Societe Generale Private Banking is the private banking division of the Societe Generale Group operating through its head office within Societe Generale S.A. and its network (subsidiaries or branches or departments of Societe Generale S.A.), located in various countries, hereinafter mentioned, acting under the “Societe Generale Private Banking” and “Kleinwort Hambros” brands, and distributors of the document.
This marketing document, subject to modifications, is given for purely informative purposes and does not constitute a contract. This material has been prepared for information purposes only and is not intended to provide investment advice nor any other investment service, and the document does not constitute and under no circumstances should it be considered in whole or in part as an offer, a solicitation, advice, a personal recommendation to purchase or subscribe for an investment service and/or product, nor an invitation to invest in the class of assets mentioned herein from any Societe Generale Private Banking entity. The information indicated in this document shall not be considered as legal or tax or accounting advice. Some products, services and wealth planning solutions might not be available in all Societe Generale Private Banking entities. Their availability depends on the local laws and, according to the applicable tax laws and regulations, these solutions, products and services, may not be adapted or authorised in some countries, and must complu with the Tax Code of Conduct of the Societe Generale Group. . You should be aware that the investment to which this material relates may involve numerous risks. The amount of risk may vary but can expose you to a significant risk of losing all of your capital, including a potential unlimited loss. Accordingly these products, services or solutions may be reserved only for a certain category of eligible investors such as those who are sophisticated and familiar with these types of investment and who understand the risks involved. Furthermore, accessing some of these products, services and solutions might be subject to other eligibility conditions. Your private banker is available to discuss with you on these products, services and solutions to check if they can respond to your needs and are suitable to your investor profile.Accordingly, before making an investment decision, as the case may be and according to the applicable laws, the potential investor will be questioned by his private banker within the entity of Societe Generale Private Banking where he is client, as to his eligibility for the envisaged products/investment service, and the compatibility of the investment with his investment profile and objectives. He should also consult his own independent financial, legal and tax advisers to obtain all the financial, legal and tax information which will allow him to appraise the characteristics and the risks of the envisaged products/investment services, as well as his tax treatment, in light of his own circumstances. The full understanding and agreement to the related contractual and informative documentation including the documentation relating to the relevant risks is required from the potential investor prior to any subscription of products/investment services. The potential investor has to remember that he should not base any investment decision and/or instructions solely on the basis of this document. Any investment may have tax consequences and it is important to bear in mind that the Societe Generale Private Banking entities do not provide any tax advice. A potential investor should consider seeking independent tax advice (where appropriate). This document is not intended to be distributed to a person or in a jurisdiction where such distribution would be restricted or illegal. It is the responsibility of any person in possession of this document to inform himself of and to observe all applicable laws and regulations of relevant jurisdictions. This document is in no way intended to be distributed in or into the United States nor directly or indirectly to any US person. The price and value of investments and the income derived from them can go down as well as up. Changes in inflation, interest rates and the rate of exchange may have an adverse effect on the value, price and income of investments issued in a different currency from the potential investor’s ones. The simulations and examples included in this document are provided only for indicative and illustration purposes. The present information may change depending on the market fluctuations and the information and views reflected in this document may change. The Societe Generale Private Banking entities disclaim any responsibility to update or make any revisions to this document. The purpose of this document is to inform investors who shall make their investment decisions without overly relying on the document. The Societe Generale Private Banking entities do not offer any guarantee, express or implied, as to the accuracy or exhaustivity of the information or as to the profitability or performance of classes of assets, countries, markets.
This document does not purport to list or summarize all the financial products’ terms and conditions, nor to identify or define all or any of the risks that would be associated with the purchase or sale of the investment product(s)/asset class(es) described herein. The historical data and information herein, including any quoted expression of opinion, have been obtained from, or are based upon, external sources that the Societe Generale Private Banking entities believe to be reliable but have not been independently verified and are not guaranteed as to their accuracy or completeness. The Societe Generale Private Banking entities shall not be liable for the accuracy, relevance or exhaustiveness of this information. Past performance is not a guide to future performance and may not be repeated. Investment value is not guaranteed and the value of investments may fluctuate. Estimates of future performance are based on assumptions that may not be realised, and should not be deemed an assurance or guarantee as to the expected results of investment in such asset class(es). This document is confidential, intended exclusively to the person to whom it is given, and may not be communicated nor notified to any third party (with the exception of external advisors on the condition they themselves respect this confidentiality undertaking) and may not be copied in whole or in part, without the prior written consent of the relevant Societe Generale Private Banking entity.
