BNP PARIBAS ARBITRAGE ISSUANCE
AVVISO n.20485 | 05 Dicembre 2013 | SeDeX - LEV. CERTIFICATES |
Mittente del comunicato : Borsa Italiana
Societa' oggetto dell'Avviso
: BNP PARIBAS ARBITRAGE ISSUANCE
Oggetto : Inizio negoziazione 'Leverage Certificates - Classe A' 'BNP PARIBAS ARBITRAGE
Testo del comunicato
ISSUANCE' emessi nell'ambito di un Programma
Si veda allegato.
Disposizioni della Borsa
Strumenti finanziari: Turbo Certificates on Indexes
Emittente: BNP PARIBAS ARBITRAGE ISSUANCE
Garante: BNP Paribas
Rating Emittente: Società di Rating Long Term Data Report Moody's A2 21/06/2012
Standard & Poor's A+ 25/10/2012
Fitch Ratings A+ 15/12/2011
Oggetto: INIZIO NEGOZIAZIONI IN BORSA
Data di inizio negoziazioni: 06/12/2013
Mercato di quotazione: Borsa - Comparto SEDEX 'Leverage Certificates - Classe
A'
Orari e modalità di negoziazione: Negoziazione continua e l'orario stabilito dall'art. IA.7.3.1
delle Istruzioni
Operatore incaricato ad assolvere l'impegno di quotazione:
BNP Paribas Arbitrage SNC Member ID Specialist: IT0540
Limiti di variazione prezzi: Vedi tabella in allegato 1 (in fondo al presente avviso)
CARATTERISTICHE SALIENTI DEI TITOLI OGGETTO DI QUOTAZIONE
Turbo Certificates on Indexes
Tipo di liquidazione: monetaria
Modalità di esercizio: europeo
DISPOSIZIONI DELLA BORSA ITALIANA
Dal giorno 06/12/2013, gli strumenti finanziari 'Turbo Certificates on Indexes' (vedasi scheda riepilogativa delle caratteristiche dei securitised derivatives) verranno inseriti nel Listino Ufficiale, sezione Securitised Derivatives.
Allegati:
- Scheda riepilogativa delle caratteristiche dei securitised derivatives;
- Estratto del prospetto di quotazione dei Securitised Derivatives
Num. Serie | Codice Isin | Trading Code | Instrument Id | Descrizione | Sottostante | Tipologia | Strike | Data Scadenza | Parità | Quantità | Lotto Negoziazione | EMS | Prima Barriera |
18 | NL0010400081 | P00081 | 754732 | BPAFTMIBSLTB17500AB17500E210314 | XXXX XXX | Xxxx | 00000 | 21/03/14 | 0,0001 | 50000000 | 1 | 32765 | 17500 |
19 | NL0010400099 | P00099 | 754733 | BPAFTMIBSLTB17000AB17000E210314 | XXXX XXX | Xxxx | 00000 | 21/03/14 | 0,0001 | 50000000 | 1 | 19794 | 17000 |
29 | NL0010400198 | P00198 | 754734 | BPADAXSLTB8700AB8700E190314 | DAX | Bull | 8700 | 19/03/14 | 0,01 | 1000000 | 1 | 558 | 8700 |
30 | NL0010400206 | P00206 | 754735 | BPADAXSLTB8300AB8300E190314 | DAX | Bull | 8300 | 19/03/14 | 0,01 | 1000000 | 1 | 295 | 8300 |
43 | NL0010400339 | P00339 | 754736 | BPAFTMIBSLTB19500AB19500E210314 | XXXX XXX | Xxxx | 00000 | 21/03/14 | 0,0001 | 00000000 | 0 | 00000 | 00000 |
45 | NL0010400354 | P00354 | 754737 | BPAFTMIBSLTB20500AB20500E210314 | XXXX XXX | Xxxx | 00000 | 21/03/14 | 0,0001 | 50000000 | 1 | 11176 | 20500 |
58 | NL0010400487 | P00487 | 754738 | BPADAXSLTB9600AB9600E190314 | DAX | Bear | 9600 | 19/03/14 | 0,01 | 1000000 | 1 | 553 | 9600 |
59 | NL0010400495 | P00495 | 754739 | BPADAXSLTB10000AB10000E190314 | DAX | Bear | 10000 | 19/03/14 | 0,01 | 1000000 | 1 | 293 | 10000 |
FINAL TERMS DATED 5 DECEMBER 2013
BNP Paribas Arbitrage Issuance B.V.
(incorporated in The Netherlands) (as Issuer)
BNP Paribas (incorporated in France) (as Guarantor)
(Note, Warrant and Certificate Programme)
EUR "Turbo" Certificates relating to an Index BNP Paribas Arbitrage S.N.C.
(as Manager)
Any person making or intending to make an offer of the Securities may only do so:
(i) in those Public Offer jurisdictions mentioned in Paragraph 47 of Part A below, provided such person is of a kind specified in that paragraph and that the offer is made during the Offer Period specified in that paragraph; or
(ii) otherwise in circumstances in which no obligation arises for the Issuer or any Manager to publish a prospectus pursuant to Article 3 of the Prospectus Directive or to supplement a prospectus pursuant to Article 16 of the Prospectus Directive, in each case, in relation to such offer.
None of the Issuer, the Guarantor or any Manager has authorised, nor do they authorise, the making of any offer of Securities in any other circumstances.
The expression "Prospectus Directive" means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending Directive, to the extent implemented in the Relevant Member State), and includes any relevant implementing measure in the Relevant Member State and the expression "2010 PD Amending Directive" means Directive 2010/73/EU.
PART A – CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Base Prospectus dated 3 June 2013, eachSupplement to the Base Prospectus published and approved on or before the date of these Final Terms (copies of which are available as described below) and any other Supplement to the Base Prospectus which may have been published and approved before the issue of any additional amount of Securities (the “Supplements”) (provided that to the extent any such Supplement (i) is published and approved after the date of these Final Terms and (ii) provide for any change to the Conditions of the Securities such changes shall have no effect with respect to the Conditions of the Securities to which these Final Terms relate) which together constitute a base prospectus for the purposes of Directive 2003/71/EC (the "Prospectus Directive") (the "Base Prospectus"). The Base Prospectus has been passported into Italy in compliance with Article 18 of the Prospectus Directive. This document constitutes the Final Terms of the Securities described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Base Prospectus. Full information on BNP Paribas Arbitrage Issuance B.V. (the "Issuer"), BNP Paribas (the "Guarantor") and the offer of the Securities is only available on the basis of the combination of these Final Terms and the Base Prospectus. A summary of the Securities (which comprises the Summary in the Base Prospectus as amended to reflect the provisions of these Final Terms) is annexed to these Final Terms. The Base Prospectus and any Supplement(s) to the Base Prospectus and these Final Terms are available for viewing on the following website: xxx.xxxxxxxxxxxxxxx.xx and copies may be obtained free of charge at the specified offices of the Security Agents. The Base Prospectus and the Supplements to the Base Prospectus will also be available on the AMF website xxx.xxx-xxxxxx.xxx
References herein to numbered Conditions are to the terms and conditions of the relevant series of Securities and words and expressions defined in such terms and conditions shall bear the same meaning in these Final Terms in so far as they relate to such series of Securities, save as where otherwise expressly provided.
These Final Terms relate to the series of Securities as set out in "Specific Provisions for each Series" below. References herein to "Securities" shall be deemed to be references to the relevant Securities that are the subject of these Final Terms and references to "Security" shall be construed accordingly.
SPECIFIC PROVISIONS FOR EACH SERIES
Series Number / ISIN Code | No. of Securities issued | No. of Securities | Common Code | Trading Code of Borsa Italiana | Issue Price per Security | Call / Put | Strike Price | Knock-out Level | Delivery or expiry month | Futures or Options Exchange | Exercise Date | Exercise Settlement Date | Parity | Multiplier* |
NL0010581088 | 1000000 | 1000000 | 98463909 | P81088 | 11.2000 | Call | EUR 7,600 | EUR 7,600 | December 2013 | EUREX | 18 Dec 13 | 30 Dec 13 | 100 | 0.01 |
NL0010581096 | 50000000 | 50000000 | 98463933 | P81096 | 0.2600 | Put | EUR 19,800 | EUR 19,800 | December 2013 | IDEM (Italian Derivatives Market) | 20 Dec 13 | 30 Dec 13 | 10,000 | 0.0001 |
NL0010581104 | 50000000 | 50000000 | 98463950 | P81104 | 0.3600 | Put | EUR 20,800 | EUR 20,800 | December 2013 | IDEM (Italian Derivatives Market) | 20 Dec 13 | 30 Dec 13 | 10,000 | 0.0001 |
NL0010581112 | 50000000 | 50000000 | 98463976 | P81112 | 0.4500 | Put | EUR 21,700 | EUR 21,700 | December 2013 | IDEM (Italian Derivatives Market) | 20 Dec 13 | 30 Dec 13 | 10,000 | 0.0001 |
NL0010581120 | 50000000 | 50000000 | 98463992 | P81120 | 0.5500 | Put | EUR 22,700 | EUR 22,700 | December 2013 | IDEM (Italian Derivatives Market) | 20 Dec 13 | 30 Dec 13 | 10,000 | 0.0001 |
NL0010581138 | 1000000 | 1000000 | 98464018 | P81138 | 3.8000 | Put | EUR 9,100 | EUR 9,100 | December 2013 | EUREX | 18 Dec 13 | 30 Dec 13 | 100 | 0.01 |
NL0010581146 | 1000000 | 1000000 | 98464034 | P81146 | 7.8000 | Put | EUR 9,500 | EUR 9,500 | December 2013 | EUREX | 18 Dec 13 | 30 Dec 13 | 100 | 0.01 |
NL0010581153 | 1000000 | 1000000 | 98464069 | P81153 | 12.8000 | Put | EUR 10,000 | EUR 10,000 | December 2013 | EUREX | 18 Dec 13 | 30 Dec 13 | 100 | 0.01 |
NL0010581161 | 1000000 | 1000000 | 98464085 | P81161 | 16.8000 | Put | EUR 10,400 | EUR 10,400 | December 2013 | EUREX | 18 Dec 13 | 30 Dec 13 | 100 | 0.01 |
NL0010400008 | 50000000 | 50000000 | 00000000 | P00008 | 0.0100 | Call | EUR 24,500 | EUR 24,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400016 | 50000000 | 50000000 | 00000000 | P00016 | 0.0100 | Call | EUR 22,500 | EUR 22,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400024 | 50000000 | 50000000 | 00000000 | P00024 | 0.0100 | Call | EUR 21,000 | EUR 21,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400032 | 50000000 | 50000000 | 00000000 | P00032 | 0.0100 | Call | EUR 20,500 | EUR 20,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400040 | 50000000 | 50000000 | 00000000 | P00040 | 0.0100 | Call | EUR 20,000 | EUR 20,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400057 | 50000000 | 50000000 | 00000000 | P00057 | 0.0100 | Call | EUR 19,500 | EUR 19,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400065 | 50000000 | 50000000 | 00000000 | P00065 | 0.0100 | Call | EUR 18,500 | EUR 18,500 | March 2014 | IDEM (Italian | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
Series Number / ISIN Code | No. of Securities issued | No. of Securities | Common Code | Trading Code of Borsa Italiana | Issue Price per Security | Call / Put | Strike Price | Knock-out Level | Delivery or Futures or Options expiry month Exchange | Exercise Date | Exercise Settlement Date | Parity | Multiplier* | |
Derivatives Market) | ||||||||||||||
NL0010400073 | 50000000 | 50000000 | 00000000 | P00073 | 0.0980 | Call | EUR 18,000 | EUR 18,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400081 | 50000000 | 50000000 | 00000000 | P00081 | 0.1380 | Call | EUR 17,500 | EUR 17,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400099 | 50000000 | 50000000 | 00000000 | P00099 | 0.1880 | Call | EUR 17,000 | EUR 17,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400107 | 50000000 | 50000000 | 00000000 | P00107 | 0.2880 | Call | EUR 16,000 | EUR 16,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400115 | 50000000 | 50000000 | 00000000 | P00115 | 0.3780 | Call | EUR 15,000 | EUR 15,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400123 | 50000000 | 50000000 | 00000000 | P00123 | 0.5680 | Call | EUR 13,500 | EUR 13,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400131 | 1000000 | 1000000 | 00000000 | P00131 | 0.0100 | Call | EUR 11,300 | EUR 11,300 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400149 | 1000000 | 1000000 | 00000000 | P00149 | 0.0100 | Call | EUR 10,500 | EUR 10,500 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400156 | 1000000 | 1000000 | 00000000 | P00156 | 0.0100 | Call | EUR 10,000 | EUR 10,000 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400164 | 1000000 | 1000000 | 00000000 | P00164 | 0.0100 | Call | EUR 9,600 | EUR 9,600 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400172 | 1000000 | 1000000 | 00000000 | P00172 | 0.0100 | Call | EUR 9,400 | EUR 9,400 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400180 | 1000000 | 1000000 | 00000000 | P00180 | 0.0100 | Call | EUR 9,100 | EUR 9,100 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400198 | 1000000 | 1000000 | 00000000 | P00198 | 0.2000 | Call | EUR 8,700 | EUR 8,700 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400206 | 1000000 | 1000000 | 00000000 | P00206 | 4.2000 | Call | EUR 8,300 | EUR 8,300 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400214 | 1000000 | 1000000 | 00000000 | P00214 | 6.2000 | Call | EUR 8,100 | EUR 8,100 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400222 | 1000000 | 1000000 | 00000000 | P00222 | 9.2000 | Call | EUR 7,800 | EUR 7,800 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400230 | 1000000 | 1000000 | 98464476 | P00230 | 13.2000 | Call | EUR 7,400 | EUR 7,400 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400248 | 1000000 | 1000000 | 98464492 | P00248 | 17.2000 | Call | EUR 7,000 | EUR 7,000 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400255 | 1000000 | 1000000 | 98464506 | P00255 | 26.2000 | Call | EUR 6,100 | EUR 6,100 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400263 | 50000000 | 50000000 | 98464522 | P00263 | 0.0100 | Put | EUR 13,500 | EUR 13,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400271 | 50000000 | 50000000 | 98464549 | P00271 | 0.0100 | Put | EUR 15,000 | EUR 15,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400289 | 50000000 | 50000000 | 98464565 | P00289 | 0.0100 | Put | EUR 16,000 | EUR 16,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400297 | 50000000 | 50000000 | 98464573 | P00297 | 0.0100 | Put | EUR 17,000 | EUR 17,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
Series Number / ISIN Code | No. of Securities issued | No. of Securities | Common Code | Trading Code of Borsa Italiana | Issue Price per Security | Call / Put | Strike Price | Knock-out Level | Delivery or expiry month | Futures or Options Exchange | Exercise Date | Exercise Settlement Date | Parity | Multiplier* |
NL0010400305 | 50000000 | 50000000 | 98464590 | P00305 | 0.0300 | Put | EUR 17,500 | EUR 17,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400313 | 50000000 | 50000000 | 98464603 | P00313 | 0.0700 | Put | EUR 18,000 | EUR 18,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400321 | 50000000 | 50000000 | 98464620 | P00321 | 0.1700 | Put | EUR 18,500 | EUR 18,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400339 | 50000000 | 50000000 | 98464638 | P00339 | 0.2600 | Put | EUR 19,500 | EUR 19,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400347 | 50000000 | 50000000 | 98464654 | P00347 | 0.3100 | Put | EUR 20,000 | EUR 20,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400354 | 50000000 | 50000000 | 98464662 | P00354 | 0.3600 | Put | EUR 20,500 | EUR 20,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400362 | 50000000 | 50000000 | 98464697 | P00362 | 0.4500 | Put | EUR 21,000 | EUR 21,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400370 | 50000000 | 50000000 | 98464719 | P00370 | 0.5500 | Put | EUR 22,500 | EUR 22,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400388 | 50000000 | 50000000 | 98464735 | P00388 | 0.7300 | Put | EUR 24,500 | EUR 24,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400396 NL0010400404 | 1000000 1000000 | 1000000 1000000 | 98464743 98464760 | P00396 P00404 | 0.0000 0.0000 | Put Put | EUR 6,100 EUR 7,000 | EUR 6,100 EUR 7,000 | March 2014 March 2014 | EUREX EUREX | 19 Mar 14 19 Mar 14 | 31 Mar 14 31 Mar 14 | 100 100 | 0.01 0.01 |
NL0010400412 | 1000000 | 1000000 | 98464778 | P00412 | 0.0100 | Put | EUR 7,400 | EUR 7,400 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400420 | 1000000 | 1000000 | 98464794 | P00420 | 0.0100 | Put | EUR 7,800 | EUR 7,800 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400438 | 1000000 | 1000000 | 98464808 | P00438 | 0.0100 | Put | EUR 8,100 | EUR 8,100 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400446 | 1000000 | 1000000 | 98464824 | P00446 | 0.0100 | Put | EUR 8,300 | EUR 8,300 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400453 | 1000000 | 1000000 | 98464832 | P00453 | 0.0100 | Put | EUR 8,700 | EUR 8,700 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400461 | 1000000 | 1000000 | 98464867 | P00461 | 3.8000 | Put | EUR 9,100 | EUR 9,100 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400479 | 1000000 | 1000000 | 98464875 | P00479 | 6.8000 | Put | EUR 9,400 | EUR 9,400 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400487 | 1000000 | 1000000 | 98464891 | P00487 | 8.8000 | Put | EUR 9,600 | EUR 9,600 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400495 NL0010400503 | 1000000 1000000 | 1000000 1000000 | 98464905 98464921 | P00495 P00503 | 12.8000 17.8000 | Put Put | EUR 10,000 EUR 10,500 | EUR 10,000 EUR 10,500 | March 2014 March 2014 | EUREX EUREX | 19 Mar 14 19 Mar 14 | 31 Mar 14 31 Mar 14 | 100 100 | 0.01 0.01 |
Series Number / ISIN Code | No. of Securities issued | No. of Securities | Common Code | Trading Code of Borsa Italiana | Issue Price per Security | Call / Put | Strike Price | Knock-out Level | Delivery or expiry month | Futures or Options Exchange | Exercise Date | Exercise Settlement Date | Parity | Multiplier* |
NL0010400511 | 1000000 | 1000000 | 98464930 | P00511 | 25.8000 | Put | EUR 11,300 | EUR 11,300 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
* For the purposes of Borsa Italiana, Multiplier equals to 1/Parity
Series Number / ISIN Code | Index | ISIN of Index | Reuters Code of Index / Reuters Screen Page | Index Sponsor | Index Sponsor Website | Exchange | Exchange Website |
NL0010581088 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010581096 | FTSE MIB | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
NL0010581138 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010581146 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010581153 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010581161 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400008 | FTSE MIB | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) |
Series Number / ISIN Code | Index | ISIN of Index | Reuters Code of Index / Reuters Screen Page | Index Sponsor | Index Sponsor Website | Exchange | Exchange Website |
NL0010400040 | FTSE MIB | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
NL0010400131 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400149 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400156 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400164 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400172 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400180 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400198 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400206 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400214 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- | Deutsche Börse AG | www.deutsche- |
Series Number / ISIN Code | Index | ISIN of Index | Reuters Code of Index / Reuters Screen Page | Index Sponsor | Index Sponsor Website | Exchange | Exchange Website |
xxxxxx.xxx | xxxxxx.xxx | ||||||
NL0010400222 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400230 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400248 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400255 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400263 | FTSE MIB | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
NL0010400396 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- | Deutsche Börse AG | www.deutsche- |
Series Number / ISIN Code | Index | ISIN of Index | Reuters Code of Index / Reuters Screen Page | Index Sponsor | Index Sponsor Website | Exchange | Exchange Website |
xxxxxx.xxx | xxxxxx.xxx | ||||||
NL0010400404 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400412 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400420 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400438 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400446 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400453 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400461 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400479 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400487 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400495 NL0010400503 | DAX DAX | DE0008469008 DE0008469008 | .GDAXI .GDAXI | Deutsche Boerse AG Deutsche Boerse AG | www.deutsche- xxxxxx.xxx www.deutsche- xxxxxx.xxx | Deutsche Börse AG Deutsche Börse AG | www.deutsche- xxxxxx.xxx www.deutsche- xxxxxx.xxx |
NL0010400511 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
GENERAL PROVISIONS
The following terms apply to each series of Securities:
1. Issuer: BNP Paribas Arbitrage Issuance B.V.
2. Guarantor: BNP Paribas
3. Trade Date: Not applicable.
4. Issue Date: 22 October 2013
5. Consolidation: Not applicable.
6. Type of Securities: (a) Certificates.
(b) The Securities are Index Securities.
Automatic Exercise applies on the Exercise Date.
The Exercise Date is indicated in "Specific Provisions for each Series" or if such day is not a Business Day the immediately subsequent Business Day.
The Exercise Date will be subject to the same adjustements provided for the Redemption Valuation Date. For the purposes of Borsa Italiana, the Exercise Date shall be deemed to be also the maturity date, i.e. the date on which the Securities expire.
The Exercise Settlement Date is as set out in "Specific Provisions for each Series"
The minimum number of Securities that may be exercised by the Holder is (1) one Security and in excess thereof by multiples of (1) one Security.
The provisions of Annex 2 (Additional Terms and Conditions for Index Securities) shall apply.
7. Form of Securities: Italian Dematerialised Securities
8. Business Day Centre(s): The applicable Business Day Centre for the purposes of the definition of "Business Day" in Condition 1 is TARGET2.
9. Settlement: Settlement will be by way of cash payment (Cash Settled Securities).
10. Rounding Convention
for cash Settlement Amount:
11. Variation of Settlement:
Issuer's option to vary settlement:
12. Final Payout:
[ETS Payout :]
Not applicable.
The Issuer does not have the option to vary settlement in respect of the Securities. ETS Final Payout 2200/1.
Call Securities or Put Securities.
Payout Switch: Not applicable.
Aggregation: Not applicable.
13. Relevant Asset(s): Not applicable.
14. Entitlement: Not applicable.
15. Exchange Rate: Not applicable
16. Settlement Currency: The settlement currency for the payment of the Cash Settlement Amount is Euro ("EUR").
17. Syndication: The Securities will be distributed on a non-syndicated basis.
18. Minimum Trading Size: Not applicable.
19. Principal Security Agent:
BNP Paribas Securities Services, Xxxxx Xxxxxx
20. Registrar: Not applicable.
21. Calculation Agent: BNP Paribas Arbitrage S.N.C.
000-000 xxxxxxxxx XxxXxxxxx, 00000 Xxxxx, Xxxxxx.
22. Governing law: English law.
23. Masse provisions (Condition 9.4):
Not applicable.
PRODUCT SPECIFIC PROVISIONS
24. Index Securities: Applicable
(a) Index/Basket of Indices/Index Sponsor(s) :
See the Specific Provisions for each Series above.
(b) Index Currency : EUR
(c) Exchange(s) : See the Specific Provisions for each Series above.
(d) Related Exchange(s) : All Exchanges.
(e) Exchange Business Day :
Single Index Basis.
(f) Scheduled Trading Day : Single Index Basis.
(g) Weighting : Not applicable.
(h) Settlement Price : In respect of non italian indices : Official closing level
In respect of italian index managed by Borsa Italiana
(i) Specified Maximum Days of Disruption :
Official opening level
Twenty (20) Scheduled Trading Days
(j) Valuation Time : In respect of non italian indices : Conditions apply
In respect of italian managed index by Borsa Italiana] :
(k) Delayed Redemption on Occurrence of an Index Adjustment Event :
the time when the Official opening level of the Underlying Index is determined by the Exchange.
Not applicable
(l) Index Correction Period As per Conditions
(n) Additional provisions
applicable to Futures Price Valuation :
(m) Additional provisions applicable to Custom Indices :
Not applicable
Not applicable
25. Share Securities: Not applicable
26. ETI Securities: Not applicable.
27. Debt Securities: Not applicable.
28. Commodity Securities: Not applicable
29. Inflation Index Securities :
Not applicable.
30. Currency Securities: Not applicable
31. Fund Securities: Not applicable.
32. Futures Securities: Not applicable.
33. Credit Securities: Not applicable.
34. Underlying Interest Rate Securities:
35. Preference Share Certificates:
Not applicable.
Not applicable.
36. OET Certificates: Not applicable.
37. Additional Disruption Events:
38. Optional Additional Disruption Events:
Applicable.
Hedging Disruption does not apply to the Securities.
(a) The following Optional Additional Disruption Event applies to the Securities: Insolvency Filing
(b) Delayed Redemption on Occurrence of an Additional Disruption Event and/or Optional Additional Disruption Event: Not applicable.
39. Knock-in Event: Not applicable.
40. Knock-out Event: Applicable.
In respect of Call Securities:
"less than or equal to" the Knock-out Level.
(a) SPS Knock-out Valuation:
In respect of Put Securities:
"greater than or equal to" the Knock-out Level. Not applicable.
(b) Level: Official level.
(c) Knock-out
Level/Knock-out Range Level:
(d) Knock-out Period Beginning Date:
(e) Knock-out Period Beginning Date Day Convention:
(f) Knock-out Determination Period:
(g) Knock-out
Determination Day(s):
See the Specific Provisions for each Series above.
The first day of listing
Applicable.
The period beginning on (and including) the Knock-out Period Beginning Date and ending on (and including) the Knock-out Period Ending Date.
Each Scheduled Trading Day in the Knock-out Determination Period.
(h) Knock-out
Period Ending Date:
(i) Knock-out Period Ending Date Day Convention:
The Redemption Valuation Date.
