraordinary Adjust- ment Adjustment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion the relevant Valuation Price of for the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Derivatives Exchange for futures and options linked to the Reference ExchangeInstrument traded there. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this such adjustment necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument futures and options traded on the Reference Derivatives Exchange. Adjustments of this nature Such adjustments may in particular relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation stipulation of a different Reference Ex- change and a different Exchange, Derivatives Exchange or Reference Instrument Price. The list of Extraordinary Adjustment Events cited listed in section B) is not exhaustive. The deciding factor is whether the Reference Derivatives Exchange considers it necessary to adjust deems an adjustments of the contract size, the Reference Instrument an underlying or the designation involvement of the relevant exchange for the determination of Reference Exchange determining the price of the reference item of Reference Instrument to be necessary. If neither futures nor options linked to the Reference InstrumentInstrument are traded on the Deriva- tives Exchange, the adjustment shall be made in a manner in which the Derivatives Exchange would do so if corresponding futures or options were traded there. In cases of doubt about the application of the adjust- ment rules,modification rules of the Derivatives Exchange, the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Derivatives Exchange shall apply in addition to the provisions set out above. If the Reference Instrument (Index) is cancelled or replaced by a different index concept, or if the li- cense agreement between the Reference Exchange and the Index Calculation Agent cannot be re- newed, the Index Calculation Agent determines – where appropriate by applying an adjusted Refer- ence Instrument Price for the Reference Instrument at time t (Rt) – whether and which different in- dex concept will be used in the future as a basis for calculating the Factor Index. If the Reference Instrument is no longer calculated and determined and/or published by the Refer- ence Exchange but by another person, company or institution that the Index Calculation Agent in its reasonable discretion considers to be suitable ("Substitute Reference Exchange"), then the Factor Index shall be calculated where applicable on the basis of the Reference Instrument calculated and published by the Substitute Reference Exchange. All references to the Reference Exchange contained in this index description shall be deemed to refer analogously to the Substitute Reference Exchange. If in the reasonable discretion of the Index Calculation Agent it is not possible, for whatever reason, to stipulate a different relevant index concept, the leverage component shall remain unchanged and the index level shall be determined solely on the basis of the remaining components of the index formula.

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:     Rt  + divf × div  d  IDXt  IDXT 1  1   IDX t = IDX T −1 × 1 + L   ×  R  1  IRT 1  −1 + [(1 − L)× IRT −1 + L × FST  IG  360   − IG]×    T 1   Leverage −1   leverage component Financing financing component where: T IDXt = = current Index Calculation Day Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes pre- cedes the current Index Calculation Day T L = Leverage (Factor): 5 -5 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 divf = Dividend Tax Factor div = Dividend on Index Calculation Day T. If the individual Dividend Method is used this amount is 0, except on the Ex-Dividend Date. IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price falls below (plus any Dividend mul- tiplied by the Dividend Tax Factor: Rs + divf × div ) exceeds the most recent Valuation Price of the Current Reference Instrument by more than 17% (Barrier), an "Intraday Index Adjustment" takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 1.17 – divf x div d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.831.17. In addition, the net dividend is deducted (in the case of the individual Dividend Method, on- ly if Index Calculation Day T is an Ex-Dividend Date). The Dividend and Dividend Tax Factor are no longer taken into account for the purposes of the index calculation in accordance with section C) 1) on the new, simulated Index Calculation Day. The financing component remains unchanged. No addi- tional interest or additional costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined belowbe- low). In doing so, the The Index Calculation Agent will endeavour – as far as to the extent possible – endeavor to calculate the leverage component as if no Extraordinary Adjust- ment Adjustment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion the relevant Valuation Price of for the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Derivatives Exchange for futures and options linked to the Reference ExchangeInstrument traded there. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this such adjustment necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument futures and options traded on the Reference Derivatives Exchange. Adjustments of this nature Such adjustments may in particular relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation stipulation of a different Reference Ex- change and a different Exchange, Derivatives Exchange or Reference Instrument Price. The list of Extraordinary Adjustment Events cited listed in section B) is not exhaustive. The deciding factor is whether the Reference Derivatives Exchange considers it necessary to adjust deems an adjustments of the contract size, the Reference Instrument an underlying or the designation involvement of the relevant exchange for the determination of Reference Exchange determining the price of the reference item of Reference Instrument to be necessary. If neither futures nor options linked to the Reference InstrumentInstrument are traded on the Deriva- tives Exchange, the adjustment shall be made in a manner in which the Derivatives Exchange would do so if corresponding futures or options were traded there. In cases of doubt about the application of the adjust- ment rules,modification rules of the Derivatives Exchange, the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Derivatives Exchange shall apply in addition to the provisions set out above. If the Reference Instrument (Index) is cancelled or replaced by a different index concept, or if the li- cense agreement between the Reference Exchange and the Index Calculation Agent cannot be re- newed, the Index Calculation Agent determines – where appropriate by applying an adjusted Refer- ence Instrument Price for the Reference Instrument at time t (Rt) – whether and which different in- dex concept will be used in the future as a basis for calculating the Factor Index. If the Reference Instrument is no longer calculated and determined and/or published by the Refer- ence Exchange but by another person, company or institution that the Index Calculation Agent in its reasonable discretion considers to be suitable ("Substitute Reference Exchange"), then the Factor Index shall be calculated where applicable on the basis of the Reference Instrument calculated and published by the Substitute Reference Exchange. All references to the Reference Exchange contained in this index description shall be deemed to refer analogously to the Substitute Reference Exchange. If in the reasonable discretion of the Index Calculation Agent it is not possible, for whatever reason, to stipulate a different relevant index concept, the leverage component shall remain unchanged and the index level shall be determined solely on the basis of the remaining components of the index formula.