Conflict of interest
As a general matter, entities within the Societe Generale Group may make a market or act as a principal trader in securities referred in this report and can provide banking services to the companies mentioned in that document, and to their subsidiary. Entities within the Societe Generale Group may from time to time deal in, profit from trading on, hold on a principal basis, or act as advisers or brokers or bankers in relation to securities, or derivatives thereof, or asset class(es) mentioned in this document. Societe Generale may be represented on the board of such persons, firms or entities. Entities within the Societe Generale Group may be represented on the supervisory board or on the executive board of such persons, firms or entities. Employees of the Societe Generale Group, or persons/entities connected to them, may from time to time have position in or hold any of the investment products/ asset class(es) mentioned in this document. Entities within the Societe Generale Group may acquire (or liquidate) from time to time positions in the securities and/or underlying assets (including derivatives thereof) referred to herein, if any, or in any other asset, and therefore any return to prospective investor(s) may directly or indirectly be affected. Entities within the Societe Generale Group are under no obligation to disclose or take into account this document when advising or dealing with or on behalf of customers. Societe Generale Group maintains and operates effective organisational and administrative arrangements taking all reasonable steps to identify, monitor and manage conflicts of interest. To help the Societe Generale Private Banking entities to do this, they have put in place a management of conflicts of interest policy designed to prevent conflicts of interest giving rise to a material risk of damage to the interests of Societe Generale Private Banking’s clients. For further information, Societe Generale Private Banking’s clients can refer to the management of conflicts of interest’s policy, which was provided to them by the Societe Generale Private Banking entity of which they are clients.
Specific warnings per jurisdiction
Unless otherwise expressly indicated, this document has been issued and distributed by Societe Generale, a French bank authorized and supervised by the Autorité de Contrôle Prudentiel et de Résolution, located at 61, rue Taitbout, 75436 Paris Cedex 09 under the prudential supervision of the European Central Bank (“ECB”), and registered at ORIAS as an insurance intermediary under the number 07 022 493 orias.fr.. Societe Generale is a French Société Anonyme with its registered address at 29 boulevard Haussman, 75009 Paris, with a capital of EUR 1,009,641,917.50 on 31 December 2016 and unique identification number 552 120 222 R.C.S. Paris. Further details are available on request or can be found at www.privatebanking.societegenerale.fr
Societe Generale Belgium
This document has been distributed in Belgium by Societe Generale Private Banking SA/NV, a Belgian credit institution according to Belgian law and controlled and supervised by the National Bank of Belgium (“NBB”) and the Financial Services and Markets Authority (“FSMA”) and under the prudential supervision of the European Central Bank (“ECB”). Societe Generale Private Banking SA/NV is registered as an insurance broker at the FSMA under the number 61033A. Societe Generale Private Banking SA/NV has its registered address at 9000 Ghent, Kortrijksesteenweg 302, registered at the RPM Ghent, under the number VAT BE 0415.835.337. Further details are available on request or can be found at www.privatebanking.societegenerale.be
This document has been distributed in Luxembourg by Societe Generale Bank and Trust (“SGBT”), a credit institution which is authorized and regulated by the Commission de Surveillance du Secteur Financier (“CSSF”) under the prudential supervision of the European Central Bank (“ECB”), and whose head office is located at 11 avenue Emile Reuter – L 2420 Luxembourg. Further details are available on request or can be found at www.sgbt.lu No investment decision whatsoever may result from solely reading this document. SGBT accepts no responsibility for the accuracy or otherwise of information contained in this document. SGBT accepts no liability or otherwise in respect of actions taken by recipients on the basis of this document only and SGBT does not hold itself out as providing any advice, particularly in relation to investment services. The opinions, views and forecasts expressed in this document (including any attachments thereto) reflect the personal views of the author(s) and do not reflect the views of any other person or SGBT unless otherwise mentioned. SGBT has neither verified nor independently analyzed the information contained in this document. The CSSF has neither verified nor independently analyzed the information contained in this document.