Applicable.
(j) Knock-out Valuation Time:
Any time on a Knock-out Determination Day.
(k) Knock-out
Observation Price Source:
(l) Disruption Consequences:
Index Sponsor .
Not applicable.
PROVISIONS RELATING TO WARRANTS
41. Provisions relating to Warrants:
Not applicable.
PROVISIONS RELATING TO CERTIFICATES
42. Provisions relating to Certificates:
(a) Notional
Amount of each Certificate:
(b) Partly Paid
Certificates:
Applicable.
Not applicable.
The Certificates are not Partly Paid Certificates.
(c) Interest: Not applicable.
(d) Instalment
Certificates:
(e) Issuer Call Option:
(f) Holder Put Option:
(g) Automatic Early Redemption:
(i) Automatic Early Redemption Event:
(ii) Automatic Early Redemption Payout:
(iii) Automatic Early Redemption Date(s):
(iv) Observation Price Source:
(v) Underlying Reference Level:
(vi) Automatic Early Redemption Level:
(vii) Automatic Early Redemption Percentage:
The Certificates are not Instalment Certificates. Not applicable.
Not applicable. Applicable.
AER Knock-out: Knock-out Event.
Automatic Early Redemption Payout 2200/1.
Not applicable.
Not applicable.
Not applicable.
Knock-out Level.
Not applicable.
(viii) Automatic Early Redemption Percentage Up:
(ix) Automatic Early Redemption Percentage Down:
(x) AER Exit Rate:
(xi) Automatic Early Redemption Valuation Date(s):
(h) Renouncement Notice Cut-off Time:
Not applicable.
Not applicable.
Not applicable.
AER Knock-out Date.
In respect of the DAX Index:
5.00 p.m. (Milan time)
In respect of the FTSE MIB Index:
10.00 a.m. (Milan time)
(i) Strike Date: Not applicable.
(j) Strike Price: See the Specific Provisions for each Series above.
(k) Redemption
Valuation Date: The Exercise Date.
(l) Averaging: Averaging does not apply to the Securities.
(m) Observation Dates:
(n) Observation Period:
(o) Settlement
Business Day:
Not applicable. Not applicable. Not applicable.
(p) Cut-off Date: Not applicable.
DISTRIBUTION AND US SALES ELIGIBILITY
43. Selling Restrictions: Not applicable.
44. Additional U.S. Federal
income tax consequences:
45. Registered
broker/dealer:
Not applicable.
Not applicable.
46. TEFRA C or TEFRA: Not applicable.
47. Non exempt Offer: An offer of the Securities may be made by the Manager and BNP Paribas (together being persons to whom the Issuer has given consent, (the Authorised Offerors) other than pursuant to Article 3(2) of the Prospectus Directive in the Republic of Italy (the "Public Offer Jurisdictions") during the period from, and including, the Issue Date until, and including, the date on which the Certificates are delisted (the "Offer Period").
General Consent: Not applicable.
Other Conditions to consent:
Not applicable.
PROVISIONS RELATING TO COLLATERAL AND SECURITY
48. Collateral Security Conditions:
Not applicable.
Responsibility
The Issuer accepts responsibility for the information contained in these Final Terms. To the best of the knowledge of the Issuer (who has taken all reasonable care to ensure that such is the case), the information contained herein is in accordance with the facts and does not omit anything likely to affect the import of such information.
Signed on behalf of BNP Paribas Arbitrage Issuance B.V. As Issuer:
By Xxxx authorised
PART B - OTHER INFORMATION
1. Listing and Admission to trading
Application will be made to list the Securities on the Italian Stock Exchange and to admit the Securities described herein for trading on the electronic “Securitised Derivatives Market” (the “SeDeX”) , organised and managed by Borsa Italiana S.p.A.
2. Ratings
The Securities to be issued have not been rated.
The rating of the Guarantor is A2 from Moody's and A+ from Standard and Poor's.
As defined by Moody's, an "A" rating means that the obligations of the Issuer and the Guarantor under the Programme are judged to be upper-medium grade and are subject to low credit risk. Moody's appends numerical modifiers 1, 2, and 3 to each generic rating classification from Aaa through Caa. The modifier 2 indicates a mid-range ranking.
As defined by Standard & Poor's, an obligation rated 'A' is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher-rated categories. However, the relevant Issuer and Guarantor's capacity to meet its financial commitment on the obligation is still strong. The addition of a plus (+) or minus (-) sign shows relative standing within the major rating category"
Moody's and Standard & Poor's are established in the European Union and are registered under Regulation (EC) No. 1060/2009 (as amended).
3. Interests of Natural and Legal Persons Involved in the Issue
Save as discussed in the "Potential Conflicts of Interest" paragraph in the "Risk Factors" in the Base Prospectus, so far as the Issuer is aware, no person involved in the offer of the Securities has an interest material to the offer.
4. Performance of Underlying/Formula/Other Variable, Explanation of Effect on Value of Investment and Associated Risks and Other Information concerning the Underlying
See Base Prospectus for an explanation of effect on value of Investment and associated risks in investing in Securities.
Information on each Index shall be available on the relevant Index Sponsor website as set out in "Specific Provisions for each Series" in Part A.
Past and further performances of each Index are available on the relevant Exchange website as set out in "Specific Provisions for each Series" in Part A and the volatility of each Index may be obtained from the Calculation Agent by emailing xxxxxxxxxxxxxxx@xxxxxxxxxx.xxx
The Issuer does not intend to provide post-issuance information.
INDEX DISCLAIMERS
Neither the Issuer nor the Guarantor shall have any liability for any act or failure to act by an Index Sponsor in connection with the calculation, adjustment or maintenance of an Index. Except as disclosed prior to the Issue Date, neither the Issuer, the Guarantor nor their affiliates has any affiliation with or control over an Index or Index Sponsor or any control over the computation, composition or dissemination of an Index. Although the Calculation Agent will obtain information concerning an Index from publicly available sources it believes reliable, it will not independently verify this information. Accordingly, no representation, warranty or undertaking (express or implied) is made and no responsibility is accepted by the Issuer, the Guarantor, their affiliates or the Calculation Agent as to the accuracy, completeness and timeliness of information concerning an Index.
FTSE MIB Index
The Certificates are not in any way sponsored, endorsed, sold or promoted by FTSE International Limited ("FTSE"), the London Stock Exchange Plc (the "Exchange"), The Financial Times Limited ("FT") or Borsa Italiana SpA (“Borsa Italiana”) (collectively the “Licensor Parties”) and none of the Licensor Parties make any warranty or representation whatsoever, expressly or impliedly, either as to the results to be obtained from the use of the FTSE MIB Index (the “Index") and/or the figure at which the said Index stands at any particular time on any particular day or otherwise. The Index is calculated by FTSE with the assistance of Borsa Italiana. None of the Licensor Parties shall be liable (whether in negligence or otherwise) to any person for any error in the Index and none of the Licensor Parties shall be under any obligation to advise any person of any error therein.
“FTSE®” is a trade mark of the Exchange and the FT, “MIB®” is a trade mark of Borsa Italiana and both are used by FTSE under licence.
DAX® Index
This financial instrument is neither sponsored nor promoted, distributed or in any other manner supported by Deutsche Börse AG (the "DBAG"). DBAG does not give any explicit or implicit warranty or representation, neither regarding the results deriving from the use of the Index, its underlying Index Data and/or the Index Trademark nor regarding the Index value at a certain point in time or on a certain date nor in any other respect. The Index and its underlying Index Data are calculated and published by DBAG. Nevertheless, as far as admissible under statutory law DBAG will not be liable vis-à-vis third parties for potential errors in the Index or its underlying Index Data. Moreover, there is no obligation for DBAG vis-à-vis third parties, including investors, to point out potential errors in the Index. Neither the publication of the Index by DBAG nor the granting of any right to use the Index, its underlying Index Data as well as the Index Trademark for the utilization in connection with the financial instrument or other securities or financial products, which derived from the Index, represents a recommendation by DBAG for a capital investment or contains in any manner a warranty or opinion by DBAG with respect to the attractiveness on an investment in this product. In its capacity as sole owner of all rights to the Index, its underlying Index Data, and the Index Trademark DBAG has solely granted to the issuer of the financial instrument the utilization of the Index Data and the Index Trademark as well as any reference to the Index Data and the Index Trademark in connection with the financial instrument.
5. Operational Information
Relevant Clearing System(s): Monte Titoli
6. Terms and Conditions of the Public Offer
Offer Period: See Paragraph 47 above.
Offer Price: The price of the Certificates will vary in accordance with a number of factors including, but not limited to, the price of the relevant Index].
Conditions to which the offer is subject:
Description of the application process:
Details of the minimum and/or maximum amount of application:
Description of possibility to reduce subscriptions and manner for refunding excess amount paid by applicants:
Details of the method and time limits for paying up and delivering Securities:
Not applicable.
Not applicable.
Minimum purchase amount per investor: One (1) Certificate.
Maximum purchase amount per investor: The number of Certificates issued in respect of each Series of Certificates.
Not applicable.
The Certificates are cleared through the clearing systems and are due to be delivered on or about the third Business Day after their purchase by the investor against payment of the purchase amount.
Manner in and date on which results of the offer are to be made public:
Procedure for exercise of any right of pre-emption, negotiability of subscription rights and treatment of subscription rights not exercised:
Process for notification to applicants of the amount allotted and indication whether dealing may begin before notification is made:
Amount of any expenses and taxes specifically charges to the subscriber or purchaser:
Not applicable.
Not applicable.
Not applicable.
Not applicable.
7. Placing and Underwriting
Name(s) and address(es), to the extent known to the issuer, of the placers in the various countries where the offer takes place:
Name and address of the co- ordinator(s) of the global offer and of single parts of the offer:
Name and address of any paying agents and depository agents in each country (in addition to the Principal Paying Agent):
Entities agreeing to underwrite the issue on a firm commitment basis, and entities agreeing to place the issue without a firm commitment or under "best efforts" arrangements:
When the underwriting agreement has been or will be reached:
None.
BNP Paribas
00 Xxxxxxxxx xxx Xxxxxxxx, 00000 Xxxxx, Xxxxxx.
Not applicable.
BNP Paribas Arbitrage S.N.C.
Not applicable.
8. Historic Interest Rates
Not applicable.
9. Form of Renouncement Notice
RENOUNCEMENT NOTICE
(to be completed by the Holder of the Security)
BNP Paribas Arbitrage Issuance B.V.
EUR "Turbo" Certificates relating to an Index
(the "Securities") To: BNP Paribas Securities Services, Xxxxx Xxxxxx
Xxx Xxxxxxxx 0, 00000 Xxxxxx, Xxxxx
Fax No: (00) 00 00000 000
We/I the undersigned Holder(s) of the Securities
hereby communicate that we are renouncing the automatic exercise on the Exercise of the rights granted by the Securities in accordance with the Terms and Conditions of the Securities, as amended and/or supplemented by the applicable Final Terms (the "Security Terms").
Series No. of the Securities:
Number of Securities the subject of this notice:
The undersigned understands that if this Renouncement Notice is not completed and delivered as provided in the Security Terms or is determined to be incomplete or not in proper form (in the determination of the Italian Security Agent), it will be treated as null and void.
If this Renouncement Notice is subsequently corrected to the satisfaction of the Italian Security Agent, it will be deemed to be a new Renouncement Notice submitted at the time such correction was delivered to the Italian Security Agent.
Expressions defined in the Security Terms shall bear the same meanings in this Renouncement Notice. Place and date:
Signature of the Holder
Name of beneficial owner of the Securities Signature
ISSUE SPECIFIC SUMMARY OF THE PROGRAMME IN RELATION TO THIS BASE PROSPECTUS
Summaries are made up of disclosure requirements known as "Elements". These Elements are numbered in Sections A – E (A.1 – E.7). This Summary contains all the Elements required to be included in a summary for this type of Securities, Issuer and Guarantor. Because some Elements are not required to be addressed, there may be gaps in the numbering sequence of the Elements. Even though an Element may be required to be inserted in the summary because of the type of Securities, Issuer and Guarantor(s), it is possible that no relevant information can be given regarding the Element. In this case a short description of the Element should be included in the summary explaining why it is not applicable.
Section A - Introduction and warnings
Element | Title | |
A.1 | Warning that the summary should be read as an introduction and provision as to claims | • This summary should be read as an introduction to the Base Prospectus and the applicable Final Terms. In this summary, unless otherwise specified and except as used in the first paragraph of Element D.3, "Base Prospectus" means the Base Prospectus of BNPP B.V., BNPP, BP2F, BNPPF and BGL dated 3 June 2013 as supplemented from time to time. In the first paragraph of Element D.3, "Base Prospectus" means the Base Prospectus of BNPP B.V., BNPP, BP2F, BNPPF and BGL dated 3 June 2013. |
• Any decision to invest in any Securities should be based on a consideration of the Base Prospectus as a whole, including any documents incorporated by reference and the applicable Final Terms. | ||
• Where a claim relating to information contained in the Base Prospectus and the applicable Final Terms is brought before a court in a Member State of the European Economic Area, the plaintiff may, under the national legislation of the Member State where the claim is brought, be required to bear the costs of translating the Base Prospectus and the applicable Final Terms before the legal proceedings are initiated. | ||
• No civil liability will attach to the Issuer or the Guarantor in any such Member State solely on the basis of this summary, including any translation hereof, unless it is misleading, inaccurate or inconsistent when read together with the other parts of the Base Prospectus and the applicable Final Terms or, following the implementation of the relevant provisions of Directive 2010/73/EU in the relevant Member State, it does not provide, when read together with the other parts of the Base Prospectus and the applicable Final Terms, key information (as defined in Article 2.1(s) of the Prospectus Directive) in order to aid investors when considering whether to invest in the |
Element | Title | |
Securities. | ||
A.2 | Consent as to use the Base Prospectus, period of validity and other conditions attached | Consent: Subject to the conditions set out below, the Issuer consents to the use of the Base Prospectus in connection with a Non-exempt Offer of Securities by the Managers and BNP Paribas (together with any other entity appointed for the placement of Securities during the Offer Period, "Authorised Offerors"). Offer period: The Issuer's consent referred to above is given for Non-exempt Offers of Securities from the Issue Date until the date on which the Securities are delisted (the "Offer Period"). |
Conditions to consent: The conditions to the Issuer’s consent are that such consent (a) is only valid during the Offer Period; (b) only extends to the use of the Base Prospectus to make Non-exempt Offers of the relevant Tranche of Securities in Italy. | ||
AN INVESTOR INTENDING TO ACQUIRE OR ACQUIRING ANY SECURITIES IN A NON-EXEMPT OFFER FROM AN AUTHORISED OFFEROR WILL DO SO, AND OFFERS AND SALES OF SUCH SECURITIES TO AN INVESTOR BY SUCH AUTHORISED OFFEROR WILL BE MADE, IN ACCORDANCE WITH ANY TERMS AND OTHER ARRANGEMENTS IN PLACE BETWEEN SUCH AUTHORISED OFFEROR AND SUCH INVESTOR INCLUDING AS TO PRICE, ALLOCATIONS AND SETTLEMENT ARRANGEMENTS. THE INVESTOR MUST LOOK TO THE AUTHORISED OFFEROR AT THE TIME OF SUCH OFFER FOR THE PROVISION OF SUCH INFORMATION AND THE AUTHORISED OFFEROR WILL BE RESPONSIBLE FOR SUCH INFORMATION. |
Section B - Issuer and Guarantor
Element | Title | |
B.1 | Legal and commercial name of the Issuer | BNP Paribas Arbitrage Issuance B.V. ("BNPP B.V." or the "Issuer"). |
B.2 | Domicile/ legal form/ legislation/ country of incorporation | The Issuer was incorporated in the Netherlands as a private company with limited liability under Dutch law having its registered office at Xxxxxxxxxxx 000, 0000 XX Xxxxxxxxx, the Netherlands. |
B.4b | Trend information | Not applicable, there are no trends, uncertainties, demands, commitments or events that are reasonably likely to have a material effect on BNPP B.V. and the industries in which it operates for at least the current financial year. |
Element | Title | ||||
B.5 | Description of the Group | BNPP B.V. is a wholly owned subsidiary of BNP Paribas. BNP Paribas is the ultimate holding company of a group of companies and manages financial operations for those subsidiary companies (together the "BNPP Group"). | |||
B.9 | Profit forecast or estimate | Not applicable, the Issuer has not made a profit forecast or estimate. | |||
B.10 | Audit report qualifications | Not applicable, there are no qualifications in any audit report on the historical financial information included in the Base Prospectus. | |||
B.12 | Selected historical key financial information: Comparative Annual Financial Data - In EUR | ||||
31/12/2011 | 31/12/2012 | ||||
Revenues | 317,178 | 337,955 | |||
Net income, Group share | 21,233 | 22,531 | |||
Total balance sheet | 32,347,971,221 | 37,142,623,335 | |||
Shareholders’ equity (Group share) | 366,883 | 389,414 | |||
Comparative Interim Financial Data – In EUR | |||||
30/06/2012 | 30/06/2013 | ||||
Revenues | 180,590 | 149,051 | |||
Net Income, Group Share | 11,989 | 9,831 | |||
Total Balance Sheet | 35,550,297,750 | 39,988,616,135 | |||
Shareholder’s Equity (Group share) | 378,872 | 399,245 | |||
Statements of no significant or material adverse change There has been no significant change in the financial or trading position of the BNPP Group since 30 September 2013 and there has been no material adverse change in the prospects of the BNPP Group since 31 December 2012. There has been no significant change in the financial or trading position of BNPP B.V. since 30 June 2013 and there has been no material adverse change in the prospects of BNPP B.V. since 30 June 2013. | |||||
B.13 | Events impacting the Issuer's solvency | Not applicable, to the best of the Issuer's knowledge there have not been any recent events which are to a material extent relevant to the evaluation of the Issuer's solvency since 31 December 2012. | |||
B.14 | Dependence upon other group entities | The Issuer is dependent upon BNPP and other members of the BNPP Group. See also Element B.5 above. | |||
B.15 | Principal | ||||
Element | Title | |
activities | The principal activity of the Issuer is to issue and/or acquire financial instruments of any nature and to enter into related agreements for the account of various entities within the BNPP Group. | |
B.16 | Controlling shareholders | BNP Paribas holds 100 per cent. of the share capital of the Issuer. |
B.17 | Solicited credit ratings | BNPP B.V.'s long term credit ratings are A+ with a negative outlook (Standard & Poor's Credit Market Services France SAS) and BNPP B.V.'s short term credit ratings are A-1 (Standard & Poor's Credit Market Services France SAS). The Securities have not been rated. A security rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, reduction or withdrawal at any time by the assigning rating agency. |
B.18 | Description of the Guarantee | The Securities will be unconditionally and irrevocably guaranteed by BNP Paribas ("BNPP" or the "Guarantor") pursuant to an English law deed of guarantee executed by BNPP on 3 June 2013 (the "Guarantee"). The obligations under the guarantee are direct unconditional, unsecured and unsubordinated obligations of BNPP and rank and will rank pari passu among themselves and at least pari passu with all other direct, unconditional, unsecured and unsubordinated indebtedness of BNPP (save for statutorily preferred exceptions). |
B.19 | Information about the Guarantor | |
B.19/ B.1 | Legal and commercial name of the Guarantor | BNP Paribas |
B.19/ B.2 | Domicile/ legal form/ legislation/ country of incorporation | The Guarantor was incorporated in France as a société anonyme under French law and licensed as a bank having its head office at 00, xxxxxxxxx xxx Xxxxxxxx – 00000 Xxxxx, Xxxxxx. |
B.19/ B.4b | Trend information | Macroeconomic Conditions. BNPP's results of operations are affected by the macroeconomic and market environment. Given the nature of its business, BNPP is particularly susceptible to macroeconomic and market conditions in Europe, which have experienced disruptions in recent years. |
Element | Title | ||||
While global economic conditions generally improved over the course of 2012, growth prospects diverge for advanced and developing economies in 2013 and going forward. In the Euro-zone, sovereign spreads came down in 2012 from historically high levels, although uncertainty remains over the solvability of certain sovereigns and the extent to which E.U. member states are willing to provide additional financing. Legislation and Regulations Applicable to Financial Institutions. BNPP is affected by legislation and regulations applicable to global financial institutions, which are undergoing significant change in the wake of the global financial crisis. New measures that have been proposed and adopted include more stringent capital and liquidity requirements, taxes on financial transactions, restrictions and taxes on employee compensation, limits on commercial banking activities, restrictions of types of financial products, increased internal control and transparency requirements, more stringent business conduct rules, mandatory reporting and clearing of derivative transactions, requirements to mitigate risks relating to OTC derivatives and the creation of new and strengthened regulatory bodies. New or proposed measures that affect or will affect BNPP include the Basel 3 and CRD4 prudential frameworks, the related requirements announced by the EBA, the designation of BNPP as a systemically important financial institution by the FSB, the French banking law, the E.U. Liikanen proposal and the Federal Reserve’s proposed framework for the regulation of foreign banks. | |||||
B.19/B.5 | Description the Group | of | BNPP is a European leading provider of banking and financial services and has four domestic retail banking markets in Europe, namely in Belgium, France, Italy and Luxembourg. It is present in 78 countries and has almost 190,000 employees, including over 145,000 in Europe. BNPP is the parent company of the BNP Paribas Group (the "BNPP Group"). | ||
B.19/B.9 | Profit forecast or estimate | Not applicable, the Guarantor has not made a profit forecast or estimate. | |||
B.19/ | Audit report | Not applicable, there are no qualifications in any audit report on the historical | |||
B.10 | qualifications | financial information included in the Base Prospectus | |||
B.19/ | Selected historical key financial information: | ||||
B.12 | Comparative Annual Financial Data - In millions of EUR | ||||
31/12/2011 | 31/12/2012 | ||||
Revenues | 42,384 | 39,072 | |||
Cost of risk | (6,797) | (3,941) | |||
Net income, Group share | 6,050 | 6,564 | |||
Element | Title | ||
Common Equity Tier 1 Ratio (Basel 2.5) | 9.6% | 11.8% | |
Tier 1 Ratio | 11.6% | 13.6% | |
Total consolidated balance sheet | 1,965,283 | 1,907,200 | |
Consolidated loans and receivables due from customers | 665,834 | 630,520 | |
Consolidated items due to customers | 546,284 | 539,513 | |
Shareholders’ equity (Group share) | 75,370 | 85,444 | |
Comparative Interim Financial Data for the six month period ended 30 June 2013 - In millions of EUR | ||
30/06/2012 | 30/06/2013 | |
Revenues | 19,984 | 19,972 |
Cost of risk | (1,798) | (2,087) |
Net income, Group share | 4,719 | 3,347 |
Common Equity Tier 1 Ratio (Basel 2.5) | 10.9% | 12.2% |
Tier 1 Ratio | 12.7% | 13.6% |
Total consolidated balance sheet | 1,969,943 | 1,861,338 |
Consolidated loans and receivables due from customers | 657,441 | 623,587 |
Consolidated items due to customers | 535,359 | 554,198 |
Shareholders’ equity (Group share) | 81,172 | 86,136 |
Comparative Interim Financial Data for the three month period ended 30 September 2013 - In millions of EUR | ||||
30/09/2012 | 30/09/2013 | |||
Revenues | 9,693 | 9,287 | ||
Cost of risk | (944) | (892) | ||
Net income, Group share | 1,326 | 1,358 | ||
31/12/2012 | 30/09/2013 | |||
Common Equity Tier 1 Ratio (Basel 2.5) | 11.8% | 12.6% | ||
Tier 1 Ratio | 13.6% | 13.8% | ||
Total consolidated balance sheet | 1,907,200 | 1,855,621 | ||
Consolidated loans and receivables due from customers | 630,520 | 610,987 | ||
Consolidated items due to customers | 539,513 | 552,547 | ||
Shareholders’ equity (Group share) | 85,444 | 86,644 | ||
Statements of no significant or material adverse change See Element B.12 above in the case of the BNPP Group. There has been no material adverse change in the prospects of BNPP since 31 December 2012. | ||||
B.19/ B.13 | Events impacting the Guarantor's solvency | Not applicable, to the best of the Guarantor's knowledge there have not been any recent events which are to a material extent relevant to the evaluation of the Guarantor's solvency since 31 December 2012. | ||
B.19/ B.14 | Dependence upon other Group entities | Subject to the following paragraph, BNPP is not dependent upon other members of the BNPP Group. In April 2004, BNPP began outsourcing IT Infrastructure Management Services to the “BNP Paribas Partners for Innovation” (BP²I) joint venture set up with IBM France at the end of 2003. BP²I provides IT Infrastructure Management Services for BNPP and several BNPP subsidiaries in France, Switzerland, and Italy. In mid-December 2011 BNPP renewed its agreement with IBM France for a period lasting until end-2017. At the end of 2012, the parties entered into an agreement to gradually extend this arrangement to BNP Paribas Fortis as from 2013. BP²I is 50/50-owned by BNPP and IBM France; IBM France is responsible for daily operations, with a strong commitment of BNPP as a | ||
significant shareholder. See also Element B.5 above. | ||
B.19/ B.15 | Principal activities | BNP Paribas holds key positions in its three activities: • Retail Banking, which includes: • a set of Domestic Markets, comprising: • French Retail Banking (FRB), • BNL banca commerciale (BNL bc), Italian retail banking, • Belgian Retail Banking (BRB), • Other Domestic Markets activities, including Luxembourg Retail Banking (LRB); • International Retail Banking, comprising: • Europe-Mediterranean, • BancWest; • Personal Finance; • Investment Solutions; • Corporate and Investment Banking (CIB). |
B.19/ B.16 | Controlling shareholders | None of the existing shareholders controls, either directly or indirectly, BNPP. The main shareholders are Société Fédérale de Participations et d’Investissement (SFPI) a public-interest société anonyme (public limited company) acting on behalf of the Belgian government holding 10.3% of the share capital as at 30 June 2013; AXA holding 2.9% of the share capital as at 30 June 2013 and Grand Duchy of Luxembourg holding 1.0% of the share capital as at 30 June 2013. To BNPP's knowledge, no shareholder other than SFPI owns more than 5% of its capital or voting rights. |
B.19/ B.17 | Solicited credit ratings | BNPP's long term credit ratings are A+ with a negative outlook (Standard & Poor's Credit Market Services France SAS), A2 with a stable outlook (Moody's Investors Service Ltd.) and A+ with a stable outlook (Fitch France S.A.S.). A security rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, reduction or withdrawal at any time by the assigning rating agency. |
Section C – Securities
Element | Title | |
C.1 | Type and class of Securities/ ISIN | The Securities are certificates ("Certificates") and are issued in Series. The Series Number of the Securities is as set out in the table in Element C.20 below. The ISIN is as set out in the table in Element C.20 below. The Common Code is as set out in the table in Element C.20 below. The Trading Code of Borsa Italiana is as set out in the table in Element C.20 below. The Securities are cash settled Securities. |
C.2 | Currency | The currency of this Series of Securities is Euro (“EUR”). |
C.5 | Restrictions on free transferabili ty | The Securities will be freely transferable, subject to the offering and selling restrictions in the United States, the European Economic Area, Austria, Belgium, the Czech Republic, France, Germany, Hungary, Ireland, Portugal, Spain, Sweden, the Netherlands, Poland, the United Kingdom, Japan and Australia and under the Prospectus Directive and the laws of any jurisdiction in which the relevant Securities are offered or sold. |
