Information Purpose only, No offer or solicitation

The information on this website is for information purposes only and does not create any legally binding obligation on the part of Nomura International Plc and/or its affiliates. This website, parts thereof and the information contained herein is does not constitute an offer, advertisement, recommendation or solicitation for the purchase or sale of any particular financial instrument but rather constitutes generic, non-product specific information relating to certain proprietary indices administrated and calculated by Nomura International Plc (“Index Sponsor”) which may, in whole or in part only, constitute the reference underlying for a particular transaction. When making an investment decision, you should solely rely on the final documentation relating to the transaction.

Index Linked Products subject to restrictions

Products based on indices described on this website may not be appropriate for all investors. The Promotion, offering or sale of financial instruments linked to a particular index may be (a) prohibited in certain jurisdictions by applicable law, only available to be promoted, offered or sold through restricted means (e.g. offered by way of private placement), and/or (b) only available to a limited group of investors (institutional/professional/sophisticated (howsoever defined in any given jurisdiction)).

Neither the creation, calculation nor maintenance of the indices nor any view which Nomura International plc or any of its affiliates may from time to time express constitutes a recommendation as to the merits of any investment product based on any of the Indices.

Accuracy of Information

The information on this website has been taken from various sources, including internal information providers, Nomura International Plc considers reliable. Nevertheless, Nomura International Plc does not represent or warrant the information or material contained on this website to be complete, adequate or accurate and it should not be relied upon such.

Performance Data

Any index performance information is provided for information purpose only. It is impossible to predict whether the performance of the particular indices will rise or fall. By providing any performance data, Nomura International Plc is not representing that the relevant indices are likely to achieve gains similar to those shown, past performance is no indication of future results, and   the indices may further in future exhibit a higher loss than their historical performance. Index levels may not represent (i) the terms at which any potential transaction could be entered into, (ii) the actual terms at which any existing transactions could be liquidated or unwound or (iii) the calculation or estimate of an amount that would be payable following the designation of an early termination – and Nomura International Plc does not warrant the accuracy or completeness of such index levels.

Back-Testing

Any “back-testing” information on the website is for illustrative only and derived from proprietary models based on certain historic data (which may or may not correspond with historic data third parties would use to back-test any index) and assumptions and estimates, not all of which may be specified herein. All index performance information prior to the relevant index start date is hypothetical and back-tested, as the relevant index did not exist prior to that date. Hypothetical back-tested index performance information is subject to significant limitations. The Index Sponsor developed the index rules with the benefit of hindsight—that is, with the benefit of being able to evaluate how the index rules would have caused the indices to perform had they existed during the hypothetical back-tested period. The fact that the illustrative back-tested performance of an index may generally have appreciated over the hypothetical back-tested period may not therefore be an accurate or reliable indication of any fundamental aspect of the index methodology. Furthermore, such hypothetical back-tested performance might look different if it covered a different historical period. The market conditions that existed during the hypothetical back-tested period may not be representative of market conditions that will exist in the future. There are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved. One of the limitations of hypothetical performance information is that it did not involve financial risk and cannot account for all factors that would affect actual performance. The actual future performance of the indices may bear no relation to the hypothetical back-tested or historical performance of the indices.

Potential Conflicts of Interest

Nomura International plc is the Index Sponsor of the indices, and is therefore responsible for maintaining the Indices, as well as calculating and publishing the levels of the Indices, based on a proprietary model and relying on market information. In addition, Nomura International plc (or anyone of its affiliates) may be the Nomura counterparty to or issuer of any investment product entered into based on the indices. This gives rise to potential conflicts of interest.

Nomura International plc and its affiliates, in the normal course of business, may trade in the indices or the underlying currencies or in financial instruments that are linked to any of the relevant index constituents, and such trading activity may affect the level of the Indices. These trading activities may present a conflict between the interests of an investor that is evaluating whether or not to enter into an investment product based on the Indices with Nomura International plc or any of its affiliates and the interests that Nomura International plc and its affiliates will have in their proprietary accounts, in facilitating transactions for their customers and in accounts under their management.

In the ordinary course of business, Nomura International plc or any of its affiliates may have expressed views on expected movements in the Indices or the underlying currency pairs and may do so in the future. These views or reports may be communicated to the clients of Nomura International plc or any of its affiliates. However, any such views are and will be subject to change from time to time. Moreover, other professionals who deal in markets relating to the Indices or the underlying currency pairs may at any time have significantly different views from those of Nomura International plc or its affiliates. In addition, Nomura International plc or any of its affiliates may, from time to time, publish research that may influence the level of the Index, or may express opinions or provide recommendations that are inconsistent with the investment views inherent in the Index.

Furthermore, the Index Sponsor may amend the methodology of the indices and/or make such adjustments to the Indices as it considers appropriate, in each case in its sole discretion acting in good faith, in order to account for certain events or preserve the objective of the strategy (including cancelling an Index in certain circumstances). Such action taken, or discretion exercised, by the Index Sponsor may result in benefits to Nomura International plc or any of its affiliates and/or losses to an investor.

Impact of Index Pre-Hedging, Hedging and Trading Activities

The Indices were designed by Nomura International plc with the intention of earning a profit through entering into transactions linked to the indices, including pre-hedging and hedging transactions. It is possible that Nomura International plc’s pre-hedging and hedging activities in relation to the Indices will lead to movements in the underlying equity index and options markets that could adversely affect the performance of the Indices.  Nomura International plc may realise a profit in connection with its pre-hedging and hedging activities regardless of whether the levels of the Indices increase or decline.

Limitation of Liability

The website (including all information and material contained on the website) is provided “as is available”. Nomura International Plc is not providing any warranties or representations regarding the website. Nomura International Plc disclaims all warranties and representations of any kind with regard to the website, including any implied warranties of merchantability, non-infringement of third party rights freedom from viruses or other harmful code, or fitness for a particular purpose. Nomura International Plc does not warrant the accuracy, adequacy or completeness of any information and materials contained on the website and expressly disclaim liability for errors or omissions in the materials and information. Nothing inhere shall be construed as limiting or reducing Nomura International Plc’s responsibilities and obligations in accordance with applicable laws and regulations.