DISCLAIMER

The use and access of these web pages, or any other linked web sites provided by UBA CAPITAL (EUROPE) LTD and/or any affiliate or branch of UBA CAPITAL (EUROPE) LTD ("UBA CAPITAL (EUROPE) LTD"), and any content herein, including posted documents, ("Materials") is subject to the following disclaimer and any other posted restrictions. The products described herein may not be eligible for sale in all jurisdictions or to certain categories of investors.
Except as otherwise specified herein, these Materials are distributed by UBA CAPITAL (EUROPE) LTD AG.
United Kingdom and rest of European Economic Area: These Materials are distributed to customers in the United Kingdom and the rest of the European Economic Area by UBA CAPITAL (EUROPE) LTD Limited, Company Number 9876543212, of 2-4 King St, London SW1Y 6QL, United Kingdom. UBA CAPITAL (EUROPE) LTD Limited is authorised for the conduct of investment business in the United Kingdom by the Financial Services Authority, registration number 12345678. United States: These Materials are distributed to US persons by UBA New York, a branch of UBA PLC to major US institutional investors only. UBA CAPITAL (EUROPE) LTD or UBA New York. accepts responsibility for the content of Materials prepared by another division, when distributed to US persons. All transactions by a US person in the securities mentioned in these Materials must be effected through UBA CAPITAL (EUROPE) LTD or UBA New York.
Nothing in the Materials constitutes investment advice and any recommendations that may be contained herein have not been based upon a consideration of the investment objectives, financial situation or particular needs of any specific recipient. The report is published for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Unless specifically stated otherwise, all price information is indicative only. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the Materials, nor are they a complete statement of the securities, markets or developments referred to herein. The Materials should not be regarded by recipients as a substitute for the exercise of their own judgement. Any opinions are subject to change without notice and may differ or be contrary to opinions expressed by other divisions of UBA PLC as a result of using different assumptions and criteria. UBA CAPITAL (EUROPE) LTD is not under any obligation to update or keep current the information contained herein.
UBA CAPITAL (EUROPE) LTD, its related entities, directors, employees and agents accepts no liability whatsoever for any loss or damage of any kind arising out of the use of all or part of these Materials. Certain laws and regulations impose liabilities which cannot be disclaimed. This disclaimer shall in no way constitute a waiver or limitation of any rights a person may have under such laws and/or regulations.
UBA CAPITAL (EUROPE) LTD, its directors, officers, employees or clients may have or have had interests or long or short positions in the securities and/or currencies referred to herein, and may at any time make purchases and/or sales in them as principal or agent. In addition, UBA CAPITAL (EUROPE) LTD may act or have acted as market-maker in financial products discussed herein. Furthermore, UBA CAPITAL (EUROPE) LTD may have or have had a relationship with or may provide or have provided investment banking, capital markets and/or other services to the relevant companies. Employees of UBA CAPITAL (EUROPE) LTD may serve or have served as officers or directors of the relevant companies. UBA CAPITAL (EUROPE) LTD may rely on information barriers to control the flow of information contained in one or more areas within UBA CAPITAL (EUROPE) LTD into other areas, units, divisions or affiliates of UBA CAPITAL (EUROPE) LTD.
The securities described herein may not be eligible for sale in all jurisdictions or to certain categories of investors. Options, derivative products and futures are not suitable for all investors, and trading in these products is considered risky. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any products mentioned in the Materials. Clients wishing to effect transactions should contact their local sales representative.  


 
Wednesday, February 22, 2012

Contact
Doug Bate (Global Head, Sales & Trading)
Peeyush Pandya (Global Head, Structured Trade Finance)
  +44 207 766 4600
mail   info@ubacapital.com