C.8 | Rights attaching to the Securities | Securities issued under the Programme will have terms and conditions relating to, among other matters: Status The Certificates are issued on a unsecured basis. Securities issued on an unsecured basis constitute direct, unconditional, unsecured and unsubordinated obligations of the Issuer and rank and will rank pari passu among themselves and at least pari passu with all other direct, unconditional, unsecured and unsubordinated indebtedness of the Issuer (save for statutorily preferred exceptions). |
Taxation The Holder must pay all taxes, duties and/or expenses arising from the exercise and settlement or redemption of the W&C Securities and/or the delivery or transfer of the Entitlement. The Issuer shall deduct from amounts payable or assets deliverable to Holders certain taxes and expenses not previously deducted from amounts paid or assets delivered to Holders, as the Calculation Agent determines are attributable to the W&C Securities. | ||
Negative pledge The terms of the Securities will not contain a negative pledge provision. | ||
Events of Default The terms of the Securities will not contain events of default. |
Element | Title | |
Meetings The terms of the Securities will contain provisions for calling meetings of holders of such Securities to consider matters affecting their interests generally. These provisions permit defined majorities to bind all holders, including holders who did not attend and vote at the relevant meeting and holders who voted in a manner contrary to the majority. | ||
Governing law The W&C Securities, the English Law Agency Agreement, the Related Guarantee in respect of the W&C Securities and any non-contractual obligations arising out of or in connection with the W&C Securities, the English Law Agency Agreement and the Guarantee in respect of the W&C Securities will be governed by and shall be construed in accordance with English law. | ||
C.9 | Interest/ Redemptio n | Interest The Securities do not bear or pay interest or premium amount. Redemption Unless previously redeemed or cancelled, each Security will be redeemed as set out in Element C.18. The Certificates may also be redeemed early on occurrence of an Additional Disruption Event, an Optional Additional Disruption Event, an Extraordinary Event, a Potential Adjustment Event or if performance of the Issuer's obligations under the Securities becomes illegal, or becomes illegal or impractical by reason of force majeure or act of state. The amount payable under the Securities on early redemption will be the fair market value of each Security less hedge costs. Representative of Securityholders No representative of the Securityholders has been appointed by the Issuer. Please also refer to item C.8 above for rights attaching to the Securities. |
C.10 | Derivative component in the interest payment | Not applicable |
C.11 | Admission to Trading | Application will be made by the Issuer (or on its behalf) for the Securities to be admitted to trading on the Italian Stock Exchange and to admit the Securities described herein for trading on the electronic "Securitised Derivatives Market" (the "SeDeX"). |
Element | Title | |
C.15 | How the value of the investment in the derivative securities is affected by the value of the underlying assets | The amount payable on redemption is calculated by reference to the Underlying Reference(s). See item C.9 above and C.18 below. |
C.16 | Maturity of the derivative Securities | The Exercise Date and the Exercise Settlement Date of the Securities are as set out in the table in Element C.20 below. |
C.17 | Settlement Procedure | This Series of Securities is cash settled. The Issuer does not have the option to vary settlement. |
C.18 | Return on derivative securities | See Element C.8 above for the rights attaching to the Securities. Settlement The Certificates will be automatically exercised on the Exercise Date. Upon automatic exercise each Certificate entitles the Holder to receive on the Exercise Settlement Date a Cash Settlement Amount equal to the Final Payout. Final Payout ETS Final Payout 2200/1. Call Securities or Put Securities. (i) if the Securities are specified in the applicable Final Terms as being Call Securities: (ii) if the Securities are specified in the applicable Final Terms as being Put Securities: Description of the Payout The Payout will be equal to (i) in the case of Call Securities, the excess (if any) of the Settlement Price on the Valuation Date over the Strike Price, or (ii) in the case |
Element | Title | |
of Put Securities, the excess (if any) of the Strike Price over the Settlement Price on the Valuation Date, in each case divided by the product of the Exchange Rate and Parity. "Settlement Price" means: In respect of non italian indices : Official closing level In respect of italian index managed by Borsa Italiana Official opening level "Settlement Price Final" means the Settlement Price on the Redemption Valuation Date Redemption Valuation Date means the Exercise Date. "Strike Price" see C.20 “Parity” see C.20 "Exchange Rate Final" means 1 Automatic Early Redemption If on any Automatic Early Redemption Valuation Date an Automatic Early Redemption Event occurs, the Securities will be redeemed early at the Automatic Early Redemption Amount (if any) on the Automatic Early Redemption Date. The Automatic Early Redemption Amount will be an amount equal to: Automatic Early Redemption Payout 2200/1: 0 (zero). "Automatic Early Redemption Event" means the occurrence of an AER Knock- out. "AER Knock-out" means the occurrence of the Knock-out Event : "Knock-out Event": In respect of Call Securities: Level is "less than or equal to" the Knock-out Level. In respect of Put Securities: Level is "greater than or equal to" the Knock-out Level. |
Element | Title | |
"Level" means Official level. "Knock-out Level": see C.20. The above provisions are subject to adjustment as provided in the conditions of the Securities to take into account events in relation to the Underlying Reference or the Securities. This may lead to adjustments being made to the Securities or in some cases the Securities being terminated early at an early redemption amount (see item C.9). | ||
C.19 | Final reference price of the Underlying | The final reference price of the underlying will be determined in accordance with the valuation mechanics set out in Element C.9 and C.18 above |
C.20 | Underlying | The Underlying Reference specified in Element C.18 above as set out in the table below. Information on the Underlying Reference can be obtained from the source as set out in the table below. |
Series Number / ISIN Code | No. of Securities issued | No. of Securities | Common Code | Trading Code of Borsa Italiana | Issue Price per Security | Call / Put | Strike Price | Knock-out Level | Delivery or expiry month | Futures or Options Exchange | Exercise Date | Exercise Settlement Date | Parity | Multiplier* |
NL0010581088 | 1000000 | 1000000 | 98463909 | P81088 | 11.2000 | Call | EUR 7,600 | EUR 7,600 | December 2013 | EUREX | 18 Dec 13 | 30 Dec 13 | 100 | 0.01 |
NL0010581096 | 50000000 | 50000000 | 98463933 | P81096 | 0.2600 | Put | EUR 19,800 | EUR 19,800 | December 2013 | IDEM (Italian Derivatives Market) | 20 Dec 13 | 30 Dec 13 | 10,000 | 0.0001 |
NL0010581104 | 50000000 | 50000000 | 98463950 | P81104 | 0.3600 | Put | EUR 20,800 | EUR 20,800 | December 2013 | IDEM (Italian Derivatives Market) | 20 Dec 13 | 30 Dec 13 | 10,000 | 0.0001 |
NL0010581112 | 50000000 | 50000000 | 98463976 | P81112 | 0.4500 | Put | EUR 21,700 | EUR 21,700 | December 2013 | IDEM (Italian Derivatives Market) | 20 Dec 13 | 30 Dec 13 | 10,000 | 0.0001 |
NL0010581120 | 50000000 | 50000000 | 98463992 | P81120 | 0.5500 | Put | EUR 22,700 | EUR 22,700 | December 2013 | IDEM (Italian Derivatives Market) | 20 Dec 13 | 30 Dec 13 | 10,000 | 0.0001 |
NL0010581138 | 1000000 | 1000000 | 98464018 | P81138 | 3.8000 | Put | EUR 9,100 | EUR 9,100 | December 2013 | EUREX | 18 Dec 13 | 30 Dec 13 | 100 | 0.01 |
NL0010581146 | 1000000 | 1000000 | 98464034 | P81146 | 7.8000 | Put | EUR 9,500 | EUR 9,500 | December 2013 | EUREX | 18 Dec 13 | 30 Dec 13 | 100 | 0.01 |
NL0010581153 | 1000000 | 1000000 | 98464069 | P81153 | 12.8000 | Put | EUR 10,000 | EUR 10,000 | December 2013 | EUREX | 18 Dec 13 | 30 Dec 13 | 100 | 0.01 |
NL0010581161 | 1000000 | 1000000 | 98464085 | P81161 | 16.8000 | Put | EUR 10,400 | EUR 10,400 | December 2013 | EUREX | 18 Dec 13 | 30 Dec 13 | 100 | 0.01 |
NL0010400008 | 50000000 | 50000000 | 00000000 | P00008 | 0.0100 | Call | EUR 24,500 | EUR 24,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400016 | 50000000 | 50000000 | 00000000 | P00016 | 0.0100 | Call | EUR 22,500 | EUR 22,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400024 | 50000000 | 50000000 | 00000000 | P00024 | 0.0100 | Call | EUR 21,000 | EUR 21,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400032 | 50000000 | 50000000 | 00000000 | P00032 | 0.0100 | Call | EUR 20,500 | EUR 20,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400040 | 50000000 | 50000000 | 00000000 | P00040 | 0.0100 | Call | EUR 20,000 | EUR 20,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400057 | 50000000 | 50000000 | 00000000 | P00057 | 0.0100 | Call | EUR 19,500 | EUR 19,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400065 | 50000000 | 50000000 | 00000000 | P00065 | 0.0100 | Call | EUR 18,500 | EUR 18,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400073 | 50000000 | 50000000 | 00000000 | P00073 | 0.0980 | Call | EUR 18,000 | EUR 18,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400081 | 50000000 | 50000000 | 00000000 | P00081 | 0.1380 | Call | EUR 17,500 | EUR 17,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
14
Series Number / ISIN Code | No. of Securities issued | No. of Securities | Common Code | Trading Code of Borsa Italiana | Issue Price per Security | Call / Put | Strike Price | Knock-out Level | Delivery or expiry month | Futures or Options Exchange | Exercise Date | Exercise Settlement Date | Parity | Multiplier* |
NL0010400099 | 50000000 | 50000000 | 00000000 | P00099 | 0.1880 | Call | EUR 17,000 | EUR 17,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400107 | 50000000 | 50000000 | 00000000 | P00107 | 0.2880 | Call | EUR 16,000 | EUR 16,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400115 | 50000000 | 50000000 | 00000000 | P00115 | 0.3780 | Call | EUR 15,000 | EUR 15,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400123 | 50000000 | 50000000 | 00000000 | P00123 | 0.5680 | Call | EUR 13,500 | EUR 13,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400131 | 1000000 | 1000000 | 00000000 | P00131 | 0.0100 | Call | EUR 11,300 | EUR 11,300 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400149 | 1000000 | 1000000 | 00000000 | P00149 | 0.0100 | Call | EUR 10,500 | EUR 10,500 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400156 | 1000000 | 1000000 | 00000000 | P00156 | 0.0100 | Call | EUR 10,000 | EUR 10,000 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400164 | 1000000 | 1000000 | 00000000 | P00164 | 0.0100 | Call | EUR 9,600 | EUR 9,600 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400172 | 1000000 | 1000000 | 00000000 | P00172 | 0.0100 | Call | EUR 9,400 | EUR 9,400 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400180 | 1000000 | 1000000 | 00000000 | P00180 | 0.0100 | Call | EUR 9,100 | EUR 9,100 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400198 | 1000000 | 1000000 | 00000000 | P00198 | 0.2000 | Call | EUR 8,700 | EUR 8,700 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400206 | 1000000 | 1000000 | 00000000 | P00206 | 4.2000 | Call | EUR 8,300 | EUR 8,300 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400214 | 1000000 | 1000000 | 00000000 | P00214 | 6.2000 | Call | EUR 8,100 | EUR 8,100 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400222 | 1000000 | 1000000 | 00000000 | P00222 | 9.2000 | Call | EUR 7,800 | EUR 7,800 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400230 | 1000000 | 1000000 | 98464476 | P00230 | 13.2000 | Call | EUR 7,400 | EUR 7,400 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400248 | 1000000 | 1000000 | 98464492 | P00248 | 17.2000 | Call | EUR 7,000 | EUR 7,000 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400255 | 1000000 | 1000000 | 98464506 | P00255 | 26.2000 | Call | EUR 6,100 | EUR 6,100 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400263 | 50000000 | 50000000 | 98464522 | P00263 | 0.0100 | Put | EUR 13,500 | EUR 13,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400271 | 50000000 | 50000000 | 98464549 | P00271 | 0.0100 | Put | EUR 15,000 | EUR 15,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400289 | 50000000 | 50000000 | 98464565 | P00289 | 0.0100 | Put | EUR 16,000 | EUR 16,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400297 | 50000000 | 50000000 | 98464573 | P00297 | 0.0100 | Put | EUR 17,000 | EUR 17,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400305 | 50000000 | 50000000 | 98464590 | P00305 | 0.0300 | Put | EUR 17,500 | EUR 17,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400313 | 50000000 | 50000000 | 98464603 | P00313 | 0.0700 | Put | EUR 18,000 | EUR 18,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
Series Number / ISIN Code | No. of Securities issued | No. of Securities | Common Code | Trading Code of Borsa Italiana | Issue Price per Security | Call / Put | Strike Price | Knock-out Level | Delivery or expiry month | Futures or Options Exchange | Exercise Date | Exercise Settlement Date | Parity | Multiplier* |
NL0010400321 | 50000000 | 50000000 | 98464620 | P00321 | 0.1700 | Put | EUR 18,500 | EUR 18,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400339 | 50000000 | 50000000 | 98464638 | P00339 | 0.2600 | Put | EUR 19,500 | EUR 19,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400347 | 50000000 | 50000000 | 98464654 | P00347 | 0.3100 | Put | EUR 20,000 | EUR 20,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400354 | 50000000 | 50000000 | 98464662 | P00354 | 0.3600 | Put | EUR 20,500 | EUR 20,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400362 | 50000000 | 50000000 | 98464697 | P00362 | 0.4500 | Put | EUR 21,000 | EUR 21,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400370 | 50000000 | 50000000 | 98464719 | P00370 | 0.5500 | Put | EUR 22,500 | EUR 22,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400388 | 50000000 | 50000000 | 98464735 | P00388 | 0.7300 | Put | EUR 24,500 | EUR 24,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400396 | 1000000 | 1000000 | 98464743 | P00396 | 0.0100 | Put | EUR 6,100 | EUR 6,100 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400404 | 1000000 | 1000000 | 98464760 | P00404 | 0.0100 | Put | EUR 7,000 | EUR 7,000 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400412 | 1000000 | 1000000 | 98464778 | P00412 | 0.0100 | Put | EUR 7,400 | EUR 7,400 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400420 | 1000000 | 1000000 | 98464794 | P00420 | 0.0100 | Put | EUR 7,800 | EUR 7,800 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400438 | 1000000 | 1000000 | 98464808 | P00438 | 0.0100 | Put | EUR 8,100 | EUR 8,100 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400446 | 1000000 | 1000000 | 98464824 | P00446 | 0.0100 | Put | EUR 8,300 | EUR 8,300 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400453 | 1000000 | 1000000 | 98464832 | P00453 | 0.0100 | Put | EUR 8,700 | EUR 8,700 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400461 | 1000000 | 1000000 | 98464867 | P00461 | 3.8000 | Put | EUR 9,100 | EUR 9,100 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400479 | 1000000 | 1000000 | 98464875 | P00479 | 6.8000 | Put | EUR 9,400 | EUR 9,400 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400487 | 1000000 | 1000000 | 98464891 | P00487 | 8.8000 | Put | EUR 9,600 | EUR 9,600 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400495 | 1000000 | 1000000 | 98464905 | P00495 | 12.8000 | Put | EUR 10,000 | EUR 10,000 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400503 | 1000000 | 1000000 | 98464921 | P00503 | 17.8000 | Put | EUR 10,500 | EUR 10,500 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400511 | 1000000 | 1000000 | 98464930 | P00511 | 25.8000 | Put | EUR 11,300 | EUR 11,300 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
* For the purposes of Borsa Italiana, Multiplier equals to 1/Parity
Series Number / ISIN Code | Index | ISIN of Index | Reuters Code of Index / Reuters Screen Page | Index Sponsor | Index Sponsor Website | Exchange | Exchange Website |
NL0010581088 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010581096 | FTSE MIB | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
NL0010581138 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010581146 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010581153 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010581161 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400008 NL0010400016 | FTSE MIB FTSE MIB | IT0003465736 IT0003465736 | .FTMIB .FTMIB | FTSE International Limited FTSE International Limited | Borsa Italiana (MTA) Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) |
Series Number / ISIN Code | Index | ISIN of Index | Reuters Code of Index / Reuters Screen Page | Index Sponsor | Index Sponsor Website | Exchange | Exchange Website |
NL0010400081 | FTSE MIB | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
NL0010400131 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400149 NL0010400156 | DAX DAX | DE0008469008 DE0008469008 | .GDAXI .GDAXI | Deutsche Boerse AG Deutsche Boerse AG | www.deutsche- xxxxxx.xxx www.deutsche- xxxxxx.xxx | Deutsche Börse AG Deutsche Börse AG | www.deutsche- xxxxxx.xxx www.deutsche- xxxxxx.xxx |
NL0010400164 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400172 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400180 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400198 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400206 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400214 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400222 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400230 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400248 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
Series Number / ISIN Code | Index | ISIN of Index | Reuters Code of Index / Reuters Screen Page | Index Sponsor | Index Sponsor Website | Exchange | Exchange Website |
NL0010400255 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400263 | FTSE MIB | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
NL0010400271 NL0010400289 | FTSE MIB FTSE MIB | IT0003465736 IT0003465736 | .FTMIB .FTMIB | FTSE International Limited FTSE International Limited | Borsa Italiana (MTA) Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
NL0010400396 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400404 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400412 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400420 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
Series Number / ISIN Code | Index | ISIN of Index | Reuters Code of Index / Reuters Screen Page | Index Sponsor | Index Sponsor Website | Exchange | Exchange Website |
NL0010400438 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400446 NL0010400453 | DAX DAX | DE0008469008 DE0008469008 | .GDAXI .GDAXI | Deutsche Boerse AG Deutsche Boerse AG | www.deutsche- xxxxxx.xxx www.deutsche- xxxxxx.xxx | Deutsche Börse AG Deutsche Börse AG | www.deutsche- xxxxxx.xxx www.deutsche- xxxxxx.xxx |
NL0010400461 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400479 NL0010400487 | DAX DAX | DE0008469008 DE0008469008 | .GDAXI .GDAXI | Deutsche Boerse AG Deutsche Boerse AG | www.deutsche- xxxxxx.xxx www.deutsche- xxxxxx.xxx | Deutsche Börse AG Deutsche Börse AG | www.deutsche- xxxxxx.xxx www.deutsche- xxxxxx.xxx |
NL0010400495 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400503 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400511 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
Section D – Risks
Element | Title | |
D.2 | Key risks regarding the Issuer and the Guarantor | There are certain factors that may affect the Issuer's ability to fulfil its obligations under the Securities issued under the Programme and the Guarantor's obligations under the Guarantee Twelve main categories of risk are inherent in BNPP's activities: |
• Credit Risk; | ||
• Counterparty Risk; | ||
• Securitisation; | ||
• Market Risk; | ||
• Operational Risk | ||
• Compliance and Reputation Risk; | ||
• Concentration Risk | ||
• Asset-liability management Risk; | ||
• Breakeven Risk; | ||
• Strategy Risk; | ||
• Liquidity and refinancing Risk; | ||
• Insurance subscription Risk. | ||
Difficult market and economic conditions could have a material adverse effect on the operating environment for financial institutions and hence on BNPP's financial condition, results of operations and cost of risk. | ||
Legislative action and regulatory measures taken in response to the global financial crisis may materially impact BNPP and the financial and economic environment in which it operates. | ||
BNPP's access to and cost of funding could be adversely affected by a resurgence of the Euro-zone sovereign debt crisis, worsening economic conditions, further rating downgrades or other factors. | ||
A substantial increase in new provisions or a shortfall in the level of previously recorded provisions could adversely affect BNPP's results of operations and financial condition. | ||
BNPP may incur significant losses on its trading and investment activities due to |
21
Element | Title | |
market fluctuations and volatility. BNPP may generate lower revenues from brokerage and other commission and fee- based businesses during market downturns. Protracted market declines can reduce liquidity in the markets, making it harder to sell assets and possibly leading to material losses. Significant interest rate changes could adversely affect BNPP's revenues or profitability. The soundness and conduct of other financial institutions and market participants could adversely affect BNPP. BNPP's competitive position could be harmed if its reputation is damaged. An interruption in or a breach of BNPP's information systems may result in lost business and other losses. Unforeseen external events can interrupt BNPP's operations and cause substantial losses and additional costs. BNPP is subject to extensive and evolving regulatory regimes in the countries and regions in which it operates. Notwithstanding BNPP's risk management policies, procedures and methods, it could still be exposed to unidentified or unanticipated risks, which could lead to material losses. BNPP's hedging strategies may not prevent losses. BNPP may experience difficulties integrating acquired companies and may be unable to realise the benefits expected from its acquisitions. Intense competition, especially in France where it has the largest single concentration of its businesses, could adversely affect BNPP's revenues and profitability. The following risk factors relate to BNPP B.V.: BNPP B.V. is an operating company. BNPP B.V.'s sole business is the raising and borrowing of money by issuing securities such as Notes, Warrants or Certificates or other obligations. BNPP B.V. has, and will have, no assets other than hedging agreements (OTC contracts mentioned in the Annual Reports), cash and fees payable to it, or other assets acquired by it, in each case in connection with the issue of securities or entry into other obligations related thereto from time to time. The net proceeds from each issue of Securities issued by the Issuer will become part of the general funds of BNPP B.V. BNPP B.V. uses such proceeds to maintain positions in options or futures contracts or other hedging instruments ("Hedging Agreements") and/or, in the case of Secured Securities, to acquire Collateral Assets. The ability of BNPP B.V. to meet its obligations under Securities issued by it will depend on the receipt by it of payments under the relevant Hedging Agreements. Consequently, Holders of BNPP |
Element | Title | |
B.V. Securities will, subject to the provisions of the relevant Guarantee, be exposed to the ability of counterparties in respect of such Hedging Agreements to perform their obligations under such Hedging Agreements. Securities sold in the United States or to U.S. Persons may be subject to transfer restrictions. | ||
D.3 | Key risks regarding the Securities | There are certain factors which are material for the purposes of assessing the market risks associated with Securities issued under the Programme, including that Securities are unsecured obligations; the trading price of the Securities is affected by a number of factors including, but not limited to, the price of the relevant Underlying Reference; time to redemption and volatility and such factors mean that the trading price of the Securities may be below the Cash Settlement Amount; exposure to the Underlying Reference in many cases will be achieved by the relevant Issuer entering into hedging arrangements and potential investors are exposed to the performance of these hedging arrangements and events that may affect the hedging arrangements and consequently the occurrence of any of these events may affect the value of the Securities, the occurrence of an additional disruption event or optional additional disruption event may lead to an adjustment to the Securities, early redemption or may result in the amount payable on scheduled redemption being different from the amount expected to be paid at scheduled redemption and consequently the occurrence of an additional disruption event and/or optional additional disruption event may have an adverse effect on the value or liquidity of the Securities; expenses and taxation may be payable in respect of the Securities; the Securities may be redeemed in the case of illegality or impracticability and such cancellation or redemption may result in an investor not realising a return on an investment in the Securities; the meetings of Holders provisions permit defined majorities to bind all Holders; any judicial decision or change to an administrative practice or change to English law after the date of the Base Prospectus could materially adversely impact the value of any Securities affected by it; a reduction in the rating, if any, accorded to outstanding debt securities of the Issuer or Guarantor by a credit rating agency could result in a reduction in the trading value of the Securities; certain conflicts of interest may arise (see Element E.4 below); the only means through which a Holder can realise value from the Security prior to its Redemption Date is to sell it at its then market price in an available secondary market and that there may be no secondary market for the Securities (which could mean that an investor has to wait until redemption of the Securities to realise a greater value than its trading value) |
Element | Title | |
an active secondary market may never be established or may be illiquid and this may adversely affect the value at which an investor may sell its Securities (investors may suffer a partial or total loss of the amount of their investment). In addition, there are specific risks in relation to Securities which are linked to an Underlying Reference (including Hybrid Securities) and an investment in such Securities will entail significant risks not associated with an investment in a conventional debt security. Risk factors in relation to Underlying Reference linked Securities include: exposure to one or more index, adjustment events and market disruption or failure to open of an exchange which may have an adverse effect on the value and liquidity of the Securities, and that the Issuer will not provide post-issuance information in relation to the Underlying Reference. In certain circumstances Holders may lose the entire value of their investment | ||
D.6 | Risk warning | See Element D.3 above. In the event of the insolvency of the Issuer or if it is otherwise unable or unwilling to repay the Securities when repayment falls due, an investor may lose all or part of his investment in the Securities. If the Guarantor is unable or unwilling to meet its obligations under the Guarantee when due, an investor may lose all or part of his investment in the Securities. In addition, investors may lose all or part of their investment in the Securities as a result of the terms and conditions of the Securities. |
Section E - Offer
Element | Title | |
E.2b | Reasons for the offer and use of proceeds | The net proceeds from the issue of the Securities will become part of the general funds of the Issuer. Such proceeds may be used to maintain positions in options or futures contracts or other hedging instruments |
E.3 | Terms and conditions of the offer | This issue of Securities is being offered in a Non-Exempt Offer in Italy. The issue price of the Securities is as set out in table Element C20. |
E.4 | Interest of natural and legal persons involved in the issue/offer | Other than as mentioned above, no person involved in the issue of the Securities has an interest material to the offer, including conflicting interests. |
E.7 | Expenses charged to the investor by the Issuer or an offeror | No expenses are being charged to an investor by the Issuer. |
NOTA DI SINTESI SPECIFICA PER LA SINGOLA EMISSIONE
Le note di sintesi sono composte dagli elementi informativi richiesti dalla normativa applicabile noti come "Elementi". Detti Elementi sono numerati nelle sottostanti Sezioni da A ad E (A.1 - E.7). La presente Nota di Sintesi contiene tutti gli Elementi che devono essere inclusi in una nota di sintesi per questo tipo di Titoli, di Emittente e di Garante. Dal momento che taluni Elementi potrebbero non essere richiesti per questa specifica Nota di Sintesi, potrebbero esserci delle mancanze e/o dei salti nella sequenza numerica degli Elementi. Anche se un Elemento potrebbe essere inserito nella Nota di Sintesi in base al tipo di Titoli, di Emittente e di Garante, è possibile che non vi siano informazioni pertinenti da fornire in relazione a detto Elemento. In tal caso, sarà inserita un breve descrizione dell'Elemento in questione unitamente alla specificazione "Non Applicabile".