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:   Rt  d  IDXt  IDXT 1  1  L   R  1  IRT 1  FST  IG  360   T 1   Leverage component Financing component where: T IDXt = = current Index Calculation Day Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes the current Index Calculation Day T L = Leverage (Factor): 5 -7 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price falls below exceeds the most recent re- cent Valuation Price of the Current Reference Instrument by more than 1712% (Barrier), an "Intraday In- traday Index Adjustment" takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 1.12 d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.831.12. The financing component remains unchanged. No addi- tional interest or costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined below). In doing so, the Index Calculation Agent will endeavour – as far as possible – to calculate the leverage component as if no Extraordinary Adjust- ment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion the relevant Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Reference Exchange. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument traded on the Reference Exchange. Adjustments of this nature may relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation of a different Reference Ex- change and a different Reference Instrument Price. The list of Extraordinary Adjustment Events cited in section B) is not exhaustive. The deciding factor is whether the Reference Exchange considers it necessary to adjust the contract size, the Reference Instrument or the designation of the relevant exchange for the determination of the price of the reference item of the Reference Instrument. In cases of doubt about the application of the adjust- ment rules,the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Exchange shall apply in addition to the provisions set out above.

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el level is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal decimal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:    Rt  d   IDXt  IDXT 1  1  1 L    R 1  1  L 1 IRT 1   FST  IG  360   IG    T 1   Leverage  leverage component Financing financing component where: T IDXt = = current Index Calculation Day IDXt = Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes the current Index Calculation Day T L = Leverage (Factor): 5 7 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price falls below the most recent Valuation Price of the Current Reference Instrument by more than 1712% (Barrier), an "“Intraday Index Adjustment" ” takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 0,88 d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.830,88. The financing component remains unchanged. No addi- tional additional interest or costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined below). In doing so, the The Index Calculation Agent will endeavour – as far as to the extent possible – endeavor to calculate the leverage component as if no Extraordinary Adjust- ment Adjustment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion discretion the relevant Valuation Price of for the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Derivatives Exchange for futures and options linked to the Reference ExchangeInstrument traded there. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this such adjustment necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument futures and options traded on the Reference Derivatives Exchange. Adjustments of this nature Such adjustments may in particular relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation stipulation of a different Reference Ex- change and a different Exchange, Derivatives Exchange or Reference Instrument Price. The list of Extraordinary Adjustment Events cited listed in section B) is not exhaustive. The deciding factor is whether the Reference Derivatives Exchange considers it necessary to adjust deems an adjustments of the contract size, the Reference Instrument an underlying or the designation involvement of the relevant exchange for the determination of Reference Exchange determining the price of the reference item of Reference Instrument to be necessary. If neither futures nor options linked to the Reference InstrumentInstrument are traded on the Derivatives Exchange, the adjustment shall be made in a manner in which the Derivatives Exchange would do so if corresponding futures or options were traded there. In cases of doubt about the application of the adjust- ment rules,modification rules of the Derivatives Exchange, the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Derivatives Exchange shall apply in addition to the provisions set out above. If the Reference Instrument (Index) is cancelled or replaced by a different index concept, or if the license agreement between the Reference Exchange and the Index Calculation Agent cannot be renewed, the Index Calculation Agent determines – where appropriate by applying an adjusted Reference Instrument Price for the Reference Instrument at time t (Rt) – whether and which different index concept will be used in the future as a basis for calculating the Factor Index. If the Reference Instrument is no longer calculated and determined and/or published by the Reference Exchange but by another person, company or institution that the Index Calculation Agent in its reasonable discretion considers to be suitable (“Substitute Reference Exchange”), then the Factor Index shall be calculated where applicable on the basis of the Reference Instrument calculated and published by the Substitute Reference Exchange. All references to the Reference Exchange contained in this index description shall be deemed to refer analogously to the Substitute Reference Exchange. If in the reasonable discretion of the Index Calculation Agent it is not possible, for whatever reason, to stipulate a different relevant index concept, the leverage component shall remain unchanged and the index level shall be determined solely on the basis of the remaining components of the index formula.

