FINAL TERMS DATED 3 FEBRUARY 2015 BNP Paribas Arbitrage Issuance BV

73 Pages·2015·0.94 MB·English

FINAL TERMS DATED 3 FEBRUARY 2015
BNP Paribas Arbitrage Issuance B.V.
(incorporated in The Netherlands)
(as Issuer)
BNP Paribas
(incorporated in France)
(as Guarantor)
(Warrant and Certificate Programme)
EUR "Open End 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 Non-exempt Offer Jurisdictions mentioned in Paragraph 35 of Part A below, provided such person is a
Manager or an Authorised Offeror (as such term is defined in the Base Prospectus) and that the offer is made
during the Offer Period specified in that paragraph and that any conditions relevant to the use of the Base
Prospectus are complied with; 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 nor, the Guarantor or any Manager has authorised, nor do they authorise, the making of any offer of
Securities in any other circumstances.
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 22 August 2014, each Supplement 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"). 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, any Supplement(s) to the Base Prospectus and these Final
Terms are available for viewing, respectively, on the following websites: www.bnpparibasmarkets.nl for public offering in the
Netherlands and www.bnpparibasmarkets.be for public offering in Belgium and copies may be obtained free of charge at the
specified offices of the Security Agents.
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.
1 / 14
SPECIFIC PROVISIONS FOR EACH SERIES

Series No. of No. of Common Mnemon Issue Price Call Exercise Price Capitalised Security Security Interbank Financing Delivery or Futures or Redemptio Parity
Number / ISIN Securities Securities Code ic Code per / Exercise Price Threshold Percentage Rate 1 Rate expiry Options n Date
Code issued Security Put Rounding Rule Rounding Screen Percentage month Exchange
Rule Page
NL0010930616 500,000 500,000 114528919 BW59B Upwards -1 EURIBOR1 100
EUR 5.15 Call EUR 10,281.55 Upwards 2 digits 3% +2% - Eurex Open End
digits M=
NL0010930624 500,000 500,000 114529583 BW60B Upwards -1 EURIBOR1 100
EUR 4.67 Call EUR 10,330.09 Upwards 2 digits 3% +2% - Eurex Open End
digits M=
NL0010930632 250,000 250,000 114528897 BW61B Upwards 0 EURIBOR1 10
EUR 4.22 Call EUR 539.04 Upwards 2 digits 5% +2% - Eurex Open End
digit M=
NL0010930640 1,500,000 1,500,000 114528862 BW62B Downwards 2 Downwards EURIBOR1 Euronext 10
EUR 2.65 Put EUR 478.38 2% -2% - Open End
digits 0 digit M= Derivatives
NL0010930657 1,500,000 1,500,000 114528846 BW63B Downwards 2 Downwards EURIBOR1 Euronext 10
EUR 2.85 Put EUR 480.42 2% -2% - Open End
digits 0 digit M= Derivatives
NL0010930665 1,500,000 1,500,000 114529567 BW64B Downwards 2 Downwards EURIBOR1 Euronext 10
EUR 2.95 Put EUR 481.44 2% -2% - Open End
digits 0 digit M= Derivatives
NL0010930673 1,500,000 1,500,000 114529095 BW65B Downwards 2 Downwards EURIBOR1 Euronext 10
EUR 3.05 Put EUR 482.46 2% -2% - Open End
digits 0 digit M= Derivatives
NL0010930681 1,500,000 1,500,000 114529087 BW66B Downwards 2 Downwards EURIBOR1 Euronext 10
EUR 3.16 Put EUR 483.48 2% -2% - Open End
digits 0 digit M= Derivatives
NL0010930699 1,500,000 1,500,000 114529532 BW67B Downwards 2 Downwards EURIBOR1 Euronext 10
EUR 3.26 Put EUR 484.50 2% -2% - Open End
digits 0 digit M= Derivatives
NL0010930707 1,500,000 1,500,000 114528811 BW68B Downwards 2 Downwards EURIBOR1 Euronext 10
EUR 4.28 Put EUR 494.70 2% -2% - Open End
digits 0 digit M= Derivatives
NL0010930715 1,500,000 1,500,000 114528790 BW69B Downwards 2 Downwards EURIBOR1 Euronext 10
EUR 5.30 Put EUR 504.90 2% -2% - Open End
digits 0 digit M= Derivatives
NL0010930723 500,000 500,000 114528765 BW70B Downwards 2 Downwards EURIBOR1 100
EUR 12.90 Put EUR 12,087.00 3% -2% - Eurex Open End
digits -1 digits M=
NL0010930731 500,000 500,000 114528749 BW71B Downwards 2 Downwards EURIBOR1 100
EUR 17.49 Put EUR 12,546.00 3% -2% - Eurex Open End
digits -1 digits M=
NL0010930749 500,000 500,000 114529516 BW72B Downwards 2 Downwards EURIBOR1 100
EUR 19.53 Put EUR 12,750.00 3% -2% - Eurex Open End
digits -1 digits M=
NL0010930756 500,000 500,000 114528714 BW73B Downwards 2 Downwards EURIBOR1 100
EUR 24.63 Put EUR 13,260.00 3% -2% - Eurex Open End
digits -1 digits M=
NL0010930764 250,000 250,000 114529494 BW74B Downwards 2 10
Downwards USDLIBOR All
EUR 7.72 Put USD 2,082.48 digits 3% -2% - Open End
-1 digits 1M= Exchanges