The present document has been distributed in Monaco by Societe Generale Private Banking (Monaco) S.A.M., located 13, 15 Bd des Moulins, 98000 Monaco, Principality of Monaco, governed by the Autorité de Contrôle Prudentiel et de Résolution and the Commission de Contrôle des Activités Financières. The financial products marketed in Monaco can be reserved for qualified investors in accordance with the Law No.1339 of 07/09/2007 and Sovereign Ordinance No.1.285 of 10/09/2007. Further details are available upon request or on www.privatebanking.societegenerale.mc
This document has been communicated in Switzerland by Societe Generale Private Banking (Suisse) SA (“SGPBS”), whose head office is located rue du Rhône 8, CP 5022, CH-1211 Geneva 11. SGPBS is a bank authorized by the Swiss Financial Market Supervisory Authority (“FINMA”). The collective investment schemes and structured products referred to in this document can only be offered in compliance with the Swiss Federal Act on Collective Investment Scheme (Collective Investment Schemes Act, CISA) dated 23 June 2006. Further details are available on request or can be found at www.privatebanking.societegenerale.ch
This document has been distributed in the United Kingdom by SG Kleinwort Hambros Bank Limited, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm reference number is 119250. Kleinwort Hambros is the brand name of SG Kleinwort Hambros Bank Limited. The company is incorporated in England and Wales under number 964058 and its registered address is 5th Floor, 8 St James’s Square, London SW1Y 4JU. The availability of the products or services described in this document in the United Kingdom may be restricted by law. Further details are available on request from your private banker.
This document has been distributed in Jersey by SG Kleinwort Hambros Bank (CI) Limited, which is regulated by the Jersey Financial Services Commission (“JFSC”) for banking, investment, money services and fund services business. Kleinwort Hambros is the brand name of SG Kleinwort Hambros Bank (CI) Limited. The company is incorporated in Jersey under number 2693 and its registered address is PO Box 78, SG Hambros House, 18 Esplanade, St Helier, Jersey JE4 8PR.
This document has been distributed in Guernsey by SG Kleinwort Hambros Bank (CI) Limited – Guernsey Branch, which is regulated by the Guernsey Financial Services Commission (“GFSC”) for banking, investment and money services business. Kleinwort Hambros is the brand name of SG Kleinwort Hambros Bank (CI) Limited – Guernsey Branch. Its address is PO Box 6, Hambros House, St Julian’s Avenue, St Peter Port, Guernsey, GY1 3AE. This document has not been authorised or reviewed by the JFSC or GFSC.
This document has been distributed in Gibraltar by SG Kleinwort Hambros Bank (Gibraltar) Limited, which is authorised and regulated by the Gibraltar Financial Services Commission for the conduct of banking, investment and insurance mediation business. Kleinwort Hambros is the brand name of SG Kleinwort Hambros Bank (Gibraltar) Limited. The company is incorporated in Gibraltar under number 01294 and its registered address is 32 Line Wall Road, Gibraltar. The availability of the products or services described in the document in Gibraltar may be restricted by law. Further details are available on request from your private banker.
Societe Generale Private Banking Hambros is part of the wealth management arm of the Societe Generale Group, Societe Generale Private Banking. Societe Generale is a French bank authorized in France by the Autorité de Contrôle Prudentiel et de Résolution, located at 61, rue Taitbout, 75436 Paris Cedex 09, and under the prudential supervision of the European Central Bank - ECB. It is also authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Further information on the SGPB Hambros Group including additional legal and regulatory details can be found on www.kleinworthambros.com
© Copyright the Societe Generale Group 2017. All rights reserved. Any unauthorized use, duplication, redistribution or disclosure in whole or in part is prohibited without the prior consent of Societe Generale. The key symbols, Societe Generale, Societe Generale Private Banking and Kleinwort Hambros are registered trademarks of Societe Generale. All rights reserved.