Sezione A - Introduzione e avvertenze
Elemento | Titolo | |
A.1 | Avvertenza che la nota di sintesi va letta come un'introduzione, e disposizione in merito ai ricorsi | • La presente Nota di Sintesi dovrebbe essere letta quale introduzione del Prospetto di Base e delle Condizioni Definitive. Nella presente Nota di sintesi, salvo ove diversamente specificato e fatto salvo quanto previsto al primo paragrafo dell’Elemento D.3, “Prospetto di Base” indica il Prospetto di Base di BNPP B.V., BNPP, BP2F, BNPPF e BGL datato 3 giugno 2013 e successive modifiche. Nel primo paragrafo dell’Elemento D.3, “Prospetto di Base” indica il Prospetto di Base di BNPP B.V., BNPP, BP2F, BNPPF e BGL datato 2013. |
• Qualsiasi decisione di investire nei Xxxxxx dovrebbe basarsi sull’esame del presente Prospetto di Base completo, inclusi ogni eventuale documento incorporato mediante riferimento e le Condizioni Definitive. | ||
• Qualora sia presentato un ricorso dinanzi all'autorità giudiziaria di uno Stato Membro dello Spazio Economico Europeo in merito alle informazioni contenute nel Prospetto di Base e nelle Condizioni Definitive, l’investitore ricorrente potrebbe essere tenuto, a norma del diritto nazionale dello Stato Membro in cui è presentato il ricorso, a sostenere le spese di traduzione del Prospetto di Base e delle Condizioni Definitive prima dell’inizio del procedimento legale. | ||
• Non sarà attribuita alcuna responsabilità civile all’Emittente o all’eventuale Garante in tale Stato Membro esclusivamente sulla base della presente nota di sintesi, inclusa ogni traduzione della stessa, a meno che essa sia fuorviante, imprecisa o incoerente se letta congiuntamente alle altre parti del presente Prospetto di Base e delle Condizioni Definitive o, a seguito dell’attuazione delle relative disposizioni della Direttiva 2010/73/UE nello Stato Membro del caso, non offra, se letta insieme alle altre parti del Prospetto di Base e delle Condizioni Definitive, le informazioni fondamentali (come definite |
Elemento | Titolo | |
nell’Articolo 2.1(s) della Direttiva Prospetti) per aiutare gli investitori al momento di valutare l'opportunità di investire in tali Xxxxxx. | ||
A.2 | Consenso all’utilizzo del Prospetto di Base, periodo di validità e altre condizioni correlate | Consenso: Fatte salve le condizioni indicate nel prosieguo, l’Emittente consente l’utilizzo del Prospetto di Base in relazione a un’Offerta Non Esente di Xxxxxx da parte di Manager e BNP Paribas (e, congiuntamente ad ogni altro soggetto cui sarà conferito l'incarico di collocatore con riferimento ai Xxxxxx durante il Periodo di Offerta, i "Collocatori Autorizzati"). Periodo di offerta: il consenso dell’Emittente è concesso per Offerte Non Esenti di Titoli durante il periodo che va dalla Data di Emissione fino alla data in cui i titoli saranno delistati (il "Periodo di Offerta"). |
Condizioni del consenso: Le condizioni del consenso dell’Emittente (oltre alle condizioni di cui sopra) sono che tale consenso (a) sia valido soltanto durante il Periodo di Offerta indicato nelle Condizioni Definitive; (b) si estenda soltanto all’utilizzo del Prospetto di Base per effettuare Offerte Non Esenti della relativa Tranche di Titoli in Italia. | ||
UN INVESTITORE CHE INTENDA ACQUISTARE O CHE ACQUISTI TITOLI IN UN’OFFERTA NON ESENTE DA UN COLLOCATORE AUTORIZZATO LO FARÀ, E LE OFFERTE E VENDITE DI TALI TITOLI A UN INVESTITORE DA PARTE DI TALE COLLOCATORE AUTORIZZATO SARANNO EFFETTUATE, IN CONFORMITÀ A TUTTI I TERMINI E ALTRI ACCORDI IN ESSERE TRA TALE COLLOCATORE AUTORIZZATO E IL PREDETTO INVESTITORE, INCLUSO QUANTO CONCERNE XXXXXX, RIPARTO E ACCORDI DI REGOLAMENTO. L’INVESTITORE DEVE RIVOLGERSI AL COLLOCATORE AUTORIZZATO AL MOMENTO DI TALE OFFERTA PER OTTENERE TALI INFORMAZIONI E IL COLLOCATORE AUTORIZZATO SARÀ RESPONSABILE DI TALI INFORMAZIONI. |
Sezione B - Emittenti e Garanti
Elemento | Titolo | |
B.1 | Denominazione legale e commerciale dell’Emittente | BNP Paribas Arbitrage Issuance B.V. (“BNPP B.V.” o l'"Emittente"). |
B.2 | Domicilio/ forma giuridica/ legislazione/ paese di | L'Emittente è stato costituito in Olanda nella forma di una società a responsabilità limitata ai sensi della legge olandese, con sede legale a Xxxxxxxxxxx 000, 0000 XX Xxxxxxxxx, Xxxxxx. |
costituzione | |||||
B.4b | Informazioni sulle tendenze | Non applicabile: non vi sono tendenze, incertezze, richieste, impegni o fatti noti che potrebbero ragionevolmente avere un effetto significativo su BNPP B.V. e sui settori di attività in cui esso opera, almeno per l’esercizio fiscale in corso. | |||
B.5 | Descrizione del Gruppo | BNPP B.V. è una controllata al 100% di BNP Paribas. BNP Paribas è la società holding di un gruppo di società e gestisce le operazioni finanziarie di tali controllate (congiuntamente, il "Gruppo BNPP"). | |||
B.9 | Previsione o stima degli utili | Non applicabile, l'Emittente non ha effettuato alcuna previsione o stima degli utili. | |||
B.10 | Riserve nella relazione dei revisori | Non applicabile, non vi sono riserve in alcuna relazione dei revisori sulle informazioni finanziarie relative agli esercizi passati incluse nel Prospetto di Base. | |||
B.12 | Informazioni finanziarie fondamentali selezionate relative agli esercizi passati: Dati Finanziari Annuali Comparativi - In EUR | ||||
31/12/2011 | 31/12/2012 | ||||
Ricavi | 317.178 | 337.955 | |||
Reddito netto, quota del Gruppo | 21.233 | 22.531 | |||
Totale bilancio | 00.000.000.000 | 00.000.000.000 | |||
Patrimonio netto (quota del Gruppo) | 366.883 | 389.414 | |||
Dati Finanziari Infrannuali Comparativi – In EUR | |||||
30/06/2012 | 30/06/2013 | ||||
Ricavi | 180.590 | 149.051 | |||
Reddito netto, quota del Gruppo | 11.989 | 9.831 | |||
Totale bilancio | 00.000.000.000 | 00.000.000.000 | |||
Patrimonio netto (quota del Gruppo) | 378.872 | 399.245 | |||
Dichiarazioni di cambiamenti significativi o negativi sostanziali Non si è verificato alcun cambiamento significativo nella posizione finanziaria o commerciale del Gruppo BNPP dal 30 settembre 2013 e non si sono verificati cambiamenti negativi sostanziali nelle prospettive di BNPP o del Gruppo BNPP dal 31 dicembre 2012. Non si sono verificati cambiamenti significativi nella posizione finanziaria o commerciale del BNPP B.V. dal 30 giugno 2013 e non si sono verificati cambiamenti negativi sostanziali nelle prospettive del BNPP B.V. dal 31 dicembre 2012. | ||
B.13 | Eventi aventi un impatto sulla solvibilità dell’Emittente | Non applicabile, in quanto alla data del presente Prospetto di Base e per quanto a conoscenza degli Emittenti non si sono verificati eventi recenti sostanzialmente rilevanti per la valutazione della solvibilità di alcuno degli Emittenti dal 31 dicembre 2012. |
B.14 | Dipendenza da altri soggetti del Gruppo | L'Emittente dipende da BNPP e da altri soggetti del Gruppo BNPP. Si veda anche l'Elemento B.5 che precede. |
B.15 | Principali attività | L’attività principale dell'Emittente consiste nell’emettere e/o acquisire strumenti finanziari di qualsiasi natura e nello stipulare contratti correlati per conto di vari enti nell’ambito del Gruppo BNPP. |
B.16 | Azionisti di controllo | BNP Paribas detiene il 100% del capitale sociale di BNPP B.V. |
B.17 | Rating | Il rating del credito a lungo termine di BNPP B.V. è A+ con outlook negativo (Standard & Poor’s Credit Market Services France SAS) e il rating del credito a breve termine di BNPP B.V. è A-1 (Standard & Poor's Credit Market Services France SAS). Xx Xxxxxx non è stato assegnato alcun giudizio di rating. Il rating di un titolo non costituisce una raccomandazione ad acquistare, vendere o detenere titoli, e può essere soggetto a sospensione, riduzione o ritiro in qualsiasi momento da parte dell’agenzia di rating che l’ha assegnato. |
B.18 | Descrizione della Garanzia | I Xxxxxx emessi saranno garantiti incondizionatamente e irrevocabilmente da BNP Paribas ("BNPP" o il "Garante") ai sensi di un atto di garanzia di diritto inglese stipulato da BNPP in data 3 giugno 2013 (la "Garanzia"). Le obbligazioni ai sensi della garanzia costituiscono obbligazioni dirette, incondizionate, non garantite e non subordinate di BNPP e hanno e avranno pari priorità tra esse e almeno pari priorità rispetto a ogni altro indebitamento diretto, incondizionato, non garantito e non subordinato di BNPP (salvo per debiti privilegiati per legge). |
B.19 | Informazioni sui Garanti | |
B.19/ B.1 | Denominazione legale e | BNP Paribas |
commerciale del Garante | ||
B.19/ B.2 | Domicilio/ forma giuridica / legislazione/ paese di costituzione | Il Garante è stato costituito nella forma di société anonyme("naamloze vennootschap”) ai sensi della legge francese e ha ottenuto l’autorizzazione a operare quale banca. La sede legale al 00, xxxxxxxxx xxx Xxxxxxxx – 00000 Xxxxxx, Xxxxxxx. |
B.19/ B.4b | Informazioni sulle tendenze | Condizioni macroeconomiche I risultati operativi di BNPP sono influenzati dal contesto macroeconomico e di mercato. Data la natura della sua attività, BNPP è particolarmente sensibile alle condizioni macroeconomiche e di mercato in Europa, che hanno subito turbative negli ultimi anni. Mentre la situazione economica globale è generalmente migliorata nel corso del 2012, le prospettive di crescita divergono per i paesi avanzati e in via di sviluppo nel 2013 e per il futuro. Nella Zona Euro, gli spread sovrani sono scesi nel 2012 da livelli storicamente alti, sebbene permanga un’incertezza quanto alla solvibilità di alcuni sovrani e alla misura in cui gli stati membri dell’UE sono disposti a fornire ulteriori finanziamenti. Legislazione e regolamenti applicabili alle istituzioni finanziarie BNPP è influenzata dalla legislazione e dai regolamenti applicabili alle istituzioni finanziarie globali, che stanno subendo modifiche significative sulla scia della crisi finanziaria globale. Nuove misure che sono state proposte e adottate includono requisiti patrimoniali e di liquidità più severi, imposte sulle operazioni finanziarie, restrizioni e tasse sulla remunerazione dei dipendenti, limiti alle attività bancarie commerciali, restrizioni sui tipi di prodotti finanziari, un aumento dei requisiti di trasparenza e di controllo interno, regole di condotta commerciale più severe, rendicontazione e autorizzazione di operazioni su derivati obbligatorie, requisiti di limitazione dei rischi relativi ai derivati fuori Borsa e la costituzione di nuovi e più solidi organi di regolamentazione. Nuove misure o proposte che hanno o che avranno un effetto su BNPP includono i quadri normativi prudenziali di Basilea 3 e CRD4, i requisiti correlati annunciati dall’Autorità Bancaria Europea, la designazione di BNPP quale istituzione finanziaria sistemicamente importante da parte dell’FSB, la legge bancaria francese, la proposta UE in seguito alla relazione Liikanen e la proposta di quadro normativo della Riserva Federale per la regolamentazione delle banche straniere. |
B.19/B.5 | Descrizione del Gruppo | BNPP è un leader europeo nei servizi bancari e finanziari e ha quattro mercati bancari retail nazionali in Europa: Belgio, Francia, Italia e Lussemburgo. È presente in 78 paesi e dispone di quasi 190.000 dipendenti, inclusi oltre 145.000 in Europa. BNPP è la controllante del Gruppo BNP Paribas (il “Gruppo BNPP”) |
B.19/B.9 | Previsione o | Non applicabile, il Garante non ha effettuato alcuna previsione o stima degli |
stima degli utili | utili. | ||
B.19/ B.10 | Riserve nella relazione dei revisori | Non applicabile, non vi sono riserve in alcuna relazione dei revisori sulle informazioni finanziarie relative agli esercizi passati incluse nel Prospetto di Base. | |
B.19/ B.12 | Informazioni finanziarie fondamentali selezionate relative agli esercizi passati: Dati Finanziari Annuali Comparativi - In milioni di EUR | ||
31/12/2011 | 31/12/2012 | ||
Ricavi | 42.384 | 39.072 | |
Costo del rischio | (6.797) | (3.941) | |
Reddito netto, quota del Gruppo | 6.050 | 6.553 | |
Common Equity Tier 1 Ratio (Basilea 2,5) | 9,6% | 11,8% | |
Tier 1 Ratio | 11,6% | 13,6% | |
Totale bilancio consolidato | 1.965.283 | 1.907.290 | |
Crediti verso clienti e finanziamenti consolidati | 665.834 | 630.520 | |
Voci consolidate di debito verso clienti | 546.284 | 539.513 | |
Patrimonio netto (quota del Gruppo) | 75.370 | 85.886 | |
Dati Finanziari Infrannuali Comparativi per il semestre terminato il 30 giugno 2013 - In milioni di EUR | ||
30/06/2012 | 30/06/2013 | |
Ricavi | 19.984 | 19.972 |
Costo del rischio | (1.798) | (2.087) |
Reddito netto, quota del Gruppo | 4.719 | 3.347 |
Common Equity Tier 1 Ratio (Basilea 2,5) | 10,9% | 12,2% |
Tier 1 Ratio | 12,7% | 13,6% |
Totale bilancio consolidato | 1.969.943 | 1,861.338 |
Crediti verso clienti e finanziamenti consolidati | 657.441 | 623.587 |
Voci consolidate di debito verso clienti | 535.359 | 554.198 |
Patrimonio netto (quota del Gruppo) | 81.721 | 86.136 |
Dati Finanziari Infrannuali Comparativi per il periodo di tre mesi terminato il 30 settembre 2013- In milioni di EUR | ||
30/09/2012 | 30/09/2013 | |
Ricavi | 9.693 | 9.287 |
Costo del rischio | (944) | (892) |
Reddito netto, quota del Gruppo | 1.326 | 1.358 |
31/12/2012 | 30/09/2013 | |
Common Equity Tier 1 Ratio (Basilea 2,5) | 11,8% | 12,6% |
Tier 1 Ratio | 13,6% | 13,8% |
Totale bilancio consolidato | 1.907.200 | 1.855.621 |
Crediti verso clienti e finanziamenti consolidati | 630.520 | 610.987 |
Voci consolidate di debito verso clienti | 539.513 | 552.547 |
Patrimonio netto (quota del Gruppo) | 85.444 | 86.644 |
Dichiarazioni di assenza di cambiamenti significativi o negativi sostanziali Si veda l'Elemento B.12 che precede nel caso del Gruppo BNPP. Non si sono verificati cambiamenti negativi sostanziali nelle prospettive di BNPP dal 31 dicembre 2012. | ||
B.19/ B.13 | Eventi aventi un impatto sulla solvibilità del Garante | Non applicabile, per quanto a conoscenza del Garante non si sono verificati eventi sostanzialmente rilevanti per la valutazione della solvibilità del Garante dal 31 dicembre 2012. |
B.19/ B.14 | Dipendenza da altri soggetti del Gruppo | Salvo quanto previsto dal seguente paragrafo, BNPP non è dipendente da altri membri del Gruppo BNPP. Nell’aprile 2004, BNPP ha iniziato l’esternalizzazione dei Servizi di Gestione delle Infrastrutture IT all’associazione in partecipazione “BNP |
Paribas Partners for Innovation” (BP²I) costituita con IBM France alla fine del 2003. BP²I fornisce Servizi di Gestione delle Infrastrutture IT a BNPP e a varie controllate di BNPP in Francia, Svizzera e Italia. A metà dicembre 2011, BNPP ha rinnovato il suo contratto con IBM France fino alla fine del 2017. Alla fine del 2012, le parti hanno stipulato un contratto per estendere progressivamente questo accordo a BNP Paribas Fortis a partire dal 2013. BP²I è controllata al 50% da BNPP e al 50% da IBM France; IBM France è responsabile delle operazioni quotidiane, con un forte impegno di BNPP quale importante azionista. Si veda anche l'Elemento B.5 che precede. | ||
B.19/ B.15 | Principali attività | BNP Paribas detiene posizioni importanti nelle sue tre attività: • Retail Banking, che comprende: • una serie di Mercati Nazionali, inclusi: • French Retail Banking (FRB), • BNL banca commerciale (BNL bc), l’attività bancaria retail italiana, • Belgian Retail Banking (BRB), • Attività di Altri Mercati Nazionali, tra cui Luxembourg Retail Banking (LRB); • International Retail Banking, che include: • Europe-Mediterranean, • BancWest; • Personal Finance; • Investment Solutions; • Corporate and Investment Banking (CIB). |
B.19/ B.16 | Azionisti di controllo | Nessuno degli azionisti esistenti controlla, direttamente o indirettamente, BNPP. Gli azionisti principali sono Société Fédérale de Participations et d’Investissement (SFPI), una società per azioni di interesse pubblico che agisce per conto del Governo belga, che detiene il 10,3% del capitale sociale al 30 giugno 2013; AXA, che detiene il 2,9% del capitale sociale al 30 giugno 2013, e il Granducato di Lussemburgo, che detiene l’1,0% del capitale sociale al 30 giugno 2013. Per quanto a conoscenza di BNPP, nessun azionista diverso da SFPI detiene più del 5% del suo capitale o dei suoi diritti di voto. |
B.19/ B.17 | Rating | I rating del credito a lungo termine di BNPP sono A+ con outlook negativo |
(Standard & Poor's Credit Market Services France SAS), A2 con outlook stabile (Moody's Investors Service Ltd.) e A+ con outlook stabile (Fitch France S.A.S.) Il rating di un titolo non costituisce una raccomandazione ad acquistare, vendere o detenere titoli, e può essere soggetto a sospensione, riduzione o ritiro in qualsiasi momento da parte dell’agenzia di rating che l’ha assegnato. |
Sezione C – Titoli
Elemento | Titolo | |
C.1 | Tipo e classe di Xxxxxx/ISIN | I Xxxxxx sono certificates (i“Certificates”) e sono emessi in Serie. Il Numero di Serie dei Titoli è come indicato in C.20. Il codice ISIN è come indicato in C.20. Il Common Code è come indicato in C.20. Il Trading Code di Borsa Italiana è come indicato in C.20 I Titoli sono Titoli Regolati in Contanti. |
C.2 | Valuta | La valuta della presente Serie di Titoli è l'Euro (EURO). |
C.5 | Restrizioni alla libera trasferibilità | I Titoli saranno liberamente trasferibili, fatte salve le restrizioni all’offerta e alla vendita negli Stati Uniti, nello Spazio Economico Europeo, in Austria, in Belgio, nella Repubblica Ceca, in Francia, in Germania,in Ungheria, in Irlanda, in Portogallo, in Spagna, in Svezia, nella Repubblica italiana, nei Paesi Bassi, in Polonia, nel Regno Unito, in Giappone e in Australia e ai sensi della Direttiva sui Prospetti e delle leggi di ogni giurisdizione in cui i relativi Titoli sono offerti o venduti. |
C.8 | Diritti connessi ai Titoli | I Xxxxxx emessi ai sensi del Programma avranno termini e condizioni relativi, tra l’altro, a: Status I Titoli sono emessi su base non garantita. I Titoli emessi su base non garantita costituiscono obbligazioni dirette, incondizionate, non garantite e non subordinate dell’Emittente e hanno e avranno pari priorità tra esse e almeno pari priorità rispetto a ogni altro debito diretto, incondizionato, non garantito e non subordinato dell’Emittente (salvo per debiti privilegiati per legge). |
Tassazione Il Portatore deve pagare tutte le tasse, imposte e/o spese derivanti dall’esercizio e dal regolamento o rimborso dei Titoli W&C e/o dalla consegna o dalla cessione del Diritto Spettante. L’Emittente detrarrà dagli importi pagabili o dai beni consegnabili ai Portatori le tasse e spese non previamente detratte da importi pagati o da beni consegnati ai Portatori che l’Agente per il Calcolo determini essere attribuibili ai Titoli W&C. | ||
Divieto di costituzione di garanzie reali (negative pledge) |
Elemento | Titolo | |
I termini dei Titoli non conterranno alcuna clausola di divieto di costituzione di garanzie reali. | ||
Eventi di Inadempimento I termini dei Titoli non conterranno eventi di inadempimento. | ||
Assemblee I termini dei Titoli conterranno disposizioni per la convocazione di assemblee dei portatori di tali Xxxxxx per valutare questioni aventi un impatto sui loro interessi in generale. Tali disposizioni consentono a maggioranze definite di vincolare tutti i portatori, inclusi i portatori che non abbiano partecipato e votato all’assemblea del caso e i titolari che abbiano votato in maniera contraria alla maggioranza. | ||
Legge applicabile I Titoli W&C, l'Accordo di Agenzia di diritto inglese (e sue successive modifiche e integrazioni), la Garanzia correlata in relazione ai Titoli W&C e ogni obbligazione non contrattuale derivante da o in relazione ai Xxxxxx W&C, l'Accordo di Agenzia di diritto inglese (e sue successive modifiche e integrazioni) e la Garanzia in relazione ai Titoli W&C saranno disciplinati dalla legge inglese e dovranno essere interpretati alla stregua della stessa. | ||
C.9 | Interessi/ Rimborso | Interessi I Titoli non maturano e non pagano interessi, né importi premio. Liquidazione A meno che sia già stato liquidato o annullato, ciascun Titolo sarà liquidato come indicato nell’Elemento C.18. I Certificates possono essere liquidati anticipatamente al verificarsi di un Evento di Turbativa Aggiuntivo, un Evento di Turbativa Aggiuntivo Opzionale, un Evento Straordinario, un Evento di Rettifica Potenziale o se l'adempimento delle obbligazioni dell'Emittente ai sensi dei Titoli diventa contraria alla legge o impossibile per motivi di forza maggiore o per legge. L'importo pagabile ai sensi dei Titoli in caso di liquidazione anticipata sarà pari al valore di mercato di ciascun Titolo meno i costi di copertura. Rappresentante dei Portatori dei Titoli L’Emittente non ha nominato alcun Rappresentante dei Portatori dei Titoli. Si veda anche l'Elemento C.8 che precede per quanto riguarda i diritti connessi ai Titoli. |
C.10 | Componente | Non applicabile. |
Elemento | Titolo | |
derivata per quanto riguarda il pagamento degli interessi | ||
C.11 | Ammissione alla negoziazione | Sarà presentata dall’Emittente (o per conto dello stesso) una richiesta di quotazione per i Titoli presso Borsa Italiana e per l'ammissione dei Titoli alla negoziazione sul mercato telematico "Securitised Derivatives Market" (gestito da Borsa Italiana S.p.A.) |
C.15 | Come il valore dell'investiment o in titoli derivati è influenzato dal valore degli strumenti sottostanti | L’eventuale importo pagabile al momento del rimborso è calcolato con riferimento al Sottostante di Riferimento. Si veda l'Elemento C.9 che precede e l'Elemento C.18 che segue. |
C.16 | Scadenza dei titoli derivati | La Data di Esercizio dei Titoli è come indicato in C.20 e la Data di Liquidazione è come indicato in C.20 |
C.17 | Procedura di Regolamento | I Titoli sono regolati in contanti. L’Emittente non può modificare il regolamento. |
C.18 | Rendimento degli strumenti derivati | Si veda l’Elemento C.8 che precede per i diritti connessi ai Titoli. Regolamento I Certificates saranno esercitati automaticamente alla Data di esercizio. Al momento dell'esercizio automatico ogni Certificates dà diritto al Portatore di ricevere alla Data di Liquidazione un Importo di Liquidazione in Contanti pari al Payout Finale. Payout Finale ETS 2200/1: (i) Qualora nelle Condizioni Definitive applicabili si specifichi che i Titoli sono Titoli Call: Max (0; Prezzo di Regolamento Finale - Prezzo di Strike) . [Parità x Tasso di Cambio Finale] (i) Qualora nelle Condizioni Definitive applicabili si specifichi che i Titoli sono Titoli Put: Max (0; Prezzo di Strike - Prezzo di Regolamento Finale) .] [Parità x Tasso di Cambio Finale] Descrizione del Payout Il Payout sarà pari a (i) in caso di Titoli Call, l'eventuale eccesso tra il Prezzo di |
Elemento | Titolo | |
Regolamento alla Data di Valutazione e il Prezzo di Strike; o (ii) in caso di Titoli Put, l'eventuale eccesso tra il Prezzo di Strike e il Prezzo di Regolamento alla Data di Valutazione, in ciascun caso diviso per il prodotto tra il Tasso di Cambio e la Parità. "Prezzo di Liquidazione" significa [il prezzo di chiusura Ufficiale]/[il prezzo d’apertura Ufficiale]. "Prezzo Finale di Liquidazione" significa il Prezzo di Liquidazione alla Data di Valutazione. Data di Valutazione significa la Data di Esercizio "Prezzo di Strike"è come indicato in C.20 “Parità” è come indicato in C.20 “Tasso di Cambio Finale”significa 1 Liquidazione Anticipata Automatica Qualora a una Data di Valutazione della Liquidazione Anticipata Automatica si verifichi un Evento di Liquidazione Anticipata Automatica, i Titoli saranno liquidati anticipatamente all’Importo di Liquidazione Anticipata Automatica alla Data di Liquidazione Anticipata Automatica L’Importo di Liquidazione Anticipata Automatica sarà un importo pari a: Payout della Liquidazione Anticipata Automatica 2200/1: 0 (zero). "Evento di Liquidazione Anticipata Automatica" indica il verificarsi di un AER Knock-out. "AER Knock-out " indica il verificarsi di un Evento Knock-out. "Evento Knock-out": Con riferimento ai Titoli Call: Il Livello è "minore o uguale al" Livello Knock-out Con riferimento ai Titoli Put: Il Livello è "maggiore o uguale al" Livello Knock-out. "Livello" indica il livello Ufficiale "Livello Knock-out ": come indicato all'Elemento C.20 che segue. |
Elemento | Titolo | |
Le previsioni di cui sopra sono soggette a rettifiche come previsto nelle condizioni dei Titoli al fine di tenere in considerazione eventi in relazione al Sottostante di Riferimento o ai Titoli. Questo può comportare modifiche da apportare ai Titoli o in alcuni casi alla liquidazione anticipata dei Titoli ad un importo di liquidazione anticipata (si veda l'Elemento C.9). | ||
C.19 | Prezzo di riferimento finale del Sottostante | Il prezzo di riferimento finale del sottostante sarà determinato in conformità ai meccanismi di valutazione indicati nell’Elemento C.9 e nell’Elemento C.18 che precede. |