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Series No. of No. of Common Mnemon Issue Price Call Exercise Price Capitalised Security Security Interbank Financing Delivery or Futures or Redemptio Parity
Number / ISIN Securities Securities Code ic Code per / Exercise Price Threshold Percentage Rate 1 Rate expiry Options n Date
Code issued Security Put Rounding Rule Rounding Screen Percentage month Exchange
Rule Page
NL0010930780 250,000 250,000 114529443 BW76B Downwards 2 Downwards EURIBOR1 100
EUR 3.01 Put EUR 3,672.00 3% -2% - Eurex Open End
digits -1 digits M=
NL0010930806 250,000 250,000 114529435 BW78B Downwards 2 Downwards EURIBOR1 100
EUR 4.54 Put EUR 3,825.00 3% -2% - Eurex Open End
digits -1 digits M=
NL0010930814 250,000 250,000 114529052 BW79B Downwards 2 Downwards EURIBOR1 100
EUR 5.56 Put EUR 3,927.00 3% -2% - Eurex Open End
digits -1 digits M=
NL0010930822 500,000 500,000 114529044 BW80B Downwards 2 Downwards USDLIBOR All 100
EUR 6.91 Put USD 17,948.46 3% -2% - Open End
digits -1 digits 1M= Exchanges
NL0010930830 250,000 250,000 114528684 BW81B Downwards 2 Downwards EURIBOR1 10
EUR 7.23 Put EUR 402.11 5% -2% - Eurex Open End
digits 0 digit M=
NL0010930848 250,000 250,000 114529419 BW82B Downwards 2 Downwards EURIBOR1 10
EUR 6.40 Put EUR 645.27 5% -2% - Eurex Open End
digits 0 digit M=
NL0010930863 250,000 250,000 114529028 BW84B Downwards 2 Downwards EURIBOR1 10
EUR 6.86 Put EUR 503.16 5% -2% - Eurex Open End
digits 0 digit M=
NL0010930871 250,000 250,000 114529354 BW85B Downwards 2 Downwards EURIBOR1 10
EUR 7.35 Put EUR 413.69 5% -2% - Eurex Open End
digits 0 digit M=
NL0010930889 250,000 250,000 114528668 BW86B Downwards 2 Downwards EURIBOR1 10
EUR 8.57 Put EUR 412.64 5% -2% - Eurex Open End
digits 0 digit M=
NL0010930897 250,000 250,000 114529001 BW87B Downwards 2 Downwards EURIBOR1 10
EUR 2.46 Put EUR 376.85 5% -2% - Eurex Open End
digits 0 digit M=