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:     Rt  + divf × div  d  IDXt  IDXT 1  1   = IDX T −1 × 1 + L   ×  R  1  IRT 1  − 1 − [(L − 1)× (IRT −1 + FST  IG  360   ) + IG]×    T 1   Leverage −1   leverage component Financing financing component where: :T IDXt = = current Index Calculation Day IDXt = Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes pre- cedes the current Index Calculation Day T L = Leverage (Factor): 5 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 divf = Dividend Tax Factor div = Dividend on Index Calculation Day T. If the individual Dividend Method is used this amount is 0, except on the Ex-Dividend Date. IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price (plus any Dividend multiplied by the Dividend Tax Factor: Rs + divf × div ) falls below the most recent Valuation Price of the Current Reference Instrument by more than 17% (Barrier), an "Intraday Index AdjustmentAdjust- ment" takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 0,83 – divf x div d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.830,83. In addition, the net dividend shall be deducted (in case of the individual Dividend Method only if the Index Calculation Day T is an Ex-Dividend Date). Dividend and Dividend Tax Factor shall not be considered in the index calculation in section C) 1) on such simulated Index Calculation Day. The financing component remains unchanged. No addi- tional additional interest or costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined belowbe- low). In doing so, the The Index Calculation Agent will endeavour – as far as to the extent possible – endeavor to calculate the leverage component as if no Extraordinary Adjust- ment Adjustment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion the relevant Valuation Price of for the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Derivatives Exchange for futures and options linked to the Reference ExchangeInstrument traded there. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this such adjustment necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument futures and options traded on the Reference Derivatives Exchange. Adjustments of this nature Such adjustments may in particular relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation stipulation of a different Reference Ex- change and a different Exchange, Derivatives Exchange or Reference Instrument Price. The list of Extraordinary Adjustment Events cited listed in section B) is not exhaustive. The deciding factor is whether the Reference Derivatives Exchange considers it necessary to adjust deems an adjustments of the contract size, the Reference Instrument an underlying or the designation involvement of the relevant exchange for the determination of Reference Exchange determining the price of the reference item of Reference Instrument to be necessary. If neither futures nor options linked to the Reference InstrumentInstrument are traded on the Deriva- tives Exchange, the adjustment shall be made in a manner in which the Derivatives Exchange would do so if corresponding futures or options were traded there. In cases of doubt about the application of the adjust- ment rules,modification rules of the Derivatives Exchange, the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Derivatives Exchange shall apply in addition to the provisions set out above. If the Reference Instrument (Index) is cancelled or replaced by a different index concept, or if the li- cense agreement between the Reference Exchange and the Index Calculation Agent cannot be re- newed, the Index Calculation Agent determines – where appropriate by applying an adjusted Refer- ence Instrument Price for the Reference Instrument at time t (Rt) – whether and which different in- dex concept will be used in the future as a basis for calculating the Factor Index. If the Reference Instrument is no longer calculated and determined and/or published by the Refer- ence Exchange but by another person, company or institution that the Index Calculation Agent in its reasonable discretion considers to be suitable ("Substitute Reference Exchange"), then the Factor Index shall be calculated where applicable on the basis of the Reference Instrument calculated and published by the Substitute Reference Exchange. All references to the Reference Exchange contained in this index description shall be deemed to refer analogously to the Substitute Reference Exchange. If in the reasonable discretion of the Index Calculation Agent it is not possible, for whatever reason, to stipulate a different relevant index concept, the leverage component shall remain unchanged and the index level shall be determined solely on the basis of the remaining components of the index formula.