C.20 | Sottostante di Riferimento | Il Sottostante di Riferimento indicato nell’Elemento C.18 che precede. Informazioni sul Sottostante di Riferimento si possono ottenere dalle fonti indicate nella tabella che segue. |
Numero di Serie/Codice ISIN | No. di Titoli emessi | No. di Titoli | Codice Common | Trading Code di Borsa Italiana | Prezzo di Emisisone per Titolo | Call/Put | Prezzo di Strike | Livello Knock-out | Data di Esercizio | Futures or Options Exchange | Data di Esercizio | Data di Liquidazione | Parità | Multiplier* |
NL0010581088 | 1000000 | 1000000 | 98463909 | P81088 | 11.2000 | Call | EUR 7,600 | EUR 7,600 | December 2013 | EUREX | 18 Dec 13 | 30 Dec 13 | 100 | 0.01 |
NL0010581096 | 50000000 | 50000000 | 98463933 | P81096 | 0.2600 | Put | EUR 19,800 | EUR 19,800 | December 2013 | IDEM (Italian Derivatives Market) | 20 Dec 13 | 30 Dec 13 | 10,000 | 0.0001 |
NL0010581104 | 50000000 | 50000000 | 98463950 | P81104 | 0.3600 | Put | EUR 20,800 | EUR 20,800 | December 2013 | IDEM (Italian Derivatives Market) | 20 Dec 13 | 30 Dec 13 | 10,000 | 0.0001 |
NL0010581112 | 50000000 | 50000000 | 98463976 | P81112 | 0.4500 | Put | EUR 21,700 | EUR 21,700 | December 2013 | IDEM (Italian Derivatives Market) | 20 Dec 13 | 30 Dec 13 | 10,000 | 0.0001 |
NL0010581120 | 50000000 | 50000000 | 98463992 | P81120 | 0.5500 | Put | EUR 22,700 | EUR 22,700 | December 2013 | IDEM (Italian Derivatives Market) | 20 Dec 13 | 30 Dec 13 | 10,000 | 0.0001 |
NL0010581138 | 1000000 | 1000000 | 98464018 | P81138 | 3.8000 | Put | EUR 9,100 | EUR 9,100 | December 2013 | EUREX | 18 Dec 13 | 30 Dec 13 | 100 | 0.01 |
NL0010581146 | 1000000 | 1000000 | 98464034 | P81146 | 7.8000 | Put | EUR 9,500 | EUR 9,500 | December 2013 | EUREX | 18 Dec 13 | 30 Dec 13 | 100 | 0.01 |
NL0010581153 | 1000000 | 1000000 | 98464069 | P81153 | 12.8000 | Put | EUR 10,000 | EUR 10,000 | December 2013 | EUREX | 18 Dec 13 | 30 Dec 13 | 100 | 0.01 |
NL0010581161 | 1000000 | 1000000 | 98464085 | P81161 | 16.8000 | Put | EUR 10,400 | EUR 10,400 | December 2013 | EUREX | 18 Dec 13 | 30 Dec 13 | 100 | 0.01 |
NL0010400008 | 50000000 | 50000000 | 00000000 | P00008 | 0.0100 | Call | EUR 24,500 | EUR 24,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400016 | 50000000 | 50000000 | 00000000 | P00016 | 0.0100 | Call | EUR 22,500 | EUR 22,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400024 | 50000000 | 50000000 | 00000000 | P00024 | 0.0100 | Call | EUR 21,000 | EUR 21,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400032 | 50000000 | 50000000 | 00000000 | P00032 | 0.0100 | Call | EUR 20,500 | EUR 20,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400040 | 50000000 | 50000000 | 00000000 | P00040 | 0.0100 | Call | EUR 20,000 | EUR 20,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400057 | 50000000 | 50000000 | 00000000 | P00057 | 0.0100 | Call | EUR 19,500 | EUR 19,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400065 | 50000000 | 50000000 | 00000000 | P00065 | 0.0100 | Call | EUR 18,500 | EUR 18,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400073 | 50000000 | 50000000 | 00000000 | P00073 | 0.0980 | Call | EUR 18,000 | EUR 18,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400081 | 50000000 | 50000000 | 00000000 | P00081 | 0.1380 | Call | EUR 17,500 | EUR 17,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
14
Numero di Serie/Codice ISIN | No. di Titoli emessi | No. di Titoli | Codice Common | Trading Code di Borsa Italiana | Prezzo di Emisisone per Titolo | Call/Put | Prezzo di Strike | Livello Knock-out | Data di Esercizio | Futures or Options Exchange | Data di Esercizio | Data di Liquidazione | Parità | Multiplier* |
NL0010400099 | 50000000 | 50000000 | 00000000 | P00099 | 0.1880 | Call | EUR 17,000 | EUR 17,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400107 | 50000000 | 50000000 | 00000000 | P00107 | 0.2880 | Call | EUR 16,000 | EUR 16,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400115 | 50000000 | 50000000 | 00000000 | P00115 | 0.3780 | Call | EUR 15,000 | EUR 15,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400123 | 50000000 | 50000000 | 00000000 | P00123 | 0.5680 | Call | EUR 13,500 | EUR 13,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400131 | 1000000 | 1000000 | 00000000 | P00131 | 0.0100 | Call | EUR 11,300 | EUR 11,300 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400149 | 1000000 | 1000000 | 00000000 | P00149 | 0.0100 | Call | EUR 10,500 | EUR 10,500 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400156 | 1000000 | 1000000 | 00000000 | P00156 | 0.0100 | Call | EUR 10,000 | EUR 10,000 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400164 | 1000000 | 1000000 | 00000000 | P00164 | 0.0100 | Call | EUR 9,600 | EUR 9,600 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400172 | 1000000 | 1000000 | 00000000 | P00172 | 0.0100 | Call | EUR 9,400 | EUR 9,400 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400180 | 1000000 | 1000000 | 00000000 | P00180 | 0.0100 | Call | EUR 9,100 | EUR 9,100 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400198 | 1000000 | 1000000 | 00000000 | P00198 | 0.2000 | Call | EUR 8,700 | EUR 8,700 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400206 | 1000000 | 1000000 | 00000000 | P00206 | 4.2000 | Call | EUR 8,300 | EUR 8,300 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400214 | 1000000 | 1000000 | 00000000 | P00214 | 6.2000 | Call | EUR 8,100 | EUR 8,100 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400222 | 1000000 | 1000000 | 00000000 | P00222 | 9.2000 | Call | EUR 7,800 | EUR 7,800 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400230 | 1000000 | 1000000 | 98464476 | P00230 | 13.2000 | Call | EUR 7,400 | EUR 7,400 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400248 | 1000000 | 1000000 | 98464492 | P00248 | 17.2000 | Call | EUR 7,000 | EUR 7,000 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400255 | 1000000 | 1000000 | 98464506 | P00255 | 26.2000 | Call | EUR 6,100 | EUR 6,100 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400263 | 50000000 | 50000000 | 98464522 | P00263 | 0.0100 | Put | EUR 13,500 | EUR 13,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400271 | 50000000 | 50000000 | 98464549 | P00271 | 0.0100 | Put | EUR 15,000 | EUR 15,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400289 | 50000000 | 50000000 | 98464565 | P00289 | 0.0100 | Put | EUR 16,000 | EUR 16,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400297 | 50000000 | 50000000 | 98464573 | P00297 | 0.0100 | Put | EUR 17,000 | EUR 17,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400305 | 50000000 | 50000000 | 98464590 | P00305 | 0.0300 | Put | EUR 17,500 | EUR 17,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400313 | 50000000 | 50000000 | 98464603 | P00313 | 0.0700 | Put | EUR 18,000 | EUR 18,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
Numero di No. di Serie/Codice Titoli ISIN emessi | No. di Titoli | Codice Common | Trading Code di Borsa Italiana | Prezzo di Emisisone per Titolo | Call/Put | Prezzo di Strike | Livello Knock-out | Data di Esercizio | Futures or Options Exchange | Data di Esercizio | Data di Liquidazione | Parità | Multiplier* |
NL0010400321 50000000 | 50000000 | 98464620 | P00321 | 0.1700 | Put | EUR 18,500 | EUR 18,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400339 50000000 | 50000000 | 98464638 | P00339 | 0.2600 | Put | EUR 19,500 | EUR 19,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400347 50000000 | 50000000 | 98464654 | P00347 | 0.3100 | Put | EUR 20,000 | EUR 20,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400354 50000000 | 50000000 | 98464662 | P00354 | 0.3600 | Put | EUR 20,500 | EUR 20,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400362 50000000 | 50000000 | 98464697 | P00362 | 0.4500 | Put | EUR 21,000 | EUR 21,000 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400370 50000000 | 50000000 | 98464719 | P00370 | 0.5500 | Put | EUR 22,500 | EUR 22,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400388 50000000 | 50000000 | 98464735 | P00388 | 0.7300 | Put | EUR 24,500 | EUR 24,500 | March 2014 | IDEM (Italian Derivatives Market) | 21 Mar 14 | 31 Mar 14 | 10,000 | 0.0001 |
NL0010400396 1000000 | 1000000 | 98464743 | P00396 | 0.0100 | Put | EUR 6,100 | EUR 6,100 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400404 1000000 | 1000000 | 98464760 | P00404 | 0.0100 | Put | EUR 7,000 | EUR 7,000 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400412 1000000 NL0010400420 1000000 | 1000000 1000000 | 98464778 98464794 | P00412 P00420 | 0.0000 0.0000 | Put Put | EUR 7,400 EUR 7,800 | EUR 7,400 EUR 7,800 | March 2014 March 2014 | EUREX EUREX | 19 Mar 14 19 Mar 14 | 31 Mar 14 31 Mar 14 | 100 100 | 0.01 0.01 |
NL0010400438 1000000 | 1000000 | 98464808 | P00438 | 0.0100 | Put | EUR 8,100 | EUR 8,100 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400446 1000000 | 1000000 | 98464824 | P00446 | 0.0100 | Put | EUR 8,300 | EUR 8,300 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400453 1000000 | 1000000 | 98464832 | P00453 | 0.0100 | Put | EUR 8,700 | EUR 8,700 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400461 1000000 | 1000000 | 98464867 | P00461 | 3.8000 | Put | EUR 9,100 | EUR 9,100 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400479 1000000 | 1000000 | 98464875 | P00479 | 6.8000 | Put | EUR 9,400 | EUR 9,400 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400487 1000000 | 1000000 | 98464891 | P00487 | 8.8000 | Put | EUR 9,600 | EUR 9,600 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400495 1000000 | 1000000 | 98464905 | P00495 | 12.8000 | Put | EUR 10,000 | EUR 10,000 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400503 1000000 | 1000000 | 98464921 | P00503 | 17.8000 | Put | EUR 10,500 | EUR 10,500 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
NL0010400511 1000000 | 1000000 | 98464930 | P00511 | 25.8000 | Put | EUR 11,300 | EUR 11,300 | March 2014 | EUREX | 19 Mar 14 | 31 Mar 14 | 100 | 0.01 |
* Allo scopo di Borsa Italiana, Multiplier uguali a 1/ Parità
Numero di Serie | Indice | Codice ISIN dell’Indice | Codice Reuters dell’Indice | Sponsor dell’ Indice | Sito web dello Sponsor dell’ Indice Borsa | Borsa | Sito web della Borsa |
NL0010581088 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010581096 | FTSE MIB | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
NL0010581138 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010581146 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010581153 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010581161 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400008 | FTSE MIB | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
NL0010400032 NL0010400040 | FTSE MIB FTSE MIB | IT0003465736 IT0003465736 | .FTMIB .FTMIB | FTSE International Limited FTSE International Limited | Borsa Italiana (MTA) Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) |
Numero di Serie | Indice | Codice ISIN dell’Indice | Codice Reuters dell’Indice | Sponsor dell’ Indice | Sito web dello Sponsor dell’ Indice Borsa | Borsa | Sito web della Borsa |
NL0010400073 | FTSE MIB | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
NL0010400131 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400149 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400156 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400164 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400172 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400180 NL0010400198 | DAX DAX | DE0008469008 DE0008469008 | .GDAXI .GDAXI | Deutsche Boerse AG Deutsche Boerse AG | www.deutsche- xxxxxx.xxx www.deutsche- xxxxxx.xxx | Deutsche Börse AG Deutsche Börse AG | www.deutsche- xxxxxx.xxx www.deutsche- xxxxxx.xxx |
NL0010400206 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400214 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400222 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400230 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400248 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- | Deutsche Börse | www.deutsche- |
Numero di Serie | Indice | Codice ISIN dell’Indice | Codice Reuters dell’Indice | Sponsor dell’ Indice | Sito web dello Sponsor dell’ Indice Borsa | Borsa | Sito web della Borsa |
xxxxxx.xxx | AG | xxxxxx.xxx | |||||
NL0010400255 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400263 | FTSE MIB | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
NL0010400347 NL0010400354 | FTSE MIB FTSE MIB | IT0003465736 IT0003465736 | .FTMIB .FTMIB | FTSE International Limited FTSE International Limited | Borsa Italiana (MTA) Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
XX0000000000 | XXXX XXX | IT0003465736 | .FTMIB | FTSE International Limited | Borsa Italiana (MTA) | ||
NL0010400396 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400404 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400412 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400420 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- | Deutsche Börse | www.deutsche- |
Numero di Serie | Indice | Codice ISIN dell’Indice | Codice Reuters dell’Indice | Sponsor dell’ Indice | Sito web dello Sponsor dell’ Indice Borsa | Borsa | Sito web della Borsa |
xxxxxx.xxx | AG | xxxxxx.xxx | |||||
NL0010400438 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400446 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400453 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400461 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400479 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400487 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400495 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400503 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
NL0010400511 | DAX | DE0008469008 | .GDAXI | Deutsche Boerse AG | www.deutsche- xxxxxx.xxx | Deutsche Börse AG | www.deutsche- xxxxxx.xxx |
Sezione D - Rischi
Elemento | Titolo | |
D.2 | Rischi fondamentali relativi agli Emittenti e ai Garanti | Vi sono certi fattori che possono avere un impatto sulla capacità dell’Emittente di adempiere le proprie obbligazioni ai sensi dei Titoli emessi ai sensi del Programma e, se del caso, le obbligazioni del Garante ai sensi della Garanzia. Dodici categorie principali di rischio sono inerenti alle attività di BNPP: |
(a) Rischio di Credito; | ||
(b) Rischio di Controparte; | ||
(c) Cartolarizzazione; | ||
(d) Rischio di Mercato; | ||
(e) Rischio Operativo; | ||
(f) Rischio di Compliance e Rischio Reputazionale; | ||
(g) Rischio di Concentrazione; | ||
(h) Rischio di Gestione Patrimoniale; | ||
(i) Rischio di Break-even; | ||
(j) Rischio di Strategia; | ||
(k) Rischio di liquidità e di rifinanziamento; | ||
(l) Rischio di sottoscrizione di assicurazione; | ||
Le difficili condizioni di mercato ed economiche difficili potrebbero avere un effetto sostanzialmente pregiudizievole sul contesto operativo per le istituzioni finanziarie e quindi sulla situazione finanziaria, sui risultati operativi e sul costo del rischio di BNPP. | ||
Gli interventi legislativi e le misure di regolamentazione adottate in risposta alla crisi finanziaria globale potrebbero avere un impatto significativo su BNPP e sul contesto finanziario ed economico in cui opera. | ||
La possibilità di BNPP di accedere al, nonché il costo del, funding potrebbero risentire di un ritorno della crisi del debito sovrano della Zona Euro, del peggioramento delle condizioni economiche, di ulteriori riduzioni |
21
Elemento | Titolo | |
dei rating o di altri fattori. Un aumento sostanziale dei nuovi accantonamenti o un ammanco nel livello degli accantonamenti precedentemente registrati potrebbero avere un impatto negativo sui risultati operativi e sulla situazione finanziaria di BNPP. BNPP potrebbe subire perdite significative sulle sue attività di negoziazione e di investimento a causa di oscillazioni e della volatilità del mercato. BNPP potrebbe generare ricavi inferiori dalle sue attività di intermediazione e altre attività basate su commissioni e provvigioni durante periodi di crisi dei mercati. Il protrarsi della discesa dei mercati può ridurre la liquidità dei mercati, rendendo più difficile vendere attività e conducendo potenzialmente a perdite significative. Mutamenti significativi dei tassi d’interesse potrebbero avere un impatto negativo sui ricavi o sulla redditività di BNPP. La solidità e la condotta di altre istituzioni finanziarie e partecipanti del mercato potrebbero avere un impatto negativo su BNPP. La posizione competitiva di BNPP potrebbe essere pregiudicata qualora la reputazione di BNPP sia danneggiata. Una interruzione o violazione dei sistemi informativi di BNPP potrebbe avere come conseguenza una perdita di lavoro e altre perdite. Eventi esterni imprevisti possono interrompere le attività di BNPP e causare perdite significative e costi aggiuntivi. BNPP è soggetta a regimi di estesa regolamentazione in continua evoluzione nei paesi e nelle regioni in cui opera. Malgrado le politiche, procedure e modalità di gestione dei rischi di BNPP, la stessa potrebbe ancora essere esposta a rischi non identificati o imprevisti, che potrebbero causare perdite significative. Le strategie di copertura di BNPP potrebbero non impedire perdite. BNPP potrebbe incontrare difficoltà nell’integrare le società acquisite e potrebbe non essere in grado di realizzare i benefici attesi dalle sue acquisizioni. La forte concorrenza, particolarmente in Francia dove BNPP detiene la più grande concentrazione di attività, potrebbe avere un impatto negativo sui ricavi e sulla redditività di BNPP. I seguenti fattori di rischio riguardano BNPP B.V.: BNPP B.V. è una società operativa. L’unica attività di BNPP B.V. consiste nel raccogliere in prestito |
Elemento | Titolo | |
liquidità emettendo strumenti finanziari come Notes, Warrant, Certificates o altre obbligazioni. BNPP B.V. non ha e non avrà assets al di fuori degli accordi di copertura (contratti OTC menzionati negli Annual Reports), contanti e commissioni pagabili alla stessa, o altre attività acquisite dalla stessa, in ciascun caso in relazione all’emissione di titoli o alla assunzione di altre obbligazioni agli stessi relative di volta in volta. I proventi netti di ciascuna emissione di Titoli emessi dall’Emittente diventeranno parte dei fondi generali di BNPP B.V.. BNPP B.V. utilizza tali proventi per mantenere posizioni in contratti di opzione o futures o altri strumenti di copertura (“Accordi di Copertura”) e/o, nel caso di Xxxxxx Xxxxxxxxx, per acquistare Beni di Garanzia. La capacità di BNPP B.V. di adempiere le sue obbligazioni ai sensi dei Titoli emessi dalla stessa dipenderà dal ricevimento da parte della stessa di pagamenti ai sensi dei relativi Accordi di Copertura. Pertanto, i Portatori di Titoli di BNPP B.V. saranno esposti, fatte salve le disposizioni della relativa Garanzia, alla capacità delle controparti in relazione a tali Accordi di Copertura di adempiere le proprie obbligazioni ai sensi dei predetti accordi. | ||
D.3 | Rischi chiave relativi ai Xxxxxx | Esistono certi fattori che sono rilevanti ai fini della valutazione dei rischi di mercato associati ai Titoli emessi ai sensi del Programma; tra cui il fatto che i Xxxxxx sono obbligazioni non garantite; il prezzo di negoziazione dei Titoli è influenzato da vari fattori, tra cui, a mero titolo esemplificativo, il prezzo del relativo Sottostante di Riferimento; il tempo residuo alla liquidazione, e tali fattori implicano che il prezzo di negoziazione dei Titoli può essere inferiore all’Importo di Liquidazione in Contanti; l’esposizione al Sottostante di Riferimento in molti casi sarà realizzata tramite la stipula da parte del relativo Emittente di accordi di copertura e i potenziali investitori sono esposti all’andamento di questi accordi di copertura e ad eventi che possono avere un effetto sugli accordi di copertura e, di conseguenza, il verificarsi di uno di questi eventi può avere un effetto sul valore dei Titoli; il verificarsi di un ulteriore evento di turbativa o di un evento di turbativa ulteriore opzionale può portare a una rettifica dei Titoli, a una liquidazione anticipata o può avere come conseguenza una differenza tra l’importo pagabile al momento del rimborso programmato e l’importo che si prevede sia pagato al momento del rimborso programmato e, di conseguenza, il verificarsi di un evento di turbativa ulteriore e/o di un evento di turbativa ulteriore opzionale può avere un effetto pregiudizievole sul valore o sulla liquidità dei Titoli; potrebbero essere pagabili spese e tasse in relazione ai Titoli; i Xxxxxx potrebbero essere liquidati nel caso di illegalità o impossibilità, e tale annullamento o liquidazione potrebbe avere come conseguenza il fatto che |
Elemento | Titolo | |
un investitore non realizzi un ritorno su un investimento nei Titoli; le disposizioni sulle assemblee dei Portatori consentono a maggioranze definite di vincolare tutti i Portatori; una decisione giudiziaria o un mutamento di una prassi amministrativa o una modifica della legge inglese dopo la data del Prospetto di Base potrebbero avere un impatto sostanzialmente pregiudizievole sul valore dei Titoli da essi influenzati; un abbassamento dell’eventuale rating assegnato a titoli di debito in essere dell’Emittente o del Garante da parte di un’agenzia di rating potrebbe causare una riduzione del valore di negoziazione dei Titoli; potrebbero sorgere certi conflitti di interessi (si veda l'Elemento E.4 che segue); il solo modo per un Portatore di realizzare valore da un Titolo prima della Data di Liquidazione, consiste nel vendere tale Titolo al suo prezzo di mercato allora corrente in un mercato secondario disponibile e potrebbe non esservi alcun mercato secondario per i Titoli (nel qual caso un investitore dovrebbe esercitare o aspettare fino al rimborso dei Titoli per realizzare un valore superiore al valore di negoziazione); potrebbe non essere mai stabilito un mercato secondario attivo, o potrebbe essere illiquido, e questo potrebbe avere un effetto pregiudizievole sul valore al quale un investitore può vendere i suoi Titoli (gli investitori potrebbero subire una perdita parziale o totale dell’importo del loro investimento). Inoltre, esistono rischi specifici in relazione ai Titoli che sono legati a un Sottostante di Riferimento e un investimento in tali Titoli comporterà rischi significativi non associati ad un investimento in un titolo di debito tradizionale. I fattori di rischio relativi ai Titoli legati a un Sottostante di Riferimento includono: l’esposizione a uno o più indici, eventi di rettifica e turbative di mercato o la mancata apertura di una Borsa, che potrebbero avere un effetto negativo sul valore e sulla liquidità dei Titoli. il fatto che in certe circostanze i Certificates possono essere liquidati anticipatamente e che l'Emittente non fornisce informazioni sul Sottostante di Riferimento dopo l'emissione. In certe circostanze i Portatori potrebbero perdere l’intero valore del loro investimento. | ||
D.6 | Avvertenza relativa ai rischi | Si veda l'Elemento D.3 che precede. Nel caso di insolvenza di un Emittente o qualora lo stesso non sia altrimenti in grado di, o disposto a, rimborsare i Xxxxxx alla scadenza, un investitore potrebbe perdere tutto o parte del suo investimento nei Titoli. Qualora il Garante non sia in grado di, o non sia disposto a, adempiere le |
Elemento | Titolo | |
proprie obbligazioni ai sensi della Garanzia dovute alla scadenza, un investitore potrebbe perdere tutto o parte del suo investimento nei Titoli. Inoltre, gli investitori potrebbero perdere tutto o parte del loro investimento nei Titoli in conseguenza dei termini e condizioni dei Titoli stessi. |
Sezione E - Offerta
Elemento | Titolo | |
E.2b | Ragioni dell’offerta e utilizzo dei proventi | I proventi netti dell’emissione dei Titoli andranno a far parte dei fondi generali dell’Emittente. Tali proventi potranno essere utilizzati per mantenere posizioni in contratti di opzioni o di future o altri strumenti di copertura |
E.3 | Termini e condizioni dell’offerta | L'emissione di Titoli è effettuata in Italia come Offerta Non Esente. Il prezzo di emissione dei Titoli è come indicato in C.20. |
E.4 | Interesse di persone fisiche e giuridiche coinvolte nell’emissione / offerta | Fatto salvo quanto sopra menzionato, nessun soggetto coinvolto nell'emissione dei Titoli ha un interesse sostanziale nell'offerta, inclusi conflitti di interessi. |
E.7 | Spese addebitate all’investitore dall’Emittente o da un offerente | Xxxxxxx spesa sarà addebitata ad un investitore da parte dell'Emittente. |
ANNEX 1- ADDITIONAL TERMS AND CONDITIONS FOR PAYOUTS
ETS Payout 2200/1
If ETS Final Payout 2200/1 is specified as applicable in the applicable Final Terms:
(i) if the Securities are specified in the applicable Final Terms as being Call Securities:
Xxx(0;Settlement Price Final −Strike Price) .