Series Number / Index Index ISIN of Index Reuters Index Sponsor Index Sponsor Website Exchange Exchange Website Conversion
ISIN Code Currency Code of Rate
Index
NL0010930616 DAX® EUR DE0008469008 .GDAXI Deutsche Börse AG www.dax-indices.com Frankfurt Stock Exchange / XETRA www.boerse-frankfurt.de 1
NL0010930624 DAX® EUR DE0008469008 .GDAXI Deutsche Börse AG www.dax-indices.com Frankfurt Stock Exchange / XETRA www.boerse-frankfurt.de 1
NL0010930632 STOXX® 600 EUR EU0009658681 .SXAP STOXX Limited www.stoxx.com As set out in Annex 2 for a Composite / 1
Automobiles & Parts Index
NL0010930640 AEX® EUR NL0000000107 .AEX Euronext N.V. www.euronext.com Euronext Amsterdam www.euronext.com 1
NL0010930657 AEX® EUR NL0000000107 .AEX Euronext N.V. www.euronext.com Euronext Amsterdam www.euronext.com 1
NL0010930665 AEX® EUR NL0000000107 .AEX Euronext N.V. www.euronext.com Euronext Amsterdam www.euronext.com 1
NL0010930673 AEX® EUR NL0000000107 .AEX Euronext N.V. www.euronext.com Euronext Amsterdam www.euronext.com 1
NL0010930681 AEX® EUR NL0000000107 .AEX Euronext N.V. www.euronext.com Euronext Amsterdam www.euronext.com 1
NL0010930699 AEX® EUR NL0000000107 .AEX Euronext N.V. www.euronext.com Euronext Amsterdam www.euronext.com 1
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Series Number / Index Index ISIN of Index Reuters Index Sponsor Index Sponsor Website Exchange Exchange Website Conversion
ISIN Code Currency Code of Rate
Index
NL0010930707 AEX® EUR NL0000000107 .AEX Euronext N.V. www.euronext.com Euronext Amsterdam www.euronext.com 1
NL0010930715 AEX® EUR NL0000000107 .AEX Euronext N.V. www.euronext.com Euronext Amsterdam www.euronext.com 1
NL0010930723 DAX® EUR DE0008469008 .GDAXI Deutsche Börse AG www.dax-indices.com Frankfurt Stock Exchange / XETRA www.boerse-frankfurt.de 1
NL0010930731 DAX® EUR DE0008469008 .GDAXI Deutsche Börse AG www.dax-indices.com Frankfurt Stock Exchange / XETRA www.boerse-frankfurt.de 1
NL0010930749 DAX® EUR DE0008469008 .GDAXI Deutsche Börse AG www.dax-indices.com Frankfurt Stock Exchange / XETRA www.boerse-frankfurt.de 1
NL0010930756 DAX® EUR DE0008469008 .GDAXI Deutsche Börse AG www.dax-indices.com Frankfurt Stock Exchange / XETRA www.boerse-frankfurt.de 1
NL0010930764 S&P 500® USD US78378X1072 .SPX S&P Dow Jones Indices www.eu.spindices.com As set out in Annex 2 for a Composite / EUR / USD
LLC ("SPDJI") Index
NL0010930780 EuroStoxx 50® EUR EU0009658145 .STOXX50E Stoxx Limited www.stoxx.com As set out in Annex 2 for a Composite / 1
Index
NL0010930806 EuroStoxx 50® EUR EU0009658145 .STOXX50E Stoxx Limited www.stoxx.com As set out in Annex 2 for a Composite / 1
Index
NL0010930814 EuroStoxx 50® EUR EU0009658145 .STOXX50E Stoxx Limited www.stoxx.com As set out in Annex 2 for a Composite / 1
Index
NL0010930822 Dow Jones Industrial USD US2605661048 .DJI S&P Dow Jones Indices www.eu.spindices.com New York Stock Exchange (NYSE) www.nyse.com EUR / USD
Average® LLC ("SPDJI")
NL0010930830 STOXX® 600 Utilities EUR EU0009658962 .SX6P STOXX Limited www.stoxx.com As set out in Annex 2 for a Composite / 1
Index
NL0010930848 STOXX® 600 EUR EU0009658681 .SXAP STOXX Limited www.stoxx.com As set out in Annex 2 for a Composite / 1
Automobiles & Parts Index
NL0010930863 STOXX® 600 Ind Goods EUR EU0009658905 .SXNP STOXX Limited www.stoxx.com As set out in Annex 2 for a Composite / 1
& Service Index
NL0010930871 STOXX® 600 Retail EUR CH0019112553 .SXRP STOXX Limited www.stoxx.com As set out in Annex 2 for a Composite / 1
Index
NL0010930889 STOXX® 600 EUR EU0009658921 .SX8P STOXX Limited www.stoxx.com As set out in Annex 2 for a Composite / 1
Technology Index
NL0010930897 STOXX® 600 EUR EU0009658947 .SXKP STOXX Limited www.stoxx.com As set out in Annex 2 for a Composite / 1
Telecommunications Index
4 / 14
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: 2 February 2015.

4. Issue Date: 3 February 2015.

5. Consolidation: Not applicable.

6. Type of Securities: (a) Certificates.

(b) The Securities are Index Securities.

The provisions of Annex 2 (Additional Terms and Conditions for Index
Securities) and Annex 7 (Additional Terms and Conditions for OET
Certificates) shall apply.
7. Form of Securities: Dematerialised bearer form (au porteur).