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:     Rt  + divf × div  d  IDXt  IDXT 1  1   = IDX T −1 × 1 + L   ×  R  1  IRT 1  − 1 − [(L − 1)× (IRT −1 + FST  IG  360   ) + IG]×    T 1   Leverage −1   leverage component Financing financing component where: T IDXt = = current Index Calculation Day Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes pre- cedes the current Index Calculation Day T L = Leverage (Factor): 5 7 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 divf = Dividend Tax Factor div = Dividend on Index Calculation Day T. If the individual Dividend Method is used this amount is 0, except on the Ex-Dividend Date. IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price (plus any Dividend multiplied by the Dividend Tax Factor: Rs + divf × div ) falls below the most recent Valuation Price of the Current Reference Instrument by more than 1712% (Barrier), an "Intraday Index AdjustmentAdjust- ment" takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 0.88 – divf x div d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.830.88. In addition, the net dividend shall be deducted (in case of the individual Dividend Method only if the Index Calculation Day T is an Ex-Dividend Date). Dividend and Dividend Tax Factor shall not be considered in the index calculation in section C) 1) on such simulated Index Calculation Day. The financing component remains unchanged. No addi- tional additional interest or costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined belowbe- low). In doing so, the The Index Calculation Agent will endeavour – as far as to the extent possible – endeavor to calculate the leverage component as if no Extraordinary Adjust- ment Adjustment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion the relevant Valuation Price of for the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Derivatives Exchange for futures and options linked to the Reference ExchangeInstrument traded there. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this such adjustment necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument futures and options traded on the Reference Derivatives Exchange. Adjustments of this nature Such adjustments may in particular relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation stipulation of a different Reference Ex- change and a different Exchange, Derivatives Exchange or Reference Instrument Price. The list of Extraordinary Adjustment Events cited listed in section B) is not exhaustive. The deciding factor is whether the Reference Derivatives Exchange considers it necessary to adjust deems an adjustments of the contract size, the Reference Instrument an underlying or the designation involvement of the relevant exchange for the determination of Reference Exchange determining the price of the reference item of Reference Instrument to be necessary. If neither futures nor options linked to the Reference InstrumentInstrument are traded on the Deriva- tives Exchange, the adjustment shall be made in a manner in which the Derivatives Exchange would do so if corresponding futures or options were traded there. In cases of doubt about the application of the adjust- ment rules,modification rules of the Derivatives Exchange, the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Derivatives Exchange shall apply in addition to the provisions set out above. If the Reference Instrument (Index) is cancelled or replaced by a different index concept, or if the li- cense agreement between the Reference Exchange and the Index Calculation Agent cannot be re- newed, the Index Calculation Agent determines – where appropriate by applying an adjusted Refer- ence Instrument Price for the Reference Instrument at time t (Rt) – whether and which different in- dex concept will be used in the future as a basis for calculating the Factor Index. If the Reference Instrument is no longer calculated and determined and/or published by the Refer- ence Exchange but by another person, company or institution that the Index Calculation Agent in its reasonable discretion considers to be suitable ("Substitute Reference Exchange"), then the Factor Index shall be calculated where applicable on the basis of the Reference Instrument calculated and published by the Substitute Reference Exchange. All references to the Reference Exchange contained in this index description shall be deemed to refer analogously to the Substitute Reference Exchange. If in the reasonable discretion of the Index Calculation Agent it is not possible, for whatever reason, to stipulate a different relevant index concept, the leverage component shall remain unchanged and the index level shall be determined solely on the basis of the remaining components of the index formula.