[Parity x ExchangeRate Final]
(ii) if the Securities are specified in the applicable Final Terms as being Put Securities:
Max(0;Strike Price - Settlement Price Final) .
[Parity x Exchange Rate Final]
Description of the Payout
The Payout will be equal to (i) in the case of Call Securities, the excess (if any) of the Settlement Price on the Valuation Date over the Strike Price, or (ii) in the case of Put Securities, the excess (if any) of the Strike Price over the Settlement Price on the Valuation Date, in each case divided by the product of the Exchange Rate and Parity.
Automatic Early Redemption Payout 2200/1
If Automatic Early Redemption Payout 2200/1 is specified as applicable in the applicable Final Terms, 0 (zero).
KNOCK-IN EVENT AND KNOCK-OUT EVENT
If "Knock-in Event" is specified as applicable in the applicable Final Terms, then any payment and/or delivery, as applicable, under the relevant W&C Securities which is expressed in the Conditions to be subject to a Knock-in Event, shall be conditional upon the occurrence of such Knock-in Event.
If "Knock-out Event" is specified as applicable in the applicable Final Terms, then any payment and/or delivery, as applicable, under the relevant W&C Securities which is expressed in the Conditions to be subject to a Knock-out Event, shall be conditional upon the occurrence of such Knock-out Event.
In respect of Index Securities, Share Securities, ETI Securities and Futures Securities, if the Knock-in Valuation Time or the Knock-out Valuation Time specified in the applicable Final Terms is the Valuation Time and if on any Knock-in Determination Day or Knock-out Determination Day (a) in respect of W&C Securities other than Custom Index Securities, at any time during the one hour period that begins or ends at the Valuation Time the Level triggers the Knock-in Level or the Knock-out Level, a Trading Disruption, Exchange Disruption or Early Closure occurs or exists, or (b) in respect of Custom Index Securities, a Custom Index Disruption Event is occurring, then (i) if Disruption Consequences are specified as not applicable in the applicable Final Terms, a Knock-in Event or Knock-out Event may occur notwithstanding such Trading Disruption, Exchange Disruption, Early Closure or Custom Index Disruption Event or (ii) if Disruption Consequences are specified as
applicable in the applicable Final Terms, the Knock-in Event or the Knock-out Event shall be deemed not to have occurred; provided that if, by operation of this provision, no Knock-in Determination Day or Knock-out Determination Day would occur in the Knock-in Determination Period or Knock-out Determination Period, the Knock-in Period Ending Date or Knock-out Period Ending Date shall be treated as a Valuation Date and the Calculation Agent shall determine the Level as at the Knock-in Valuation Time or Knock-out Valuation Time in accordance with the provisions contained in the definition of "Valuation Date" for the purposes of determining the occurrence of a Knock-in Event or Knock-out Event.
In respect of Commodity Securities or Currency Securities, if the Knock-in Valuation Time or the Knock-out Valuation Time specified in the applicable Final Terms is the Valuation Time and if any Knock-in Determination Day or Knock-out Determination Day is a Commodity Disrupted Day or a Disrupted Day, as applicable, then (i) if Disruption Consequences are specified as not applicable in the applicable Final Terms, a Knock-in Event or Knock-out Event may occur notwithstanding such day being a Commodity Disrupted Day or a Disrupted Day, as the case may be or (ii) if Disruption Consequences are specified as applicable in the applicable Final Terms, such Knock-in Determination Day or Knock-out Determination Day will be deemed not to be a Knock-in Determination Day or Knock-out Determination Day for the purposes of determining the occurrence of a Knock-in Event or a Knock-out Event.
In respect of W&C Securities other than Custom Index Securities, if the Knock-in Valuation Time or the Knock-out Valuation Time specified in the applicable Final Terms is any time or period of time during the regular trading hours on the relevant Exchange and if on any Knock-in Determination Day or Knock-out Determination Day and at any time during the one-hour period that begins or ends at the time on which the Level triggers the Knock-in Level or the Knock-out Level, (a) in the case of Index Securities, Share Securities, ETI Securities and Futures Securities, a Trading Disruption, Exchange Disruption or Early Closure, (b) in the case of Currency Securities, a Disruption Event or (c) in the case of Commodity Securities, a Market Disruption Event, in each case occurs or exists, then (i) if Disruption Consequences are specified as not applicable in the applicable Final Terms, a Knock-in Event or Knock-out Event may occur notwithstanding such Trading Disruption, Exchange Disruption, Early Closure, Disruption Event or Market Disruption Event or (ii) if Disruption Consequences are specified as applicable in the applicable Final Terms, the Knock-in Event or the Knock-out Event shall be deemed not to have occurred, provided that, in the case of W&C Securities other than Commodity Securities or Currency Securities, if, by operation of this provision, no Knock-in Determination Day or Knock-out Determination Day would occur in the Knock-in Determination Period or Knock-out Determination Period, the Knock-in Period Ending Date or Knock-out Period Ending Date shall be treated as a Valuation Date and the Calculation Agent shall determine the Level as at the Knock-in Valuation Time or Knock-out Valuation Time in accordance with the provisions contained in the definition of "Valuation Date" for the purposes of determining the occurrence of a Knock-in Event or Knock-out Event.
Definitions relating to Knock-in Event/Knock-out Event Unless otherwise specified in the applicable Final Terms:
"Knock-in Determination Day" means (a) each date, (b) each Scheduled Trading Day in the Knock- in Determination Period, (c) each Scheduled Custom Index Business Day in the Knock-in Determination Period, (d) each Fund Business Day in the Knock-in Determination Period, or (e) each Business Day in the Knock-in Determination Period, as specified in the applicable Final Terms;
"Knock-in Determination Period" means the period which commences on, and includes, the Knock-in Period Beginning Date and ends on, and includes, the Knock-in Period Ending Date;
"Knock-in Event" means:
(a) if SPS Knock-in Valuation is specified as applicable in the applicable Final Terms, the Knock-in Value is; or
(b) if SPS Knock-in Valuation is specified as not applicable in the applicable Final Terms:
(i) (in respect of a single Underlying Reference) that the Level is; or
(ii) (in respect of a Basket of Underlying References) that the amount determined by the Calculation Agent equal to the sum of the values of each Underlying Reference as the product of (x) the Level of such Underlying Reference and (y) the relevant Weighting is,
(A) "greater than", "greater than or equal to", "less than" or "less than or equal to" the Knock-in Level or, if applicable, (B) "within" the Knock-in Range Level, in each case as specified in the applicable Final Terms (x) on a Knock-in Determination Day or (y) in respect of a Knock-in Determination Period, specified in the applicable Final Terms;
"Knock-in Level" means the FX, Knock-in Level or the other level, amount, number or percentage specified as such or otherwise determined in the applicable Final Terms, subject to adjustment from time to time in accordance with the provisions set forth in the Relevant Adjustment Provisions;
"Knock-in Period Beginning Date" means the date specified as such in the applicable Final Terms or, if the Knock-in Period Beginning Date Day Convention is specified as applicable in the applicable Final Terms and such date is not a Scheduled Trading Day (in the case of Index Securities (other than Custom Index Securities), Share Securities, ETI Securities or Currency Securities), a Commodity Business Day (in the case of Commodity Securities), a Custom Index Business Day (in the case of Custom Index Securities), a Fund Business Day (in the case of Fund Securities) or Business Day (in the case of other Securities), the next following Scheduled Trading Day, Commodity Business Day, Custom Index Business Day, Fund Business Day or Business Day, as the case may be;
"Knock-in Period Ending Date" means the date specified as such in the applicable Final Terms or, if the Knock-in Period Ending Date Day Convention is specified as applicable in the applicable Final Terms and such date is not a Scheduled Trading Day (in the case of Index Securities (other than Custom Index Securities), Share Securities, ETI Securities or Currency Securities), a Commodity Business Day (in the case of Commodity Securities), a Custom Index Business Day (in the case of Custom Index Securities), a Fund Business Day (in the case of Fund Securities) or Business Day (in the case of other Securities), the next following Scheduled Trading Day, Commodity Business Day, Custom Index Business Day, Fund Business Day or Business Day, as the case may be;
"Knock-in Range Level" means the range of Levels specified as such or otherwise determined in the applicable Final Terms, subject to adjustment from time to time in accordance with the provisions set forth in the Relevant Adjustment Provisions;
"Knock-in Observation Price Source" means the source specified as such in the applicable Final Terms;
"Knock-in Valuation Time" means the time or period of time on any Knock-in Determination Day specified as such in the applicable Final Terms or in the event that the applicable Final Terms do not specify a Knock-in Valuation Time, the Knock-in Valuation Time shall be the Valuation Time;
"Knock-in Value" means the value from Payout Condition Error! Reference source not found., Error! Reference source not found., Error! Reference source not found., Error! Reference source not found. or Error! Reference source not found. specified as such in the applicable Final Terms;
"Knock-out Determination Day" means (a) each date, (b) each Scheduled Trading Day in the Knock-out Determination Period, (c)each Scheduled Custom Index Business Day in the Knock-out Determination Period, (d) each Fund Business Day in the Knock-out Determination Period, or (e) each Business Day in the Knock-out Determination Period as specified in the applicable Final Terms;
"Knock-out Determination Period" means the period which commences on, and includes, the Knock-out Period Beginning Date and ends on, and includes, the Knock-out Period Ending Date;
"Knock-out Event" means:
(a) if SPS Knock-out Valuation is specified as applicable in the applicable Final Terms, the Knock-out Value is, or
(b) if SPS Knock-out Valuation is specified as not applicable in the applicable Final Terms:
(i) (in respect of a single Underlying Reference) that the Level is; or
(ii) (in respect of a Basket of Underlying References) that the amount determined by the Calculation Agent equal to the sum of the values of each Underlying References as the product of (x) the Level of such Underlying Reference and (y) the relevant Weighting is,
(A) "greater than", "greater than or equal to", "less than" or "less than or equal to" the Knock-out Level or, if applicable, (B) "within" the Knock-out Range Level, in each case, as specified in the applicable Final Terms (x) on a Knock-out Determination Day or (y) in respect of a Knock-out Determination Period, as specified in the applicable Final Terms;
"Knock-out Level" means the FX Knock-out Level or the level, amount, number or percentage specified as such in the applicable Final Terms, subject to adjustment from time to time in accordance with the provisions set forth in the Relevant Adjustment Provisions;
"Knock-out Observation Price Source" means the source specified as such in the applicable Final Terms;
"Knock-out Period Beginning Date" means the date specified as such in the applicable Final Terms or, if the Knock-out Period Beginning Date Day Convention is specified as applicable in the applicable Final Terms and such date is not a Scheduled Trading Day (in
the case of Index Securities (other than Custom Index Securities), Share Securities, ETI Securities or Currency Securities), a Commodity Business Day (in the case of Commodity Securities), a Custom Index Business Day (in the case of Custom Index Securities), a Fund Business Day (in the case of Fund Securities) or Business Day (in the case of other Securities), the next following Scheduled Trading Day, Commodity Business Day, Custom Index Business Day, Fund Business Day or Business Day, as the case may be;
"Knock-out Period Ending Date" means the date specified as such in the applicable Final Terms or, if the Knock-out Period Ending Date Day Convention is specified as applicable in the applicable Final Terms and such date is not a Scheduled Trading Day (in the case of Index Securities (other than Custom Index Securities), Share Securities, ETI Securities or Currency Securities), a Commodity Business Day (in the case of Commodity Securities), a Custom Index Business Day (in the case of Custom Index Securities), a Fund Business Day (in the case of Fund Securities) or Business Day (in the case of other Securities), the next following Scheduled Trading Day, Commodity Business Day, Custom Index Business Day, Fund Business Day or Business Day, as the case may be;
"Knock-out Range Level" means the range of Levels specified as such or otherwise determined in the applicable Final Terms, subject to adjustment from time to time in accordance with the provisions set forth in the Relevant Adjustment Provisions;
"Knock-out Valuation Time" means the time or period of time on any Knock-out Determination Day specified as such in the applicable Final Terms or in the event that the applicable Final Terms do not specify a Knock-out Valuation Time, the Knock-out Valuation Time shall be the Valuation Time;
"Knock-out Value" means the value from Payout Condition Error! Reference source not found., Error! Reference source not found., Error! Reference source not found., Error! Reference source not found. or Error! Reference source not found. specified as such in the applicable Final Terms;
"Level" means, for the purposes of this Condition 0, (i) the "official level", "official close", "last price", "bid price" or "asked price" of the Underlying Reference, as specified in the applicable Final Terms, published by the Knock-in Observation Price Source or Knock-out Observation Price Source, as applicable, or (ii) if "Standard Level" is specified as applicable in the applicable Final Terms (a) in the case of Share Securities, ETI Securities and Futures Securities, the price of the relevant Underlying Reference, (b) in the case of Index Securities and Custom Index Securities, the level of the relevant Underlying Reference (c) in the case of Commodity Securities, the Relevant Price, or (d) in the case of Currency Securities, the spot rate of exchange for the exchange of the Subject Currency into the Base Currency (expressed as the number of units (or part units) of such Subject Currency for which one unit of the Base Currency can be exchanged), in each case determined by the Calculation Agent as of the Knock-in Valuation Time or Knock-out Valuation Time on any Knock-in Determination Day or Knock-out Determination Day, as applicable, or, in the case of the "official close" level, at such time as the official close is published by the Knock-in Observation Price Source or Knock-out Observation Price Source, as applicable;
ANNEX 2
ADDITIONAL TERMS AND CONDITIONS FOR INDEX SECURITIES
If specified as applicable in the applicable Final Terms, (a) the terms and conditions applicable to Notes specified in the applicable Final Terms as Index Securities shall comprise the terms and conditions of Notes (the "Note Conditions") and the additional Terms and Conditions for Index Securities set out below (the "Index Security Conditions") and (b) the terms and conditions applicable to W&C Securities specified in the applicable Final Terms as Index Securities shall comprise terms and conditions of W&C Securities (the "W&C Security Conditions") and the Index Security Conditions, in each case together with any other additional terms and conditions specified in the applicable Final Terms and subject to completion in the applicable Final Terms. In the event of any inconsistency between (i) the Note Conditions or the W&C Security Conditions, as applicable, and (ii) the Index Security Conditions, the Index Security provisions shall prevail. References in the Index Security Conditions to "Security" or "Securities" shall be deemed to be references to "Note" and "Notes" or "W&C Security" and "W&C Securities" as the context admits.
1. Definitions
"Basket of Indices" means a basket composed of each Index specified in the applicable Final Terms in the weightings specified in the applicable Final Terms;
"Clearance System" means the principal domestic clearance system customarily used for settling trades in the relevant securities;
"Clearance System Days" means, in respect of a Clearance System, any day on which such Clearance System is (or, but for the occurrence of an event which results in the Clearance System being unable to clear the transfer of a relevant security would have been) open for the acceptance and execution of settlement instructions;
"Closing Level" means, in respect of an Index and a Scheduled Trading Day, the official closing level of such Index on such day as determined by the Calculation Agent, subject as provided in Index Security Condition 0 (Adjustments to an Index);
"Component Security" means, in respect of a Composite Index, each component security of such Index;
"Composite Index" means any Index specified as such in the applicable Final Terms, or if not so specified, any Index which the Calculation Agent determines to be such an Index;
"Disrupted Day" means:
in respect of any Composite Index, any Scheduled Trading Day on which (i) the Index Sponsor fails to publish the level of such Index, (ii) the Related Exchange fails to open for trading during its regular trading session, or (iii) a Market Disruption Event has occurred; and
in respect of an Index that is not a Composite Index, any Scheduled Trading Day on which
(i) the relevant Exchange and/or any Related Exchange fails to open for trading during its regular trading session or (ii) a Market Disruption Event has occurred;
"Early Closure" means:
in respect of a Composite Index, the closure on any Exchange Business Day of the Exchange in respect of any Component Security or the Related Exchange prior to its Scheduled Closing Time unless such earlier closing is announced by such Exchange or Related Exchange (as the case may be) at least one hour prior to the earlier of (i) the actual closing time for the regular trading session on such Exchange or Related Exchange (as the case may be) on such Exchange Business Day and (ii) the submission deadline for orders to be entered into the Exchange or Related Exchange system for execution at the relevant Valuation Time on such Exchange Business Day; and
in the case of an Index which is not a Composite Index, the closure on any Exchange Business Day of any relevant Exchange(s) relating to securities that comprise 20 per cent. or more of the level of the relevant Index or any Related Exchange(s) prior to its Scheduled Closing Time unless such earlier closing time is announced by such Exchange(s) or such Related Exchange(s), as the case may be, at least one hour prior to the earlier of (i) the actual closing time for the regular trading session on such Exchange(s) or such Related Exchange(s) on such Exchange Business Day and (ii) the submission deadline for orders to be entered into the Exchange or Related Exchange system for execution at the Valuation Time on such Exchange Business Day;
"Exchange" means:
in the case of a Composite Index, in respect of each Component Security, the principal stock exchange on which such Component Security is principally traded, as determined by the Calculation Agent; and
in the case of any Index which is not a Composite Index, in respect of such Index, each exchange or quotation system specified as such for such Index in the applicable Final Terms, any successor to such exchange or quotation system or any substitute exchange or quotation system to which trading in the securities comprising such Index has temporarily relocated (provided that the Calculation Agent has determined that there is comparable liquidity relative to the securities comprising such Index on such temporary substitute exchange or quotation system as on the original Exchange);
"Exchange Business Day" means either (a) in the case of a single Index, Exchange Business Day (Single Index Basis) or (b) in the case of a Basket of Indices, (i) Exchange Business Day (All Indices Basis) or (ii) Exchange Business Day (Per Index Basis), in each case as specified in the applicable Final Terms, provided that if no such specification is made in the applicable Final Terms, Exchange Business Day (All Indices Basis) shall apply;
"Exchange Business Day (All Indices Basis)" means any Scheduled Trading Day on which
(a) in respect of any Indices other than Composite Indices, each Exchange and each Related Exchange, if any, are open for trading during their respective regular trading session(s) in respect of such Indices, notwithstanding any such Exchange or Related Exchange closing prior to their Scheduled Closing Time and (b) in respect of any Composite Indices, (i) the Index Sponsor publishes the level of such Composite Indices and (ii) each Related Exchange, if any, is open for trading during its regular trading session in respect of such Composite Indices, notwithstanding any such Related Exchange closing prior to its Scheduled Closing Time;
"Exchange Business Day (Per Index Basis)" means, in respect of an Index, any Scheduled Trading Day on which (a) in respect of an Index other than a Composite Index, the relevant Exchange and the relevant Related Exchange, if any, in respect of such Index are open for trading during their regular trading session(s), notwithstanding any such Exchange or Related Exchange closing prior to its Scheduled Closing Time and (b) in respect of a Composite Index, (i) the relevant Index Sponsor publishes the level of such Composite Index and (ii) the Related Exchange, if any, is open for trading during its regular trading session in respect of such Composite Index, notwithstanding such Related Exchange closing prior to its Scheduled Closing Time;
"Exchange Business Day (Single Index Basis)" means any Scheduled Trading Day on which (a) in respect of an Index other than a Composite Index, the relevant Exchange and the relevant Related Exchange, if any, are open for trading during their regular trading session(s), notwithstanding any such relevant Exchange or relevant Related Exchange closing prior to its Scheduled Closing Time and (b) in respect of a Composite Index (i) the relevant Index Sponsor publishes the level of such Composite Index and (ii) the relevant Related Exchange, if any, is open for trading during its regular trading session in respect of such Composite Index, notwithstanding such Related Exchange closing prior to its Scheduled Closing Time;
"Exchange Disruption" means:
in respect of a Composite Index, any event (other than an Early Closure) that disrupts or impairs (as determined by the Calculation Agent) the ability of market participants in general to effect transactions in, or obtain market values for (i) any Component Security on the Exchange in respect of such Component Security or (ii) in futures or options contracts relating to such Index on the Related Exchange; and
in the case of an Index which is not a Composite Index, any event (other than an Early Closure) that disrupts or impairs (as determined by the Calculation Agent) the ability of market participants in general (i) to effect transactions in, or obtain market values for, on any relevant Exchange(s) in securities that comprise 20 per cent. or more of the level of the relevant Index, or (ii) to effect transactions in, or obtain market values for, futures or options contracts relating to the relevant Index on any relevant Related Exchange;
"Index" and "Indices" mean, subject to adjustment in accordance with this Error! Reference source not found., the index or indices specified in the applicable Final Terms and related expressions shall be construed accordingly;
"Index Correction Period" means (a) the period specified in the applicable Final Terms, or
(b) if none is so specified, one Settlement Cycle;
"Index Sponsor" means, in relation to an Index, the corporation or other entity that (a) is responsible for setting and reviewing the rules and procedures and the methods of calculation and adjustments, if any, related to such Index and (b) announces (directly or through an agent) the level of such Index on a regular basis during each Scheduled Trading Day, which as of the Issue Date is the index sponsor specified for such Index in the applicable Final Terms;
"Intraday Level" means, in respect of an Index and any time on a Scheduled Trading Day, the level of such Index at such time on such day as determined by the Calculation Agent, subject as provided in Index Security Condition 0 (Adjustments to an Index);
"Related Exchange" means, in relation to an Index, each exchange or quotation system specified as such for such Index in the applicable Final Terms, any successor to such exchange or quotation system or any substitute exchange or quotation system to which trading in futures or options contracts relating to such Index has temporarily relocated (provided that the Calculation Agent has determined that there is comparable liquidity relative to the futures or options contracts relating to such Index on such temporary substitute exchange or quotation system as on the original Related Exchange), provided that where "All Exchanges" is specified as the Related Exchange in the applicable Final Terms, "Related Exchange" shall mean each exchange or quotation system where trading has a material effect (as determined by the Calculation Agent) on the overall market for futures or options contracts relating to such Index;
"Scheduled Trading Day" means either (a) in the case of a single Index, Scheduled Trading Day (Single Index Basis) or (b) in the case of a Basket of Indices, (i) Scheduled Trading Day (All Indices Basis) or (ii) Scheduled Trading Day (Per Index Basis), in each case as specified in the applicable Final Terms, provided that if no such specification is made in the applicable Final Terms, Scheduled Trading Day (All Indices Basis) shall apply;
"Scheduled Trading Day (All Indices Basis)" means any day on which (a) in respect of any Indices other than Composite Indices, each Exchange and each Related Exchange, if any, are scheduled to be open for trading during their respective regular trading session(s) in respect of such Indices, and (b) in respect of any Composite Indices, (i) the Index Sponsor is scheduled to publish the level of such Composite Indices and (ii) each Related Exchange, if any, is scheduled to be open for trading during its regular trading session in respect of such Composite Indices;
"Scheduled Trading Day (Per Index Basis)" means, in respect of an Index, any day on which (a) in respect of an Index other than a Composite Index, the relevant Exchange and the relevant Related Exchange, if any, in respect of such Index are scheduled to be open for trading during their respective regular trading session(s), and (b) in respect of a Composite Index, (i) the relevant Index Sponsor is scheduled to publish the level of such Composite Index and (ii) the relevant Related Exchange, if any, is scheduled to be open for trading during its regular trading session in respect of such Composite Index;
"Scheduled Trading Day (Single Index Basis)" means any day on which (a) in respect of an Index other than a Composite Index, the relevant Exchange and the relevant Related Exchange, if any, are scheduled to be open for trading during their respective regular trading session(s), and (b) in respect of a Composite Index (i) the relevant Index Sponsor is scheduled to publish the level of such Composite Index and (ii) the relevant Related Exchange, if any, is scheduled to be open for trading during its regular trading session in respect of such Composite Index;
"Settlement Cycle" means, in respect of an Index, the period of Clearance System Days following a trade in the security comprising such Index on the Exchange in which settlement will customarily occur according to the rules of such Exchange;
"Settlement Price" means, unless otherwise stated in the applicable Final Terms, in relation to each Security or, in the case of Warrants, if Units are specified in the applicable Final Terms, each Unit, as the case may be, subject to the provisions of this Error! Reference source not found. and as referred to in "Strike Date", "Averaging Date", "Observation Date" or "Valuation Date", as the case may be:
in the case of Index Securities relating to a Basket of Indices and in respect of each Index comprising the Basket of Indices, an amount (which shall be deemed to be a monetary value on the same basis as the Exercise Price (in the case of Warrants) or in the Index Currency (in the case of Notes or Certificates)) equal to the official closing level or official opening level, as specified in the applicable Final Terms, for such Index as determined by the Calculation Agent or, if so specified in the applicable Final Terms, the level of such Index determined by the Calculation Agent as set out in the applicable Final Terms at the Valuation Time on (i) if Averaging is not specified in the applicable Final Terms, the relevant Settlement Price Date or (ii) if Averaging is specified in the applicable Final Terms, an Averaging Date and, in either case, multiplied by the relevant Weighting; and
in the case of Index Securities relating to a single Index, an amount (which shall be deemed to be a monetary value on the same basis as the Exercise Price (in the case of Warrants) or in the Index Currency (in the case of Notes or Certificates)) equal to the official closing level or official opening level, as specified in the applicable Final Terms, of the Index as determined by the Calculation Agent or, if so specified in the applicable Final Terms, the level of the Index determined by the Calculation Agent as set out in the applicable Final Terms at the Valuation Time on (i) if Averaging is not specified in the applicable Final Terms, the relevant Settlement Price Date or (ii) if Averaging is specified in the applicable Final Terms, an Averaging Date;
"Settlement Price Date" means the Strike Date, an Observation Date or the Valuation Date, as the case may be; and
"Trading Disruption" means:
in respect of a Composite Index, any suspension of or limitation imposed on trading by the relevant Exchange or Related Exchange or otherwise and whether by reason of movements in price exceeding limits permitted by the relevant Exchange or Related Exchange or otherwise: (i) relating to any Component Security on the Exchange in respect of such Component Security; or (ii) in futures or options contracts relating to such Index on the Related Exchange; and
in the case of an Index which is not a Composite Index, any suspension of or limitation imposed on trading by the relevant Exchange or Related Exchange or otherwise and whether by reason of movements in price exceeding limits permitted by the relevant Exchange or Related Exchange or otherwise: (i) relating to securities that comprise 20 per cent. or more of the level of the relevant Index; or (ii) in futures or options contracts relating to the relevant Index on any relevant Related Exchange.