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
Rounding Convention 2.
Settlement Amount:

11. Variation of Settlement:

Issuer's option to vary settlement: The Issuer does not have the option to vary settlement in respect of the
Securities.
12. Final Payout: ETS Final Payout 2210.

Call Securities or Put Securities.
Aggregation: Not applicable.

13. Relevant Asset(s): Not applicable.

14. Entitlement: Not applicable.

15. Conversion Rate: The Conversion Rate on the Valuation Date or an Optional Redemption
Valuation Date equals one if the relevant Index Currency is the same as
the Settlement Currency or otherwise the rate published by the European
Central Bank (website: www.ecb.europa.eu) between the relevant Index
Currency and the Settlement Currency as determined by the Calculation
Agent by reference to such sources and at such time on the relevant day
as the Calculation Agent may determine acting in good faith and in a
commercially reasonable manner.
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.

20. Calculation Agent: BNP Paribas Arbitrage S.N.C.
160-162 boulevard MacDonald, 75019 Paris, France.
21. Governing law: French law.

22. Masse provisions (Condition 9.4): Not applicable.

PRODUCT SPECIFIC PROVISIONS

23. Index Securities: Applicable.

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(a) Index/Basket of
See the Specific Provisions for each Series above.
Indices/Index Sponsor(s):

(b) Index Currency: See the Specific Provisions for each Series above.

(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: Index Condition 9.1 applies.

(i) Specified Maximum Days
Twenty (20) Scheduled Trading Days.
of Disruption:

(j) Valuation Time: The Scheduled Closing Time on the relevant Futures or Options
Exchange in respect of the Current Exchange-traded Contract on the
relevant Settlement Price Date.
(k) Delayed Redemption on
Occurrence of an Index Not applicable.
Adjustments Event:

(l) Index Correction Period: As per Conditions.

(m) Additional provisions
applicable to Custom Not applicable.
Indices:

(n) Additional provisions
applicable to Futures Applicable.
Price Valuation:

(i) Exchange-traded The futures contract relating to the Index published by the Futures or
Contract: Options Exchange on the delivery or expiry month.

(ii) Delivery or expiry The delivery or expiry month of the relevant Exchange-traded Contract
month: maturing on the Settlement Price Date.

(iii) Period of Exchange-
Not applicable.
traded Contracts:

(iv) Futures or Options
See the Specific Provisions for each Series above.
Exchange:

(v) Rolling Futures
No.
Contract Securities:

(vi) Futures Rollover
Not applicable.
Period:

(vii) Relevant FTP Screen
Not applicable.
Page:

(viii) Relevant Futures or
Options Exchange Not applicable.
Website:

24. Share Securities: Not applicable.

25. Commodity Securities: Not applicable.

26. Currency Securities: Not applicable.

27. Futures Securities: Not applicable.

28. OET Certificates: Applicable.

(a) Final Price: As per OET Certificate Conditions.

6 / 14
(b) Valuation Date: As per OET Certificate Conditions.

(c) Exercise Price: See the Specific Provisions for each Series above.

(d) Capitalised Exercise As per OET Certificate Conditions.
Price:
OET Website(s):
www.bnpparibasmarkets.nl
www.bnpparibasmarkets.be

Local Business Day Centre(s): Paris.
(e) Capitalised Exercise
See the Specific Provisions for each Series above.
Price Rounding Rule:

(f) Dividend Percentage: 100 per cent.

(g) Financing Rate:

(i) Interbank Rate 1
See the Specific Provisions for each Series above.
Screen Page:

(ii) Interbank Rate 1
As per OET Certificate Conditions.
Specified Time:

(iii) Interbank Rate 2
Not applicable.
Screen Page:

(iv) Interbank Rate 2
Not applicable.
Specified Time:

(v) Financing Rate
See the Specific Provisions for each Series above.
Percentage:

(vi) Financing Rate In respect of Call Securities: 0% / +10%.
Range: In respect of Put Securities: -10% / 0%.

(h) Automatic Early
Applicable.
Redemption:

(i) Automatic Early
Automatic Early Redemption Payout 2210/1.
Redemption Payout:

(ii) Automatic Early
The fifth Business Days following the Valuation Date.
Redemption Date:

(iii) Observation Price: Official level.

(iv) Observation Price
Index Sponsor.
Source:

(v) Observation Price
At any time during the opening hours of the Exchange.
Time(s):

(vi) Security Threshold: As per OET Certificate Conditions.