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:   ⎧ ⎛ Rt  + divf × div ⎞ d  ⎫ IDXt  = IDXT 1  1  −1 × ⎨1+ L   ×⎜ R  1  IRT 1  −1⎟ + [(1− L)× IRT −1 + L × FST  IG  360   − IG]× ⎬ ⎩ ⎝ T 1   Leverage −1 ⎠ ⎭ leverage component Financing financing component where: T IDXt = = current Index Calculation Day Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes pre- cedes the current Index Calculation Day T L = Leverage (Factor): 5 -7 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 divf = Dividend Tax Factor div = Dividend on Index Calculation Day T. If the individual Dividend Method is used this amount is 0, except on the Ex-Dividend Date. IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price falls below (plus any Dividend mul- tiplied by the Dividend Tax Factor: Rs + divf × div ) exceeds the most recent Valuation Price of the Current Reference Instrument by more than 1712% (Barrier), an "Intraday Index Adjustment" takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 1.12 – divf x div d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.831.12. In addition, the net dividend is deducted (in the case of the individual Dividend Method, on- ly if Index Calculation Day T is an Ex-Dividend Date). The Dividend and Dividend Tax Factor are no longer taken into account for the purposes of the index calculation in accordance with section C) 1) on the new, simulated Index Calculation Day. The financing component remains unchanged. No addi- tional interest or additional costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined belowbe- low). In doing so, the The Index Calculation Agent will endeavour – as far as to the extent possible – endeavor to calculate the leverage component as if no Extraordinary Adjust- ment Adjustment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion the relevant Valuation Price of for the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Derivatives Exchange for futures and options linked to the Reference ExchangeInstrument traded there. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this such adjustment necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument futures and options traded on the Reference Derivatives Exchange. Adjustments of this nature Such adjustments may in particular relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation stipulation of a different Reference Ex- change and a different Exchange, Derivatives Exchange or Reference Instrument Price. The list of Extraordinary Adjustment Events cited listed in section B) is not exhaustive. The deciding factor is whether the Reference Derivatives Exchange considers it necessary to adjust deems an adjustments of the contract size, the Reference Instrument an underlying or the designation involvement of the relevant exchange for the determination of Reference Exchange determining the price of the reference item of Reference Instrument to be necessary. If neither futures nor options linked to the Reference InstrumentInstrument are traded on the Deriva- tives Exchange, the adjustment shall be made in a manner in which the Derivatives Exchange would do so if corresponding futures or options were traded there. In cases of doubt about the application of the adjust- ment rules,modification rules of the Derivatives Exchange, the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Derivatives Exchange shall apply in addition to the provisions set out above. If the Reference Instrument (Index) is cancelled or replaced by a different index concept, or if the li- cense agreement between the Reference Exchange and the Index Calculation Agent cannot be re- newed, the Index Calculation Agent determines – where appropriate by applying an adjusted Refer- ence Instrument Price for the Reference Instrument at time t (Rt) – whether and which different index concept will be used in the future as a basis for calculating the Factor Index. If the Reference Instrument is no longer calculated and determined and/or published by the Refer- ence Exchange but by another person, company or institution that the Index Calculation Agent in its reasonable discretion considers to be suitable ("Substitute Reference Exchange"), then the Factor Index shall be calculated where applicable on the basis of the Reference Instrument calculated and published by the Substitute Reference Exchange. All references to the Reference Exchange contained in this index description shall be deemed to refer analogously to the Substitute Reference Exchange. If in the reasonable discretion of the Index Calculation Agent it is not possible, for whatever reason, to stipulate a different relevant index concept, the leverage component shall remain unchanged and the index level shall be determined solely on the basis of the remaining components of the index formula.

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:     Rt  + divf × div  d  IDXt  IDXT 1  1   = IDX T −1 × 1 + L   ×  R  1  IRT 1  − 1 − [(L − 1)× (IRT −1 + FST  IG  360   ) + IG]×    T 1   Leverage −1   leverage component Financing financing component where: T IDXt = = current Index Calculation Day Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes pre- cedes the current Index Calculation Day T L = Leverage (Factor): 5 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 divf = Dividend Tax Factor div = Dividend on Index Calculation Day T. If the individual Dividend Method is used this amount is 0, except on the Ex-Dividend Date. IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price (plus any Dividend multiplied by the Dividend Tax Factor: Rs + divf × div ) falls below the most recent Valuation Price of the Current Reference Instrument by more than 17% (Barrier), an "Intraday Index AdjustmentAdjust- ment" takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 – divf x div d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.83. In addition, the net dividend shall be deducted (in case of the individual Dividend Method only if the Index Calculation Day T is an Ex-Dividend Date). Dividend and Dividend Tax Factor shall not be considered in the index calculation in section C) 1) on such simulated Index Calculation Day. The financing component remains unchanged. No addi- tional additional interest or costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined belowbe- low). In doing so, the The Index Calculation Agent will endeavour – as far as to the extent possible – endeavor to calculate the leverage component as if no Extraordinary Adjust- ment Adjustment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion the relevant Valuation Price of for the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Derivatives Exchange for futures and options linked to the Reference ExchangeInstrument traded there. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this such adjustment necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument futures and options traded on the Reference Derivatives Exchange. Adjustments of this nature Such adjustments may in particular relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation stipulation of a different Reference Ex- change and a different Exchange, Derivatives Exchange or Reference Instrument Price. The list of Extraordinary Adjustment Events cited listed in section B) is not exhaustive. The deciding factor is whether the Reference Derivatives Exchange considers it necessary to adjust deems an adjustments of the contract size, the Reference Instrument an underlying or the designation involvement of the relevant exchange for the determination of Reference Exchange determining the price of the reference item of Reference Instrument to be necessary. If neither futures nor options linked to the Reference InstrumentInstrument are traded on the Deriva- tives Exchange, the adjustment shall be made in a manner in which the Derivatives Exchange would do so if corresponding futures or options were traded there. In cases of doubt about the application of the adjust- ment rules,modification rules of the Derivatives Exchange, the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Derivatives Exchange shall apply in addition to the provisions set out above. If the Reference Instrument (Index) is cancelled or replaced by a different index concept, or if the li- cense agreement between the Reference Exchange and the Index Calculation Agent cannot be re- newed, the Index Calculation Agent determines – where appropriate by applying an adjusted Refer- ence Instrument Price for the Reference Instrument at time t (Rt) – whether and which different in- dex concept will be used in the future as a basis for calculating the Factor Index. If the Reference Instrument is no longer calculated and determined and/or published by the Refer- ence Exchange but by another person, company or institution that the Index Calculation Agent in its reasonable discretion considers to be suitable ("Substitute Reference Exchange"), then the Factor Index shall be calculated where applicable on the basis of the Reference Instrument calculated and published by the Substitute Reference Exchange. All references to the Reference Exchange contained in this index description shall be deemed to refer analogously to the Substitute Reference Exchange. If in the reasonable discretion of the Index Calculation Agent it is not possible, for whatever reason, to stipulate a different relevant index concept, the leverage component shall remain unchanged and the index level shall be determined solely on the basis of the remaining components of the index formula.

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:     Rt  + divf × div  d  IDXt  IDXT 1  1   = IDX T −1 × 1 + L   ×  R  1  IRT 1  − 1 − [(L − 1)× (IRT −1 + FST  IG  360   ) + IG]×    T 1   Leverage −1   leverage component Financing financing component where: :T IDXt = = current Index Calculation Day IDXt = Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes pre- cedes the current Index Calculation Day T L = Leverage (Factor): 5 3 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 divf = Dividend Tax Factor div = Dividend on Index Calculation Day T. If the individual Dividend Method is used this amount is 0, except on the Ex-Dividend Date. IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price (plus any Dividend multiplied by the Dividend Tax Factor: Rs + divf × div ) falls below the most recent Valuation Price of the Current Reference Instrument by more than 1728% (Barrier), an "Intraday Index AdjustmentAdjust- ment" takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 0,72 – divf x div d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.830,72. In addition, the net dividend shall be deducted (in case of the individual Dividend Method only if the Index Calculation Day T is an Ex-Dividend Date). Dividend and Dividend Tax Factor shall not be considered in the index calculation in section C) 1) on such simulated Index Calculation Day. The financing component remains unchanged. No addi- tional additional interest or costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined belowbe- low). In doing so, the The Index Calculation Agent will endeavour – as far as to the extent possible – endeavor to calculate the leverage component as if no Extraordinary Adjust- ment Adjustment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion the relevant Valuation Price of for the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Derivatives Exchange for futures and options linked to the Reference ExchangeInstrument traded there. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this such adjustment necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument futures and options traded on the Reference Derivatives Exchange. Adjustments of this nature Such adjustments may in particular relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation stipulation of a different Reference Ex- change and a different Exchange, Derivatives Exchange or Reference Instrument Price. The list of Extraordinary Adjustment Events cited listed in section B) is not exhaustive. The deciding factor is whether the Reference Derivatives Exchange considers it necessary to adjust deems an adjustments of the contract size, the Reference Instrument an underlying or the designation involvement of the relevant exchange for the determination of Reference Exchange determining the price of the reference item of Reference Instrument to be necessary. If neither futures nor options linked to the Reference InstrumentInstrument are traded on the Deriva- tives Exchange, the adjustment shall be made in a manner in which the Derivatives Exchange would do so if corresponding futures or options were traded there. In cases of doubt about the application of the adjust- ment rules,modification rules of the Derivatives Exchange, the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Derivatives Exchange shall apply in addition to the provisions set out above. If the Reference Instrument (Index) is cancelled or replaced by a different index concept, or if the li- cense agreement between the Reference Exchange and the Index Calculation Agent cannot be re- newed, the Index Calculation Agent determines – where appropriate by applying an adjusted Refer- ence Instrument Price for the Reference Instrument at time t (Rt) – whether and which different in- dex concept will be used in the future as a basis for calculating the Factor Index. If the Reference Instrument is no longer calculated and determined and/or published by the Refer- ence Exchange but by another person, company or institution that the Index Calculation Agent in its reasonable discretion considers to be suitable ("Substitute Reference Exchange"), then the Factor Index shall be calculated where applicable on the basis of the Reference Instrument calculated and published by the Substitute Reference Exchange. All references to the Reference Exchange contained in this index description shall be deemed to refer analogously to the Substitute Reference Exchange. If in the reasonable discretion of the Index Calculation Agent it is not possible, for whatever reason, to stipulate a different relevant index concept, the leverage component shall remain unchanged and the index level shall be determined solely on the basis of the remaining components of the index formula.