Market Disruption
"Market Disruption Event" means:
in respect of a Composite Index either:
the occurrence or existence, in respect of any Component Security, of:
Trading Disruption in respect of such Component Security, which the Calculation Agent determines is material, at any time during the one hour period that ends at the relevant Valuation Time in respect of the Exchange on which such Component Security is principally traded;
an Exchange Disruption in respect of such Component Security, which the Calculation Agent determines is material, at any time during the one-hour period that ends at the relevant Valuation Time in respect of the Exchange on which such Component Security is principally traded; or
an Early Closure in respect of such Component Security; and
the aggregate of all Component Securities in respect of which a Trading Disruption, an Exchange Disruption or an Early Closure occurs or exists comprises 20 per cent. or more of the level of such Index; or
the occurrence or existence, in respect of futures or options contracts relating to such Index, of: (A) a Trading Disruption; (B) an Exchange Disruption, which in either case the Calculation Agent determines is material, at any time during the one- hour period that ends at the Valuation Time in respect of the Related Exchange; or
(C) an Early Closure, in each case in respect of such futures or options contracts.
For the purposes of determining whether a Market Disruption Event exists in respect of a Component Security at any time, if a Market Disruption Event occurs in respect of such Component Security at that time, then the relevant percentage contribution of that Component Security to the level of such Index shall be based on a comparison of (x) the portion of the level of such Index attributable to that Component Security to (y) the overall level of such Index, in each case using the official opening weightings as published by the Index Sponsor as part of the market "opening data"; and
in the case of Indices other than Composite Indices, the occurrence or existence of (i) a Trading Disruption, (ii) an Exchange Disruption, which in either case the Calculation Agent determines is material, at any time during the one hour period that ends at the relevant Valuation Time, or (iii) an Early Closure. For the purposes of determining whether a Market Disruption Event in respect of such Index exists at any time, if a Market Disruption Event occurs in respect of a security included in such Index at any time, then the relevant percentage contribution of that security to the level of the Index shall be based on a comparison of (A) the portion of the level of such Index attributable to that security and
(B) the overall level of such Index, in each case immediately before the occurrence of such Market Disruption Event.
The Calculation Agent shall give notice as soon as practicable to the Holders in accordance with W&C Security Condition Error! Reference source not found. in the case of W&C Securities or Note Condition Error! Reference source not found., as applicable, of the occurrence of a Disrupted Day on any day that, but for the occurrence of a Disrupted Day, would have been the Strike Date, an Averaging Date, an Observation Date, the Automatic Early Redemption Valuation Date or a Valuation Date, as the case may be.
Adjustments to an Index
Successor Index Sponsor Calculates and Reports an Index
If a relevant Index is (a) not calculated and announced by the Index Sponsor but is calculated and announced by a successor sponsor (the "Successor Index Sponsor") acceptable to the Calculation Agent, or (b) replaced by a successor index using, in the determination of the
Calculation Agent, the same or a substantially similar formula for and method of calculation as used in the calculation of that Index, then in each case that index (the "Successor Index") will be deemed to be the Index.
Modification and Cessation of Calculation of an Index
If (a) on or prior to the last Averaging Date, the last Observation Date or the last Valuation Date, the relevant Index Sponsor makes or announces that it will make a material change in the formula for or the method of calculating a relevant Index or in any other way materially modifies that Index (other than a modification prescribed in that formula or method to maintain that Index in the event of changes in constituent stock and capitalisation and other routine events) (an "Index Modification"), or permanently cancels a relevant Index and no Successor Index exists (an "Index Cancellation"), or (b) on an Averaging Date, an Observation Date or a Valuation Date, the Index Sponsor or (if applicable) the Successor Index Sponsor fails to calculate and announce a relevant Index (an "Index Disruption" and, together with an Index Modification and an Index Cancellation, each an "Index Adjustment Event"), then, except as may be limited in the case of U.S. Securities:
(a) the Calculation Agent shall determine if such Index Adjustment Event has a material effect on the Securities and, if so, shall calculate the relevant value, level or price using, in lieu of a published level for that Index, the level for that Index as at the Valuation Time on that Valuation Date, that Observation Date or that Averaging Date, as the case may be, as determined by the Calculation Agent in accordance with the formula for and method of calculating that Index last in effect prior to the change, failure or cancellation, but using only those securities that comprised that Index immediately prior to that Index Adjustment Event; or
(b) in the case of Warrants, the Issuer may cancel the Warrants by giving notice to Holders in accordance with W&C Security Condition Error! Reference source not found.. If the Warrants are so cancelled, the Issuer will pay an amount to each Holder in respect of each Warrant, or if Units are specified in the applicable Final Terms, each Unit being cancelled at an amount equal to the fair market value of a Warrant or a Unit, as the case may be, taking into account the Index Adjustment Event, less the cost to the Issuer and/or its Affiliates of unwinding any underlying related hedging arrangements, all as determined by the Calculation Agent in its sole and absolute discretion. Payments will be made in such manner as shall be notified to the Holders in accordance with W&C Security Condition Error! Reference source not found.; or
(c) in the case of Notes or Certificates:
(i) unless Delayed Redemption on Occurrence of Index Adjustment Event is specified as being applicable in the applicable Final Terms, the Issuer may redeem the Securities by giving notice to Holders in accordance with W&C Security Condition Error! Reference source not found. or Note Condition Error! Reference source not found., as applicable. If the Securities are so redeemed the Issuer will pay an amount to each Holder in respect of each Security being redeemed at an amount equal to the fair market value of such Security taking into account the Index Adjustment Event, less the cost to the Issuer and/or its Affiliates of unwinding any underlying related hedging arrangements, all as determined by the
Calculation Agent in its sole and absolute discretion. Payments will be made in such manner as shall be notified to the Holders in accordance with W&C Security Condition Error! Reference source not found. or Note Condition Error! Reference source not found., as applicable; or
(ii) if Delayed Redemption on Occurrence of Index Adjustment Event is specified as being applicable in the applicable Final Terms, the Calculation Agent shall calculate the fair market value of each Security taking into account the Index Adjustment Event less the cost to the Issuer and/or its Affiliates of unwinding any underlying related hedging arrangements (the "Calculated Index Adjustment Amount") as soon as practicable following the occurrence of the Index Adjustment Event (the "Calculated Index Adjustment Amount Determination Date") and on the Redemption Date (in the case of Certificates) or the Maturity Date (in the case of Notes) shall redeem each Security at an amount calculated by the Calculation Agent equal to (x) the Calculated Index Adjustment Amount plus interest accrued from and including the Calculated Index Adjustment Amount Determination Date to but excluding the Redemption Date or the Maturity Date, as the case may be, at a rate equal to Issuer's funding cost at such time or (y) if Principal Protected Termination Amount is specified as being applicable in the applicable Final Terms and if greater, the Notional Amount (in the case of a Certificate) or at its nominal amount (in the case of a Note).
Notice
The Calculation Agent shall, as soon as practicable, notify the relevant Security Agent or the Registrar, as the case may be, of any determination made by it pursuant to paragraph 0 above and the action proposed to be taken in relation thereto and such Security Agent or the Registrar, as the case may be, shall make available for inspection by Holders copies of any such determinations.
Correction of Index
With the exception of any corrections published after the day which is three Exchange Business Days prior to the due date for any payment under the Securities, if the Index published on a given day and used or to be used by the Calculation Agent to make any determination under the Securities is subsequently corrected and the correction is published by the relevant Index Sponsor or (if applicable) the relevant Successor Index Sponsor, (a) in respect of a Composite Index, no later than five Exchange Business Days following the date of the original publication, or (b) in respect of an Index which is not a Composite Index, within the number of days equal to the Index Correction Period of the original publication, the level to be used shall be the level of the Index as so corrected. Corrections published after the day which is three Exchange Business Days prior to a due date for payment under the Securities will be disregarded by the Calculation Agent for the purposes of determining the relevant amount to be paid.
Custom Index
Index Security Conditions 0 to 0 apply if "Custom Index" is specified as applicable in the applicable Final Terms. In the event of any inconsistency between the provisions of Index
Security Conditions 0 to 0 and the other Index Security Conditions, the provisions of Index Security Conditions 0 to 0 shall prevail.
Adjustments to a Custom Index and Custom Index Disruption Successor Index Sponsor Calculates and Reports an Index
If a relevant Custom Index is (a) not calculated and announced by the Index Sponsor but is calculated and announced by a successor sponsor acceptable to the Calculation Agent, or (b) replaced by a successor custom index using, in the determination of the Calculation Agent, the same or a substantially similar formula for and method of calculation as used in the calculation of that Custom Index, then in each case that custom index (the "Successor Custom Index") will be deemed to be the Custom Index.
Modification and Cessation of Calculation of a Custom Index and Custom Index Disruption
If (a) on or prior to the last Valuation Date, the last Observation Date or the last Averaging Date, the relevant Index Sponsor makes or announces that it will make a material change in the formula for or the method of calculating a relevant Custom Index or in any other way materially modifies that Custom Index (other than a modification prescribed in that formula or method to maintain that Custom Index in the event of changes in constituent components and capitalisation, contracts or commodities and other routine events) (a "Custom Index Modification"), or permanently cancels a relevant Custom Index and no Successor Custom Index exists (a "Custom Index Cancellation"), or (b) on a Valuation Date, an Observation Date or an Averaging Date, the Index Sponsor or (if applicable) the Successor Custom Index Sponsor fails to calculate and announce a relevant Custom Index or it is not a Custom Index Business Day (a "Custom Index Disruption" and, together with a Custom Index Modification and a Custom Index Cancellation, each a "Custom Index Adjustment Event"), then:
(d) in the case of Custom Index Securities relating to a single Custom Index where Scheduled Custom Index Business Days (Single Index Basis) is specified as applicable in the applicable Final Terms, then:
(i) if the Custom Index Adjustment Event is a Custom Index Disruption which occurs or is occurring on the last Valuation Date, last Averaging Date or last Observation Date, then such Valuation Date, Averaging Date or Observation Date, as the case may be, shall be the first succeeding Scheduled Custom Index Business Day on which a Custom Index Disruption is not occurring, unless there is a Custom Index Disruption on each of the number of consecutive Scheduled Custom Index Business Days equal to the Specified Maximum Days of Disruption immediately following the scheduled Valuation Date, Averaging Date or Observation Date, as the case may be, in which case the last such consecutive Scheduled Custom Index Business Day shall be deemed to be the Valuation Date, Averaging Date or Observation Date, as the case may be, notwithstanding the Custom Index Disruption and the Calculation Agent shall determine the relevant level, value or price by using commercially reasonable efforts to determine the level of the Custom Index as of the Valuation Time on the last such consecutive Scheduled Custom Index
Business Day in accordance with the formulae for and method of calculating the Custom Index last in effect prior to the occurrence of the Custom Index Disruption and using its good faith estimate of the value for the components of the Custom Index;
(ii) following a Custom Index Modification or Custom Index Cancellation at any time or a Custom Index Disruption (which in the latter case occurs or is occurring on the Strike Date, an Averaging Date (other than the last Averaging Date), an Observation Date (other than the last Observation Date) or a Valuation Date (other than the last Valuation Date), the Calculation Agent shall determine if such Custom Index Adjustment Event has a material effect on the Securities and, if so:
(A) if the Custom Index Adjustment Event is a Custom Index Disruption which occurs or is occurring on the Strike Date, an Averaging Date or Observation Date, the Calculation Agent may determine that the Strike Date, relevant Averaging Date or Observation Date, as the case may be, shall be the first succeeding Scheduled Custom Index Business Day (in the case of the Strike Date) or Valid Date (in the case of an Averaging Date or Observation Date, as the case may be) unless there is a Custom Index Disruption on each of the number of consecutive Scheduled Custom Index Business Days equal to the Specified Maximum Days of Disruption immediately following the scheduled Strike Date, Averaging Date or Observation Date, as the case may be, in which case the Calculation Agent may determine that the last such consecutive Scheduled Custom Index Business Day shall be deemed to be the Strike Date, Averaging Date or Observation Date, as the case may be (irrespective, in the case of an Averaging Date or Observation Date, of whether that last consecutive Scheduled Custom Index Business Day is already an Averaging Date or Observation Date, as the case may be) and may determine the relevant level, value or price by using commercially reasonable efforts to determine a level of the Custom Index as of the Valuation Time on the last such consecutive Scheduled Custom Index Business Day in accordance with the formulae for and method of calculating the Custom Index last in effect prior to the occurrence of the Custom Index Disruption and using its good faith estimate of the value for the components of the Custom Index; or
(B) the Calculation Agent may use commercially reasonable efforts to select a successor index with a substantially similar strategy as the original Custom Index and, upon selection of such index, the Calculation Agent shall promptly notify the Holders in accordance with W&C Security Condition Error! Reference source not found. or Note Condition Error! Reference source not found. and such index shall become the Successor Custom Index and shall be deemed to be the "Custom Index" for the purpose of the Securities and the Calculation Agent will make
such adjustment, if any, to one or more of the terms of the Securities as the Calculation Agent in its sole and absolute discretion determines appropriate; or
(C) the Calculation Agent may determine in its sole and absolute discretion such other appropriate adjustments, if any, to be made to the terms of the Securities to account for the Custom Index Adjustment Event and determine the effective date of those adjustments; or
(D) in the case of Warrants, the Calculation Agent may require the Issuer to cancel the Warrants in which case it will so notify the Issuer and the Issuer will give notice to Holders in accordance with W&C Security Condition Error! Reference source not found.. If the Warrants are so cancelled the Issuer will pay an amount to each Holder in respect of each Warrant being cancelled at an amount equal to the fair market value of each Warrant, taking into account the Custom Index Adjustment Event, less the cost to the Issuer and/or its Affiliates of unwinding any underlying related hedging arrangements, all as determined by the Calculation Agent in its sole and absolute discretion. Payments will be made in such manner as shall be notified to the Holders in accordance with W&C Security Condition Error! Reference source not found.; or
(E) in the case of Notes or Certificates:
unless Delayed Redemption on Occurrence of Custom Index Adjustment Event is specified as being applicable in the applicable Final Terms, the Issuer may redeem the Certificates by giving notice to Holders in accordance with W&C Security Condition Error! Reference source not found. or Note Condition Error! Reference source not found., as applicable. If the Securities are so redeemed the Issuer will pay an amount to each Holder in respect of each Security being redeemed at an amount equal to the fair market value of such Security taking into account the Custom Index Adjustment Event, less the cost to the Issuer and/or its Affiliates of unwinding any underlying related hedging arrangements, as determined by the Calculation Agent in its sole and absolute discretion. Payments will be made in such manner as shall be notified to the Holders in accordance with W&C Security Conditions Error! Reference source not found. or Note Condition Error! Reference source not found., as applicable; or
if Delayed Redemption on Occurrence of Custom Index Adjustment Event is specified as being applicable in the applicable Final Terms, the Calculation Agent shall calculate the fair market value of each Security taking
into account the Custom Index Adjustment Event, less the cost to the Issuer and/or its Affiliates of unwinding any underlying related hedging arrangements (the "Calculated Custom Index Adjustment Event Amount") as soon as practicable following the occurrence of the Custom Index Adjustment Event (the "Calculated Custom Index Adjustment Event Amount Determination Date") and on the Redemption Date (in the case of Certificates) or the Maturity Date (in the case of Notes) shall redeem each Security at an amount calculated by the Calculation Agent equal to the Calculated Custom Index Adjustment Event Amount plus interest accrued from and including the Calculated Custom Index Adjustment Event Amount Determination Date to but excluding the Redemption Date (in the case of Certificates) or the Maturity Date (in the case of Notes) at a rate equal to the Issuer's funding cost at such time; or
(F) in the case of a Custom Index Modification which occurs on the last Valuation Date, last Averaging Date or last Observation Date only, the Calculation Agent may elect to calculate the level of the Custom Index, using in lieu of the published level for the Custom Index as of the Valuation Date, Averaging Date or Observation Date, as the case may be, the level of the Custom Index as of that date determined by the Calculation Agent in accordance with the formula for and method of calculating the Custom Index last in effect prior to the Custom Index Modification but using only those components that comprised the Custom Index prior to the Custom Index Modification.
(e) in the case of Custom Index Securities relating to a Basket of Custom Indices where Scheduled Custom Index Business Days (All Indices Basis) is specified as applicable in the applicable Final Terms, then:
(i) if the Custom Index Adjustment Event is a Custom Index Disruption which occurs or is occurring in respect of any Custom Index (each an "Affected Custom Index") on the last Valuation Date, last Averaging Date or last Observation Date, then such Valuation Date, Averaging Date or Observation Date, as the case may be, for all Custom Indices in the Basket shall be the first succeeding Scheduled Custom Index Business Day on which a Custom Index Disruption is not occurring in respect of any of the Custom Indices in the Basket, unless there is a Custom Index Disruption in respect of any one of the Custom Indices in the Basket on each of the number of consecutive Scheduled Custom Index Business Days equal to the Specified Maximum Days of Disruption immediately following the scheduled Valuation Date, Averaging Date or Observation Date, as the case may be, in which case the last such consecutive Scheduled Custom Index Business Day shall be deemed to be the Valuation Date, Averaging Date or Observation Date, as the case may be,
for all Custom Indices in the Basket, notwithstanding the Custom Index Disruption in respect of an Affected Custom Index and the Calculation Agent shall determine the relevant level, value or price by using (X) in respect of any Custom Index which is not an Affected Custom Index, the method provided for in part (i) of the definition of "Settlement Price" contained in Index Security Condition 0 and (Y) in respect of any Custom Index in the Basket which is an Affected Custom Index, commercially reasonable efforts to determine the level of the relevant Custom Index as of the Valuation Time on the last such consecutive Scheduled Custom Index Business Day in accordance with the formulae for and method of calculating the relevant Custom Index last in effect prior to the occurrence of the Custom Index Disruption and using its good faith estimate of the value for the components of the Custom Index;
(ii) following a Custom Index Modification or Custom Index Cancellation at any time or a Custom Index Disruption (which in the latter case occurs or is occurring on the Strike Date, an Averaging Date (other than the last Averaging Date) or an Observation Date (other than the last Observation Date) or a Valuation Date (other than the last Valuation Date) the Calculation Agent shall determine if such Custom Index Adjustment Event has a material effect on the Securities and, if so:
(A) if the Custom Index Adjustment Event is a Custom Index Disruption which occurs or is occurring on the Strike Date, an Averaging Date or Observation Date, the Calculation Agent may determine that the Strike Date, relevant Averaging Date or Observation Date, as the case may be, for all Custom Indices in the Basket shall be the first succeeding Scheduled Custom Index Business Day (in the case of the Strike Date) or Valid Date (in the case of an Averaging Date or Observation Date, as the case may be) on which a Custom Index Disruption is not occurring in respect of any Custom Index (each an "Affected Custom Index") comprised in the Basket unless there is a Custom Index Disruption on each of the number of consecutive Scheduled Custom Index Business Days equal to the Specified Maximum Days of Disruption immediately following the scheduled Strike Date, Averaging Date or Observation Date, as the case may be, in which case the Calculation Agent may determine that the last such consecutive Scheduled Custom Index Business Day shall be deemed to be the Strike Date, Averaging Date or Observation Date, as the case may be (irrespective, in the case of an Averaging Date or Observation Date, of whether that last consecutive Scheduled Custom Index Business Day is already an Averaging Date or Observation Date, as the case may be) for all Custom Indices in the Basket and may determine the Settlement Price by using (X) in respect of any Custom Index in the Basket which is not an Affected Custom Index, the method provided for in part (i) of the definition of "Settlement Price" contained in Index Security Condition 0 (Definitions relating to Custom Indices) below and
(Y) in respect of any Custom Index in the Basket which is an
Affected Custom Index, commercially reasonable efforts to determine a level of the relevant Custom Index as of the Valuation Time on the last such consecutive Scheduled Custom Index Business Day in accordance with the formulae for and method of calculating the relevant Custom Index last in effect prior to the occurrence of the Custom Index Disruption and using its good faith estimate of the value for the components of the Custom Index; or
(B) the Calculation Agent may use commercially reasonable efforts to select a successor index with a substantially similar strategy as the original Custom Index and, upon selection of such index, the Calculation Agent shall promptly notify the Holders in accordance with W&C Security Condition Error! Reference source not found. or Note Condition Error! Reference source not found. and such index shall become the Successor Custom Index and shall be deemed to be a "Custom Index" for the purpose of the Securities and the Calculation Agent will make such adjustment, if any, to one or more of the terms of the Securities as the Calculation Agent in its sole and absolute discretion determines appropriate; or
(C) the Calculation Agent may determine in its sole and absolute discretion such other appropriate adjustments, if any, to be made to the terms of the Securities to account for the Custom Index Adjustment Event and determine the effective date of those adjustments; or
(D) in the case of Warrants, the Calculation Agent may require the Issuer to cancel the Warrants in which case it will so notify the Issuer and the Issuer will give notice to Holders in accordance with W&C Security Condition Error! Reference source not found.. If the Warrants are so cancelled, the Issuer will pay an amount to each Holder in respect of each Warrant being cancelled at an amount equal to the fair market value of each Warrant, taking into account the Custom Index Adjustment Event, less the cost to the Issuer and/or its Affiliates of unwinding any underlying related hedging arrangements, all as determined by the Calculation Agent in its sole and absolute discretion. Payments will be made in such manner as shall be notified to the Holders in accordance with W&C Security Condition Error! Reference source not found.; or
(E) in the case of Notes or Certificates:
unless Delayed Redemption on Occurrence of Custom Index Adjustment Event is specified as being applicable in the applicable Final Terms, the Issuer may redeem the Securities by giving notice to Holders in accordance with W&C Security Condition Error! Reference source not found. or Note Condition Error! Reference source not found., as applicable. If the Securities are so redeemed the Issuer will pay an amount to each Holder in respect of each Security being redeemed at an amount equal to the fair market value of such Security taking into account the Custom Index Adjustment Event, less the cost to the Issuer and/or its Affiliates of unwinding any underlying related hedging arrangements, all as determined by the Calculation Agent in its sole and absolute discretion. Payments will be made in such manner as shall be notified to the Holders in accordance with W&C
Security Condition Error! Reference source not found. or Note Condition Error! Reference source not found., as applicable; or
if Delayed Redemption on Occurrence of Custom Index Adjustment Event is specified as being applicable in the applicable Final Terms, the Security Agent shall calculate the fair market value of each Certificate taking into account the Custom Index Adjustment Event less the cost to the Issuer and/or its Affiliates of unwinding any underlying related hedging arrangements (the "Calculated Custom Index Adjustment Event Amount") as soon as practicable following the occurrence of the Custom Index Adjustment Event (the "Calculated Custom Index Adjustment Event Amount Determination Date") and on the Redemption Date (in the case of Certificates) or the Maturity Date (in the case of Notes) shall redeem each Security at an amount calculated by the Calculation Agent equal to the Calculated Custom Index Adjustment Event Amount plus interest accrued from and including the Calculated Custom Index Adjustment Event Amount Determination Date to but excluding the Redemption Date (in the case of Certificates) or the Maturity Date (in the case of Notes) at a rate equal to the Issuer's funding cost at such time; or
(F) in the case of a Custom Index Modification which occurs in respect of a Custom Index in the Basket which occurs on the last Valuation Date, last Averaging Date or last Observation Date only, the Calculation Agent may elect to calculate the level of such Custom Index, using in lieu of the published level for the Custom Index as of the Valuation Date, Averaging Date or Observation Date, as the case may be, the level of the Custom Index as of that date determined by the Calculation Agent in accordance with the formula for and method of calculating the Custom Index last in effect prior to the Custom Index Modification but using only those components that comprised the Custom Index prior to the Custom Index Modification.