The Security Threshold in respect of a Relevant Business Day will be
published as soon as practicable after its determination on the OET
Website(s), as set out in § 28(d).
(vii) Security Threshold
See the Specific Provisions for each Series above.
Rounding Rule:

(viii) Security Percentage: See the Specific Provisions for each Series above.

(ix) Minimum Security
0%
Percentage:

(x) Maximum Security
20%
Percentage:

(xi) Reset Date: Each 15th calendar day.

29. Additional Disruption Events: Applicable.

7 / 14
30. Optional Additional Disruption (a) The following Optional Additional Disruption Events apply to the
Events: Securities: Not applicable.

(b) Delayed Redemption on Occurrence of an Additional Disruption Event
and/or Optional Additional Disruption Event: Not applicable.
31. Knock-in Event: Not applicable.

32. Knock-out Event: Not applicable.

PROVISIONS RELATING TO WARRANTS

33. Provisions relating to Warrants: Not applicable.

PROVISIONS RELATING TO CERTIFICATES

34. Provisions relating to Certificates: Applicable.

(a) Notional Amount of each
Not applicable.
Certificate:

(b) Instalment Certificates: The Certificates are not Instalment Certificates.

(c) Issuer Call Option: Not applicable.

(d) Holder Put Option: Applicable provided that (i) no Automatic Early Redemption Event has
occurred and (ii) the Issuer has not already designated the Valuation Date
in accordance with the OET Certificate Conditions.
(i) Optional Redemption The day falling ten (10) Business Days immediately following the relevant
Date(s): Optional Redemption Valuation Date.

(ii) Optional Redemption The last Relevant Business Day in March in each year commencing in
Valuation Date: March of the calendar year after the Issue Date, subject to adjustment in
the event that such day is a Disrupted Day as provided in the definition of
Valuation Date in Condition 28.
(iii) Optional Redemption
Put Payout 2210.
Amount(s):

(iv) Minimum Notice Not less than 30 days prior to the next occurring Optional Redemption
Period: Valuation Date.

(v) Maximum Notice
Not applicable.
Period:

(e) Automatic Early Not applicable.
Redemption:

(f) Strike Date: Not applicable.

(g) Strike Price: Not applicable.

(h) Redemption Valuation
Not applicable.
Date:

(i) Averaging: Averaging does not apply to the Securities.

(j) Observation Dates: Not applicable.

(k) Observation Period: Not applicable.

(l) Settlement Business Day: Not applicable.

(m) Cut-off Date: Not applicable.

(n) Identification information
of Holders as provided by Not applicable.
Condition 26:

8 / 14
DISTRIBUTION

35. Non exempt Offer: Applicable

(i) Non-exempt Offer
The Netherlands and Belgium.
Jurisdictions:

(ii) Offer Period: From (and including) the Issue Date until (and including) the date on
which the Securities are delisted.
(iii) Financial intermediaries
granted specific consent
to use the Base
The Manager and BNP Paribas.
Prospectus in
accordance with the
Conditions in it:

(iv) General Consent: Not applicable.

(v) Other Authorised Offeror
Not applicable.
Terms:

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: Marie-Laurence Dosière

Duly authorised
9 / 14
PART B - OTHER INFORMATION
1. Listing and Admission to trading - De listing
Application will be made to list the Securities on Euronext Amsterdam and to admit the Securities described herein for
trading on Euronext Amsterdam, with effect from the Issue Date.
The de-listing of the Securities on the exchange specified above shall occur on at the opening time on the Valuation Date,
subject to any change to such date by such exchange or any competent authorities, for which the Issuer and the Guarantor
shall under no circumstances be liable.
2. Ratings

The Securities have not been rated.

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 and Other Information concerning the Underlying Reference
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 Index Sponsor 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 :
[email protected].
The Issuer does not intend to provide post-issuance information.

Index Disclaimer

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.

AEX® Index
Euronext N.V. or its subsidiaries holds all (intellectual) proprietary rights with respect to the Index. Euronext N.V. or its
subsidiaries do not sponsor, endorse or have any other involvement in the issue and offering of the product. Euronext N.V.
and its subsidiaries disclaim any liability for any inaccuracy in the data on which the Index is based, for any mistakes, errors,
or omissions in the calculation and/or dissemination of the Index, or for the manner in which it is applied in connection with
the issue and offering thereof.
AEX® and AEX-index® are registered trademarks of Euronext N.V. or its subsidiaries.

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
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