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Risk factors: Foreign exchange risk if the investor decides to convert the investment into a currency other than the dollar. The information above provides only a summary view of the risks associated with this product. For more information, please consult the Investor Guide available at your branch. The price of the Step Up Note 26 reflects trends in interest rates. The 100% par guarantee applies only if notes are held to maturity. Consequently, there is a risk of capital loss in the event that the product is sold before maturity. Potential investors should refer only to the information in the final issuing prospectus. The prospectus, consisting of the EMTN programme and final terms and conditions, will be available on the website of the Luxembourg Stock Exchange www.bourse.lu and can be obtained from the issuer at no charge.
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