(f) in the case of Custom Index Securities relating to a Basket of Custom Indices where Scheduled Custom Index Business Days (Per Index Basis) is specified as applicable in the applicable Final Terms, then:
(i) if the Custom Index Adjustment Event is a Custom Index Disruption which occurs or is occurring on the last Valuation Date, last Averaging Date or last Observation Date, then the Valuation Date, Averaging Date or Observation Date, as the case may be, for each Custom Index not affected by the occurrence of the Custom Index Disruption shall be the scheduled last Valuation Date, last Averaging Date or last Observation Date, as the case may be, and the Valuation Date, Averaging Date or Observation Date, as the case may be, for each Custom Index in the Basket affected by the Custom Index Disruption (each an "Affected Custom Index") shall be the first succeeding Scheduled Custom Index Business Day on which a Custom Index Disruption is not occurring in respect of such Affected Custom Index, unless there is a Custom Index Disruption on each of the number of consecutive Scheduled Custom Index Business Days equal to the Specified Maximum Days of Disruption immediately following the scheduled Valuation Date, Averaging Date or Observation Date, as the case may be, in which case the last such consecutive Scheduled Custom Index Business Day shall be deemed to be the Valuation Date, Averaging Date or Observation Date, as the case may be, for the relevant Affected Custom Index and the Calculation Agent shall determine the relevant level, value or price by using commercially reasonable efforts to determine the level of the relevant Affected Custom Index as of the Valuation Time on the last such consecutive Scheduled Custom Index Business Day in accordance with the formulae for and method of calculating the relevant Affected Custom Index last in effect prior to the occurrence of the Custom Index Disruption and using its good faith estimate of the value for the components of the Affected Custom Index;
(ii) following a Custom Index Modification or Custom Index Cancellation at any time or a Custom Index Disruption (which in the latter case occurs or is occurring on the Strike Date, an
Averaging Date (other than the last Averaging Date) or an Observation Date (other than the last Observation Date) the Calculation Agent shall determine if such Custom Index Adjustment Event has a material effect on the Securities and, if so:
(A) if the Custom Index Adjustment Event is a Custom Index Disruption which occurs or is occurring on the Strike Date, an Averaging Date or Observation Date, the Calculation Agent may determine that the Strike Date, relevant Averaging Date or Observation Date, as the case may be, for each Custom Index in the Basket not affected by the occurrence of the Custom Index Disruption shall be the scheduled Strike Date, Averaging Date or Observation Date, as the case may be, and the Strike Date, Averaging Date or Observation Date, as the case may be, for each Custom Index in the Basket affected by the Custom Index Disruption (each an "Affected Custom Index") shall be the first succeeding Scheduled Custom Index Business Day (in the case of the Strike Date) or Valid Date (in the case of an Averaging Date or Observation Date, as the case may be) on which a Custom Index Disruption is not occurring in respect of such Affected Custom Index unless there is a Custom Index Disruption on each of the number of consecutive Scheduled Custom Index Business Days equal to the Specified Maximum Days of Disruption immediately following the scheduled Strike Date, Averaging Date or Observation Date, as the case may be, in which case the Calculation Agent may determine that the last such consecutive Scheduled Custom Index Business Day shall be deemed to be the Strike Date, Averaging Date or Observation Date, as the case may be (irrespective, in the case of an Averaging Date or Observation Date, of whether that last consecutive Scheduled Custom Index Business Day is already an Averaging Date or Observation Date, as the case may be) for the relevant Affected Custom index and may determine the relevant level, value or price by using commercially reasonable efforts to determine a level of the relevant Affected Custom Index as of the Valuation Time on the last such consecutive Scheduled Custom Index Business Day in accordance with the formulae for and method of calculating the relevant Affected Custom Index last in effect prior to the occurrence of the Custom Index Disruption and using its good faith estimate of the value for the components of the Custom Index; or
(B) the Calculation Agent may use commercially reasonable efforts to select a successor index with a substantially similar strategy as the original Custom Index and, upon selection of such index, the Calculation Agent shall promptly notify the Holders and such index shall become the Successor Custom Index and shall be deemed to be the "Custom Index" for the purpose of the Securities and the Calculation Agent will make such adjustment, if any, to one or more of the terms of the Securities as the Calculation Agent in its sole and absolute discretion determines appropriate; or
(C) the Calculation Agent may determine in its sole and absolute discretion such other appropriate adjustments, if any, to be made to the terms of the Securities to account for the Custom Index Adjustment Event and determine the effective date of those adjustments; or
(D) in the case of Warrants, the Calculation Agent may require the Issuer to cancel the Warrants, in which case it will so notify the Issuer and the Issuer will give notice to Holders in accordance with W&C Security Condition Error! Reference source not found.. If the Warrants are so cancelled, the Issuer will pay an amount to each Holder in respect of each Warrant being cancelled at an amount equal to the fair market value of a Warrant, taking into account the Custom Index Adjustment Event, less the cost to the Issuer and/or its Affiliates of unwinding any underlying related hedging arrangements, all as determined by the Calculation Agent in its sole and absolute discretion. Payments will be made in such manner as shall be notified to the Holders in accordance with W&C Security Condition Error! Reference source not found.; or
(E) in the case of Notes or Certificates;
unless Delayed Redemption on Occurrence of Custom Index Adjustment Event is specified as being applicable in the applicable Final Terms, the Issuer may require the Issuer to redeem the Securities, which case it will so notify the Issuer and the Issuer will give notice to the Holders in accordance with W&C Security Condition Error! Reference source not found. or Note Condition Error! Reference source not found., as applicable. If the Securities are so redeemed, the Issuer will pay an amount to each Holder in respect of each Security being redeemed at an amount equal to the fair market value of such Security taking into account the Custom Index Adjustment Event, less the cost to the Issuer and/or its Affiliates of unwinding any underlying related hedging arrangements, all as determined by the Calculation Agent in its sole and absolute discretion. Payments will be made in such manner as shall be notified to the Holders in accordance with W&C Security Condition Error! Reference source not found. or Note Condition Error! Reference source not found., as applicable; or
if Delayed Redemption on Occurrence of Custom Index Adjustment Event is specified as being applicable in the applicable Final Terms, the Calculation Agent shall calculate the fair market value of each Security taking into account the Custom Index Adjustment Event less the cost to the Issuer and/or its Affiliates of unwinding any underlying related hedging arrangements (the "Calculated Custom Index Adjustment Event Amount") as soon as practicable following the occurrence of the Custom Index Adjustment Event (the "Calculated Custom Index Adjustment Event Amount Determination Date") and on the Redemption Date (in the case of Certificates) or the Maturity Date (in the case of Notes) shall redeem each Security at an amount calculated by the Calculation Agent equal to the Calculated Custom Index Adjustment Event Amount plus interest accrued from and including the Calculated Custom Index Adjustment Event Amount Determination Date to but excluding the Redemption Date (in the case of Certificates) or the Maturity Date (in the case of Notes) at a rate equal to the Issuer's funding cost at such time; or
(F) in the case of a Custom Index Modification which occurs in respect of a Custom Index in the Basket on the last Valuation Date, last Averaging Date or last Observation Date only, the Calculation Agent may elect to calculate the level of such Custom Index, using in lieu of the published level for the Custom Index as of the Valuation Date, Averaging Date or Observation Date, as the case may be, the level of the Custom Index as of that date determined by the Calculation Agent in accordance with the formula for and method of calculating the Custom Index last in effect prior to the Custom Index Modification but using only those components that comprised the Custom Index prior to the Custom Index Modification.
Notice
The Calculation Agent shall, as soon as practicable, notify the relevant Security Agent or the Registrar, as the case may be, of any determination made by it pursuant to Index Security Condition 0 above and the action proposed to be taken in relation thereto and such Security Agent or the Registrar, as the case may be, shall make available for inspection by Holders copies of any such determinations.
Correction of Custom Index
With the exception of any corrections published after the day which is three Scheduled Custom Index Business Days prior to the due date for any payment under the Securities calculated by reference to the level of a Custom Index, if the level of the Custom Index published on a given day and used or to be used by the Calculation Agent to make any determination under the Securities, is subsequently corrected and the correction published by the relevant Index Sponsor within the number of days equal to the Custom Index Correction Period of the original publication, the level to be used shall be the
level of the Custom Index as so corrected. Corrections published after the day which is three Scheduled Custom Index Business Days prior to a due date for payment under the Securities calculated by reference to the level of the Custom Index will be disregarded by the Calculation Agent for the purposes of determining the relevant amount to be paid.
Definitions relating to Custom Indices
"Averaging Date" means the dates specified as such in the applicable Final Terms or, if any such day is not a Scheduled Custom Index Business Day, the immediately succeeding Scheduled Custom Index Business Day unless, in the opinion of the Calculation Agent, such day is a Disrupted Day, in which case the provisions of Index Security Condition 0 (Modification and Cessation of Calculation of a Custom Index and Custom Index Disruption) shall apply;
"Banking Day" means any week day except for 25 December and 1 January in any year;
"Basket" and "Basket of Custom Indices" means a basket comprised of two or more Custom Indices;
"Closing Level" means, in respect of a Custom Index and a Customs Index Business Day, the level of such Custom Index published by the Index Sponsor in respect of such day as determined by the Calculation Agent, subject as provided in Security Condition 0 (Adjustments to a Custom Index and Custom Index Disruption);
"Custom Index" or "Custom Indices" mean, subject to adjustment in accordance with this Annex Error! Reference source not found., any index or indices specified as such in the applicable Final Terms, or if not so specified, any Index which the Calculation Agent determines to be such an Index;
"Custom Index Business Day" means either (a) in the case of a single Index, Custom Index Business Day (Single Index Basis) or (b) in the case of a Basket of Indices, Custom Index Business Day (All Indices Basis) or Custom Index Business Day (Per Index Basis), in each case as specified in the applicable Final Terms, provided that if no such specification is made in the applicable Final Terms, Custom Index Business Day (All Indices Basis) shall apply;
"Custom Index Business Day (All Indices Basis)" means any Scheduled Custom Index Business Day in respect of which (a) the level of the Index is calculated and made available and (b) it is a Custom Index Trading Day in respect of all Indices in the Basket;
"Custom Index Business Day (Per Index Basis)" means, in respect of an Index, any Scheduled Custom Index Business Day in respect of which (a) the level of the Index is calculated and made available and (b) it is Custom Index Trading Day;
"Custom Index Business Day (Single Index Basis)" means any Scheduled Custom Index Business Day on which (a) the level of the Index is calculated and made available and (b) it is a Custom Index Trading Day;
"Custom Index Correction Period" means the period specified in the applicable Final Terms or if none is so specified, ten (10) Scheduled Custom Index Business Days following the date on which the original level was calculated and made available by the Index Sponsor and being the date after which all corrections to the level of the Index shall be disregarded for the purposes of any calculations to be made using the level of the Index;
"Custom Index Trading Day" means, in respect of a Custom Index, any day with respect to which the Issuer and/or any of its Affiliates determines in its sole and absolute discretion it is able to acquire, establish, re-establish, substitute, maintain, unwind or dispose of any asset it deems necessary to hedge its obligations in respect of such Index under the Securities;
"Disrupted Day" means any Scheduled Custom Index Business Day on which a Custom Index Disruption has occurred or is continuing in the sole and absolute discretion of the Calculation Agent;
"Index Sponsor" means, in relation to a Custom Index, the corporation or other entity that (a) is responsible for setting and reviewing the rules and procedures and the methods of calculation and adjustments, if any, related to such Custom Index and (b) ensures the calculation and publication of the level of such Custom Index on a regular basis (directly or through an agent) in accordance with the rules of the Custom Index, which as of the Issue Date of the Securities is the index sponsor specified for such Custom Index in the applicable Final Terms;
"Intraday Level" means, in respect of a Custom Index and any time on a Custom Index Business Day, the level of such Custom Index published by the Index Sponsor in respect of such time or such day as determined by the Calculation Agent, subject as provided in Index Security Condition 0 (Adjustments to a Custom Index and Custom Index Disruption);
"Observation Date" means the dates specified as such in the applicable Final Terms or, if any such day is not a Scheduled Custom Index Business Day, the immediately succeeding Scheduled Custom Index Business Day unless, in the opinion of the Calculation Agent, such day is a Disrupted Day, in which case the provisions of Index Security Condition 0 (Modification and Cessation of Calculation of a Custom Index and Custom Index Disruption) below shall apply;
"Observation Period" means the period specified as the Observation Period in the applicable Final Terms;
"Scheduled Custom Index Business Day" means either (a) in the case of a single Index, Scheduled Custom Index Business Day (Single Index Basis) or (b) in the case of a Basket of Custom Indices, Scheduled Custom Index Business Day (All Indices Basis) or Scheduled Custom Index Business Day (Per Index Basis), in each case as specified in the applicable Final Terms, provided that if no such specification is made in the applicable Final Terms, Scheduled Custom Index Business Day (All Indices Basis) shall apply;
"Scheduled Custom Index Business Day (All Indices Basis)" means any Banking Day (a) in respect of which the level of the Index is scheduled to be calculated and made available and (b) that is a Custom Index Trading Day in respect of all Custom Indices in the Basket;
"Scheduled Custom Index Business Day (Per Index Basis)" means in respect of an Index, any Banking Day (a) on which the level of the Index is scheduled to be calculated and made available and
(b) that is a Custom Index Trading Day;
"Scheduled Custom Index Business Day (Single Index Basis)" means any Banking Day on which
(a) the level of the Index is scheduled to be calculated and made available and (b) that is a Custom Index Trading Day;
"Settlement Price" means, unless otherwise stated in the applicable Final Terms, in relation to each Cash Settled Security, subject to the provisions of this Annex and as referred to in "Valuation Date" or "Averaging Date" or "Observation Date", as the case may be:
in the case of Index Securities relating to a Basket of Custom Indices and in respect of each Index comprising the Basket of Custom Indices, an amount (which shall be deemed to be a monetary value in the Index Currency) equal to the level for each such Index as determined by the Calculation Agent or, if so specified in the applicable Final Terms, the level of each such Index determined by the Calculation Agent as set out in the applicable Final Terms at the Valuation Time on (a) if Averaging is not specified in the applicable Final Terms, any of the "Strike Date", "Knock-in Determination Day", "Knock-out Determination Day", "Observation Date" or the Valuation Date or (b) if Averaging is specified in the applicable Final Terms, an Averaging Date and, in either case, multiplied by the relevant Weighting; and
in the case of Index Securities relating to a single Index, an amount equal to the level of the Index as published by the Index Sponsor as determined by the Calculation Agent or, if so specified in the applicable Final Terms, the level of the Index determined by the Calculation Agent as set out in the applicable Final Terms at the Valuation Time on (a) if Averaging is not specified in the applicable Final Terms, any of the "Strike Date", "Knock-in Determination Day", "Knock-out Determination Day", "Observation Date" or the Valuation Date or (b) if Averaging is specified in the applicable Final Terms, an Averaging Date;
"Specified Maximum Days of Disruption" means the number of days specified in the applicable Final Terms, or if not so specified, 20 Scheduled Custom Index Business Days;
"Strike Date" means the date(s) specified as such in the applicable Final Terms or, if any such day is not a Scheduled Custom Index Business Day, the immediately succeeding Scheduled Custom Index Business Day unless, in the opinion of the Calculation Agent, such day is a Disrupted Day, in which case the provisions of Index Security Condition 0 (Modification and Cessation of Calculation of a Custom Index and Custom Index Disruption) below shall apply;
"Strike Price" means, subject as referred to in "Strike Date" above:
in the case of Index Securities relating to a single Index, an amount equal to the level of the Index as published by the Index Sponsor as determined by the Calculation Agent or, if so specified in the applicable Final Terms, the level of the Index determined by the Calculation Agent as set out in the applicable Final Terms at the Valuation Time on the Strike Date; and
in the case of Index Securities relating to a Basket of Custom Indices and in respect of each Index comprising the Basket, an amount equal to the level of each such Index published by the relevant Index Sponsor, in each case as determined by the Calculation Agent or, if so specified in the applicable Final Terms, the level of such Index determined by the Calculation Agent as set out in the applicable Final Terms at the Valuation Time on the Strike Date multiplied by the relevant Weighting.
"Valid Date" means a Scheduled Custom Index Business Day that is not a Disrupted Day and on which another Averaging Date or another Observation Date does not occur;
"Valuation Date" means, the date (in the case of Warrants), or the Interest Valuation Date and/or Automatic Early Redemption Valuation Date and/or Redemption Valuation Date (in the case of Notes and Certificates), as the case may be, specified in the applicable Final Terms or, if such day is not a Scheduled Custom Index Business Day, the immediately succeeding Scheduled Custom Index Business Day unless, in the opinion of the Calculation Agent, such day is a Disrupted Day, in which case the provisions of Index Security Condition 0 (Modification and Cessation of Calculation of a Custom Index and Custom Index Disruption) shall apply;
"Valuation Time" means, unless otherwise specified in the applicable Final Terms, the time by reference to which the Index Sponsor determines the level of the Index in its sole and absolute discretion.
Futures Price Valuation
If "Futures Price Valuation" is specified as applicable in relation to an Index in the applicable Final Terms, in respect of such Index, the following provisions shall apply to these Index Security Conditions:
"Settlement Price" means, in relation to each Cash Settled Security or, in the case of Warrants, if Units are specified in the applicable Final Terms, each Unit, as the case may be, subject to the provisions of this Error! Reference source not found.:
in the case of Index Securities relating to a Basket of Indices and in respect of each Index comprising the Basket of Indices, an amount (which shall be deemed to be a monetary value in the same currency as the Exercise Price (in the case of Warrants) or the Index Currency (in the case of Notes and Certificates)) equal to the Official Settlement Price of the relevant Current Exchange-traded Contract in respect of such Index as determined by the Calculation Agent on (i) if Averaging is not specified in the applicable Final Terms, the relevant Settlement Price Date or (ii) if Averaging is specified in the applicable Final Terms, an Averaging Date and, in either case, multiplied by the relevant Weighting; and
in the case of Index Securities relating to a single Index, an amount (which shall be deemed to be a monetary value in the same currency as the Exercise Price (in the case of Warrants) or the Index Currency (in the case of Notes and Certificates)) equal to the Official Settlement Price of the relevant Current Exchange-traded Contract in respect of the Index as determined by the Calculation Agent on
(i) if Averaging is not specified in the applicable Final Terms, the relevant Settlement Price Date or
(ii) if Averaging is specified in the applicable Final Terms, an Averaging Date.
For the purposes of determining whether a day is a Scheduled Trading Day where Futures Price Valuation applies in relation to any Index or (in the case of a Basket of Indices any constituent Index) any reference to such Index or constituent Index in the definition of Scheduled Trading Day will be deemed not to apply and instead a Scheduled Trading Day must be a day on which the Official Settlement Price is published by the relevant Futures or Options Exchange in relation to each such Index to which Futures Price Valuation applies.
The Disrupted Day provisions in these Index Security Conditions will not apply in relation to any Index or (in the case of a Basket of Indices, any Index comprising the Basket) in respect of which Futures Price Valuation applies, unless there is a Non-Commencement or Discontinuance of the Exchange-traded Contract, in which case the Disrupted Day provisions will apply to the relevant Index or constituent Index.
For these purposes:
"Current Exchange-traded Contract" means (a) if the Securities are not Rolling Futures Contract Securities, the Exchange-traded Contract and (b) if the Securities are Rolling Futures Contract Securities, the futures contract determined pursuant to Index Security Condition 0 (Rolling Futures Contract Securities) below.
"Exchange-traded Contract" means, in relation to an Index, the futures or options contract(s) specified as such for the Index in the applicable Final Terms, in each case,
identified by reference to (a) the Index to which it relates, (b) the Futures or Options Exchange on which each such contract is traded and (c)(i) if the Securities are not Rolling Futures Contract Securities, the delivery or expiry month of such contract or (ii) if the Securities are Rolling Futures Contract Securities, the specified period of each such contract and the Futures Rollover Date.
"Futures or Options Exchange" means, in respect of an Index, the relevant exchange specified in the description of the Exchange-traded Contract for such Index in the applicable Final Terms.
"Futures Rollover Date" means either:
the date specified as such in the applicable Final Terms; or
the date selected by the Calculation Agent in its sole and absolute discretion within the period (“Futures Rollover Period”) specified in the applicable Final Terms.
"Non-Commencement or Discontinuance of the Exchange-traded Contract" means there is no Official Settlement Price as a result of the fact that trading in the Exchange-traded Contract never commences or is permanently discontinued at any time on or prior to Valuation Date, Observation Date, Averaging Date or other date for valuation or observation or other relevant date, as the case may be, of the relevant Index.
"Official Settlement Price" means the official settlement price (howsoever described under the rules of the relevant Futures or Options Exchange or its clearing house) of the relevant Exchange-traded Contract published by the relevant Futures or Options Exchange or its clearing house and as determined by the Calculation Agent.
Rolling Futures Contract Securities
If the applicable Final Terms specify that the Securities are "Rolling Futures Contract Securities", the Securities will be valued by reference to futures contracts relating to the Index that have delivery or expiry months that do not correspond with the term of the Securities. In such case, on or prior to the Issue Date, the Calculation Agent will select an Exchange-traded Contract and for each following day until the Futures Rollover Date such futures contract will be the Current Exchange-traded Contract. On each Futures Rollover Date the Calculation Agent will select another Exchange-traded Contract and such contract shall be the Current Exchange-traded Contract until the next occurring Futures Rollover Date. Notwithstanding the provisions of 9.3 (Adjustments to an Exchange-traded Contract) or 9.4 (Non-Commencement or Discontinuance of an Exchange-traded Contract) if on a Futures Rollover Date a Non-Commencement or Discontinuance of an Exchange-traded Contract occurs and it is impossible or materially impracticable for the Calculation Agent to select an Exchange-traded Contract and/or at such time hedge the Issuer's obligations in respect of the Securities then:
(g) in the case of Warrants, the Issuer may cancel the Warrants by giving notice to Holders in accordance with W&C Security Condition Error! Reference source not found.. If the Warrants are so cancelled, the Issuer will pay an amount to each Holder in respect of each Warrant, or if Units are specified in the applicable Final Terms, each Unit being cancelled at an amount equal to the fair market value of a Warrant or a Unit, as the case may be, taking into account the Non-Commencement or Discontinuance of the Exchange-traded Contract, less the cost to the Issuer