Index calculation. The Factor Index shall be calculated for the first time on the Index Start Date. The initial level of the index on the Index Start Date corresponds to the Index Start Value. The respective current index lev- el is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two dec- imal places and published in accordance with section E). One index point corresponds to one unit of the Index Currency. The Factor Index is calculated for each time t during an Index Calculation Day T in accordance with the following formula:   Rt  d  IDXt  IDXT 1  1  L   R  1  IRT 1  FST  IG  360   T 1   Leverage component Financing component where: T IDXt = = current Index Calculation Day Index Value at time t on Index Calculation Day T IDXT-1 = Index Closing Value on Index Calculation Day T-1 which immediately precedes the current Index Calculation Day T L = Leverage (Factor): 5 7 Rt = Reference Instrument Price of the Current Reference Instrument at time t RT-1 = Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 IRT-1 = Interest Rate on Index Calculation Day T-1 FST = Financing Spread on Index Calculation Day T IG = Index Fee d = Number of calendar days between Index Calculation Days T-1 and T If at time s on Index Calculation Day T the Reference Instrument Price falls below the most recent Valuation Price of the Current Reference Instrument by more than 1712% (Barrier), an "Intraday Index Adjustment" takes place, simulating a new day: s = T, i.e. IDXT-1 (new) = IDXs RT-1 (new) = RT-1 (old) x 0.83 0.88 d = 0 A new Valuation Price valid after time s (RT-1 (new)) is calculated by multiplying the previous Valuation Price (RT-1 (old)) by 0.830.88. The financing component remains unchanged. No addi- tional interest or costs are incurred for the newly simulated day. In the event of an Extraordinary Adjustment Event occurring in relation to the Reference Instrument or the Current Reference Instrument, respectively, the Index Calculation Agent will adjust the index calculation on the Reference Date (as defined below). In doing so, the Index Calculation Agent will endeavour – as far as possible – to calculate the leverage component as if no Extraordinary Adjust- ment Event had occurred. The Index Calculation Agent will generally adjust the index calculation by correcting in its due dis- cretion the relevant Valuation Price of the Current Reference Instrument on Index Calculation Day T-1 on the Reference Date, in order to factor into the index calculation the adjustments relating to the (Current) Reference Instrument made on the Reference Exchange. The Index Calculation Agent may adjust the index calculation in some other manner if it deems this necessary in its due discretion in order to reflect differences between this Factor Index and the Ref- erence Instrument traded on the Reference Exchange. Adjustments of this nature may relate in par- ticular to the replacement of the Reference Instrument by another comparable Reference Instrument on another Reference Exchange and, where relevant, to the designation of a different Reference Ex- change and a different Reference Instrument Price. The list of Extraordinary Adjustment Events cited in section B) is not exhaustive. The deciding factor is whether the Reference Exchange considers it necessary to adjust the contract size, the Reference Instrument or the designation of the relevant exchange for the determination of the price of the reference item of the Reference Instrument. In cases of doubt about the application of the adjust- ment rules,the Index Calculation Agent shall decide such questions in its reasonable discretion. The rules and regulations of the Reference Exchange shall apply in addition to the provisions set out above.