This material is provided by BNP Paribas S.A, a public limited company registered in France, through its subsidiary in the Principality of Monaco, located at 1 boulevard des Moulins 98000-Monaco
On the assumption that this document is presented as part of a consultation mandate, it constitutes a general recommendation to buy or hold a security or other asset or to carry or not carry out any transaction. A decision to invest in this (these) product(s) cannot be made solely on the basis of this document and should only be made after careful consideration of all its features and associated risks. The investor is invited to take note of the 33-pageinformation document concerning the risks inherent in financial instruments and products he has acknowledged receipt when signing the terms and conditions of the account agreement. The investor must also ensure that he has sufficient knowledge, understanding and experience in these risks in order to make his own detailed analysis of all aspects of the proposed transaction or service.
This document does not constitute a prospectus within the meaning of Law n°1.339 dated September 7th, 2007related to mutual funds and investment funds, modified, and its applying Sovereign Ordinance n°1.285 dated September 10th, 2007 related to mutual funds and investment funds, modified.
BNP Paribas S.A subsidiary in the Principality of Monaco is authorized and regulated as a credit institution by the French Prudential Supervision Authority, 4 place de Budapest -CS 92459 - 75436 Paris - France and its financial activities are approved and supervised by the Financial Activities Supervisory Commission (CCAF) - 4 rue des Iris- BP 540 - 98015 Monaco Cedex.