Disclaimer

This publication has been prepared and is approved for purposes of section 21 of the UK Financial Services and Markets Act 2000 by Nordea Bank S.A. (with registered address at 562, rue de Neudorf, L-2220 Luxembourg), which is a company registered with the Luxembourg register of commerce and companies under the number R.C.S. B14.157, and subject to the supervision of the Luxembourg Commission de Surveillance du Secteur financier (www.cssf.lu) and to the limited regulation of the UK Financial Conduct Authority (www.fca.org.uk).

The information contained in this publication is for general information purposes only, without regard to the specific investment objectives, financial situation and particular needs of any specific person. Advice should always be sought from a financial or tax adviser regarding the suitability or tax merits of an investment or product, and should take into account the specific investment objectives, financial situation or particular needs of any person in receipt of this publication, before acting on any information contained therein.

The services and investment products referred to in this publication may not be eligible for sale in some jurisdictions, and their availability may depend, among other things, on the investment risk profile of persons in receipt of this publication or on any legislation to which they are subject. Nothing in this publication should be construed as an offer, or the solicitation of an offer, to purchase, subscribe to or sell any investment or product, or to engage in any other transaction or provide any kind of financial or banking service in any jurisdiction where Nordea Bank S.A. or any of its affiliates do not have the necessary license. This publication may be distributed by Nordea Bank S.A. and Nordea Bank S.A., Luxemburg, Zweigniederlassung Zürich, (Reg.no. CH – 0520.9.001.063-7 Zürich), which is subject to the supervision of the Swiss Financial Market Supervisory Authority (www.finma.ch).